September 16, 2022 15:12 ET | Source: Facts & Factors Facts & Factors
NEW YORK, US, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Laminating Adhesives Market Size, Share, Growth Analysis Report By Application (Medical Packaging, Food Packaging, Industrial Packaging, and Others), By Product Type (Water-Based, and Solvent Based), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Laminating Adhesives Market size & share was valued at approximately USD 3.12 billion in 2021. The market is expected to grow above a CAGR of 5.78% and is anticipated to reach over USD 4.35 billion by 2028.”
The report analyses the Laminating Adhesives market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Laminating Adhesives market.
Laminating adhesives are run on polyurethane and polyester technology made of raw materials like solvents, acids, and glycols. Currently laminating adhesive solutions are more in demand from the flexible packaging industry across the globe and more players are entering the market encouraged by the vast consumer database. The product can be used across industries like pharmaceutical, medicine, and food with the current demand for non-constrained packaging options. The global laminating adhesives market is witnessing significant demand in the solvent-free section as it has a less environmental impact but the current market for solvent-based lamination adhesives is also extremely strong.
Water-based laminating adhesives generally have high thermal resistance and reduced levels of odor along with a lesser foaming tendency. The market is witnessing a significant rise in UV laminating adhesives as well which is relatively newer but is gaining momentum. They are highly recommended for products that require quick cure time.
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Key Insights from Primary Research
The global laminating adhesives market is projected to grow because of the growing food packaging market, especially the flexible packaging sector. The rise in demand can be attributed to the growing population which is not just restricted to one country, even though the rate may be higher. Moreso, there is a rising trend of incorporating packaged food items into the diet which is witnessed in urbanized or metropolitan cities where the lifestyle tends to be relatively hectic with little personal time. The growing income and subsequent spending capacity of the general population is another factor contributing to the growth in demand for packaged food as it has become easier to afford these items unlike some years ago. As per the Office for National Statistics’ (ONS) Household Finances Survey, the median household disposable income in the United Kingdom (UK) was £31,400 by the end of the financial year 2021, which was an increase of 2% from the previous year.
The fluctuating prices of raw materials are projected to restrict the global market growth while the growing efforts to curb the impact of raw material prices may provide growth opportunities. The use of environment-polluting basic materials is anticipated to challenge global market growth.
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Laminating Adhesives Market: COVID-19 Impact Analysis
The global market size witnessed losses during Covid-19 owing to the closure of manufacturing units. Since laminating adhesives require constant supervision during the production process, the absence of a sufficient workforce hindered the manufacturing cycle. There were limitations in delivering the finished goods because of supply chain disruptions and overall reduced demand for the product.
The report contains qualitative and quantitative research on the global Laminating Adhesives Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Laminating Adhesives market include:
Browse the full “Laminating Adhesives Market Size, Share, Growth Analysis Report By Application (Medical Packaging, Food Packaging, Industrial Packaging, and Others), By Product Type (Water-Based, and Solvent Based), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/laminating-adhesives-market
Laminating Adhesives Market: Segmentation Analysis
The global laminating adhesives market is segmented by product type, application, and region.
Based on product type, the global market is divided into water-based and solvent based, with water-based laminating adhesives leading the global market and may cover up to 89.85% of the market share by 2028.
Based on application, the global market is segmented into medical packaging, food packaging, industrial packaging, and others. The food packaging segment leads the global market growth with the packaging of food products global market at a current value of USD 339 Billion.
Asia-Pacific is projected to lead the global laminating adhesives market driven by the excellent initiative undertaken by the governments to attract foreign investment regions like China, Japan, and India to name a few. Since the production of laminating adhesives requires large facilities, the countries are a hotspot for building such units. As per data published on official websites, foreign direct investment (FDI) in India was USD 50.61 Billion in 2018 which rose by 27.17% in 2019 and reached a value of USD 64.26 Billion. The FDI value in the Chinese market was around USD 149 Billion in 2020 as per a recent World Investment Report submitted by United Nations Conference on Trade and Development.
The growth in North America is expected to be driven by the increasing medical device packaging industry. The regional market of Europe may be driven by Germany especially due to the growth of the automotive sector where laminating adhesives are widely used. The market for automobiles is extremely huge and is showing excellent signs of growth. For instance, according to a 2019 report by the French Institute of International Relations, Germany was responsible for producing around 75% of luxury cars.
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The global Laminating Adhesives market is segmented as follows:
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