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  • Published On : Oct 2022
  • Code : CMI3868
  • Industry : Packaging
  • Pages : 120
  • Formats :

Lamination adhesive is a type of glue that holds the materials together and also provides excellent properties such as chemical & heat resistance, flame resistance, optical clarity, thermoforming capability, and electrical insulation. Moreover, they are also lightweight, easy to handle, and provide damage resistance. Lamination adhesive for flexible packaging acts as raw material for producing products for consumer durable industries. Pharmaceutical, medical, agricultural containers, and the food industry are some of the major end-use industries of lamination adhesive for flexible packaging.

Global lamination adhesives for flexible packaging market was valued at US$ 2.1 Billion in 2021 in terms of revenue, exhibiting a CAGR of  5.5% during the forecast period (2022 to 2030).

Drivers

Growing spending on packaged food across developed as well as developing regions is expected to propel the market growth of lamination adhesive for flexible packaging. According to the U.S. Department of Agriculture Economic Research Service, in 2018, U.S. consumers, businesses, and government entities spent US$ 1.71 trillion on food and beverages in grocery stores and other retailers and on away-from-home meals and snacks. Thus, growing spending by the consumers on packaged food is projected to augment the market growth of lamination adhesive for flexible packaging.

Developing markets such as BRICS (Brazil, Russia, India, China, and South Africa) are projected to experience a surge in GDP (Gross Domestic Product) growth over the forecast period. This is projected to ultimately increase the manufacturing industry which is expected to propel the market growth of lamination adhesive for flexible packaging.

The raw material consumption and supply is not expected to get impacted hugely across the globe owing to the rise in demand for packaging solutions during the pandemic. Major players functioning in the market are adopting new strategies in order to mitigate the impact of the COVID-19 pandemic. Producers are opting to expand their production lines of polypropylene, one of the key raw material for packaging products. This scenario is expected to fuel the production of raw materials used for packaging solutions in various countries across the globe.

Figure 1. Global Lamination Adhesives for Flexible Packaging Market Value Share (%), By Region, 2021

Lamination Adhesives for Flexible Packaging  | Coherent Market Insights

Market Restraints

The high cost of adhesives due to the fluctuating price of raw materials used in the manufacturing of lamination adhesive is expected to hinder the market growth of lamination adhesive for flexible packaging. This is due to the rise in prices of oil which has affected the production process. Rising concern over energy consumption as the production of adhesive is an energy-intensive process, is expected to hamper the market growth. Moreover, the process is time-consuming which is also expected to restrict the market growth of lamination adhesive for flexible packaging.

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Lamination Adhesives for Flexible Packaging Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 2.1 Bn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 5.5% Forecast Period: 2022-2030
Geographies covered:
  • Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:
  • By Product Type: Water-Based, Hot/Cold Seal, Solvent Less, Solvent Based
  • By End-User: Food Packaging, Medical Packaging, Industrial Packaging, Others
Companies covered:

H.B. Fuller, Henkel AG & Co. KgaA, The Dow Chemical Company, 3M, Flint Group, Arkema Group, Ashland Inc., COIM Group, Morchem, DIC Corporation, and Chemline India Ltd

Growth Drivers:
  • Growing spending on packaged food across developed as well as developing regions is expected to propel the market growth of lamination adhesive for flexible packaging
  • Rising demand for lamination adhesives for flexible packaging  is one of the major factors driving growth of the global market
Restraints & Challenges:
  • The high cost of adhesives due to the fluctuating price of raw materials used in the manufacturing of lamination adhesive is expected to hinder the market growth 

Market Trends

The growing demand for lamination adhesives from the automotive industry is projected to augment market growth over the forecast period. Lamination adhesive provides strong bonding than conventional technology which makes it ideal for automotive application such as fenders, body panels, heat shields, grille opening reinforcement (GOR), headlamp reflectors, and picks up boxes. Thus emerging application of lamination adhesives across the automotive industry is expected to propel the market growth.

Figure 2. Global Lamination Adhesives for Flexible Packaging Market Value Share (%), By Product Type, 2021

Lamination Adhesives for Flexible Packaging  | Coherent Market Insights

On the basis of product type, solvent based dominated the global lamination adhesives for flexible packaging market in 2021 with around 42% of market share in terms of revenue, followed by solvent less and heat/cold seal, respectively,

Recent Developments

  • In July 2022, H.B. Fuller, an adhesives manufacturing company, announced that it entered a strategic partnership in North America with Enimac, an international tape application equipment manufacturer. The agreement brings together specialists from both companies, who effectively combine their market and application expertise with advanced knowledge on pressure-sensitive adhesive tapes to support the growing e-commerce packaging industry.
  • In March 2022, H.B. Fuller, an adhesives manufacturing company, announced that they joined the 4evergreen alliance, a cross-industry alliance hosted by the Confederation of European Paper Industries (Cepi), a pan-European association representing the forest fibre and paper industry, to improve the circularity of fibre-based packaging.
  • In January 2022, H.B. Fuller, an adhesives manufacturing company, announced that it finalized its purchase of Apollo, the U.K.’s independent manufacturer of liquid adhesives, coatings and primers for the roofing, industrial and construction markets.

