Laminating Adhesives Market Size to Inflate 1.5X Through 2027
The packaging industry is undergoing a paradigm shift - from rigid to multilayer flexible packaging systems, owing to their benefits such as lightweight, prolonged service life, impact resistance, and space-efficient. Lamination adhesives are among the emerging adhesive solutions in flexible packaging. Following a promising growth curve, the global consumption of laminating adhesives will surge nearly 1.5X over 2019-2027. The market growth is receiving further impetus from favorable government regulations and rising consumer awareness towards adoption of eco-friendly adhesives.
Global Laminating Adhesives Market Scenario
- The global laminating adhesives will surpass its US$ 3 Bn mark in 2021.
- The market is expected to register a CAGR of 5.6% over the forecast period (2019-2029), primarily attributable to surging demand for lightweight, and durable packaging solutions.
- Water based laminating adhesives continue to shape revenue growth; solvent based laminating adhesives to see decline in adoption.
- Food packaging remains key application area; industrial packaging to offer new revenue lines.
- The intensifying need to achieve better logistics & transportation efficiency, and regulatory compliance would drive the adoption of laminating adhesives.
- Asia Pacific (APAC) would stay at the forefront; market players to generate stable returns from North America and Europe.
KEY FACTORS SHAPING LAMINATING ADHESIVES MARKET
Steady Growth of Construction Industry
Growing construction activities in developing regions, such as Asia-Pacific, Latin America, and Middle East & Africa expected to propel the growth of the global laminates adhesives market. On the country level, countries in the Middle East & Africa, such as Saudi Arabia and the UAE, among others and countries in the Asia Pacific, such as India and Indonesia, among others are expected to focus on increasing their construction and infrastructure spending during the forecast period. Among developed countries, the construction industry in the U.S. is expected to witness significant growth, primarily due to economic recovery. This, in turn, is expected to fuel the demand for laminating adhesives in the construction industry in the country.
COVID-19 Impact on Construction Industry to Hamper Laminating Adhesives Demand
Enhancement of public transportation facilities, including railways and roadways and an increasing number of housing & infrastructure projects, are anticipated to increase investment towards road development projects and tunneling projects across countries, such as India, South Africa, Brazil, and Mexico, among others.
However, the coronavirus (COVID-19) pandemic is having a measurable impact on almost every industrial sector worldwide. Large-scale lockdowns leading to in-home isolation have spurred shortage of raw material supply and workers. Particularly in China - origin of the COVID-19 pandemic - majority of the manufacturing operations have been put under standstill. This is adversely affecting the construction industry and, in turn, putting strain on laminating adhesives market growth.
Increasing Trend of Miniaturization of Electronic Devices
Owing to the increasing advancement in technology, the large number of the population are attracting towards the smaller mechanical, electronics product and devices. Therefore, miniaturization is expected to play a significant role in terms of technology as well as increasing demand for high-quality electronic devices among consumers. Moreover, increasing consumer spending power and expectation towards new and smaller advanced devices expected to increase preference for companies for developing new adhesives for various end-use industries. This factor is expected to surge in the demand for laminating adhesives in different end-use industries.
Rising Raw Material Prices
There has been noteworthy growth in prices of the raw material involved in the production of structural adhesives, owing to which manufacturers have had to pass on the additional cost to the consumers to sustain in an ever-competitive market for laminating adhesives. Over the recent past, several major players have announced an increase in prices for their laminating adhesives mainly solvent-based adhesives.
This has impacted the global demand for structural adhesives, as there has been an oversupply of the product from China, which has caused the prices to fall. Additionally, rising raw material prices have put extra pressure on manufacturers.
Laminating Adhesives Market: Structure Analysis
- Several players are contributing to the global laminating adhesives market, with the number of players gradually increasing.
- Key market players such as Bayer AG are focusing on expanding their product footprint and distribution channels to satiate the growing demand.
- Market players are entering into long-term agreements with major OEMs to supply laminating adhesives for automotive and aerospace manufacturing.
Market Value in 2018
US$ 2.8 Bn
Product Type, Application
North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA
The DOW Chemical Company, Huber Group, Arkema S.A., TOYOCHEM CO. LTD., Ashland Global Specialty Chemicals Inc., SAPICI S.p.A., H.B. Fuller Company, 3M, Sika AG, Henkel AG & Company, KGaA, and Bayer AG
Water Based Laminating Adhesives Capture over 90% Value ShareWater based laminating adhesives are a cost-effective solution for interior as well as short-term exterior graphic applications. Absence of volatile organic compounds (VOC) in water based laminating adhesives are enabling their broader usage in industries that are significantly influenced by strict government norms such as construction, and automotive industries. These adhesives are creating over 90% total returns to shareholders, and the figure would increase at a healthy pace over the years ahead. Furthermore, this study highlights subsequent drop in the adoption of solvent based laminating adhesives.
APAC - Flourishing Industry-adjacent Sectors Boost Market Growth
The laminating adhesives market in Asia Pacific (APAC) would hit US$ 2 Bn during the latter half of forecast period. China represents the manufacturing hub of consumer electronics products including, tablets, smartphones, OLED TVs, while India is seeing notable upsurge in automobile production, and construction spending. These regional industries are aggressively moving toward flexible packaging formats. Coupled with supportive government policies, these factors are propelling laminating adhesives market in APAC. The transportation equipment markets in both, Europe and North America will experience healthy growth, as the automotive and aerospace industries are turning to adhesive technologies to meet fuel efficiency requirements.
