Press release
Solvent Based Laminating Adhesives Market Size, Opportunities 2023-2032
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Market Size and Growth Projections: According to the report, the global solvent based laminating adhesives market was valued at USD 607 Million in 2023 and is projected to reach USD 1,084 Million by 2032, growing at a CAGR of 6.9% from 2024 to 2032. The rising demand for flexible packaging solutions and the growing automotive industry are some of the key factors driving the market growth.
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Key Market Trends:
Increasing Demand for Flexible Packaging: Flexible packaging is gaining popularity across various industries due to its lightweight, cost-effectiveness, and convenience. Solvent based laminating adhesives are essential in the production of flexible packaging, as they provide excellent adhesion and durability, ensuring the integrity and longevity of the packaging.
Growth in the Automotive Sector: The automotive industry is another significant end-user of solvent based laminating adhesives. These adhesives are used in the manufacturing of interior and exterior automotive components, providing strong bonds and resistance to harsh environmental conditions. The increasing production of electric vehicles and the growing focus on lightweight materials are expected to further boost the demand for solvent based laminating adhesives in the automotive sector.
Technological Advancements: Continuous advancements in adhesive technologies are enhancing the performance and application scope of solvent based laminating adhesives. Innovations such as low-VOC formulations and improved curing times are making these adhesives more environmentally friendly and efficient, driving their adoption across various industries.
Market Opportunities:
Expansion in Emerging Markets: Emerging economies in Asia-Pacific, Latin America, and the Middle East are witnessing rapid industrialization and urbanization, leading to increased demand for solvent based laminating adhesives. The expanding manufacturing sector and growing investments in infrastructure projects are creating lucrative opportunities for market players in these regions.
Sustainable Solutions: With the rising awareness about environmental sustainability, there is a growing demand for eco-friendly adhesive solutions. Manufacturers are focusing on developing solvent based laminating adhesives with reduced VOC emissions and enhanced recyclability, aligning with the global sustainability goals and creating new market opportunities.
Table Of Content: https://www.acumenresearchandconsulting.com/table-of-content/solvent-based-laminating-adhesives-market
Solvent Based Laminating Adhesives Market Segmentation:
The global solvent based laminating adhesives market is segmented into type of solvent, type of lamination, and end use. The type of solvent segment is divided into Acetone, MEK, Toluene, Ethyl Acetate, MEK- Toluene, Polyol B-side Curative Hydroxyl, and Isocyanate A-Side NCO Adhesive Solvent. The type of lamination segment is divided into film to film, film to foil, and film to metalized film. The end-use segment is divided into food, healthcare, industrial packaging, and others. Among end use the food segment is expected to account for major revenue share among other end use segment.
Market by Type of Packaging
Acetone
MEK
Toluene
Ethyl Acetate
MEK- Toluene
Polyol B-side Curative Hydroxyl
Isocyanate A-Side NCO Adhesive Solvent
Market by Type of Lamination
Film to Film
Film to Foil
Film to Metalized Film
Market by End-Use
Food
Healthcare
Industrial packaging
Others
Regional Insights:
North America: North America holds a significant share in the global solvent based laminating adhesives market, driven by the robust packaging and automotive industries in the region. The presence of major market players and continuous technological advancements are further supporting market growth.
Europe: Europe is another prominent market for solvent based laminating adhesives, with a strong focus on sustainability and innovation. The stringent regulations regarding VOC emissions and the increasing demand for eco-friendly packaging solutions are driving the market in this region.
Asia-Pacific: The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, owing to rapid industrialization, urbanization, and the expanding manufacturing sector. Countries like China, India, and Japan are leading the market, with increasing investments in infrastructure and growing demand for flexible packaging solutions.
Latin America and Middle East & Africa: The markets in Latin America and the Middle East & Africa are also experiencing significant growth, driven by the rising demand for adhesive solutions in packaging, automotive, and construction industries. The expanding industrial base and improving economic conditions are creating favorable market conditions in these regions.
Market Players:
Some of the prominent global solvent based laminating adhesives market companies are Henkel AG & Co. KGaA, H.B. Fuller, Morchem, 3M, The Dow Chemical Company, COIM Group, Flint Group, Arkema Group, and Ashland Inc.
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