Laminating Adhesives Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028
Laminating Adhesives market is anticipated to grow significantly through 2028. The growing environmental awareness and paradigm shift toward more sustainable and eco-friendly alternatives are expected to spur market growth through 2028. Additionally, the growing trend to minimize plastic usage and adopt sustainable alternative solutions in the packaging industry is further expected to drive market growth. Laminating adhesives are thin layers of adhesive set on release paper. Once the adhesive is applied, the paper is stripped away, leaving the adhesive bonded to the component's surface. Additional benefits provided by laminating adhesives include flame resistance, chemical resistance, thermoforming ability, and gas permeability reduction. Besides, growing demand from the automotive industry, where they are used in interiors and on the exterior body of cars to provide a shiny finish to luxury cars is also driving the report. Thus, increasing production and sales of premium cars is expected to boost the growth of laminating adhesives market during the forecast period.
Furthermore, the increasing demand from pharmaceuticals, the construction sector, and others are the crucial factors that propel the market’s growth. Various companies and research organizations operating in the market also focus on developing eco-friendly products. This, in turn, is expected to create huge prospects for market growth in the coming years.
Development of Flexible Packaging
Flexible packaging is a technique for enclosing goods in non-rigid materials, allowing for more affordable and adaptable solutions. Food and beverage, personal care, and pharmaceutical sectors employ flexible packaging. According to the Flexible Packaging Association, approximately 2/3 of all packaging is for food & beverages, and about 90% of flexible packaging is used for these products. Customers are drawn to packaging that offers ease, product safety, and longer shelf life, according to research by the Flexible Packaging Association. More flexible packaging that is easier to store, easier to reseal, easier to open, and has a longer shelf life is preferred by 60% of consumers. Adhesive laminating is a crucial component of flexible packaging. Therefore, the growth of flexible packaging is proving to be a market booster for the Laminating Adhesives market size.
Increasing Focus on Sustainability
Solvent-free laminating adhesives have become increasingly popular in recent years. Due to the lack of a solvent, these adhesives don't release any volatile organic compounds (VOCs) into the atmosphere. As a result, solvent-free lamination serves as the foundation for sustainability. It's important to be recyclable. The correct adhesive can guarantee consumer safety and the necessary performance for food protection during the mechanical recycling of multi-layer flexible structures without degrading the quality of the recycled material. As an illustration, Bostik provides a laminating adhesive that has been completely approved by RecyClass as compliant with the polyethylene film recycling stream. In Europe, the packaging business is being driven toward sustainability by regulatory reforms brought about by the new Green Deal, laws banning single-use plastics, and associated rules. Thus, the worldwide laminating adhesives market is anticipated to witness substantial growth from solvent-free adhesives during the forecast period.
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