High Strength Laminated Adhesives Market - Forecast(2023 - 2028)

Report Code: CMR 59861 Report Format: PDF + Excel

Overview

High Strength Laminated Adhesives Market size is forecast to reach $3.5 billion by 2025, after growing at a CAGR of 6.9% during 2020-2025, owning to rising demand for high strength laminating adhesives from the packaging, construction, furniture, automotive, and leather industries. High strength laminating adhesives are preferred as a replacement for nuts and bolts and other traditional techniques due to the reduced energy spent in adhesive manufacturing. These adhesives also provide greater resistance to bonding than conventional techniques. High-strength laminating adhesives are used in fenders, heat shields, body panels, grill opening reinforcement, headlamp reflectors and in automotive pick-up boxes. The rapid growth of the automotive industry due to the rising production and the increase in number of vehicle variants will propel the demand for high strength laminating adhesives in the coming years.

Report Coverage

The report: “High Strength Laminated Adhesives Market– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the High Strength Laminated Adhesives Industry.


Key Takeaways

·         The Asia-Pacific region dominated the global High Strength Laminated Adhesives market share, owning to huge demand for flexible packaging in the APAC region, because of the rising disposable income, changing lifestyle, and growing middle-class population.

·         Increasing government regulation regarding VOC emission is creating water based technology demand for producing high strength laminated adhesives.

·         The packaging industry is witnessing high growth, owning to rising demand for ready to eat food products. Increased urbanization and growth of the packaging industry have led to an increase in demand high strength laminated adhesives.

Technology - Segment Analysis

By Technology, the market is segment into Waterborne Adhesives, UV Curable Adhesive, Solvent Based Adhesives, Hot-Melt Adhesives, and others. The solvent-based technology held the largest share in the high strength laminated adhesives market in 2019. These adhesives are used in a wide range of packaging applications. Solvent-based laminating adhesives offer properties such as high bond strength and less curing time. The solvent-based segment is expected to grow on the backbone of the food packaging industry, which is expected to experience high growth over the forecast period. Waterborne adhesives are also gaining popularity in the high-laminate adhesives market, due to government pressure on laminate converters to reduce VOCs. Waterborne laminating adhesives are usually produced from natural materials such as sodium silicate, dextrin and natural rubber. In addition, they are also produced from synthetic organic polymer emulsions based on vinyl acetate, acrylic, polyurethane and others. Natural adhesives are more commonly used for labeling and other packaging applications, while synthetic emulsions are mostly used for either wet or dry laminating.

End-User Industry - Segment Analysis

Packaging industry held the largest share in the High Strength Laminated Adhesives market in 2019 and is growing at a CAGR of 7.3%, owning to increasing demand of laminated adhesives for flexible packaging. High strength laminating adhesives are increasingly used in flexible packaging, which includes a number of types of paper bonding applications, such as the production of corrugated boxes and the lamination of printed sheets. Flexible packaging is also increasingly used for food and beverage packaging, cosmetics and toiletries, health products, household products and sports goods. High-strength laminated adhesives are extensively used for interior and exterior applications in the automotive industry. The adhesives used in interior applications are used to bind decorative components and to seal windows and doors. The external applications of these adhesives include side moldings and vinyl roofs. In addition, these products are also used to repair mechanical components, automotive ancillaries and windshields and to reseal vehicle's body. The rapid growth of the automotive industry is driving the demand for high strength laminating adhesives during the forecast period.

Geography - Segment Analysis

Asia Pacific held the largest share in the High Strength Laminated Adhesives market in 2019, up to 30%, owing to the increasing demand from packaging industries and improving economic conditions. Consumers in these countries are increasingly shifting their preference to packaged foods due to their high-quality and fresh food offerings, which are driving the packaging industry in the region. New research and development projects, increasing demand from various end-use industries and product innovations have also fueled the demand for high laminate adhesives in APAC.

Drivers – High Strength Laminated Adhesives Market

• Increasing demand from packaging industry.

Laminating adhesive products are used in wrappers, films, stand-up pouches, bags, primers and ink binders. These products are formulated to meet the innovative needs of the flexible packaging industry. High-performance industrial laminating adhesives have several properties that can be adapted to be used in a range of applications ranging from solar films, sail fabrics, flexible food packaging applications that require high strength film to metal foil laminations. In addition, these adhesives often deliver good wet ability and lower solvent residues that are suitable for high-solid, low-viscosity and high-speed dry composite manufacturing. Because of all such reasons, the demand for high strength laminated adhesives is increasing from the packaging industry.

Challenges – High Strength Laminated Adhesives Market

·         ·         Government regulation to limit VOC emission.

The chemical industry faces numerous threats from regulatory bodies such as as the Globally Harmonized System, Control of Substances Hazardous to Health, Registration, Evaluation, Authorisation, and Restriction of Chemicals, and the Environmental Protection Agency in Europe and North America. Manufacturers in Europe and North America should comply with these regulations concerning the manufacture and use of high strength laminating adhesives in different applications to limit VOC emissions. This has disrupted the production of companies that are primarily using solvent-based technology to produce high-resistance laminating adhesives. To comply with these regulations, manufacturers are forced to move from solvent-based technology to water-based. This is a major obstacle for players in the business. In addition, water-based technology has disadvantages such as higher manufacturing costs and slower drying time.

 

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the High Strength Laminated Adhesives Market. In 2019, the market of High Strength Laminated Adhesives Market has been consolidated by the top five players accounting for xx% of the share. Major players in the High Strength Laminated Adhesives market are Henkel, Ashland, 3M, H.B. Fuller, Daubert Chemical, Avery Dennison, Bostik, Franklin, Mapei, Royal Adhesives & Sealants, Coim, Toyo-Morton, DowDuPont, DIC, among others.