The laminating adhesives market is projected to register a CAGR of 6.9%, in terms of value, between 2019 and 2024. The laminating adhesives market is projected to grow from USD 2.6 billion in 2019 to USD 3.6 billion by 2024, at a CAGR of 6.9%, between 2019 and 2024. The increasing urban population is a major factor for the rising demand for products such as medicines, beverages, FMCGs, and other consumer durables. However, stringent government regulations in the chemical industry are expected to hamper the growth of the market. Volatility in raw material prices is likely to affect the overall production cost of laminating adhesives adversely.
The solvent-based technology segment is expected to hold the largest share of the overall laminating adhesives market during the forecast period. The solvent-based technology segment accounted for the largest share of the overall laminating adhesives market in 2018.These adhesives are used in a variety of packaging applications.
The solvent-based laminating adhesives offer properties such as high bond strength, lower emission, and lesser cure time. The solvent-based segment is expected to grow on the backbone of the food packaging industry, which is anticipated to witness high growth during the forecast period.
The laminating adhesives market in the automotive & transportation end-use industry is expected to witness the highest CAGR during the forecast period. Laminating adhesives are preferred as a replacement for nuts & bolts and other conventional techniques owing to the lesser energy spent in the production of adhesives.Also, laminating adhesives provide more bonding strength than conventional techniques.
Laminating adhesives are used in body panels, fenders, grille opening reinforcement (GOR), heat shields, headlamp reflectors, and pick up boxes in automotive. These will drive the demand for laminating adhesives.
APAC laminating adhesives market is estimated to register the highest CAGR during the forecast period. The APAC laminating adhesives market is segmented into China, Japan, India, Indonesia, and Rest of APAC.The APAC region is a lucrative market for laminating adhesives owing to the increasing demand from packaging industries and improving economic conditions.
Product innovations, new research and development projects, and increasing demand from various end-use industries have also fueled the demand for laminating adhesives in APAC.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in laminating adhesives market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments. • By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30% • By Designation: C Level – 20%, D Level – 30%, and Others – 50% • By Region: North America – 40%, APAC – 20%, Europe – 20%, South America- 10%, and the Middle East & Africa – 10%
The key companies profiled in this report are the Henkel (Germany), H.B. Fuller (US), Dow Chemical Company (US), and Arkema (Bostik) (France).
Research Coverage: This report provides detailed segmentation of the laminating adhesives market based on substrate, technology, resin type, application, and region.Technology is divided into solvent-based, solventless, water-based, and others.
With respect to resin type, the laminating adhesives market has been segmented into polyurethane, acrylic, and others.Based on application, the market has been segmented into packaging, industrial, and automotive and transportation.
Based on the region, the market has been segmented into the Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
Key Benefits of Buying the Report From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
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