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Laminating adhesives market: opportunities and challenges

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Laminating adhesives market: opportunities and challenges

November 07
02:28 2019
Laminating adhesives market: opportunities and challenges

Browse 111 market data Tables and 40 Figures spread through 153 Pages and in-depth TOC on “Laminating Adhesives Market”
Laminating Adhesives Market by Technology (Solvent-based, Solventless, and Water-based), Resin (Polyurethane and Acrylic), End-Use Industry (Packaging, Industrial, and Automotive & Transportation), and Region

The laminating adhesives market size was USD 2,452 million in 2018 and is projected to register a CAGR of 6.9% between 2019 and 2024.

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How is the growing trend of water-based & solvent-less adhesives creating an opportunity for market growth?

Stringent environmental regulations are playing a vital role in driving the water-based laminating adhesives market. The use of water-based laminating adhesives is increasing due to the growing concern regarding the generation of waste and emissions. Water-based laminating adhesives are also being used for high-performance laminations and one-part systems for outdoor applications in the automotive industry.

The growing interest in water-based laminating adhesives is expected to increase the demand for acrylic and maleic resins, which account for a major share of all water-based adhesives manufactured, globally.

In the chemical industry, there is a trend of developing eco-friendly products due to health-related and environmental issues. The US EPA, Europe’s REACH, and other regional regulatory authorities have mandated manufacturers to produce environmentally-friendly adhesives with low VOC levels. This has encouraged many adhesives manufacturers to develop products having low VOC emissions, less odor, and low or negligible/objectionable chemicals (for example, water-based adhesives) to meet the EH&S compliance.

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Is the implementation of stringent regulatory policies challenging the market growth?

The chemical industry is facing challenges from regulatory authorities such as the Control of Substances Hazardous to Health (COSHH), the European Union (EU), Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH), Globally Harmonized System (GHS), and the Environmental Protection Agency (EPA) in Europe and North America. Manufacturers in Europe and North America need to comply with these regulations regarding the production and usage of laminating adhesives in various applications to reduce VOC emissions. This has affected the production of the companies that are mainly into manufacturing laminating adhesives through solvent-based technology. In order to comply with these regulations, manufacturers are required to shift from solvent-based to water-based technology. This is a major challenge for the market players. Moreover, water-based technology has disadvantages such as higher production costs and higher drying time.

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