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Laminating Adhesives Market Thrives on Automobile Industry Growth || Henkel AG & Co., Ashland Global Specialty Chemicals Inc., BASF SE
Laminating Adhesives Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the laminating adhesives industry. This report on laminating adhesives market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The laminating adhesives market size has grown rapidly in recent years. It will grow from $2.72 billion in 2023 to $3 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to packaging industry growth, food and beverage packaging, e-commerce boom, sustainable packaging, agricultural industry. The laminating adhesives market size is expected to see rapid growth in the next few years. It will grow to $4.58 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
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Key Market Players:
Henkel AG & Co., Ashland Global Specialty Chemicals Inc., BASF SE, Bostik, DuPont de Nemours Inc., Evonik Industries AG are prominent players in the laminating adhesives industry.
Market Drivers:
According to the Laminating Adhesives Market Report 2023 by The Business Research Company, the key factors driving the growth of the laminating adhesives market, includes the rise in demand from the packaging industry. The packaging industry encompasses all the activities, processes, and businesses involved in designing, producing, and delivering packaging materials and solutions. Laminating adhesives are used as a critical component in the packaging industry as they provide a wide range of benefits, from protecting the product to enhancing its visual appeal, ensuring product safety, and meeting the evolving demands of sustainability. For instance, in 2022, according to reports shared by the Flexible Packaging Association, a US-based non-profit organization, the U.S. flexible packaging industry saw a substantial increase in sales in 2021, reaching an estimated $39 billion, up from $34.8 billion in the previous year.
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Market segments for laminating adhesives include:
1) By Resin Type: Polyurethane, Acrylic, Other Resin Types
2) By Technology: Solvent-Based, Solvent-Less, Water-Based, Other Technologies
3) By Application: Automotive, Industrial Application, Packaging, Medical, Food, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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