Water-Based Laminating Adhesives Market Report 2024

This Water-Based Laminating Adhesives market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The water-based laminating adhesives market size has grown rapidly in recent years. It will grow from $2.71 billion in 2023 to $3.02 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth observed in the historical period is linked to a rising demand for environmentally friendly adhesives, an increase in awareness regarding sustainable packaging solutions, expansion in flexible packaging applications, development within the construction sector, and an upsurge in e-commerce packaging.

The water-based laminating adhesives market size is expected to see rapid growth in the next few years. It will grow to $4.67 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. In the forecast period, growth can be attributed to the increasing demand for packaged food, a rise in the use of packaging in the food and beverage industry, a growing presence in automotive applications, heightened demand within furniture manufacturing, and a greater application in textiles and apparel. Key trends during this forecast period encompass technological innovations, flexible packaging, curing technologies, biodegradable packaging, and eco-friendly adhesives.

The substantial growth of the e-commerce sector is anticipated to drive the expansion of the water-based laminating adhesives market in the future. E-commerce refers to commercial activities conducted online, including the sale of products and services. This sector is thriving due to factors such as the convenience of online shopping, widespread internet availability, advancements in mobile technology, personalized customer experiences, and the ability for businesses to connect with a global audience while maintaining lower operational costs than traditional retail. Water-based laminating adhesives play a vital role in e-commerce by securely bonding packaging materials, ensuring durability, product protection, and eco-friendly solutions during shipping and handling. For instance, a report from the United States Census Bureau in August 2024 estimated that U.S. retail e-commerce sales for the second quarter of 2024 reached $291.6 billion, marking a 1.3% (±0.7) increase from the first quarter. Total retail sales during the same period were estimated at $1.82 trillion, reflecting a 0.5% (±0.2) rise compared to the first quarter. Consequently, the growth of e-commerce is propelling the water-based laminating adhesives market.

Key players in the water-based laminating adhesive market are focusing on innovative advancements such as water-based ink technology to enhance environmental sustainability and adhesion properties. This technology helps reduce volatile organic compounds (VOCs) and improves the sustainability of water-based laminating adhesives. For example, in January 2024, Sun Chemical, a U.S.-based chemical company, introduced the SunStrato AquaLam Gen2 ink series, a cutting-edge water-based solution designed for high-quality laminated and reportable flexible packaging. These inks provide superior printability and bond strength while lowering VOC and carbon dioxide (CO2) emissions by 18-20% compared to solvent-based options. This launch marks a significant step toward more sustainable and safer solutions in the water-based laminating adhesive market.

In July 2024, Kodiak, a specialty chemical company based in the U.S., acquired Southern Adhesives and Coatings for an undisclosed amount. This acquisition underscores Kodiak's commitment to delivering comprehensive solutions across various industries by integrating Southern Adhesives’s technologies with Kodiak’s manufacturing capabilities, research and development resources, and dedicated sales team. This merger is expected to create new growth opportunities within the channel. Southern Adhesives and Coatings is a U.S.-based manufacturer specializing in water-based laminating adhesives.

Major companies operating in the water-based laminating adhesives market are BASF SE, 3M Company, Fujifilm Corporation, Evonik Industries AG, Parker Hannifin Corporation, Arkema S.A., Sika AG, DIC Corporation, H.B. Fuller Company, Nippon Shokubai Co. Ltd., Henkel AG & Co. KGaA, Flint Group, tesa SE, Pidilite Industries Limited, Paramelt B.V., Franklin International Inc., Weilburger Graphics GmbH, Jowat SE, Kleiberit Adhesives GmbH & Co. KG, Morchem Inc., SAPICI S.p.A, Collano Adhesives, BondTech Industries Inc., Vimasco Corporation.

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

The countries covered in the water-based laminating adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Water-based laminating adhesives are adhesives that primarily use water as the solvent to dissolve or disperse their adhesive components. They are frequently employed to bond various substrates in applications such as packaging and printed materials. These adhesives are environmentally friendly due to their low levels of volatile organic compounds (VOCs) and are safer to handle than solvent-based alternatives. They usually dry through the evaporation of water and can be easily cleaned up with water.

The principal types of water-based laminating adhesives include polyurethane, acrylic, ethylene vinyl acetate (EVA), styrene butadiene rubber (SBR), and polyvinyl alcohol (PVA). Polyurethane-based water-based laminating adhesives are versatile and provide strong adhesion for a wide array of materials. They can be either solventless or solvent-based and are suitable for both film-to-film and film-to-paper applications. These adhesives are used in packaging, industrial sectors, automotive and transportation, furniture, consumer products, and electronics.

The water-based laminating adhesives market research report is one of a series of new reports that provides water-based laminating adhesives market statistics, including water-based laminating adhesives industry global market size, regional shares, competitors with a water-based laminating adhesives market share, detailed water-based laminating adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the water-based laminating adhesives industry. This water-based 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 water-based laminating adhesives market consists of sales of latex-based adhesives, modified starch adhesives, natural rubber adhesives, epoxy resin adhesives and hydrocolloid 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 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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