Rising Trends and Opportunities in the Laminating Adhesives Market
Posted by Jack Martin on June 30th, 2023
The report "Laminating Adhesives Market by Resin Type (Polyurethane, Acrylic, Others), Technology (Solvent-based, Water-Based, Solvent-less), End-Use Industry (Packaging (Food & Beverages, Pharmaceuticals, Consumer Products), Industrial, and Region (2023-2028)", exhibits high growth potential and is projected to reach a market size of USD 5.1 billion by 2028 from USD 3.6 billion in 2022, at a CAGR of 5.8%. Asia Pacific is the largest laminating adhesives market that is projected to register the second highest CAGR. This high growth is due to the growing demand from the packaging, industrial, and automotive & transportation industries. There is rising awareness about the use of eco-friendly adhesives in this region. Asia Pacific is the biggest market and is expected to remain the same in the near future. The continuous rise in the manufacturing of various products for use within the region and for exports drives the demand for laminating adhesives. Rising population and growing end-use industries have led to innovation and developments, making it a major laminating adhesives market.
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The increasing demand for stand-up pouches for packed meals and microwaveable food items drive the use of laminating adhesives. The use of laminating adhesives eliminates the need for rigid packaging, glass bottles, boxes, and cans. Microwaveable food is in high demand owing to changing lifestyles and increasing middle-class household income. Laminating adhesives are in demand for the packaging of food products owing to their properties such as preservation of aroma and protection against odor. The quality of most food and pharmaceutical products changes over a period of time. The change in the quality of food is visible with the changes in its color and texture. The appearance of food products such as dairy, poultry, vegetables, and fruits is of importance to consumers. Consumers prefer food products packed in a transparent film rather than in an opaque one. Transparent laminating adhesives allow the packed product to be seen by the customers, thereby making it easier to check any change in food quality.
Asia Pacific is one of the fastest-growing markets for polyurethane laminating adhesives. Many packaging, electronics, and transportation manufacturers are setting up or expanding their manufacturing bases in this region to take advantage of the low manufacturing cost, which is generating high demand for polyurethane laminating adhesives in Asia Pacific.
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About the AuthorJack Martin
Joined: August 7th, 2017
Articles Posted: 1,203
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