Laminating Adhesives Market
Laminating Adhesives Market Forecasts to 2028 – Global Analysis By Type (Dry Lamination, Wet Lamination), Resin (Epoxy, Acrylic, Polyester), Adhesive (Silicone, Ethylene) and By Geography
Years Covered |
2020-2028 |
Estimated Year Value (2021) |
US $2.90 BN |
Projected Year Value (2028) |
US $5.27 BN |
CAGR (2021 - 2028) |
8.9% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
Asia Pacific |
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Laminating Adhesives Market is accounted for $2.90 billion in 2021 and is expected to reach $5.27 billion by 2028 growing at a CAGR of 8.9% during the forecast period. Laminating Adhesives are used for joining and gathering of various material surfaces. It is specially designed to append or fix two distinct surfaces together. It is generally applicable in minimizing weight, vibration-dampening joint and spillage control of liquids or gases. It has its application in different industrial and domestic uses.
Market Dynamics:
Driver:
Rising demand for low volatile organic compounds
The increasing demand of low volatile organic compounds and environmentally sustainable adhesives are some of the predominant driver of the global laminating adhesive market. Moreover, the major end user market of laminating adhesive such as automobiles construction, woodworking, transportation, footwear, and packaging has witnessed a healthy growth over the last few years which in turn driving the growth of the global laminating adhesive market.
Restraint:
Performance limitations of water-based adhesives
The drying and curing of water-based adhesives require more time than that taken by solvent-based adhesives. In addition, water-based adhesives have flow properties that change with humidity, affecting the coating application. During high humidity, water does not easily evaporate, resulting in poor cure and a decrease in performance. Water-based adhesives are also sensitive to freezing conditions. Many water-based adhesives are no longer usable after freezing. Though solvent-based adhesives do not have such performance issues, the consumption of these adhesives is declining due to environmental concerns and regulatory policies.
Opportunity:
Growing trend of water -based & solvent -less adhesives
Stringent environmental regulations are playing a vital role in driving the water-based laminating adhesives market. The use of water-based laminating adhesives is increasing due to the growing concern regarding the generation of waste and emissions. Water-based laminating adhesives are also being used for high-performance laminations and one-part systems for outdoor applications in the automotive industry. The growing interest in water-based laminating adhesives is expected to increase the demand for acrylic and maleic resins, which account for a major share of all water-based adhesives manufactured, globally.
Threat:
Stringent regulatory policies
The chemical industry is facing challenges from regulatory authorities such as the Control of Substances Hazardous to Health (COSHH), the European Union (EU), Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), Globally Harmonized System (GHS), and the Environmental Protection Agency (EPA) in Europe and North America. Manufacturers in Europe and North America need to comply with these regulations regarding the production and usage of laminating adhesives in various applications to reduce VOC emissions. This has affected the production of the companies that are mainly into manufacturing laminating adhesives through solvent-based technology. In order to comply with these regulations, manufacturers are required to shift from solvent-based to water-based technology. This is a major threat for the market players.
The polyurethane segment is expected to be the largest during the forecast period
Polyurethane laminating adhesives are made of urethane polymers. Urethane is produced through a chemical reaction between diisocyanate and polyol. Polyurethane laminating adhesives are used in various applications because of their high toughness, abrasion resistance, flexibility, and adhesion to a wide variety of substrates. They possess various properties such as flexibility and strength, low cure temperature, excellent low-temperature resistance, and high environmental resistance. One-component polyurethane adhesives can be elastic or rigid, depending on the structure of thermoset or elastomer and curing techniques. They have relatively high shear and peel strength and are moisture-sensitive. Polyurethane laminating adhesives can be either one-component or two-component.
The packaging segment is expected to have the highest CAGR during the forecast period
Packaging is one of the key factors considered by the firms engaged in the manufacturing industry. With the growing number of manufacturing units, food processing plants, and increasing industrial production, the global packaging industry is witnessing robust growth. In the last few years, the packaging industry has been experiencing a transition, where the manufacturing and industrial sector has been adapting to flexible packaging. Owing to this, the rigid packaging industry is losing its share to the flexible packaging industry in the global packaging industry. Laminating adhesives are extensively used in flexible packaging. Laminating in flexible packaging is a process where two or more packaging webs are joined together using a bonding agent. These webs can be in the form of films, papers, or aluminum foils. Laminating adhesive is applied to the less absorbent substrate of the web, which is then pressed against the second web.
Region with largest share:
Asia Pacific is projected to hold the largest market share owing to the growing manufacturing activities and the increasing need for flexible packaging in countries, such as China, India, and Japan. The region is the largest consumer for the packaging industry, owing to the demand for food in major economies, such as China, India, and Japan. Compared to other countries, China is a late starter in the packaging industry, which, however, has grown to a large-scale industry over the decades. Additionally, the market competition in China has become increasingly fierce in the food and beverage industry, which has enabled companies to tap into overseas markets, with an aim to seek more resources and business opportunities.
Region with highest CAGR:
Europe is projected to have the highest CAGR due to the increased health awareness among the population and increased consumer spending on food and beverage and other consumer goods products. With the increasing share of the geriatric population in some countries, healthcare needs are increasing at a rapid pace. Lamination adhesive products find a wide application in healthcare packaging in the bonding of paper, plastic, and aluminum.
