The laminating adhesives market is expected to reach $12.3 billion by 2021, according to the report “Laminating Adhesives Market: By Type (solvent-base, solvent-less, water-base and others); By Application (flexible packaging, industrial, automotive and others); By Geography-Forecast (2017 - 2021)” published by IndustryARC.
Growing usage of laminating adhesives in flexible packaging, as well as the automotive sector, is reportedly all set to escalate the laminating adhesives market. Laminating adhesives have been extensively used in flexible packaging applications over the past few years across the globe. Among the various applications served by flexible packaging, the report finds its use majorly in food and beverage industry.
The global laminating adhesives market is estimated to grow at a compound annual growth rate (CAGR) of 6.42% during the forecast period and will reach $12.3 billion by 2021. Solvent-based systems are a source of VOCs, which react with oxygen and damage the ozone layer. The prevailing environmental concerns are suggested to be propelling a switch from solvent-based to water-based coatings. Moreover, solvent-based coatings are less susceptible to environmental conditions such as temperature and humidity during the curing phase. Radiation-curable adhesives systems are other type of formulation which are in its developing stage and can replace water-based systems in the nearby future owing to high performance properties. Adding to the trend, escalating demand for automotive and construction industries is propelling the growth of laminating adhesives in various geographies.
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