Laminating Adhesives Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Resin Type (Polyurethane, Acrylic, Others), By Technology (Solvent Based, Water Based, Others), By Application (Packaging, Automotive, Industrial, Construction, Others), By Region and Competition 2018-2028
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationLaminating Adhesives Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Resin Type (Polyurethane, Acrylic, Others), By Technology (Solvent Based, Water Based, Others), By Application (Packaging, Automotive, Industrial, Construction, Others), By Region and Competition 2018-2028
In 2019, the total value of the U.S. flexible packaging industry amounted to around USD 34 billion.
Global Laminating Adhesives market is expected to expand during the projected period due to increasing demand for flexible packaging as it has a longer shelf life and provides safety to products. The growing environmental awareness and paradigm shift toward more sustainable and eco-friendly alternatives as well as the growing trend to minimize plastic usage and adopt sustainable alternative solutions in the packaging industry are further expected to drive market growth. Laminating adhesives are thin layers of adhesive set on release paper. Once the adhesive is applied, the paper is stripped away, leaving the adhesive bonded to the component's surface.
For instance, Jowat SE developed a non-hazardous
Furthermore, the increasing demand from the pharmaceuticals, construction sector, and others are the crucial factors that propel the market’s growth. In addition, various companies and research organizations operating in the market also focus on developing eco-friendly products. This, in turn, is expected to create huge prospects for market growth in the upcoming years.
Development of Flexible Packaging
According to the Flexible Packaging Association, approximately 2/3 of all packaging is for food & beverages, and about 90% of flexible packaging is used for these products.
For instance, Henkel produced Laminating Adhesive with the brand name LOCTITE which provides solutions for the flexible packaging industry.
Increasing Focus on Sustainability
Solvent-free laminating adhesives have become increasingly popular in recent years. Due to the lack of a solvent, these adhesives don't release any volatile organic compounds (VOCs) into the atmosphere. As a result, solvent-free lamination serves as the foundation for sustainability. It's important to be recyclable. The correct adhesive can guarantee consumer safety and the necessary performance for food protection during the mechanical recycling of multi-layer flexible structures without degrading the quality of the recycled material.
For instance, Bostik provides a laminating adhesive that has been completely approved by RecyClass as compliant with the polyethylene film recycling stream.
With the growing concern over the environmental impact of plastic waste, many developed and developing countries along with several governments and non-government organizations worldwide are promoting the use of sustainable packaging solutions. Laminating adhesives are widely used in sustainable packaging solutions, such as compostable and biodegradable packaging materials, to provide excellent bonding strength and ensure the product’s safety and quality. In Europe, the packaging business is being driven toward sustainability by regulatory reforms brought about by the new Green Deal, laws banning single-use plastics, and associated rules.
For instance, in 2021, the UK government announced plans to outlaw single-use plastic plates, cups, and silverware in England to combat plastic pollution.
Additionally, with the increasing trend of online shopping, many e-commerce companies such as amazon, flip kart, etc. play a vital role. The demand for laminating adhesives in the e-commerce sector is driven by the increasing use of flexible packaging solutions and the need for better product protection during shipping and handling. Laminating adhesives are used extensively in e-commerce packaging to provide excellent barrier properties and ensure the product’s safety and quality.
For instance, H.B. Fuller provides perfecting adhesives and sealants for E-Commerce packaging solutions
Download Free Sample Report Water Based will be the key Technology
Water-based adhesives are a type of adhesive that uses water as the primary solvent or carrier for the active ingredients. These adhesives are becoming increasingly popular due to their environmentally friendly nature, low VOC emissions, and ability to bond with a wide variety of materials. Vinyl acetate, ethylene vinyl acetate, and acrylic resins are the main ingredients of water-based laminating adhesives. These adhesives may be applied to the foil, paper, and a variety of film substrates. Water Based Adhesive can be formulated to be very strong & fast setting and bond to a variety of porous and non-porous substrates including UV, Clay Coated, and SBS Papers, Films, Foils, Woods, Plastics, Corrugated material, and Coated board. Fast cure times and minimal foaming characteristics are offered by water-based laminating adhesives.
