Market Overview
Laminating adhesives can be
defined as the adhesives that helps to bond a variety of substrates and
provides superior benefits such as gas permeability, flame resistance, optical
clarity, electrical insulation, and chemical and heat resistance. Laminating
adhesives can be categorized as solvent based, solvent free, water-based, hot
melt, and radiation curable. The demand for water-based laminating adhesives is
increasing due to increasing regulations against volatile organic compound
(VOC) emissions. These adhesives are primarily used in food packaging
applications due to rising awareness about the product materials used for
packaging. It also finds application in pharmaceuticals packaging, automotive
interiors, construction materials, floor basecoat, and electrical materials
among others.
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The global demand for laminating
adhesives is driven by the increasing demand in packaging industry. The use of
laminating adhesives is increasing in flexible packaging as it provides the
desired performance for different applications by laminating two or more layers
of material with a polymeric adhesive. Expanding packaging industry with
increasing consumption of packaged food products such as cooked beans, frozen
food, candy, ready-to eat food, soup, and pet foods due to improved shelf life
and convenience is driving the market growth. Additionally, the consumption of
the product is increasing in automotive interiors such as door paneling,
headliners, interior trim, rear window shelves, and seat heaters.
Furthermore, increasing
preference for digitally printed labels due to improved benefits over paper
labels is likely to offer significant opportunities to the players operating in
the global laminating adhesives market.
Some of the prevailing trends
noticed in the global laminating adhesives market includes product development
for digital printing and flexible packaging applications. For instance, in
November 2016, Ashland, Inc signed a collaboration agreement with HP to develop
laminating adhesives for digital printing applications.
Key Players
Some of the key players in the
global laminating adhesives market are Henkel AG & Co. KGaA (Germany),
3M (US), DowDuPont (US), Coim Group
(Italy), Ashland (US), Bostik (US), H.B. Fuller Company (US), Vimasco
Corporation (US), Toyo-Morton, Ltd (Japan), Flint Group (Luxembourg), and LD
Davis (US).
Regional Analysis
The market in Asia-Pacific
accounted for the largest share of the laminating adhesives market in 2017 and
is expected to continue its dominance during the forecast period. This growth
can be attributed to the growing packaging industry on account of surging
demand for ready-to-eat food products coupled with rising per capita disposable
income. Additionally, increased spending on healthcare coupled with rising
health awareness has resulted in increased demand for medicines and protein
supplements, which is likely to fuel the demand for laminating adhesives in
medical packaging applications.
Europe is another prominent
market for Laminating
Adhesives Market due to the rising demand from major end-use industries
such as pharmaceuticals, food & beverage, and automotive. Expanding
healthcare industry with increasing spending on healthcare coupled with the
expanding geriatric population is bolstering market growth.
The North American market is also
expected to grow on account of the expanding packaging industry with the rising
demand for packaged food and beverages. Additionally, reviving automotive
industry with increased production of electric vehicles to meet environmental
regulations against carbon emissions is expected to propel the market growth.
The Latin American market is
expected to witness considerable growth due to the growing automotive industry
especially in Brazil and Mexico on account of increased spending on the
vehicles.
The market in the Middle East
& Africa is likely to exhibit considerable growth during the review period
on account of the rapidly growing end-use industries coupled with rising per
capita disposable income of the consumers in the region.
Segmentation
The global laminating adhesives
market has been segmented by type, resin, application, and region.
Based on type, the market has
been segmented into solvent-based, solvent free, water-based, hot melt,
radiation curable, and others.
Based on resin, the market has
been segmented into polyether urethane, polyester, polyester urethane, acrylic,
and others.
Based on application, the market
has been segmented into packaging, automotive interiors, construction
materials, floor basecoat, electrical materials, and others. Packaging has been
further sub-segmented into food, medical, and others.
The laminating adhesives market
has been studied with respect to five regions—North America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa.
Intended Audience
- Laminating adhesives manufacturers
- Traders and distributors of laminating adhesives
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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