DUBLIN--(BUSINESS WIRE)--The "Laminating Adhesives Market by Technology (Solvent-based, Solventless, and Water-based), Resin (Polyurethane and Acrylic), End-Use Industry (Packaging, Industrial, and Automotive & Transportation), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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.
- Rising Demand From the APAC Region
- Increasing Demand for Customer-Friendly Packaging
- Growing Demand From Packaged Food Industry
- Performance Limitations of Water-Based Adhesives
- Growing Trend of Water-Based & Solvent-Less Adhesives
- Implementation of Stringent Regulatory Policies
- Arkema (Bostik)
- Ashland Inc.
- Beijing Comens New Materials Co., Ltd.
- Bond Tech Industries
- Coim Group
- DIC Corporation
- Dowdupont Inc.
- Dymax Corporation
- Flint Group
- Franklin International
- Fujifilm Corporation
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Huber Group
- Paramet B.V.
- Sapici S.P.A.
- Sika AG
- Toyo-Morton Ltd.
- Uflex Limited
- Vimasco Corporation
- Weilburger Holding GmbH.
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