According to the report “Laminating Adhesives Market: By Type (Solventless, Water base, Solvent base and others); By Application (Flexible Packaging, Industrial, Automotive and others) & Geography -Forecast (2017-2021)” published by IndustryARC, estimates the market to reach $12.30 billion by 2021.
Growing usage of laminating adhesives in flexible packaging as well as automotive sector is all set to escalate the laminating adhesives market. EU’s economy is largely influenced by the dynamics of developed countries of Western Europe, however, the scenario is changing with increasing investments in Eastern Europe. Laminating adhesives have been extensively used in flexible packaging applications over the past few years across the globe. Amongst the various applications served by flexible packaging, it finds its use majorly in food and beverage industry. Laminating adhesives find use in automotive applications such as interior dash board laminations, door panel laminations, seat laminations, fiber glass laminations, air duct core lamination of air crafts and lamination of composites used in automobiles used to attain weight reduction. Other than this it is used in manufacture of reflective tapes used in air crafts, lamination of medical trays and equipments used in medical industry. Although food and beverage industry holds a major share in flexible packaging segment, laminating adhesives are also used in packaging of pharmaceuticals and production of medical bandages.
Based on types of laminating adhesives available commercially, the laminating adhesives market is segmented into water-base, solvent-base, solvent-less and others. Solvent-base systems are majorly consumed laminating adhesive system owing to the higher application in flexible packaging. Furthermore, solvent-base systems also deliver excellent clarity to packages, adhesion to wide range of substrates, enhanced heat and chemical performance. The key segmentations for laminating adhesives market include type, application and by geography.
Escalating application of laminations in automotive as well as flexible packaging industry coupled with rapidly expanding market of automotive in emerging countries is anticipated to propel the demand for laminating adhesives
The global laminating adhesives market is estimated to grow at a CAGR of 6.42% during the forecast period and will reach $12.30 billion by 2021. Solvent based systems are a course of potentially hazardous emissions called VOCs which react with oxygen and damage the ozone layer. The prevailing environmental concerns are propelling a switch from solvent-based to water-based coatings. Solvent based coatings are less susceptible to environmental conditions such as temperature and humidity during the curing phase. Radiation curable adhesives systems are other type of formulation which are on its developing stage and can replace water-based systems in nearby future owing to hifg performance properties. Escalating demand for automotive & construction is propelling the growth of laminating adhesives in various geographies.
The market of laminating adhesives has been segmented into Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, APAC is the prominent region for laminating adhesives market and is estimated to grow with CAGR of 7.15% during the forecast period. The growth in APAC is attributed to the increasing automotive and constructional activities. However, considerable laminating adhesives demand in Americas along with European countries is likely to boost the overall market.
Sample Companies Profiled in this Report are:
Laminating adhesive companies through its broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the laminating adhesives market. Acquisition of Bostik by Arkema had strengthened Arkema in adhesives sales segment and Arkema declared Bostik as their adhesives brand. Dow chemical company, by introducing new water based adhesives systems into the market thereby trying to take advantage of strongly growing flexible packaging industry. With various product launches, mergers, acquisitions, collaborations and other strategies, these companies are obtaining laminating adhesives market shares in the industry.
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