Sustainability concerns over packaging are driving changes in the industry. As part of the EU’s plastic strategy, by 2030, all plastic packaging should be designed to be recyclable or reusable. The right choice of adhesive and laminate is crucial to obtain high-quality recycled plastics to fit recycling streams and create a circular economy for packaging. For instance, Bostik offers a laminating adhesive that is fully certified by Recyclass for compliance with the polyethylene film recycling stream. Companies are promoting solvent-free laminating adhesives as an eco-friendly solution as they do not contain VOCs. The Laminating Adhesives Market is estimated to reach $3.1 billion by 2027 and is poised to grow at an estimated CAGR of 5.9% over the forecast period of 2022-2027.

Laminating Adhesives Market: Water-Based Adhesives is the Leading Segment

On the basis of technology, Laminating Adhesives Market can be segmented into the water-based, solvent-based, hot melt, electron beam curing, ultraviolet curable and specialty laminating adhesives. The market’s leading segment has been evaluated to be water-based laminating adhesives. During the forecast period 2022-2027, the water-based segment is expected to grow with a CAGR of 6.8%. This can be attributed to various reasons such as these adhesives can be used on a variety of film substrates as well as foil and paper. They provide fast cure time and low foaming properties. They are also FDA-compliant for use in food packaging.

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Laminating Adhesives Market: Asia-Pacific is the Leading Region

According to IndustryARC’s analysis, Asia-Pacific holds the largest share in the market. In 2021, the Asia-Pacific region held a 46% share of the total revenue earned by the market globally. The growth of the e-commerce industry in this region has resulted in high consumption of packaging and laminating adhesives. The Asia-Pacific region accounts for nearly 60% of the world's online retail sales. The pandemic-driven buying spree has also contributed to the growth of e-commerce in south-east Asian countries.

Laminating Adhesives Market: Competitive Landscape

Key companies holding major shares in the laminating adhesives market are Ashland Inc., BASF SE, The 3M Company, Toyo-Morton, Ltd., Henkel, Sika AG, Mitsui Chemicals, DIC Corporation, Bostik and H.B Fuller.

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.