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Water-Based Laminating Adhesives Industry to See Robust Expansion, Valued at $5.07 Billion by 2029
Water-Based Laminating Adhesives Market
What Is the Projected CAGR for the Water-Based Laminating Adhesives Market from 2024 to 2025?
The market for water-based laminating adhesives has witnessed swift expansion in the preceding years. It is projected to escalate from a value of $3.02 billion in 2024, to $3.34 billion in 2025, with a compound annual growth rate (CAGR) of 10.8%. The historic growth has been fuelled by rising demand for environmentally friendly adhesives, increasing consciousness about sustainable packaging alternatives, development in the flexible packaging applications, expansion in the construction sector, and proliferation in the e-commerce packaging industry.
What are the Expected Market Size and CAGR for Water-Based Laminating Adhesives by 2029?
The market size for water-based laminating adhesives is projected to rapidly expand in the coming years. It's anticipated to reach a value of $5.07 billion by 2029, with a compound annual growth rate (CAGR) of 11.0%. The growth during this forecast period is expected to be driven by the escalating demand for packaged food, increasing utilization in food and beverage packaging, burgeoning applications in the automotive sector, expanding needs in the furniture manufacturing industry, and growing adoption in textiles and apparel. Significant trends to look out for during this period would be advancements in technology, flexible packaging, curing technologies, biodegradable packaging, and environmentally friendly adhesives.
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Which Factors Are Driving the Global Water-Based Laminating Adhesives Market Expansion?
The water-based laminating adhesives market is expected to grow significantly due to the surge in the e-commerce industry. An e-commerce business sells goods or services online, with increasing popularity attributed to the convenience offered by online shopping, the wide accessibility of the internet, advancements in mobile technology, individualized customer service, and the potential to access a global market at a lower expense than traditional retail. Water-based laminating adhesives, used to firmly bind packaging materials, ensure product longevity, protection, and environmentally friendly solutions during shipping and handling, are vital in e-commerce companies. For example, US retail e-commerce sales reached an estimate of $291.6 billion in the second quarter of 2024, marking a 1.3% (±0.7) increase from the first quarter, according to an August 2024 report by the United States Census Bureau, a US governmental body. Meanwhile, total retail sales were estimated at $1,826.9 billion for the same quarter, a 0.5% (±0.2) increase from the first quarter. Given these statistics, the robust expansion of the e-commerce industry is fueling the growth of the water-based laminating adhesives market.
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Which Segment Currently Holds the Largest Share of the Water-Based Laminating Adhesives Market?
The water-based laminating adhesives market covered in this report is segmented -
1) By Type: Polyurethane, Acrylic, Ethylene Vinyl Acetate (EVA), Styrene Butadiene Rubber (SBR), Polyvinyl Alcohol (PVA)
2) By Technology: Solventless, Solvent Based
3) By Substrate: Film To Film, Film To Paper
4) By Application: Packaging, Industrial, Automotive And Transportation, Furniture, Consumer Goods, Electronics
Subsegments:
1) By Polyurethane: Aliphatic Polyurethane, Aromatic Polyurethane, Waterborne Polyurethane Dispersions
2) By Acrylic: Acrylic Emulsions, Acrylic Solutions, Acrylic Polymers
3) By Ethylene Vinyl Acetate (EVA): Low VA Content EVA, High VA Content EVA
4) By Styrene Butadiene Rubber (SBR): Styrene Butadiene Emulsions, Styrene Butadiene Solutions
5) By Polyvinyl Alcohol (PVA): PVA Homopolymers, PVA Copolymers, PVA Blends
Which Major Trends Are Shaping the Future of the Water-Based Laminating Adhesives Industry?
Leading enterprises in the water-based laminating adhesive market are concentrating on innovations such as water-based ink technology to enhance environmental sustainability and upgrade adhesion features. This technology aids water-based laminating adhesives in reducing the emission of volatile organic compounds (VOCs) and promoting ecological sustainability. For example, in January 2024, Sun Chemical, an American chemical firm, introduced the SunStrato AquaLam Gen2 ink series, a cutting-edge water-based solution for top-quality laminated and rewritable flexible packaging. These inks provide improved printability and bond strength, lowering VOC and carbon dioxide (CO2) emissions by 18-20% compared to solvent-based alternatives. Their introduction plays a pivotal role in the water-based laminating adhesive industry, indicating a shift towards safer and more eco-friendly solutions.
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Which Key Players Dominate the Water-Based Laminating Adhesives Industry Globally?
Major companies operating in the water-based laminating adhesives market are BASF SE, 3M Company, Fujifilm Corporation, Evonik Industries AG, Parker Hannifin Corporation, Arkema S.A., Sika AG, DIC Corporation, H.B. Fuller Company, Nippon Shokubai Co. Ltd., Henkel AG & Co. KGaA, Flint Group, tesa SE, Pidilite Industries Limited, Paramelt B.V., Franklin International Inc., Weilburger Graphics GmbH, Jowat SE, Kleiberit Adhesives GmbH & Co. KG, Morchem Inc., SAPICI S.p.A, Collano Adhesives, BondTech Industries Inc., Vimasco Corporation
What Are the Fastest-Growing Regions in the Water-Based Laminating Adhesives Market?
North America was the largest region in the water-based laminating adhesives market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the water-based laminating adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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