Laminating Adhesives Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2453 | Last Updated On: Sep 02 2022 | Available Formats

> Global Laminating Adhesives Market Expected to reach a high CAGR of 8.5% 2029: DataM Intelligence

Global Laminating Adhesives Market is segmented By Technology (Solvent-Based, Water-Based, Solvent-Less, Others), By End-Users (Packaging (Food & Beverage, Pharmaceuticals, Consumer Products), Industrial (Insulation, Window Films, Electronics, Other Applications), Automotive & Transportation, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[200 Pages Report] The Global Laminating Adhesives Market is expected to grow at a high CAGR of 8.5% during the forecast period (2022-2029).

Laminating Adhesives Market - Strategic Insights

Metrics

Details

Market CAGR

 8.5%

Segments Covered

By Technology, By End-Users and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Laminating adhesives are used for bonding metal substances and plastics with each other, they are also used in packing cheese, meat, coffee, tea, pharmaceuticals etc. They are also used for the lamination of window glass, dashboard of the car etc. They are divided based on the technology as solventless, solvent-based and water-based adhesives. 

Market Dynamics

The major factors driving the Global Laminating Adhesives market are the rising demand from the packaging industry. Many new products are also launched which is the factor for the growth of the market of Laminating Adhesives.

The demand from the packaging, the automobile and the transport industries is driving the market growth of Laminating Adhesives.

There is an increasing demand for Laminating Adhesives in the flexible packaging industry for packing tea, cheese, medical and pharmaceutical products, agricultural products, meat, coffee etc. The laminating adhesives are resistant to heat and chemicals, they also have excellent machine performance. The laminating adhesives also have high bond strength and excellent wettability. The food processing sector has the highest market share for flexible packaging. Now during covid-19, the demand for packed food products increased which increased the demand for flexible packaging and hence the demand for laminating adhesives was increased.  Laminating Adhesives are also used in the automobile industry as it is preferred over nuts and bolts and traditional methods for the assembly of various parts of the interior of the cars. It is also preferred due to its high bond strength and lower energy consumption. They are used in the lamination of headlamp reflectors, body and door panels, heat shields,  dashboard etc. They are also used in the lamination of aircraft.

New laminating adhesive products launches are driving the market growth of Laminating Adhesives

Many laminating adhesive products are launched recently which is driving the growth of the market like DIC Corporation developed the DICDRY LX-RP series of laminating adhesives for use in flexible packaging and are made from poly ethylene terephthalate (PET) bottles in 2020.

Uflex Limited launched the 2K solvent-based PU laminating adhesive under FLEXBON Brand for use in food packaging and other applications in April 2018 and Brilliant Polymers launched many new innovative solvent-free adhesives for flexible packaging applications like Brilliant S621 /S279, Brilliant S631 / S310, Brilliant S717  in August 2018.

The FLEXBON 162R/162 is a solvent-based product, It also has good wettability and solvent release during lamination and provides good adhesion.

Brilliant S621 / S279 is the new low viscosity solvent-free adhesive system used for the high-speed laminations of metalized films.

Brilliant S631 / S310 is used for the lamination of metalized films and thin gauge poly ethylene films.

Brilliant S717 is a solvent-free adhesive having a single component and is used for lamination with paper and board and also used in other industrial applications.  It is user friendly and offers low viscosity and a fast cure rate in laminates.

Many companies are also launching solventless laminating adhesives like Bostik launched solventless adhesives HERBERTS LF794/H180 and LF728/H128 in 2020.

The high capital cost, energy consumption, and stringent regulations regarding the use of lamination adhesives are hampering the market growth of laminating adhesives.

COVID-19 Impact Analysis

The COVID-19 pandemic has affected many industries due to the disruption in the supply chain, as there were full or partial lockdowns in many countries of the world and restrictions across borders and closure of airports hampered world trade. The automobile sector was also severely affected due to covid-19 as there was disruption of supply chain and people preferred health over their jobs and it was not possible for companies to operate with proper covid norms and it was also difficult for staff and workers to work with social distancing norms. According to the International Organization of Motor Vehicle Manufacturers report, the global automobile production declined by around 16% during covid-19 in 2020 and even car sales dropped in 2020 by 13.8% in comparison to 2019. Due to the less demand from the automobile industry for laminating adhesives, the market declined. During the lockdown in many countries, people preferred packed food products and ready to eat food items which increased the demand for packaging and thus the demand for laminating adhesives increased. The food processing sector has the highest market share for flexible packaging of more than 50% market share. China and India are the second largest and third largest markets in food packaging.

Segment Analysis

The Global Laminating Adhesives Market is segmented based on the Technology, End-Users and Region.

Based on the Technology, the Global Laminating Adhesives market is segmented into solvent-based, solventless, water-based, and others.

The solvent-based segment was valued at US$ XX billion in 2020 and a growth in market size is predicted leading to a market size worth US$ XX billion by 2028, growing at a CAGR of XX% during the forecast period (2021-2028). The solvent-based laminating adhesives had the highest market share as solvent-based technology is used for laminating adhesives quite frequently because they provide higher bond strength, lower emission, and lesser cure time and they can also be applied easily. They are used in packaging applications across the food industry and pharmaceutical industry.

The water-based laminating adhesives are composed of vinyl or acrylic latexes with water dispersed urethane resins which contains ionic groups and aziridine or water-dispersible isocyanates as an adhesion promoter or cross-linker which makes it more adhesive and resistant against heat and chemicals.  It is expected that the water-based laminating adhesives will have a higher market share in the future as many manufacturers are using water-based technology instead of solvent-based technology due to the growing environmental and sustainability concerns. Water-based technology also has some disadvantages like High Production costs which is hampering the market for laminating adhesives.