Key players in the market
Some of the key players profiled in the Laminating Adhesives Market include 3M, Dowdupont Inc., Henkel AG & Co. KGaA, Fujifilm Corporation, Arkema (Bostik), H.B. Fuller Company, Vimasco Corporation, Flint Group, DIC Corporation, Coim Group, Ashland Inc., Masterbond, Jubilant Industries, Dymax Corporation, and Franklin International.
Key developments:
In August 2021: Arkema (Bostik) has acquired the performance adhesive businesses for industrial application. This operation marks a major step in Arkema’s strengthening of its Adhesive Solutions segment, and fully aligns with the Group’s strategy to become a pure Specialty Materials player.
In December 2020: DIC Corporation announced introducing a series of new eco-friendly dry laminating adhesives for flexible packaging, DICDRY LX-RP, which are made using recovered polyethylene terephthalate (PET) bottles. This has assisted the company to expand its product portfolio and strengthen its footprint in the market.
Types Covered:
• Dry Lamination
• Wet Lamination
Resins Covered:
• Epoxy
• Acrylic
• Polyester
• Polyurethane
• Other Resins
Adhesives Covered:
• Silicone
• Ethylene
• Modified Polyolefin
• Synthetic and Natural Rubber
Components Covered:
• One-Component
• Two-Component
Technologies Covered:
• Solvent-Less
• Hot Melt
• Radiation Curable
• Combination Radiation Curable
• Solvent-Based
• Reactive
• Water-Based
• Other Technologies
Applications Covered:
• Pressure Sensitive Adhesives
• Woodwork & Furniture
• Paper Converting
• Footwear
• Window Films
• Insulation
• Automotive & Transportation
• Building & Construction
• Industrial (Electronics)
• Packaging
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Laminating Adhesives Market, By Type