Competitive Section

Major players operating in the global lamination adhesives for flexible packaging market include H.B. Fuller, Henkel AG & Co. KgaA, The Dow Chemical Company, 3M, Flint Group, Arkema Group, Ashland Inc., COIM Group, Morchem, DIC Corporation, and Chemline India Ltd

 

Lamination adhesive is an important ingredient for manufacturing of flexible packaging products for various end-user industries such as healthcare & pharmaceuticals, food & beverages, manufacturing, and others. Flexible packaging is the type of packaging product which is made from flexible materials and easily resilient materials, for example, flexible laminates, elastomeric materials, and rubber etc. Flexible packaging can be readily moulded into multiple shapes after filling or canning.

Market Dynamics

Global lamination adhesives for flexible packaging market has witnessed significant growth from 2019, owing to the rising growth of various end-user industries like food, medical, and industrial packaging across the globe. Key players involved in market are focusing on improving production technology for development of environmental protection and better performing lamination adhesives. This scenario is expected to provide lucrative growth to the global lamination adhesives for flexible packaging market over the forecast period.

Major players in the global lamination adhesives for flexible packaging market are increasing their investment on innovative product launches, research & development and marketing & promotional activities to capitalize on emerging trends and various end-user industries such as food & beverages, consumer goods and pharmaceuticals. This scenario is expected to fuel the market growth during the forecast period.

Market consolidation has been observed as a key trend, with top market players going for mergers and acquisitions route to enhance their product portfolio and increase global footprint. Also, solvent less lamination adhesives are rapidly replacing solvent based adhesives, owing to their eco-friendly nature.

Key features of the study:

  • This report provides an in-depth analysis of the global lamination adhesives for flexible packaging market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global lamination adhesives for flexible packaging market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include H.B. Fuller, Henkel AG & Co. KgaA, The Dow Chemical Company, 3M, Flint Group, Arkema Group, Ashland Inc., COIM Group, Morchem, DIC Corporation, and Chemline India Ltd
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics.
  • The global lamination adhesives for flexible packaging market report caters to various stakeholders in this industry including investors, suppliers, lamination adhesives for flexible packaging manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global lamination adhesives for flexible packaging market

Detailed Segmentation:

  • Global Lamination Adhesives for Flexible Packaging Market, By Product Type:
    • Water-Based
    • Hot/Cold Seal
    • Solvent Less
    • Solvent Based
  • Global Lamination Adhesives for Flexible Packaging Market, By End-User:
    • Food Packaging
    • Medical Packaging
    • Industrial Packaging
    • Others
  •  Global Lamination Adhesives for Flexible Packaging Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • By Country:
        • France
        • Germany
        • Italy
        • Spain
        • U.K.
        • Nordic
        • Benelux
        • Russia
        • Poland
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Oceania
        • Rest of Asia Pacific
    • Middle East & Africa
      • By Country:
        • GCC
        • South Africa
        • Rest of Middle East & Africa
  • Company Profiles
    • H.B. Fuller*
      • Company Overview
      • Product Portfolio
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Henkel AG & Co. KgaA
    • The Dow Chemical Company
    • 3M
    • Flint Group
    • Arkema Group
    • Ashland Inc.
    • COIM Group
    • Morchem
    • DIC Corporation
    • Chemline India Ltd.

“*” marked represents similar segmentation in other categories in the respective section

Frequently Asked Questions

Global lamination adhesives for flexible packaging market was valued at around US$ 2.1 Billion in 2021.
Growing spending on packaged food across developed as well as developing regions is expected to propel the market.
The growing demand for lamination adhesives from the automotive industry is projected to augment market.
The high cost of adhesives due to the fluctuating price of raw materials used in the manufacturing of lamination adhesive is expected to hinder the market.
Major players operating in the market include H.B. Fuller, Henkel AG & Co. KgaA, The Dow Chemical Company, 3M, Flint Group, Arkema Group, Ashland Inc., COIM Group, Morchem, DIC Corporation, and Chemline India Ltd.
Global market is estimated to grow at around 5.5% CAGR in the forecast period (2022-2030).

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