The laminating adhesives market is projected to register a CAGR of 6.9%, in terms of value, between 2018 and 2023
NEW YORK, Dec. 3, 2018 /PRNewswire/ -- The laminating adhesives market is projected to register a CAGR of 6.9%, in terms of value, between 2018 and 2023.
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The laminating adhesives market size is projected to grow from USD 2.5 billion in 2018 to USD 3.4 billion by 2023, at a CAGR of 6.9%. The market is expected to witness growth owing to the increasing demand for laminating adhesives from various industries such as packaging, industrial, and automotive & transportation. The increasing urban population is a major factor for the rising demand for products such as medicines, beverages, FMCGs, and other consumer durables. However, stringent government regulations in the chemical industry are expected to hamper the growth of the market. Volatility in raw material prices might adversely affect the overall production cost of laminating adhesives.
The solvent-based technology segment is expected to hold the largest share of the overall laminating adhesives market during the forecast period.
The solvent-based technology segment accounted for the largest share of the overall laminating adhesives market in 2017.These adhesives are used in a variety of packaging applications.
The solvent-based laminating adhesives offer properties such as high bond strength, lower emission, and lesser cure time. The solvent-based segment is expected to grow on the backbone of the food packaging industry, which is anticipated to witness high growth during the forecast period.
The laminating adhesives market in automotive & transportation end-use industry is expected to witness the highest CAGR during the forecast period.
Laminating adhesives are preferred as a replacement for nuts & bolts and other conventional techniques owing to the lesser energy spent in the production of adhesives.Also, the laminating adhesives provide more bonding strength than the conventional techniques.
Laminating adhesives are used in body panels, fenders, grille opening reinforcement (GOR), heat shields, headlamp reflectors, pickup box in automotive. These will drive the demand for laminating adhesives.
APAC laminating adhesives market is estimated to register the highest CAGR during the forecast period.
The APAC laminating adhesives market is segmented into China, Japan, India, Indonesia, and Rest of APAC.The APAC region is a lucrative market for laminating adhesives owing to the increasing demand from packaging industries and improving economic conditions.
Product innovations, new research and development projects, and increasing demand from various end-use industries have also fueled the demand for laminating adhesives in APAC.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 42%, Tier 2 – 30%, Tier 3 – 28%
• By Designation: Director level – 30%, C level – 32%, Others – 38%
• By Region: North America – 32%, Europe – 28%, APAC – 27%, South America – 9%, Middle East & Africa – 4%,
As a part of qualitative analysis, the research study provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by market players such as Henkel (Germany), H.B. Fuller (US), Dow Chemical Company (US), and Arkema (Bostik) (France) among others.
Research Coverage
The report defines, segments, and projects the laminating adhesives market based on film material, end-use industry, application, and region.It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and opportunities.
The report analyzes competitive developments, such as new product developments, expansions, and acquisitions, undertaken by the key players to achieve growth in the market.
Key benefits of buying the report
The report will help market leaders/new entrants in this market by providing them the closest approximations of revenue numbers of the overall laminating adhesives market and its subsegments.This report will help stakeholders better understand the competitive landscape and gain insights to position their businesses better and make suitable go-to-market strategies.
It will also help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, and opportunities.
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