The global laminating adhesive market is segmented into application such as flexible packaging, industrial applications and others. Among these segments, laminating adhesive in flexible packaging segment is expected to occupy top position in overall laminating adhesive market during the forecast period. Further, growth of packaging industry across the globe is envisioned to bolster the growth of the flexible packaging laminating adhesive market. Moreover, wide scale application of laminating adhesive in food and pharmaceutical packaging industry is anticipated to fuel the growth of the flexible packaging laminating adhesive market. Further, laminating adhesive for flexible packaging market is sub segmented into food packaging and medical packaging.
Global laminating adhesive market is expected to flourish at a significant CAGR of 6.8% during the forecast period. Moreover, the global laminating adhesive market was held at USD 1,653.0 Million in 2016. Technological innovations and development of new laminating adhesive products is expected to strengthen the growth of laminating adhesive market in the upcoming years. Further, increasing number of end use manufacturing bases is anticipated to drive the growth of the market of laminating adhesive market.
Asia Pacific dominated the overall laminating adhesive market and is expected to continue its dominance over the forecast period. Increasing demand and sale of automotive vehicles in the region is anticipated to the dynamic factor behind the growth of the laminating adhesives market in the region. Further, increasing demand from food packaging industry is anticipated to trigger the growth of the laminating adhesive market. Countries such as China, India, Japan and South Korea are witnessing the augmented demand for laminating adhesives. Europe is anticipated to account for second position in global laminating adhesive market by the end of 2024.
Rising Production of Automotive Vehicles
Increasing demand and production of automotive vehicles across the globe is anticipated to spur the growth of the laminating adhesive market. Moreover, increasing utilization of automotive adhesives such as lamination of fiber glass, interior dash board, door panels, seats, lamination of composites and other parts are believed to trigger the growth of laminating adhesive market during the forecast period.
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Product Development and Technology Innovations
Advances in technology and development of advanced laminating adhesives offering higher bond strength are anticipated to drive the growth of the laminating adhesive market during the forecast period. Similarly, other development such as bio raw material coupled with reduction in the price is anticipated to propel the growth of the global laminating adhesive market.
However, stringent government regulations and increasing environmental concerns are some of the factors which might dampen the growth of laminating adhesive market during the forecast period.
The report titled “Laminating Adhesive Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global laminating adhesive market in terms of market segmentation by type, by application, by end user and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global laminating adhesive market which includes company profiling of The Dow Chemical Company, 3M Company, Henkel, Ashland Inc., H.B. Fuller, Comens New Materials, Toyo-Morton, Ltd., Bostik, COIM Group and Huber Group. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global laminating adhesive market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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