Laminating Adhesives Market to Rise Nearly 7%
The market is expected to witness growth owing to the increasing demand for laminating adhesives.
The laminating adhesives market size is projected to grow from $2.5 billion in 2018 to $3.4 billion by 2023, at a compound annual growth rate (CAGR) of 6.9%, according to a report from Research and Markets. The market is expected to witness growth owing to the increasing demand for laminating adhesives from industries such as packaging, industrial, and automotive and transportation.
The increasing urban population is reportedly a major factor for the rising demand for products such as medicines, beverages, fast-moving consumer goods and other consumer durables. However, stringent government regulations in the chemical industry are expected to hamper the growth of the market. Volatility in raw material prices might adversely affect the overall production cost of laminating adhesives.
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