For instance, Cattie Adhesives manufactures a full line of water-based adhesive for most industrial applications.
However, the laminating adhesives are produced from raw materials such as resin including polyurethane, acrylic, and others as well as solvents, which are derived from crude oil. The price of crude oil is subject to fluctuations due to various geopolitical and economic factors resulting in volatility in the price of raw materials. The volatility of raw material prices can significantly impact the profitability of laminating adhesive manufacturers, making it challenging to plan and forecast production costs accurately. Along with this, the presence of a large number of global and regional market players provides high competition resulting in pricing pressures, leading to reduced profit margins for manufacturers. To sustain in the market, manufacturers must continually invest in research and development to develop innovative and sustainable adhesive solutions that meet the changing demands of customers which further increases investment in R&D resulting in increases in the cost of materials slowing down the market growth. Moreover, the generation of new technologies such as laser bonding and ultrasonic bonding, are emerging as alternatives to traditional laminating adhesives. These new technologies offer several advantages over traditional laminating adhesives, including higher bonding strength, improved productivity, and reduced material waste. Manufacturers must adapt to these advancements by investing in new technologies or risk being left behind by their competitors which further restrains the market growth.
Recent Developments
- In August 2022, Toyo-Morton, Ltd. launched the new ECOAD series of
polyurethane solvent-free laminating adhesive systems for the food packaging
and industrial markets, primarily in Asia.
- SONGWON developed new solvent-free laminating adhesives HI-THANE
A-7363 + HI-THANE A-6600 for flexible packaging laminates in July 2022.
- In June 2022, Toyo-Morton, Ltd. developed new bio-based laminating
adhesives for dry lamination of films in flexible packaging.
- Sun Chemical, a major player in the inks and pigments industry,
established a partnership with Hewlett-Packard (HP). With an HP Indigo digital
press and a new solventless lamination product from Sun Chemicals. The joint
venture hopes to introduce environment-friendly flexible packaging in March 2022.
- Nordmeccanica, a major provider of lamination equipment worldwide, and Bostik, the adhesive solutions division of Arkema, have inked a purchase agreement in November 2021. With the money from the deal, Bostik will be able to expand both its worldwide reach and its research and development efforts for mastering flexible lamination. The firm will also be able to purchase the furnishings for a cutting-edge, commercial laminator.
Market Segmentation
Global Laminating Adhesives Market
Company Profiles
3M Co., Henkel AG & Co KGaA, HB Fuller Co., Bostik SA, Morchem SA, Ashland Inc., Sun Chemical Corp., Flint Group GmbH, Coim USA Inc., Vimasco Corp. are some of the key players of the Global Laminating Adhesives Market.
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 – 2021 |
|
Estimated Year |
2023 |
|
Forecast Period |
2024 – 2028 |
|
Quantitative Units |
Revenue in USD Million, Volume in Metric Tonnes, and
CAGR for 2018-2022 and 2023-2028 |
|
Report coverage |
Revenue forecast,
volume forecast, company share, competitive landscape, growth factors, and
trends |
|
Segments covered |
Resin Type Technology Application |
|
Regional scope |
North America,
Europe, Asia Pacific, South America, Middle East & Africa |
|
Country scope |
United States, Mexico, Canada, France, Germany, United
Kingdom, Spain, Italy, Poland, Russia, China, India, South Korea, Japan, Indonesia,
Vietnam, Australia, Brazil, Argentina, South Africa, Saudi Arabia, UAE |
|
Key companies profiled |
3M Co.,
Henkel AG & Co KGaA, HB Fuller Co., Bostik SA, Morchem SA, Ashland Inc.,
Sun Chemical Corp., Flint Group GmbH, Coim USA Inc., Vimasco Corp. |
|
Customization scope |
10% free report customization with purchase.
Addition or alteration to country, regional & segment scope. |
|
Pricing and purchase
options |
Avail customized
purchase options to meet your exact research needs. Explore
purchase options |
|
Delivery Format |
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request) |
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