Laminating Adhesives Global Market Report 2024

The laminating adhesives market involves the sale of laminating adhesives, which are used to produce films with new functions by laminating different films and for joining and assembling different material surfaces. These adhesives play a crucial role in bonding a plastic film to the surface of a substrate through heat and pressure, protecting or enhancing the appearance of the object. Laminating adhesives find wide applications in transportation, packaging, industrial settings, and flexible packaging for food, medicines, medical supplies, and more.

The main resin types in laminating adhesives include polyurethane, acrylic, and others. Polyurethane is produced through a reaction between diisocyanate and polyol, offering high toughness, abrasion resistance, flexibility (especially at low temperatures), and adhesion to various substrates. Acrylic laminating adhesives, made of acrylic emulsions, are known for their UV stability. Acrylic is a transparent plastic material with exceptional strength, stiffness, and optical clarity. The 'others' segment includes laminating adhesives made of materials such as styrene-butadiene and others. Laminating adhesives use various technologies, including solvent-based, solvent-less, water-based, and other technologies. These adhesives find applications in industries such as automotive, industrial, packaging, medical, food, and others.

The laminating adhesives market research report is one of a series of new reports that provides laminating adhesives market statistics, including laminating adhesives industry global market size, regional shares, competitors with a laminating adhesives market share, detailed laminating adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the laminating adhesives industry. This laminating adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The laminating adhesives market size has grown rapidly in recent years. It will grow from $2.72 billion in 2023 to $3 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth observed in the historical period can be attributed to factors such as the growth of the packaging industry, increased demand in food and beverage packaging, the boom in e-commerce, a focus on sustainable packaging practices, and developments in the agricultural industry.

The laminating adhesives market size is expected to see rapid growth in the next few years. It will grow to $4.58 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The projected growth in the forecast period can be attributed to the growth in the pharmaceutical sector, the expansion of renewable energy, developments in construction and building materials, advancements in the automotive sector, and growth in the woodworking industry. Key trends expected in the forecast period involve the adoption of biodegradable packaging, compatibility with digital printing, the use of smart packaging materials, the application of eco-friendly adhesives, and the implementation of pharmaceutical serialization.

The laminating adhesives market is poised to experience growth, particularly fueled by the expansion in the automobile industry. Laminating adhesives play a crucial role in various applications within automobiles, including structural, holding, and sealing functions in components like door panels, inserts, armrests, load floors, seat back panels, and headliners. The global motor vehicle market is anticipated to witness an increase from $2,115.1 billion in 2020 to $3,231.0 billion in 2025, reflecting a significant uptick in the utilization of laminating adhesives in the automotive sector.

The laminating adhesives market is witnessing an upswing due to heightened demand from the packaging industry. The packaging sector, involving the design, production, and delivery of packaging materials and solutions, relies heavily on laminating adhesives for their versatility. These adhesives contribute to product protection, visual appeal enhancement, ensuring safety, and meeting the evolving demands of sustainability. In 2021, the U.S. flexible packaging industry reported substantial sales growth, reaching an estimated $39 billion, up from $34.8 billion the previous year, indicating a positive trajectory for the packaging industry and, consequently, the laminating adhesives market.

Major players in the laminating adhesives market are taking innovative strides by developing products like solvent-free laminating adhesives to address the increasing demand for sustainable packaging solutions. Toyo-Morton Ltd., a Japanese manufacturer, introduced a new line of solvent-free laminating adhesives designed for metallized multilayer packaging, emphasizing environmental friendliness, safety, and superior performance.

The strategic partnerships are becoming a hallmark in the laminating adhesives market, exemplified by Henkel AG & Co. KGaA's collaboration with Cyclos-HTP Institute (CHI) in November 2022. This partnership leverages the strengths and resources of both entities to provide consumers with comprehensive and coordinated services. The focus is on sustainability and a holistic approach to the circular economy, aligning with Henkel's commitment to addressing the evolving demands of customers and the industry.

In August 2021, Arkema S.A., a French specialty chemicals and advanced materials company, acquired Ashland’s performance adhesive businesses, with estimated sales of around $360 million. This strategic move aligns with Arkema Group's vision to become a pure specialty materials player by 2024, emphasizing sustainable and high-performance solutions. Ashland's innovative technology solutions and a diverse range of adhesives for flexible packaging complement Arkema's objectives in the laminating adhesives market.

Major companies operating in the laminating adhesives market include Henkel AG & Co., Ashland Global Specialty Chemicals Inc., BASF SE, Bostik, DuPont de Nemours Inc., Evonik Industries AG, H.B. Fuller Company, Merck KGaA, Morchem SA, Sika AG, Sun Chemical, 3M Company, The Dow Chemical Company, DIC Corporation, Minnesota Mining and Manufacturing Company, Adhesive Films Inc., Avery Dennison Corporation, Coim Group, Dow Inc., Drytac Corporation, Franklin International, Huntsman Corporation, Illinois Tool Works Inc., Jowat SE, Konishi Co. Ltd., Lintec Corporation, Lohmann Adhesive Tape Group, Master Bond Inc., Nitta Corporation, Paramelt B.V., SABA Dinxperlo B.V., Scapa Group PLC, Toyo-Morton Ltd., Valspar Corporation, Vibac Group S.p.A., Vimasco Corporation

Asia-Pacific was the largest region in the laminating adhesives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the laminating adhesives market share during the forecast period. The regions covered in the laminating adhesives market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the laminating adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The laminating adhesives market consists of sales of UV laminating adhesives. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this laminating adhesives market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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