Laminating Adhesives Market

Laminating Adhesives Market Size & Overview – Key Insights & Forecast

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14112
  • Published Date: Feb, 2024
  • Pages: 237
  • Category: Chemicals & Materials
  • Format: PDF
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Market Introduction

The global laminating adhesives market generated USD 3.91 billion revenue in 2023 and is projected to grow at a CAGR of 6.01% from 2024 to 2033. The market is expected to reach USD 7.01 billion by 2033. The increasing need for flexible packaging across various industries, such as pharmaceuticals, food and beverage (F&B), and personal care, is a significant driver of market revenue growth. Additionally, the need for cost-effective bonding solutions to help businesses reduce production expenses and improve product quality further propels market growth.

Laminating adhesives are specially formulated adhesives used in laminating, which involves mixing two or more layers of materials to construct a single composite structure. These adhesives are designed to provide strong, durable bonds between various substrates such as films, foils, papers, or fabrics. They are generally utilized in flexible packaging, labels, graphic arts, and industrial applications. Depending on the application's specific requirements and environmental considerations, laminating adhesives can be solvent- or water-based or solventless. They are engineered to deliver specific performance characteristics, such as adhesion strength, flexibility, clarity, and heat resistance, tailored to the end-user requirements. These adhesives are crucial in packaging materials, providing barrier properties to protect contents from moisture, oxygen, light, and other external factors. Additionally, they contribute to the overall aesthetics and functionality of the laminated product, ensuring its performance throughout its lifecycle. As manufacturers and consumers increasingly prioritize environmental sustainability, there is a growing demand for eco-friendly laminating adhesives that minimize environmental impact while maintaining performance standards. This factor has led to the development of bio-based, recyclable, and compostable formulations that offer viable alternatives to traditional adhesive solutions.

Laminating Adhesives Market Size

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Recent Development

  • In June 2023, Henkel marks a significant milestone with the commencement of construction on a state-of-the-art manufacturing facility for its Adhesive Technologies division in the Yantai Chemical Industry Park in Shandong Province, China. This groundbreaking venture represents a substantial investment totalling around 120 million Euros (equivalent to RMB 870 million). The forthcoming plant, named 'Kunpeng' in Chinese, is poised to bolster Henkel's manufacturing capabilities specifically tailored for high-impact adhesive products within China. By strategically expanding its production footprint, Henkel aims to optimize its supply chain network, ensuring more efficient fulfilment of domestic and international burgeoning demand.
  • In March 2023, Henkel, renowned worldwide for its expertise in adhesives, sealants, and functional coatings, has inaugurated its Technology Center in Bridgewater, New Jersey, US. Spanning an impressive 70,000 square feet, this center serves as a distinctive and engaging hub for Henkel's esteemed strategic partners and clientele. It is a comprehensive showcase of Henkel's extensive technology portfolio, encompassing adhesives, sealants, functional coatings, and specialty materials. Moreover, the facility fosters a collaborative environment, facilitating joint ventures with customers across more than 800 diverse industry segments aimed at crafting cutting-edge and innovative solutions.
  • In August 2022, Toyo-Morton, Ltd. (member of Toyo Ink Group), a renowned laminating adhesives manufacturer, unveiled the innovative ECOAD series. These polyurethane solvent-free laminating adhesive systems are specifically designed for the industrial and food packaging sectors, primarily targeting the Asian market where solvent-based systems currently dominate. The ECOAD adhesive systems are adept at facilitating continuous lamination of metalized packaging structures with two or three layers, all while ensuring a seamless appearance without compromising the integrity of the metalized films—a notable achievement in the industry. Moreover, these solvent-free adhesives boast the distinct advantage of containing no volatile organic compounds (VOC), thus enhancing end-user sustainability.

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This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global laminating adhesives market based on below-mentioned segments:

Global Laminating Adhesives Market by Resin Type:

  • Acrylic
  • Polyurethane
  • Others

Global Laminating Adhesives Market by Technology:

  • Solvent-based
  • Water-based
  • Others

Global Laminating Adhesives Market by Application:

  • Automotive & Transportation
  • Industrial
  • Packaging
  • Others

Global Laminating Adhesives Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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