Laminating Adhesives Market to Reach USD 7.01 Billion by 2033; Growing Demand for Green and Sustainable Adhesives to Propel Growth

The global laminating adhesives market is anticipated to grow from USD 3.91 billion to USD 7.01 billion in 10 years. Manufacturers increasingly prioritize environmental sustainability, leading to the development of eco-friendly laminating adhesives. This aspect addresses the rising demand for green and recyclable packaging materials, thus contributing to market expansion. Additionally, the increasing adoption of digital printing and on-demand packaging will boost market revenue growth over the forecast years.

Newark, April 09, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 3.91 billion in 2023 global laminating adhesives market will reach USD 7.01 billion by 2033. The laminating adhesives market can capitalize on the rising demand for high-performance films in various industries such as food packaging, automotive, and electronics. Innovations in adhesive technology to enhance bonding strength, temperature resistance, and barrier properties will be pivotal. Targeting sectors requiring specialized films like OLED displays or flexible electronics offers niche opportunities. Furthermore, the integration of smart features in packaging, such as RFID tags, QR codes, or temperature-sensitive indicators, is gaining traction for product authentication, supply chain tracking, and consumer engagement. Laminating adhesives compatible with smart substrates and maintaining adhesion integrity under varying conditions will be essential. Collaborations with electronics and packaging companies can leverage this emerging trend.

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In addition, the healthcare sector presents promising opportunities for laminating adhesives, particularly in medical device manufacturing and pharmaceutical packaging. Adhesives compliant with stringent regulatory standards, including biocompatibility and sterilization requirements, are in demand. Developing antimicrobial or antifungal adhesive formulations for medical applications can address infection control concerns. Besides, embracing digitalization and Industry 4.0 principles can streamline production processes, improve quality control, and enable predictive maintenance in adhesive manufacturing. Implementing IoT-enabled sensors, data analytics, and automation enhances operational efficiency and reduces downtime. Offering digitalized solutions for adhesive selection, application optimization, and performance monitoring adds value to customers.

Key Insight of the Global Laminating Adhesives Market

Asia Pacific is expected to witness the highest market growth over the forecast period.

Asia Pacific is witnessing a rising demand for flexible packaging solutions in various end-use sectors, such as food and beverage, healthcare, personal care, and e-commerce. Laminating adhesives are critical for bonding layers of flexible packaging materials, including films, foils, and papers. The region’s shift towards flexible packaging is expected to fuel the demand for laminating adhesives. Furthermore, rising disposable personal income levels and changing lifestyles are leading to increased consumption of consumer goods in Asia Pacific. Laminating adhesives are widely used in producing consumer goods packaging, including food packaging, cosmetics packaging, and household product packaging. The growing demand for consumer goods is expected to drive the demand for laminating adhesives in the region. Additionally, infrastructure development initiatives in the Asia Pacific, including transportation infrastructure, urban development projects, and construction activities, create opportunities for laminating adhesives in applications such as architectural panels, insulation materials, and flooring. The region’s ongoing infrastructure development drives the demand for laminating adhesives. Moreover, Asia Pacific is a major automotive manufacturing and electronics production hub. Laminating adhesives are used in automotive interior trim bonding, electronic device assembly, and other applications in these industries. The region’s expanding automotive and electronics sectors are expected to drive the demand for laminating adhesives. Besides, government initiatives to promote industrial growth, innovation, and investment in key sectors such as manufacturing, packaging, and construction support the growth of the laminating adhesives market in Asia Pacific. Incentives, subsidies, and infrastructure development projects create a conducive business environment for laminating adhesives manufacturers.

In 2023, the polyurethane segment held the largest market share at 46.18% and a revenue of 1.81 billion.

The resin type segment is split into acrylic, polyurethane and others. In 2023, the polyurethane segment held the largest market share at 46.18% and a revenue of 1.81 billion.

In 2023, the solvent-based segment dominated the market with the largest share of 48.31% and revenue of 1.89 billion.

The technology segment is divided into solvent-based, water-based and others. In 2023, the solvent-based segment dominated the market with the largest share of 48.31% and revenue of 1.89 billion.

In 2023, the packaging segment dominated the market with the largest share of 61.47% and revenue of 2.40 billion.

The application segment is divided into automotive & transportation, industrial, packaging and others. In 2023, the packaging segment dominated the market with the largest share of 61.47% and revenue of 2.40 billion.

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Advancement in market

In May 2023: Arkema has finalized the acquisition of Polytec PT, a distinguished German firm renowned for its expertise in adhesives tailored for batteries and electronics applications. Arkema aims to fortify Bostik’s product portfolio through this strategic move, enhancing its ability to cater to the rapidly expanding batteries and electronics sectors. This acquisition represents a seamless integration into the Group’s overarching strategy, aligning with its vision to become a comprehensive system provider. Arkema endeavours to empower its customers to pursue sustainable innovations within the batteries and electronics markets by offering a broader spectrum of solutions.

