Laminating Adhesives Market To Generate Revenue worth $5,661.9 Million by 2030

The global laminating adhesives market is projected to generate USD 5,661.9 million revenue by 2030, advancing at a CAGR of 6.0% during 2024–2030. The key factors driving the market are the rapidly expanding flexible packaging, e-commerce, consumer durables, and pharmaceuticals sectors, increasing urban population, and growing demand for customer-friendly packaging.Laminating adhesives are extensively used in flexible packaging to merge two or more packaging webs with the help of a bonding agent. These webs are in the form of papers, films, or aluminum foils. Laminating adhesives are applied to the less-absorbent substrate of the web and then pressed on to the second web. Since the flexible packaging demand is growing, the laminating adhesives market is expected to progress in the forecast period.

There are various application of these adhesives, especially in the packaging of food products, such as ready-to-eat foods, raw and cooked meats, and fresh vegetables. The food industry requires a laminating adhesive that is long-lasting and protects products from external damage, whilst preserving their freshness. They are also used in boil-in-bag food packs and microwavable food packs.

Moreover, these bonding agents are extensively used in insulation, such as in metalized films or foils, for various applications, including ceiling panels and wall insulation. Here, they are generally favored for their fire-retardant nature.

Moreover, they are used for the manufacturing of durable and sterilized packaging for medical devices and equipment. Furthermore, laminating adhesives are used in the production of blister packs or clamshell packaging.

Water-Based Laminating Adhesives Are Increasingly Being Used

The water-based category held a significant share, of 30%, in 2023, as these types of adhesives use water as the primary solvent or carrier for the active ingredients. They are becoming increasingly prevalent as they have an environment-friendly nature, low volatile organic compound (VOC) emissions, and the ability to bond an extensive variety of materials, such as plastic, paper, and wood, which makes them a versatile solution for numerous applications. Additionally, they form strong bonds that are resistant to heat, chemicals, and water itself.

Moreover, Europe held a significant share in 2023. The market in the region is mainly driven by the growing demand for specialty tapes containing laminating adhesives in the electrical and electronics, automotive, and healthcare sectors. The automotive industry in Europe is expected to demonstrate significant growth during the forecast period on account of the rising popularity of economical and eco-friendly cars, as well as the increasing focus on lightweight and hybrid or electric vehicles. In order to reduce weight, automotive manufacturers are substituting metals with plastics and carbon fibers, which cannot be bonded by nuts and bolts and welds, but with laminating adhesives.

Moreover, in the MEA, the growing demand for these materials is being driven primarily by the expansion of the construction industry. In Saudi Arabia, for instance, the government's 10th development plan has encouraged spending on different industries. The demand for homes in the country has increased as a result of its population growth.

Major players operating in the laminating adhesives market include Henkel AG & Co. KGaA, 3M Company, H.B. Fuller Company, The Dow Chemical Company, Arkema, Ashland Inc., DIC Group, L.D. Davis Industries Inc., Vimasco Corporation, and Coim Group.