* This data is only a representation. Actual data may vary and will be available in report.
Miniaturization of Electronic Products - Potential Growth Avenue
Given subsequent tech-enabled advancements, consumers are expecting a greater scale of miniaturization in various electronic products. As electronic gadgets continue to reduce in size, the demand for compact and highly efficient components with multitude of functions becomes quintessential. Laminating adhesives help eliminate heat while ensuring a heat sink to circuitry as well as allow bonding of touch screens sans the need for hardware, thereby, decreasing stress, and weight. The consumer electronics industry is witnessing astounding growth, especially in developing regions. As such, laminating adhesive manufacturers must tap this opportunity for better profits and margins.
Water based laminating adhesives maintain their lead
Solvent based laminating adhesives to falter
High usage in food packaging
Adoption in medical packaging to soar
How Growth will Unfold
Food safety is among the primary concerns worldwide and packaging converters are in a constant pressure to develop laminates that comply with various food regulations. Laminating adhesives are a perfect option for general purpose applications such as film-to-metallized, and film-to-film coatings for bakery, and cheese packaging. In addition, their water based variant enables packaging converters to boost productivity as well as limit the usage of solvents, thereby reducing costs, and maintaining healthier environment. Furthermore, manufacturers of laminating adhesives would reap around US$ 2 Bn from food packaging applications by 2027.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Future Market Insights (FMI) recently published a new report on the laminating adhesives market that includes global industry analysis for 2013-2018 & forecast for 2019-2027, and offers a comprehensive assessment of the most market dynamics. After conducting thorough research on the historical as well as current growth parameters of the market, growth prospects of the market are obtained with maximum precision.
Laminating Adhesives Market Taxonomy
The global laminating adhesives market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
- Solvent Based
- Water Based
- Food Packaging
- Medical Packaging
- Industrial Packaging
- Other End-use
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
The report commences with the executive summary of the laminating adhesives market, which includes a summary of the key findings and statistics of the market. It also includes the global market outlook, supply-side as well as demand-side trends, recommendations, etc.
In this chapter, readers can find the definition and detailed segmentation of the market, which will help them understand basic information about the market. This section highlights the inclusions and exclusions, which help readers understand the scope of the market report. The report also includes definitions, which will help readers understand the scope of the market report.
This section includes key inclusions of the report. It includes drivers, restraints, opportunities, market trends, regulations, and key developments in the market.
The chapter also includes global market volume (units) and value (US$ Mn) analysis for 2013-2018 and forecast for 2019 - 2027. This section explains emerging trends in the global market and market snapshot. This section also highlights the price of laminating adhesives in several regions throughout the globe. The pricing benchmark for manufacturer- and distributor-level pricing is analyzed in this section.
Based on product type, the market is segmented into Solvent based laminating adhesives and water based laminating adhesives. In this chapter, readers can find information about key trends and developments in the market and market attractiveness analysis based on product type.
Based on application, the market is segmented into food packaging, medical packaging, industrial packaging and other End-use. In this chapter, readers can find information about the key trends and developments in the market and market attractiveness analysis based on application.
This chapter explains how the market will grow across several geographic regions such as North America, Latin America, Europe, South Asia, East Asia, MEA, and Oceania.
This chapter includes a detailed analysis of the growth of the North America market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on technologies and countries in North America.
This chapter includes a detailed analysis of the growth of the Latin America market, along with a country-wise assessment that includes Brazil, Mexico, and others. Readers can also find regional trends, regulations, and market growth based on technologies and countries in Latin America.
This chapter includes a detailed analysis of the growth of the Europe market, along with a country-wise assessment that includes Germany, France, the U.K., Spain, Italy, Russia, NORDICS, and the Rest of Europe. Readers can also find regional trends, regulations, and market growth based on technologies and countries in Europe.
This chapter includes a detailed analysis of the growth of the market in India, ASEAN, and the Rest of SA. Readers can also find regional trends, regulations, and market growth based on technologies and countries in APEJ.
This chapter includes a detailed analysis of the growth of the market in China, Japan, and South Korea. Readers can also find regional trends, regulations, and market growth based on technologies and countries in APEJ.
This chapter provides information about how the market will grow in the countries of the Middle East & Africa (MEA), GCC Countries, South Africa, Turkey, North Africa, and the Rest of MEA during the forecast period of 2019 - 2027. Readers can also find regional trends, regulations, and market growth based on technologies and countries in MEA.
This chapter provides information about how the market will grow in the countries of the Middle East & Africa (MEA), Australia and New Zealand during the forecast period of 2019 - 2027. Readers can also find regional trends, regulations, and market growth based on technologies and countries in MEA.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the market, along with their market presence analysis by region and product portfolio. Readers can find a comprehensive list of all the prominent stakeholders in the market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are The DOW Chemical Company, Huber Group, Arkema S.A., TOYOCHEM CO., LTD., Ashland Global Specialty Chemicals Inc., SAPICI S.p.A., H.B. Fuller Company, 3M, Sika AG, Henkel AG & Company, KGaA, Bayer AG, and among others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the laminating adhesives market.
How the research was conducted?
- C - Level Executives
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- Current Market Dynamics and Challenges
- Yesteryear Trends
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and long-Term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity of Assumptions
- Company Press Releases
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- Government Websites and Publications
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Primary Interview Splits