The global demand for laminating adhesives is driven by the increasing demand in packaging industry. The use of laminating adhesives is increasing in flexible packaging as it provides the desired performance for different applications by laminating two or more layers of material with a polymeric adhesive. Expanding packaging industry with increasing consumption of packaged food products such as cooked beans, frozen food, candy, ready-to eat food, soup, and pet foods due to improved shelf life and convenience is driving the market growth. Additionally, the consumption of the product is increasing in automotive interiors such as door paneling, headliners, interior trim, rear window shelves, and seat heaters.
Furthermore, increasing preference for digitally printed labels due to improved benefits over paper labels is likely to offer significant opportunities to the players operating in the global laminating adhesives market.
Some of the prevailing trends noticed in the global laminating adhesives market includes product development for digital printing and flexible packaging applications. For instance, in November 2016, Ashland, Inc signed a collaboration agreement with HP to develop laminating adhesives for digital printing applications.
Global Laminating Adhesives Market has been segmented by type, resin, application, and region.
Based on type, the market has been segmented into solvent-based, solvent free, water-based, hot melt, radiation curable, and others.
Based on resin, the market has been segmented into polyether urethane, polyester, polyester urethane, acrylic, and others.
Based on application, the market has been segmented into packaging, automotive interiors, construction materials, floor basecoat, electrical materials, and others. Packaging has been further sub-segmented into food, medical, and others.
The laminating adhesives market has been studied with respect to five regions—North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The market in Asia-Pacific accounted for the largest share of the laminating adhesives market in 2017 and is expected to continue its dominance during the forecast period. This growth can be attributed to the growing packaging industry on account of surging demand for ready-to-eat food products coupled with rising per capita disposable income. Additionally, increased spending on healthcare coupled with rising health awareness has resulted in increased demand for medicines and protein supplements, which is likely to fuel the demand for laminating adhesives in medical packaging applications.
Europe is another prominent market for laminating adhesives due to the rising demand from major end-use industries such as pharmaceuticals, food & beverage, and automotive. Expanding healthcare industry with increasing spending on healthcare coupled with the expanding geriatric population is bolstering market growth.
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Some of the key players in the global laminating adhesives market are Henkel AG & Co. KGaA (Germany), 3M (US), DowDuPont (US), Coim Group (Italy), Ashland (US), Bostik (US), H.B. Fuller Company (US), Vimasco Corporation (US), Toyo-Morton, Ltd (Japan), Flint Group (Luxembourg), and LD Davis (US).
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