5.1 Introduction
5.2 Dry Lamination
5.3 Wet Lamination
6 Global Laminating Adhesives Market, By Resin
6.1 Introduction
6.2 Epoxy
6.3 Acrylic
6.4 Polyester
6.5 Polyurethane
6.6 Other Resins
6.6.1 Polyester Urethane
6.6.2 Aliphatic Urethane
6.6.3 Aromatic Urethane
6.6.4 Vinyl Acetate
6.6.5 Polyvinyl Acetate
6.6.6 Vinyl
6.6.7 Nylon
7 Global Laminating Adhesives Market, By Adhesive
7.1 Introduction
7.2 Silicone
7.3 Ethylene
7.4 Modified Polyolefin
7.5 Synthetic and Natural Rubber
8 Global Laminating Adhesives Market, By Component
8.1 Introduction
8.2 One-Component
8.3 Two-Component
9 Global Laminating Adhesives Market, By Technology
9.1 Introduction
9.2 Solvent-Less
9.3 Hot Melt
9.4 Radiation Curable
9.5 Combination Radiation Curable
9.6 Solvent-Based
9.7 Reactive
9.8 Water-Based
9.8.1 Dry Bond Lamination Adhesives
9.8.2 Wet Bond Lamination Adhesives
9.8.3 Water Based Heat Seal Coating
9.8.4 Hardener
9.9 Other Technologies
9.9.1 Ultraviolet Light (UV)
9.9.2 Electron Beam (EB)
10 Global Laminating Adhesives Market, By Application
10.1 Introduction
10.2 Pressure Sensitive Adhesives
10.3 Woodwork & Furniture
10.4 Paper Converting
10.5 Footwear
10.6 Window Films
10.7 Insulation
10.8 Automotive & Transportation
10.9 Building & Construction
10.10 Industrial (Electronics)
10.11 Packaging
10.11.1 Medical/Pharmaceuticals
10.11.2 Food & Beverage
10.11.3 Consumer Products
10.11.4 Publications
10.11.5 Corrugated Cardboard
10.11.6 Folding Cartons
11 Global Laminating Adhesives Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 3M
13.2 Dowdupont Inc.
13.3 Henkel AG & Co. KGaA
13.4 Fujifilm Corporation
13.5 Arkema (Bostik)
13.6 H.B. Fuller Company
13.7 Vimasco Corporation
13.8 Flint Group
13.9 DIC Corporation
13.10 Coim Group
13.11 Ashland Inc.
13.12 Masterbond
13.13 Jubilant Industries
13.14 Dymax Corporation
13.15 Franklin International
List of Tables
1 Global Laminating Adhesives Market Outlook, By Region (2020-2028) ($MN)
2 Global Laminating Adhesives Market Outlook, By Type (2020-2028) ($MN)
3 Global Laminating Adhesives Market Outlook, By Dry Lamination (2020-2028) ($MN)
4 Global Laminating Adhesives Market Outlook, By Wet Lamination (2020-2028) ($MN)
5 Global Laminating Adhesives Market Outlook, By Resin (2020-2028) ($MN)
6 Global Laminating Adhesives Market Outlook, By Epoxy (2020-2028) ($MN)
7 Global Laminating Adhesives Market Outlook, By Acrylic (2020-2028) ($MN)
8 Global Laminating Adhesives Market Outlook, By Polyester (2020-2028) ($MN)
9 Global Laminating Adhesives Market Outlook, By Polyurethane (2020-2028) ($MN)
10 Global Laminating Adhesives Market Outlook, By Other Resins (2020-2028) ($MN)
11 Global Laminating Adhesives Market Outlook, By Polyester Urethane (2020-2028) ($MN)
12 Global Laminating Adhesives Market Outlook, By Aliphatic Urethane (2020-2028) ($MN)
13 Global Laminating Adhesives Market Outlook, By Aromatic Urethane (2020-2028) ($MN)
14 Global Laminating Adhesives Market Outlook, By Vinyl Acetate (2020-2028) ($MN)
15 Global Laminating Adhesives Market Outlook, By Polyvinyl Acetate (2020-2028) ($MN)
16 Global Laminating Adhesives Market Outlook, By Vinyl (2020-2028) ($MN)
17 Global Laminating Adhesives Market Outlook, By Nylon (2020-2028) ($MN)
18 Global Laminating Adhesives Market Outlook, By Adhesive (2020-2028) ($MN)
19 Global Laminating Adhesives Market Outlook, By Silicone (2020-2028) ($MN)
20 Global Laminating Adhesives Market Outlook, By Ethylene (2020-2028) ($MN)
21 Global Laminating Adhesives Market Outlook, By Modified Polyolefin (2020-2028) ($MN)
22 Global Laminating Adhesives Market Outlook, By Synthetic and Natural Rubber (2020-2028) ($MN)
23 Global Laminating Adhesives Market Outlook, By Component (2020-2028) ($MN)
24 Global Laminating Adhesives Market Outlook, By One-Component (2020-2028) ($MN)
25 Global Laminating Adhesives Market Outlook, By Two-Component (2020-2028) ($MN)
26 Global Laminating Adhesives Market Outlook, By Technology (2020-2028) ($MN)
27 Global Laminating Adhesives Market Outlook, By Solvent-Less (2020-2028) ($MN)
28 Global Laminating Adhesives Market Outlook, By Hot Melt (2020-2028) ($MN)
29 Global Laminating Adhesives Market Outlook, By Radiation Curable (2020-2028) ($MN)
30 Global Laminating Adhesives Market Outlook, By Combination Radiation Curable (2020-2028) ($MN)
31 Global Laminating Adhesives Market Outlook, By Solvent-Based (2020-2028) ($MN)
32 Global Laminating Adhesives Market Outlook, By Reactive (2020-2028) ($MN)
33 Global Laminating Adhesives Market Outlook, By Water-Based (2020-2028) ($MN)
34 Global Laminating Adhesives Market Outlook, By Dry Bond Lamination Adhesives (2020-2028) ($MN)
35 Global Laminating Adhesives Market Outlook, By Wet Bond Lamination Adhesives (2020-2028) ($MN)
36 Global Laminating Adhesives Market Outlook, By Water Based Heat Seal Coating (2020-2028) ($MN)
37 Global Laminating Adhesives Market Outlook, By Hardener (2020-2028) ($MN)
38 Global Laminating Adhesives Market Outlook, By Other Technologies (2020-2028) ($MN)
39 Global Laminating Adhesives Market Outlook, By Ultraviolet Light (UV) (2020-2028) ($MN)
40 Global Laminating Adhesives Market Outlook, By Electron Beam (EB) (2020-2028) ($MN)
41 Global Laminating Adhesives Market Outlook, By Application (2020-2028) ($MN)
42 Global Laminating Adhesives Market Outlook, By Pressure Sensitive Adhesives (2020-2028) ($MN)
43 Global Laminating Adhesives Market Outlook, By Woodwork & Furniture (2020-2028) ($MN)
44 Global Laminating Adhesives Market Outlook, By Paper Converting (2020-2028) ($MN)
45 Global Laminating Adhesives Market Outlook, By Footwear (2020-2028) ($MN)
46 Global Laminating Adhesives Market Outlook, By Window Films (2020-2028) ($MN)
47 Global Laminating Adhesives Market Outlook, By Insulation (2020-2028) ($MN)
48 Global Laminating Adhesives Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
49 Global Laminating Adhesives Market Outlook, By Building & Construction (2020-2028) ($MN)
50 Global Laminating Adhesives Market Outlook, By Industrial (Electronics) (2020-2028) ($MN)
51 Global Laminating Adhesives Market Outlook, By Packaging (2020-2028) ($MN)
52 Global Laminating Adhesives Market Outlook, By Medical/Pharmaceuticals (2020-2028) ($MN)
53 Global Laminating Adhesives Market Outlook, By Food & Beverage (2020-2028) ($MN)
54 Global Laminating Adhesives Market Outlook, By Consumer Products (2020-2028) ($MN)
55 Global Laminating Adhesives Market Outlook, By Publications (2020-2028) ($MN)
56 Global Laminating Adhesives Market Outlook, By Corrugated Cardboard (2020-2028) ($MN)
57 Global Laminating Adhesives Market Outlook, By Folding Cartons (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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