Many companies are also launching solventless laminating adhesives like Bostik launched solventless adhesives HERBERTS LF794/H180 and LF728/H128 in 2020 and Brilliant Polymers launched many new innovative solvent-free adhesives for use in flexible packaging like Brilliant S621 /S279, Brilliant S631 / S310, Brilliant S717  in August 2018.

Based on End-Users, the Global Laminating Adhesives Market is segmented into packaging, industrial, automotive & transportation.

Geographical Analysis

Based on the Region, Global Laminating Adhesives Market is segmented as - North America, Europe, Asia-Pacific, The Middle East, Africa and South America.

The Asia-pacific region had a market share of XX% in 2020 and is expected to hold XX% by 2028. The Asia Pacific has the highest market share among all the regions as there is an increasing demand for laminating adhesives in the packaging industries such as medical packaging, food packaging, tea, and coffee packaging. They are also used for the flexible packaging industry for paper, film etc. Even the demand for solvent-free products is increasing due to environmental and sustainability concerns. The market is expected to grow in the future as countries like India and China are rapidly progressing in the packaging and electronics industries. China and India are the second largest and third largest markets in food packaging. Some of the major countries of this region are India, China, Japan and Indonesia.

Competitive Landscape

The Global Laminating Adhesives market is fragmented with key global players in the market and there are many large companies in the market. Some of the major companies contributing to the market's growth are- Henkel AG & Co., H.B. Fuller Company, 3M, Dowdupont Inc, Ashland Inc, Arkema (Bostik), DIC Corporation, Coim Group, Vimasco Corporation, Flint Group and many others

Mergers and Acquisitions, expansions, joint ventures etc increases competition in the market like Dupont has announced the establishment of a new adhesive manufacturing facility in Zhangjiagang, Jiangsu Province in East China on 20 April 2021.

New products, services launched also increase competition between companies and many companies are developing innovative technologies like DIC Corporation developed the DICDRY LX-RP series of laminating adhesives for use in flexible packaging and are made from polyethylene terephthalate (PET) bottles and Many companies are also launching solventless laminating adhesives like Bostik launched solventless adhesives HERBERTS LF794/H180 and LF728/H128 in 2020.  Partnerships and Collaborations between companies are also making the market more competitive.

Divestments and investments by the company and split of companies are also making the market quite competitive like DowDupont was split into Dow Inc, Dupont Inc and Corteva in 2019.

Dowdupont Inc

Overview:

Dupont Inc is an American chemical company that is a 2007 merger of Dow chemical and E. I. Du Pont de Nemours and company. The headquarters of the company is located in Wilmington, Delaware, USA. The company was split into three publicly traded companies in 2018 which are Dupont, Dow Inc and Corteva. Corteva deals with agriculture which includes Dupont and Dow’s seed and crop protection unit, Dow Inc deals with materials science which includes the Performance Materials unit of Dupont along with Dow's Performance Plastics, Materials and Chemicals, Infrastructure and Consumer Solutions and Dupont deals with speciality products which include Dupont’s Health & Nutrition, Industrial Biosciences. Before the split, Dupont was the world’s largest chemical company. According to the fortune 500, DowDupont was ranked 35 in 2019 and the market value of the company as of 29th March 2018 was USD 148 billion. Dupont De Nemours Ltd is ranked 144 on the list of fortune 500 companies and the market value of the company is USD 41.3 billion. Dow chemicals was ranked 82 on the fortune 500 companies list and the market value of the company as of 31st March 2021 was USD 47 billion. Edward D Breen is the CEO of Dupont.

Product Portfolio:

  • PACACEL Solvent-less Adhesive
  • ADCOTE 102A
  • ADCOTE 1217D
  • MOR-FREE 1390
  • MOR-FREE 421
  • ROBOND L-2150
  • ROBOND L-330
  • AQUA-LAM 444A

Key Development

  • DowDupont was split into Dow Inc, Dupont Inc and Corteva in 2019.
  • Dupont appointed the new CEO Edward D. Breen in 2020.
  • Dupont has announced the establishment of a new adhesive manufacturing facility in Zhangjiagang, Jiangsu Province in East China on 20 April 2021.

Financial Overview

According to the fortune 500, DowDupont was ranked 35 in 2019 and the market value of the company as of 29th March 2018 was USD 148 billion. Dupont De Nemours Ltd is ranked 144 on the list of fortune 500 companies and the market value of the company is USD 41.3 billion. The major shareholders of the company are The Vanguard Group, Inc, SSgA Funds Management, Inc, BlackRock Fund Advisors with market shares of 7.68%, 5.22%, 4.28% respectively. The company Dow Chemicals was ranked 82 on the fortune 500 companies list and the market value of the company as of 31st March 2021 was USD 47 billion.

 Why Purchase the Report?

  • Visualize the composition of the Global Laminating Adhesives Market products in terms of Technology and End User options, highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the Global Laminating Adhesives market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of Global Laminating Adhesives Market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The Global Laminating Adhesives market report will provide access to approximately 53 market data tables, 44 figures, and 200 pages

Target Audience 2022

  • Equipment suppliers/ Buyers
  • Technology Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Emerging Companies
  • Research professionals
  • Distributors
  • Manufacturers

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