Laminating Adhesives Market Size 2022, By Segments,

Lamination Adhesives Market

The Global Laminating Adhesives Market was worth USD 2.93 Billion in 2021 and is projected to reach a valuation of USD 5.66 Billion by 2030, amplifying at a CAGR of 7.6% over 2022-2030.

Laminating adhesives are generally referred to as thin layers of films which are applied to substrates. They are cured using heat or airflow and provide strong adhesion, high temperature resistance as well as chemical protection of substrates. These adhesives are widely used in pharmaceutical, medical, automotive, transportation and food processing applications.

The Global Laminating Adhesives Market was worth USD 2.93 Billion in 2021 and is projected to reach a valuation of USD 5.66 Billion by 2030, amplifying at a CAGR of 7.6% over 2022-2030.

What are the main drivers of industry growth?

Rising demand from various end-use industries such as transportation, automotive, and medical, among others, and increasing knowledge of environment-friendly adhesives are mainly increasing the outlook of the industry. Meanwhile, increasing production and sales of luxury vehicles across the globe is fueling the growth of the laminating adhesives market.

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Additionally, the growing preference for lightweight electronic devices is bolstering the market progression. Laminating adhesives are widely used to laminate circuit board and improve durability of miniaturized electronics. At the same time, these adhesives also help to reduce heat while allowing touchscreens to be bonded, which in turn decreases the weight of electronic gadgets.

On the contrary, government regulations aimed at reducing VOC emissions due to growing concerns about environmental sustainability are likely to hinder the expansion of the market. Although leading companies are focusing more on developing eco-friendly laminating adhesives to comply with strict government policies.

Additionally, COVID-19 induced restrictions including indefinite shutdowns have negatively impacted the overall market growth due to supply chain disruptions and temporary halt in manufacturing activities.

Segmented analysis of the market

resin based

Polyurethane
Acrylic
Others
Polyurethane segment is currently dominating the overall market owing to its effective properties including low curing temperature, flexibility, strength and high environmental resistance.

By technology

Solvent based
Less solvent
water-based
Others
The solvent-based segment is poised to register notable gains over the period 2022-2030, as solvent-based adhesives are cost effective, safe and durable in nature. Moreover, they also comply with clean air laws, increasing their adoption in various industries.

In terms of end use

Packaging
Industrial
Automotive
Transportation
The packaging segment is expected to capture a major market share within the given timeframe owing to the expedited approvals from regulatory bodies and favorable policies associated with effective food packaging.

Explain the geographical scope of the Global Laminating Adhesives Market

North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America are the major regions that make up the geographical landscape of this sphere of business. Asia-Pacific is poised to exhibit lucrative expansion trends over the period 2022-2030 due to high economic growth and rising investments in sectors such as consumer goods and home appliances, automotive, construction and manufacturing.

In addition, growing disposable income, industrialization, improved lifestyle and increasing consumption of packaged foods are further contributing to the progress of the APAC regional market.

Likewise, Europe is expected to capture a substantial share of the revenue over the forecasted period due to increasing purchasing power of the masses, increasing production of luxury cars and presence of major market players.

Highlighting the major companies operating in the market

The major players operating in the global laminating adhesives market are Bayer AG, Sika AG, Henkel AG & Company, The 3M Company, Arkema SA, The DOW Chemical Company, SAPICI SpA, DIC Corp., Ashland Global Specialty Chemicals, Inc. , HB Fuller Company, Toyochem Co., Ltd. and Huber Group.

Notably, the Japanese chemical company DIC Corp. launched in December 2020 a series of eco-friendly dry lamination adhesives for flexible packaging named DICDRY LX-RP. The product launch aimed to expand the company’s product portfolio and strengthen its market presence.

Apart from this, other industry giants have also focused on enhancing their overall footprint in the market using strategies such as mergers and acquisitions, innovative product launches, collaborations, investments in research and development and partnership agreements.

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This press release was published on openPR.

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