Laminating Adhesives Industry Size, Share, Demand & Growth by 2033
The global laminating adhesives market is projected to amass a revenue of US$ 6.2 billion by 2033, with sales growing at a restored and positive CAGR of 6.1% from 2023 to 2033. Historically, the target market recorded an average CAGR of 4.7 % from 2017 to 2022. The laminating adhesive market will likely reach an estimated US$ 3.5 billion in 2023.
The estimated growth for the forecast period can be
attributed to heightened demand from various end-use sectors like packaging,
healthcare, food and beverages, manufacturing, and pharmaceuticals, among
others. The packaging industry, particularly, generates a strong demand for
laminating adhesives. Lamination adhesive is an essential part of the
manufacturing process of flexible packaging goods.
The rising awareness of the advantages of flexible
packaging such as its lightweight aspect, easier handling, less space
requirement, smoother transportation, extended shelf life, protection from
damage, and improved printability further promotes the demand for flexible
packaging which, in turn, has a positive impact on the laminating adhesive
market.
Since packing is one of the important factors that
manufacturing enterprises take into consideration before venturing into the
production process, the market for laminating adhesives looks at positive
growth in the forthcoming years.
In the past few years, more and more businesses in the
manufacturing and industrial sectors have been opting for flexible packaging
which is transforming the structure of the packing sector. Thus, flexible
packaging is taking over the rigid packaging sub-sector.
Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-11275
This augurs well for laminating adhesives as they are
eco-friendly, durable, and also come in solvent-free varieties. Hence, the
expansion of the flexible packaging sector and rising demand for eco-friendly
adhesives act as primary growth drivers for the laminating adhesive market.
Moreover, immense demand for laminating adhesives from
food and beverage packaging, medical packaging, and expansive use of the
product across various industries like industrial, automotive, and
transportation sectors will underpin the growth of the laminating adhesive
market during the projection period.
Key Takeaways:
- Water-based
laminating adhesives will gain rapid traction over the next couple of
years owing to the implementation of strict environmental regulations and
the high demand for miniaturized electronic products.
- The
growing consumption of packaged food will fuel the use of laminating
adhesives in the food packaging sector.
- The
laminating adhesives market in the US will reach a value of US$ 729.9
million by 2033.
- Asia
Pacific will emerge as an opportunistic pocket for the laminating adhesive
market owing to surging manufacturing activity in China, Japan, and India.
About the Chemicals and Materials Division
at Future Market Insights (FMI)
The chemicals and materials division of Future Market
Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and
materials industry. This exhaustive coverage extends from commodity, bulk,
specialty, and petrochemicals to advanced materials, composites, and
nanotechnology in particular, with special emphasis on ‘green alternatives,
recycling and renewable technology developments, and supply-demand-trade
assessment. Our research studies serve as referencing market guidelines for
chemical manufacturers, research institutions, channel partners, and government
bodies for developing — ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified,
recipient of the Stevie Award, and a member of the Greater New York Chamber of
Commerce) offers profound insights into the driving factors that are boosting
demand in the market. FMI stands as the leading global provider of market
intelligence, advisory services, consulting, and events for the Packaging, Food
and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals
markets. With a vast team of over 400 analysts worldwide, FMI provides global,
regional, and local expertise on diverse domains and industry trends across
more than 110 countries.
Contact
Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
Comments
Post a Comment