The laminating adhesives market exhibits high growth potential and is projected to reach a market size of USD 4.1 billion by 2026 from USD 2.9 billion in 2021, at a CAGR of 6.9%. APAC is the largest laminating adhesives market that is projected to register the second-highest CAGR. This high growth is due to the growing demand from the packaging, industrial, and automotive & transportation industries. There is rising awareness about the use of eco-friendly adhesives in this region.
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Polyurethane segment dominates overall laminating adhesives market.
Polyurethane laminating adhesives are made of urethane polymers. Urethane is produced through a chemical reaction between diisocyanate and polyol. Polyurethane laminating adhesives are used in various applications because of their high toughness, abrasion resistance, flexibility (especially at low temperatures), and adhesion to a wide variety of substrates. They possess various properties such as flexibility and strength, low cure temperature, excellent low-temperature resistance, and high environmental resistance. One-component polyurethane adhesives can be elastic or rigid, depending on the structure of thermoset or elastomer and curing techniques. They have relatively high shear and peel strength and are moisture-sensitive. Polyurethane laminating adhesives can be either one-component or two-component. They are used in the automotive & transportation, textile, packaging, and electronics industries. The primary disadvantage of polyurethane laminating adhesives is their high cost.
Solvent-based technology dominates overall laminating adhesives market.
Solvent-based technology involves the use of a significantly higher level of organic solvents than that in water-based technology. The consumption of solvent-based adhesives is declining in packaging applications. However, they are still required in certain applications where solvent-less and water-based or hot-melt-based technologies do not meet technical requirements. Cost, safety, productivity, and compliance with clean air laws have led to a strong preference for water-based or solid/hot-melt-based alternatives. Solvents such as toluene, methyl ethyl ketone, and acetone are hazardous for both human health and the environment. Solvent-based adhesion occurs through the action of the adhesive on the substrate. Solidification occurs with the evaporation of the solvent.
APAC is the largest laminating adhesive market in the forecast period.
APAC is the second-fastest-growing laminating adhesives market. An increase in the demand for laminating adhesives is mainly attributed to high economic growth and heavy investment across industries such as automotive, consumer goods & appliances, building & construction, and manufacturing. Key factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles, and rising consumption of packed products are expected to drive the demand for laminating adhesives during the forecast period.
The key players profiled in the laminating adhesives market report are Henkel AG (Germany), 3M Company(U.S), Arkema (Bostik), Sika AG (Switzerland).
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