Solventless Laminating Adhesive Market to Grow with a CAGR of 4.18% through 2028
Growing demand for flexible packaging
and increasing use of solventless laminating adhesive in the electrical &
electronics industry are the major factors driving the Global Solventless
Laminating Adhesive market in the forecast period 2024-2028
According to TechSci Research report, “Solventless
Laminating Adhesive Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Solventless Laminating Adhesive Market has valued at USD 488.75 million in 2022
and is anticipated to project robust growth in the forecast period with a CAGR
of 4.18% through 2028.
The global solventless laminating adhesive market has
witnessed significant developments in recent years, driven by several key
trends and innovations. These developments reflect the evolving needs of
industries such as packaging, flexible laminates, and labels.
The increasing preference for flexible packaging
solutions, driven by changing consumer preferences and sustainability concerns,
has fueled the demand for solventless laminating adhesives. Manufacturers are
focusing on developing adhesive formulations that provide strong bonds for
flexible packaging materials while reducing the environmental impact.
Sustainability has become a central focus in the
adhesive industry, including solventless laminating adhesives. Recent
developments include the introduction of eco-friendly, low-VOC (volatile
organic compounds) formulations that meet stringent environmental regulations.
These formulations cater to the demand for sustainable packaging solutions and
align with the broader industry trend toward green and recyclable materials.
Innovations in solventless laminating adhesive
technology have led to improved adhesive performance. Recent developments
include adhesives that offer better adhesion to a wider range of substrates,
ensuring strong bonds even in challenging packaging applications. Enhanced heat
resistance and barrier properties are also priorities for adhesive
manufacturers.
Manufacturers are increasingly offering customized
solventless laminating adhesive solutions to meet the unique needs of different
industries and applications. This approach allows brands to optimize their
packaging designs for specific product requirements, ensuring maximum
functionality and shelf appeal.
The rise of digital printing in the packaging industry
has led to the development of solventless laminating adhesives that are
compatible with various digital printing technologies. These adhesives enable
high-quality, flexible packaging with vibrant graphics and variable data
printing.
Ongoing research and development efforts are leading
to technological advancements in solventless laminating adhesive formulations.
These advancements include improved cure times, reduced waste, and enhanced adhesive
properties, contributing to greater efficiency and cost-effectiveness for
manufacturers.
In summary, recent developments in the global
solventless laminating adhesive market reflect a shift towards sustainable and
high-performance solutions to meet the evolving needs of industries like
packaging and flexible laminates. The industry's focus on customization,
compatibility with digital printing, and ongoing technological advancements is
expected to drive further growth in the solventless laminating adhesive market
as it continues to adapt to changing market dynamics and environmental
considerations.
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The Global Solventless Laminating Adhesive Market is
segmented into type, application, regional distribution, and company.
Based on the application, The food packaging segment
is projected to experience rapid growth during the forecast period. Food
packaging is a critical application area for solventless laminating adhesives.
Consumers prioritize food safety, freshness, and sustainability. Solventless
laminating adhesives are well-suited to meet these requirements, as they
provide secure and airtight seals that preserve the quality of packaged food
products. Additionally, they are often preferred in applications involving
microwaveable or heat-sealed food packaging due to their resistance to heat.
The Asia-Pacific region stands as a dominant force in
the global Solventless Laminating Adhesive market, with several emerging
economies playing pivotal roles. Notably, China and India have emerged as major
drivers of this market's growth.
The Asia-Pacific region has firmly established its
dominance in the global market share of laminating adhesives. This supremacy
can be attributed to the burgeoning manufacturing activities and a growing
requirement for flexible packaging in countries like China, India, and Japan.
Asia-Pacific stands as the largest consumer within the
packaging industry, primarily driven by the substantial demand for food in
major economies such as China, India, and Japan. China, although a late entrant
into the packaging sector, has witnessed remarkable growth over the decades,
owing to factors like a burgeoning middle-class population, improved
supply-chain systems, and the emergence of e-commerce activities.
The growth of the packaging industry in China is
further propelled by heightened attention to food safety and quality,
particularly in the post-pandemic era. This renewed focus is expected to boost
the food processing industry, subsequently driving down the demand for
packaging in the years to come.
India, another significant consumer of packaged foods
and beverages, anticipates substantial growth in its packaging industry, with
projections from the Packaging Industry Association of India (PIAI) indicating
a 22% growth during the forecast period. The demand for frozen foods in India
is also projected to witness approximately 17% growth in the coming years.
Additionally, with the Indian government's emphasis on the food processing
sector, there is an expected surge in the supply of processed agri-foods, which
is likely to stimulate demand for the packaging industry and, consequently,
contribute to the growth of the laminating adhesives market. Given these
factors and the supportive stance of governments, the Asia-Pacific region is
poised to witness a significant surge in laminating adhesives consumption
during the forecast period.
Major companies operating in Global Solventless
Laminating Adhesive Market are:
- Ashland Inc
- Dow Inc
- Songwon International AG
- Bostik SA
- Morchem SA
- DIC Corp
- ACTEGA Kelstar, Inc.
- Toyochem Co Ltd
- Toyo-Morton Ltd
- BASF SE
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“The Global Solventless Laminating Adhesive Market is
experiencing robust growth driven by several key factors. Growing demand for
flexible packaging solutions, particularly in the food and beverage industry,
is a primary driver. As consumers increasingly opt for convenience and
sustainable packaging, solventless laminating adhesives are gaining prominence
for their eco-friendly and high-performance attributes. Additionally, the
market is benefiting from the rising emphasis on sustainable packaging
practices and the adoption of low-VOC formulations. This aligns with global
efforts to reduce environmental impact and comply with stringent regulations.
Despite these positive trends, challenges such as the
higher cost of solventless adhesives and a lack of awareness among some users
hinder market growth. However, the market is adapting by offering water-based
solventless laminating adhesives, addressing both cost concerns and
sustainability demands. Therefore , the Global Solventless Laminating Adhesive
Market is poised for continued growth, driven by the expanding flexible
packaging sector, eco-conscious consumer preferences, and advancements in
adhesive technology,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Solventless Laminating Adhesive Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented by Type (Isocyanate, Polyol), By
Application (Food Packaging, Beverage Packaging, Others), By Region, and By
Competition”, has evaluated the future growth potential of Global Solventless
Laminating Adhesive Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Solventless
Laminating Adhesive Market.
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