HYDERABAD, India and WILMINGTON, Delaware, August 23, 2017 /PRNewswire/ --
The Report "Laminating Adhesives Market: By Type (Solvent-base, Solvent-less, Water-base and others); By Application (Flexible packaging, Industrial, Automotive and Others); By Geography - Forecast (2017 - 2021)" published by IndustryARC, estimates the market to reach $12.30 billion by 2021.
Following the rapid economic growth in Asia during the last decade, demand for laminating adhesives in APAC has risen sharply and the market is anticipated to reach $12.30 Billion by 2021
Growing usage of laminating adhesives in flexible packaging as well as automotive sector is all set to escalate the laminating adhesives market. The EU's economy is largely influenced by the dynamics of developed countries of Western Europe, however, the scenario is changing with increasing investments in Eastern Europe. Laminating adhesives have been extensively used in flexible packaging applications over the past few years across the globe. Amongst the various applications served by flexible packaging, it finds its use majorly in food and beverage industry. Furthermore, Laminating adhesives find use in various automotive applications such as lamination of interior dash board, door panels, seats, fiber glass, lamination of composites and many more. Also, it is used in air duct core lamination of aircrafts. Additionally, it is used in the manufacture of reflective tapes used in aircrafts, lamination of medical trays and equipment used in medical industry. Although food and beverage industry holds a major share in flexible packaging segment, laminating adhesives also find its application in packaging of pharmaceuticals as well as production of medical bandages.
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Based on types of laminating adhesives available commercially, the market is segmented into water-base, solvent-base, solvent-less and others. Solvent-base systems are one of the majorly consumed adhesive formulations, owing to their higher application in flexible packaging industry. Furthermore, solvent-base systems also deliver excellent optical clarity to packages as well as adhesion to a wide range of substrates along with enhanced heat and chemical performance.
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Escalating application of laminations in automotive and flexible packaging industries in emerging countries is anticipated to propel the demand for laminating adhesives
The global laminating adhesives market is estimated to grow at a CAGR of 6.42% during the forecast period and will reach $12.30 billion by 2021. Solvent based systems are a source of potentially hazardous emissions called VOCs which react with oxygen and damage the ozone layer. The prevailing environmental concerns are propelling a switch from solvent-based to water-based coatings. Moreover, solvent based coatings are less susceptible to environmental conditions such as temperature and humidity during the curing phase. Radiation curable adhesives systems are other type of formulation which are in its developing stage and can replace water-based systems in nearby future owing to high performance properties. Adding to the trend, escalating demand for automotive and construction industries is propelling the growth of laminating adhesives in various geographies.
The market of laminating adhesives has been segmented into Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, APAC was the prominent region for laminating adhesives market and is estimated to grow with CAGR of 7.15% during the forecast period. The growth in APAC is attributed to the increasing automotive and constructional activities. However, considerable laminating adhesives demand in Americas along with European countries is likely to boost the overall market.
The Prominent Players in this Market Include
- Bostik (Arkema)
- Henkel AG & Company
- H.B.Fuller Company
- Ashland Inc.
- 3M Company
Laminating adhesive companies through their broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the laminating adhesives market. Acquisition of (Bostik) by Arkema (Bostik) had strengthened Arkema in adhesives sales segment and Arkema declared Bostik as their adhesives brand. Dow chemical company, by introducing new water based adhesives systems into the market thereby trying to take advantage of strongly growing flexible packaging industry. With various product launches, mergers, acquisitions, collaborations and other strategies, these companies are obtaining laminating adhesives market shares in the industry.
Browse Related Reports:
- Packaging Adhesives Market http://industryarc.com/Report/11715/packaging-adhesives-market.html
- Lamination Systems Market http://industryarc.com/Report/15760/lamination-systems-market.html
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