The Global Solvent Based Laminating Adhesives Market Size was valued at USD 607 Million in 2021 and is predicted to be worth USD 1,084 Million by 2030, with a CAGR of 6.9% from 2022 to 2030.
Solvent based laminating adhesives are solution that has high bond strength. They find wide applicability in flexible packaging.
|Market||Solvent Based Laminating Adhesives Market|
|Market Size 2021||USD 607 Million|
|Market Forecast 2030||USD 1,084 Million|
|CAGR During 2022 - 2030||6.9%|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Type of Packaging, By Type of Lamination, By End-Use, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Henkel AG & Co. KGaA, H.B. Fuller, Morchem, 3M, The Dow Chemical Company, COIM Group, Flint Group, Arkema Group, and Ashland Inc.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Flourishing food & beverage and medical industry, rapid technological advancements in lamination solvents and demand for advanced flexible packaging solution are major factors expected to drive the growth of global solvent based laminating adhesives market. Major players are investing high for the development of new drugs according to rising needs. Their demand for advanced packaging solutions in order to enhance the sustainability of the delivered product is gaining traction. There are many food and beverage processing establishments (plants) in the United States i.e. 36,486. California had the most food and beverage manufacturing plants (6,041) in 2019, while New York (2,611) and Texas (2,485) were also leading food and beverage manufacturing States. With rising food & beverage companies in developed and developing region is increasing demand for solvent based laminating adhesives. These factors are expected to support the growth of target market. Business development activities by major players through acquisitions and partnerships are expected to augment the growth of solvent based laminating adhesives market.In 2021, Innovative Chemical Products, a global player providing adhesive solutions acquired Choice Adhesives. The Choice Adhesives has long brought innovative adhesive product technology to the market. This acquisition is expected to help the company to enhance the customer base and increase the product portfolio.
In addition, increasing focus on product launches in order to increase the product offering and enhance the revenue is expected to support the solvent based laminating adhesives market growth.
Factors such as fluctuating raw material prices and high cost of products are expected to hamper the growth of global solvent based laminating adhesives market. In addition, stringent government regulations related to product approval is expected to challenge the growth of target market. However, high investment for R&D activities and new product launch are factors expected to create new opportunities for players operating in the global solvent based laminating adhesives market over the forecast period. In addition, increasing partnership and agreements is expected to support the revenue transaction of the target market.
Solvent Based Laminating Adhesives Market Segmentation
The global solvent based laminating adhesives market is segmented into type of solvent, type of lamination, and end use. The type of solvent segment is divided into Acetone, MEK, Toluene, Ethyl Acetate, MEK- Toluene, Polyol B-side Curative Hydroxyl, and Isocyanate A-Side NCO Adhesive Solvent. The type of lamination segment is divided into film to film, film to foil, and film to metalized film. The end-use segment is divided into food, healthcare, industrial packaging, and others. Among end use the food segment is expected to account for major revenue share among other end use segment.
Market by Type of Packaging
Market by Type of Lamination
Market by End-Use
Solvent Based Laminating Adhesives Market Regional Outlook
The Middle East & Africa (MEA)
The market in Asia Pacific is expected to witness faster growth in the solvent based laminating adhesives market due to high demand from medical industry. In addition, presence of large number of players operating in the country and introduction of new products form regional players is expected to support the growth of solvent based laminating adhesives market.
Solvent Based Laminating Adhesives Market Players
The global solvent based laminating adhesives market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Some of the prominent global solvent based laminating adhesives market companies are Henkel AG & Co. KGaA, H.B. Fuller, Morchem, 3M, The Dow Chemical Company, COIM Group, Flint Group, Arkema Group, and Ashland Inc.
In 2020, Bostik, a global provider of specialty adhesives and sealant launched “HERBERTS” a high-performance, sustainable, flexible lamination solutions for food packaging, industrial and medical markets in the Asia Pacific region. This product launch is expected to help company to enhance its business in Asia Pacific region.
In 2018, Uflex, the largest solution provider of flexible packaging launched “FLEXBON 162R/162” a general performance solvent-based product and can be used at higher application solids of between 45% and 50%. This product launch is expected to enhance the business and increase the customer base.
In 2016, Flint Group, a global chemical provider, launched “PremoLam F”, a water-based lamination ink system in the North America market. This product launch is expected to help company strengthen its position in North America region.
The global solvent based laminating adhesives market size in 2021 was accounted to be USD 607 Million.
The projected CAGR of solvent based laminating adhesives during the analysis period of 2022 to 2030 is 6.9%.
The prominent players of the global solvent based laminating adhesives market involve Henkel AG & Co. KGaA, H.B. Fuller, Morchem, 3M, The Dow Chemical Company, COIM Group, Flint Group, Arkema Group, and Ashland Inc.
Asia-Pacific held the dominating share for solvent based laminating adhesives during the analysis period of 2022 to 2030.
North America region exhibited fastest growing CAGR for solvent based laminating adhesives during the analysis period of 2022 to 2030.
Increase the food packaging industry's product offering and rapid improvements in laminating solvent technology are the prominent factors that fuel the growth of global solvent based laminating adhesives market.
Based on end-use, food segment held the maximum share for solvent based laminating adhesives market in 2021.