The global high strength laminated adhesives market is expected to grow with a CAGR greater than 5% during the forecast period. One of the major factors driving the market is the growing demand from the packaging industry. However, environmental concerns regarding the disposal of harmful chemicals during manufacturing are hindering the growth of the market studied.
- Asia-Pacific is expected to account for the highest market share during the forecast period.
- Among the end-user industries, the packaging industry is likely to account for the highest market share during the forecast period.
Key Market Trends
Packaging Industry to Dominate the Market
- Laminating adhesive products are used in stand-up pouches, wrappers, bags, films, primers, and ink binders.
- These products are formulated in order to meet the innovative needs in the flexible packaging industry. High-performance industrial laminating adhesives possesses multiple properties that can be customized to be used in a variety of applications ranging from solar films, sailcloth, flexible food-packaging applications that require high strength film to metal foil laminations.
- Moreover, these adhesives also offer a good wet ability and lower solvent residues that are suitable for high-solid, low viscosity, and high-speed dry composite processing technology.
- Hence, owing to the above-mentioned reasons, the packaging industry is likely to dominate the market studied during the forecast period.
Asia-Pacific to Dominate the Market
- The high strength laminated adhesives market in Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
- Within the Asia-Pacific region, the markets in China and India are anticipated to witness maximum year-over-year growth, across the forecast period.
- One of the major reasons driving this growth is the increasingly shifting preference of Middle-class families and other busy consumers from these countries towards packaged foods due to their offering of high quality and fresh foods.
- Additionally, there has been increasing demand for high strength laminated adhesives from the southeast Asian countries in the recent past for usage in applications like packaging, industrial, etc.
- Hence, owing to the above-mentioned factors, Asia-Pacific is expected to dominate the market studied during the forecast period.
The global high strength laminated adhesives market is moderately fragmented as majority of the market share is divided among many players. Some of the key players in the market include 3M, Henkel AG & Co. KGaA, Ashland, DuPont, and H.B. Fuller Company, among others.
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