According to the new market research report “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″, is projected to grow from USD 2.6 billion in 2019 to USD 3.6 billion by 2024, at a CAGR of 6.9%, during the forecast period.
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Laminating adhesives facilitate the bonding of a substrate on the surface of an object by using heat or pressure to protect or improve its appearance. Laminating adhesives offer excellent chemical and heat resistance, excellent machine performance, excellent transparency, excellent wettability, high initial and final bond strength, high slip, and compatibility suitable for wide range of machine speeds. They are used in packaging materials of snacks, confectionery, meat, cheese, agricultural chemicals, medical products, and so on. The laminating adhesives market size is estimated to be USD 2.5 billion in 2018 and is projected to reach USD 3.4 billion by 2023, at a CAGR of 6.9%. The growth of end-use industries such as packaging, industrial, and automotive & transportation is the key factor driving the laminating adhesives market.
Based on technology, the solvent-based segment is estimated to account for the largest share during the forecast period. Solvent-based laminating adhesives are used in a variety of packaging applications in food, healthcare, and other industries, due to their high bonding performance and anti-contaminant factors. These adhesives offer benefits such as high bond strength, lower emission, lesser cure time, and lesser wastage. The solvent-based laminating adhesive market is expected to grow owing to the high growth of the food packaging industry, which is anticipated to witness high growth during the forecast period.
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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 growth of end-use industries such as packaging, industrial, and automotive & transportation is the key factor driving the laminating adhesives market.
The key market players are Henkel (Germany), H.B. Fuller (US), DowDupont (US), and Arkema (Bostik) (France). These players have adopted various strategies, such as new product launch and merger & acquisition between 2015 and 2019, to enhance their market shares and expand their global presence.
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Henkel is engaged in the consumer and industrial business. The company operates through various segments, including adhesive technologies, beauty care, laundry & home care, and corporate. The company’s adhesive technologies segment is a global leader in the adhesives market across all the industry segments. It manufactures laminating adhesives under this segment. The company has operations in North America, Latin America, Asia-Pacific, Europe, the Middle East, and Africa. Strategically, the company has adopted inorganic strategies to increase its share in the laminating adhesives market.
H.B. Fuller is another leading global adhesives manufacturer, formulator, and marketer. The company operates through five segments, namely, Americas adhesives, construction products, EIMEA (Europe, India, and the Middle East & Africa), engineering adhesives, and Asia Pacific. The company manufactures adhesives for various applications such as assembly, packaging, converting, nonwoven & hygiene, performance wood, flooring, textile, flexible packaging, graphic arts, envelope, and electronics. It markets thermoset-based film adhesive under brand Flexel. H.B.Fuller has a strong customer base and operates in 37 countries of Europe, North America, and APAC.
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