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High Demand in Packaging Sector Pushes Worldwide Sales of Laminating Adhesives Market to US$ 6.2 Billion by The End of 2033 | Future Market Insights, Inc.

Thursday, 02 March 2023 09:00 AM

Future Market Insights, Inc.

NEWARK, Del: The global laminating adhesives market is projected to amass a revenue of US$ 6.2 billion by 2033, with sales growing at a restored and positive CAGR of 6.1% from 2023 to 2033. Historically, the target market recorded an average CAGR of 4.7 % from 2017 to 2022.  The laminating adhesive market will likely reach an estimated US$ 3.5 billion in 2023.

The estimated growth for the forecast period can be attributed to heightened demand from various end-use sectors like packaging, healthcare, food and beverages, manufacturing, and pharmaceuticals, among others. The packaging industry, particularly, generates strong demand for laminating adhesives. Lamination adhesive is an essential part of the manufacturing process of flexible packaging goods.

The rising awareness of the advantages of flexible packaging such as its lightweight aspect, easier handling, less space requirement, smoother transportation, extended shelf life, protection from damage, and improved printability further promotes the demand for flexible packaging which, in turn, has a positive impact on the laminating adhesive market.

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Since packing is one of the important factors that manufacturing enterprises take into consideration before venturing into the production process, the market for laminating adhesives looks at positive growth in the forthcoming years.

In the past few years, more and more businesses in the manufacturing and industrial sectors have been opting for flexible packaging which is transforming the structure of the packing sector. Thus, flexible packaging is taking over the rigid packaging sub-sector.

This augurs well for laminating adhesives as they are eco-friendly, durable, and also come in solvent-free varieties. Hence, the expansion of the flexible packaging sector and rising demand for eco-friendly adhesives act as primary growth drivers for the laminating adhesive market.

Moreover, immense demand for laminating adhesives from food and beverage packaging, medical packaging, and expansive use of the product across various industries like industrial, automotive, and transportation sectors will underpin the growth of the laminating adhesive market during the projection period.

Key Takeaways:

  • Water-based laminating adhesives will gain rapid traction over the next couple of years owing to the implementation of strict environmental regulations and the high demand for miniaturized electronic products.
  • The growing consumption of packaged food will fuel the use of laminating adhesives in the food packaging sector.
  • The laminating adhesives market in the US will reach a value of US$ 729.9 million by 2033.
  • Asia Pacific will emerge as an opportunistic pocket for the laminating adhesive market owing to surging manufacturing activity in China, Japan, and India. 

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Competitive Landscape 

3M Company, Coim Group, H.B. Fuller Company, Ashland Global Specialty Chemicals Inc., Evonik Industries AG, Flint Group, Henkel AG & Co. KGaA, L.D. Davis Industries Inc., and Sika AG, among others, are some of the key players in the laminating adhesives market profiled in the full version of the report.

Significant market players are focusing on product development and the launch of new products. These firms also engage in various organic and inorganic business strategies to gain a competitive edge.

Future Market Insights, Inc., Thursday, March 2, 2023, Press release picture

Key Segments Covered in the Report

By Product Type:

  • Solvent-based
  • Water-based

By Application:

  • Food Packaging
  • Medical Packaging
  • Industrial Packaging
  • Other End-use

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • The Middle East & Africa (MEA)

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More Insights into Laminating Adhesives Market 

FMI offers the latest, detailed, and unbiased analysis of the global laminating adhesives market, providing historical data from 2017 to 2022 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type, application, and region.

According to the reports, based on segmentation, the water-based laminating adhesives will grow at 6.0% between 2023 and 2033. This growth is due to more and more manufacturers shifting to water-based technology across multiple sectors like food, construction, electronics, and many others. In terms of application, the packaged food sector will lead the market with a growth rate of 4.6% during this assessment period.

Based on region, the laminating adhesive market in Asia Pacific will exhibit strong growth. It is estimated that the Asia Pacific will lead the global laminating adhesives market. Increasing manufacturing activities in China, India, and Japan aid the growth of the regional laminating adhesives market.

The food and beverages, construction, and electronics industries in these countries will generate high demand for the market. Hence, the laminating adhesives market in Asia Pacific will dominate the international marketplace and contribute substantially to the overall market growth.

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Table of Content

1. Executive Summary | Laminating Adhesives Market

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

Explore FMI's Extensive Ongoing Coverage in Chemicals & Materials Domain

Hot Melt Adhesives Market Trends: Global demand for hot melt adhesives is expected to register a CAGR of 5.3% by accumulating a market value of US$ 12,675.5 Million. As of 2022, the market is expected to be valued at US$ 7,562.9 Million.

Electronics Adhesives Market Growth: Increasing global population levels and the rise in per capita income of population have supported the sales of automobiles with comfort and safety features through electronic systems. This in turn has bolstered the prospects of the electronics adhesives market.

Silicone Adhesives And Sealants Market Size: As per the recently released global silicone adhesives and sealants market report released by FMI, the net worth of the market in the current year 2022 is found to be around US$ 6.5 Bn, and over the forecast years, the market is projected to register a CAGR of 6.5%.

Polyurethane Adhesives Market Value: According to Future Market Insights research, during the projected period, the global polyurethane (PU) adhesives market is set to top a valuation of US$ 9.63 Bn in 2022, and further expand at a CAGR of 6.1% during 2022-2032.

Aerospace Adhesives and Sealants Market Share: According to Future Market Insights' most recent market study, the global market for Aerospace Adhesives and Sealants is expected to reach US$ 921.4 Mn in 2022 and grow at a CAGR of 5.1% between 2022 and 2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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