Laminating Adhesives Market Set to Focus on Bio Raw Material Development to Reduce Costs
Laminating Adhesives Marketdeals with the development of lamination techniques with the help of adhesive materials. Adhesives are the materials used for joining and assembling of different materials surfaces. Laminate Adhesive uses both dry and wet lamination techniques. It has its applications in various industrial and domestic uses.
Based on the type, the Laminating Adhesives Market is segmented into solventborne, solventless, waterborne, and others. Among all the types the solventless lamination process is having more demand. Growing demand for adhesives materials into major end use industries is expected to remain key growth driver for the market.
The demand for adhesive laminate is being increased due to rising need for flexible packaging for consumer durables and pharmaceutical industries. Also, lamination adhesives for flexible packaging find wide usage in packaging of food products. Increasing demand from aforementioned industries and growing population needs, in countries like India, China and Japan, are anticipated to be the key growth factors of the Laminating Adhesives Market.
High capital cost and energy consumption is expected to hinder the Laminating Adhesives Market growth and pose challenges to industry participants over the forecast period. Time consuming process for bond and cure development is projected to limit market growth. But, technological advancements and upgradation is expected to create lucrative opportunities for industry participants.
Asia-Pacific is dominating the Laminating Adhesives Market, due to its large industrial base consuming laminating adhesives in various applications. North America is holding the second position followed by Europe. Asia-Pacific is expected to remain as the fastest growing region driven by expanding industrial based and increased number of domestic players in vertical market segments, such as flexible packaging, industrial applications and automotive applications in the region.
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