TAGS: Polyurethane Adhesives
Research and Markets (RM) anticipates that the laminating adhesive market size is projected to reach USD 5.1 billion by 2028 at a CAGR of 5.8% from USD 3.6 billion in 2022. The Polyurethane, by resin type segment is estimated to account for the largest share of the laminating adhesives market in 2022.
Polyurethane resin: Largest Share of Market
Rubber, fabrics, metal, paper, wood, and plastic all adhere well to polyurethane laminating adhesives. They are suited for substrates that are sensitive to heat because of their exceptional resistance to solvents and chemical products as well as their low application temperature. Flexible packaging and industrial applications use polyurethane laminating adhesives, which can be used on a variety of polyester, aluminium, foil, paper, cardboard, and metalized materials.
Solvent-less offer performance advantages such as high-temperature resistance, long-term durable bonds, and high bond strength. Solvent-less laminating adhesives are used in the assembly operation of cars and other vehicles. Solvent-less adhesives are also used in roof linings and bonding of seat units in the automotive industry. They can also be used to bond emblems as well as anchor plates onto gear knobs.
Automotive & Transportation: Fastest Growing Segment
Laminating adhesives are a preferred replacement for nuts & bolts owing to the lesser energy required in their production. In addition, they provide more bonding strength than mechanical fasteners. The important factors for the growth of the laminating adhesives market in the automotive & transportation industry are the increasing need for making lightweight vehicles and stringent regulations by environmental agencies.
The increasing per capita income has increased the spending capacity of consumers in Middle Eastern & African countries. The increase in urbanization and industrialization are the major factors driving the packaging industry, which in turn, is expected to support the laminating adhesives market in the region. The demand for flexible packaging in the Middle East & Africa is growing with the rapid growth of the food & beverages industry.
Saudi Arabia has the largest share in the laminating adhesives market in the Middle East & Africa. The growing per capita income is contributing to the demand for FMCGs, which, in turn, increases the demand for laminating adhesives in Saudi Arabia.
Source: Research and Markets