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 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 is the most widely used type of laminating adhesive due to its superior adhesive strength, resistance to moisture, flexibility, and resistance to a wide range of temperatures. It is widely used for applications such as carpet backing, upholstery, lamination of paper products, and lamination of textiles. Polyurethane laminating adhesives are available in a variety of viscosities, allowing for different levels of adhesion and flexibility. They are also available in a range of colors, allowing for a variety of decorative options.
Solvent-based laminating adhesives are preferred due to their superior adhesion, fast drying time, and excellent clarity. They are used in a wide range of applications, including lamination of paper, plastic films, aluminum foils, and other substrates. They are also used for specialty applications such as metalized films and for high-temperature and high-pressure lamination. Solvent-based laminating adhesives are generally preferred due to their superior adhesion and fast drying time, which make them suitable for high-speed production processes. In addition, these adhesives provide excellent clarity, which is essential for applications where clarity is important.
The key market players are Henkel AG (Germany), 3M Company(U.S), Arkema (Bostik), Sika AG (Switzerland). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, partnership & agreement to grow in the market. Merger & acquisition was the key strategy adopted by the major players between 2016 and 2021. This strategy strengthened their market position and increased their presence in emerging economies.
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Henkel is engaged in consumer and industrial businesses. The company operates through various segments, including adhesive technologies (adhesives, sealants, and surface treatments for consumer and industrial purposes), laundry & home care (household cleaning products such as laundry detergent and dishwashing liquid), beauty care (beauty & oral care products such as shampoos, toothpaste, hair colorants, and shower products), and corporate.
The company’s adhesive technologies segment is a global leader in the adhesives market across all end-use industries. Henkel manufactures laminating adhesives under this segment. The company has operations in North America, Latin America, APAC, Europe, the Middle East, and Africa.
3M Company offers a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. The company operates in four business segments, namely, safety & industrial, transportation & electronics, healthcare, and consumer. The company manufactures laminating adhesives for various applications through its industrial and consumer segments. It operates with production sites in 70 countries worldwide and offers products and solutions to customers in approximately 200 countries in the Americas, APAC, Europe, and the Middle East & Africa.
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