DUBAI, United Arab Emirates, Feb. 17 2022 (GLOBE NEWSWIRE) — The global laminating adhesives market is estimated to be worth US$4.33 billion by the end of 2027, from US$3.10 billion recorded in 2021.
Shifting Approach to Volatile Organic Compounds (VOCs) and Environmentally Friendly Adhesives Continues to Drive Global Growth laminating adhesives market. The growth of disposable products is another factor enabling greater consumption of laminating adhesives in the packaging industry. In 2027, the laminating adhesives market is expected to reach US$ 4.33 billion by 2027, expanding at a healthy CAGR of 5.8% during the forecast period 2022-2027.
|Estimated size of the laminating adhesives market in 2022||US$3.27 billion|
|Projected size of the laminating adhesives market in 2027||US$4.33 billion|
|Historical CAGR of Laminating Adhesives Market (2013-2021)||4.7%|
|CAGR Based on Laminating Adhesives Market Value (2022-2027)||5.8%|
The laminating adhesives market is expected to witness significant growth, owing to the growth of industries – food, pharmaceutical, automotive, and construction. Additionally, governments around the world are investing heavily in the healthcare industry, which is again expected to boost the demand for laminating adhesives.
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The impact of COVID-19 on the global market scenario
The coronavirus (COVID-19) pandemic has significantly affected all facets of the industrial sector globally. This has led to several changes in the laminating adhesives market landscape. Self-quarantine regulations have led to supply shortages and event withdrawals, and market players are gradually shifting their sources away from East Asia, given production and manufacturing disruptions In the region. However, the coronavirus pandemic is likely to boost the adoption of flexible packaging to improve food safety and thus would provide new opportunities for players in the laminating adhesives market.
In the global laminating adhesives market, food packaging applications are likely to hold key market shares. Among the types of laminating adhesives, water-based laminating adhesives are expected to capture more than 50% of the global market value, due to their low VOC content which reduces the negative impact on the environment.
Main lessons of the study
- Factors such as increasing disposable incomes and growing urbanization which will continue to drive the demand for packaging adhesives and increase consumer packaged goods sold through supermarkets, e-commerce websites and other retail outlets will bode well for the laminating adhesive market.
- It is estimated that water-based adhesives will overtake the solvent-based laminating adhesives market, especially in the United States and Europe during the forecast period.
- North America and Europe are expected to experience healthy growth in their respective transportation equipment markets as automotive and aerospace equipment manufacturers increasingly adopt adhesive technologies to reduce vehicle weight and thus meet energy efficiency requirements.
- India is expected to be the fastest growing laminating adhesives market, fueled by strong increases in automotive production and construction spending.
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|Historical data available for||2013-2021|
|Market analysis||Billions of US dollars for value|
|Key regions covered||North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa|
|Main countries covered||USA, Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, North Africa, South Africa|
|Key Segments Covered||Product type, application and region|
|Profiled Key Companies||• DOW Chemical Company
• Huber Group
• Arkema SA
• TOYOCHEM CO., LTD.
• Ashland Global Specialty Chemicals Inc.
• SAPICI SpA
• HB Fuller Company
• DIC Corp.
• Sika AG
• Henkel AG & Company
• Bayer AG
|Report cover||Market forecasts, brand share analysis, competitive intelligence, DROT analysis, market dynamics and challenges, strategic growth initiatives|
|Customization and Pricing||Available on demand|
Overview of the competition
The major players in the laminating adhesives market are focusing on expanding their customer base and distribution channel to meet the growing demand for laminating adhesives. For example, in May 2022, Arkema SA’s subsidiary, Bostik SA, extended its maintenance, repair and operation (MRO) distribution channel to the United States. The MRO product line includes glue sticks, anti-seize compounds and lubricants, woodworking lubricants, epoxy adhesives and spray adhesives to meet the growing demand from manufacturers across the country.
The major players involved in the laminating adhesives market are The DOW Chemical Company, Huber Group, Arkema SA, TOYOCHEM CO., LTD., Ashland Global Specialty Chemicals Inc., SAPICI SpA, HB Fuller Company, 3M, Sika AG, Henkel AG & Company, KGaA, Bayer AG, and others.
Laminating Adhesives Market by Category
By product type:
- Food packaging
- medical packaging
- Industrial packaging
- Other end use
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa
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