In April 2023: Bostik, a renowned expert in adhesives catering to industrial, construction, and consumer sectors worldwide, has introduced Herberts LF686/H186, a solvent-free adhesive designed specifically for the Chinese market. Engineered with precision, Bostik Herberts LF686/H186 is tailored for rigid packaging applications, particularly for materials like aluminium foil, PET/VMPET, and aluminium plates. These packaging materials find extensive use across various fields such as pharmaceuticals, food and beverage, and FMCG, making the adhesive a versatile solution for diverse packaging needs.

Market Dynamics

Driver: Rising disposable income and urbanization.

Economic growth, rising disposable personal incomes, and urbanization are synergistically fuelling a significant surge in demand for consumer goods across various sectors, including packaged foods, personal care products, and household items. Individuals have more purchasing power due to economic prosperity and higher disposable incomes, so they are increasingly inclined towards convenience and quality in their purchases. This shift in consumer behaviour is propelling the need for attractive and functional packaging materials to preserve the quality and appeal of these goods. Laminating adhesives play a crucial role in the production of such packaging materials. They are essential in bonding together different layers of packaging substrates to create durable, visually appealing, and functional packaging solutions. With the growing requirement for packaged goods, the demand for laminating adhesives is witnessing a corresponding uptick. Manufacturers are thus experiencing heightened pressure to produce laminating adhesives that meet the stringent requirements of the packaging industry in terms of strength, durability, aesthetics, and environmental sustainability. Moreover, the increasing urbanization trend is leading to changes in lifestyle preferences, with urban consumers gravitating towards packaged and convenience-oriented products. This further amplifies the demand for laminating adhesives, as packaging is pivotal in enhancing product visibility, shelf appeal, and brand differentiation in urban retail environments.

Restraint: Cost competitiveness.

Price sensitivity among consumers and end-users presents a significant challenge to the widespread adoption of laminating adhesives, particularly in markets or applications where cost considerations play a pivotal role. Despite notable performance advantages, laminating adhesives often incur higher upfront costs than mechanical fastening methods or alternative bonding techniques. In price-sensitive market segments, where consumers prioritize affordability over other factors, the higher initial investment required for laminating adhesives can be a deterrent. This reluctance to incur additional expenses upfront can lead to hesitation in adopting laminating adhesives, especially when cheaper alternatives are readily available. While laminating adhesives offer enhanced durability, improved aesthetics, and superior bonding strength, the perceived value may only sometimes justify the higher price point for some consumers and end-users. In industries where profit margins are tight, and cost optimization is paramount, the inclination towards cost-effective solutions often outweighs the desire for premium features offered by laminating adhesives.

Opportunity: Integration of digital technologies.

Leveraging digital technologies such as data analytics, automation, and artificial intelligence (AI) can significantly enhance operational efficiency, product development, and customer engagement for laminating adhesives manufacturers. By implementing these advanced digital solutions, companies can revolutionize various aspects of their operations, ultimately leading to improved competitiveness in the market. One critical area where digital technologies can significantly impact is inventory management. Using data analytics, manufacturers can gain useful insights into their inventory levels, demand patterns, and supply chain dynamics. This factor enables them to optimize inventory levels, minimize excess stock, and replenish timely materials. By implementing automated inventory management systems, companies can streamline the entire process, reducing manual errors and saving time and resources. Moreover, digital solutions can also enhance production optimization efforts. By integrating AI and automation into manufacturing processes, companies can achieve higher precision, consistency, and productivity. AI algorithms can analyze extensive real-time production data, identify inefficiencies, predict equipment failures, and optimize production schedules. This factor not only improves overall production efficiency but also helps in reducing downtime and maintenance costs. In addition to operational improvements, digital technologies can also transform product development processes. Data analytics can provide helpful insights into customer choices, market trends, and performance feedback, enabling manufacturers to develop innovative adhesive products tailored to meet evolving customer needs. By leveraging AI-driven design and simulation tools, companies can accelerate product development cycles, optimize formulations, and improve product performance.

Challenge: Technological complexity.

Developing advanced laminating adhesive formulations entails a substantial commitment to research and development, necessitating significant investment. The intricate nature of the technology, along with the continuous evolution of market demands, poses challenges for manufacturers regarding resource allocation and time-to-market. Moreover, staying abreast of market trends and customer preferences is crucial for ensuring that adhesive formulations remain relevant and competitive. Manufacturers must invest in ongoing innovation to adjust to maintain a competitive edge. However, the complexity of developing advanced laminating adhesives means that achieving desired performance characteristics can take time and effort. Manufacturers must allocate sufficient resources and time to conduct comprehensive testing and refinement to meet quality standards and regulatory requirements.

Some of the major players operating in the global laminating adhesives market are:

• 3M
• Arkema
• Ashland Inc.
• Coim Group
• DuPont
• DIC Corporation
• Dymax Corporation
• Evonik Industries AG
• Flint Group
• H.B. Fuller
• Henkel AG
• L.D.Davis
• Pidilite Industries Limited
• Sika AG
• Sun Chemical
• Toyo-Morton Ltd.
• Vimasco Corporation

Key Segments cover in the market:

By Resin Type

• Acrylic
• Polyurethane
• Others

By Technology

• Solvent-based
• Water-based
• Others

By Application

• Automotive & Transportation
• Industrial
• Packaging
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion) and volume (Tons). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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