In 2023, the global laminating adhesives market was valued at USD 3,785.8 million, and the market size is expected to reach USD 5,661.9 million by 2030, growing at a compound annual growth rate of 6.0% between 2024 and 2030. This growth of the market can be credited to the fast development in the consumer durable, flexible packaging, e-commerce, and pharmaceutical sectors, the surge in the urban populace, and the increase in the demand for customer-friendly packaging.
In 2023, the Polyurethane category had the largest share, of 45%, this is mainly because this kind of adhesive offers tremendously robust adhesion, flexibility, and fortification. Polyurethane adhesives also provide a cohesive forte, together with flexibility, which makes them strong and last long. Furthermore, they bond with substrates on which other types of adhesives do not perform and give tough bonds at low temp, for getting high bond strength.
During the projection period, the solvent-based category is projected to showcase substantial development, with a CAGR of 6.2%, in the global laminating adhesives industry. They are utilized in many areas, like medical devices and packaging, because of their solid resistance to several environmental reasons and strong bonding to diverse substrates.
In 2023, the APAC region had the largest market share of more than 50%. This can be credited to the fact that industrial activities in China, India, and Japan are increasing strongly; therefore, the requirement for flexible wrapping is growing, thus propelling the use of covering adhesives.
Moreover, the advancements in the past few years in adhesive engineering have permitted vehicle producers to make lightweight and fuel-efficient cars. The APAC transport sector is increasing as a result of the increasing populace, growing cross-border movement of products, and rising employment rate. Vehicle making will also rise over time, therefore leading to a surge in the demand for laminating adhesives in the automotive sector.
In addition, innovative solventless laminating techniques have been put in place by various companies. Adhesives for the application of rigid packaging in India. The use of firearms in the country as customers are increasingly investing in them, and the number of such bond agents is increasing. A laminating machine with which these chemicals can be used.
The country has a substantial share in the sale of this type of adhesives, and the demand for them will rise further with the launch of various new products that are not only greener but also more effective and longer-lasting.
Hence, the fast development in the consumer durable, flexible packaging, e-commerce, and pharmaceutical sectors, the surge in the urban populace, and the increase in the demand for customer-friendly packaging are the major factors propelling the market.
