DUBLIN, Nov. 22, 2023 /PRNewswire/ — The “Solventless Laminating Adhesive Market – Global Industry Size, Share, Trends Opportunity, and Forecast, 2028F” report has been added to ResearchAndMarkets.com’s offering.
The global Solventless Laminating Adhesive Market, valued at USD 488.75 million in 2022, is projected to witness robust growth with a CAGR of 4.18% through 2028. Solventless laminating adhesives, known for their eco-friendliness and exceptional bonding properties, are gaining prominence across industries like packaging, automotive, aerospace, and flexible electronics.
Key Drivers
- Growing Demand for Flexible Packaging: Flexible packaging is on the rise due to its versatility, sustainability, and consumer appeal. This trend drives the demand for solventless laminating adhesives, which are essential for creating multi-layered structures in flexible packaging materials, ensuring product freshness and reducing waste.
- Rise of Sustainable Packaging: Sustainability is a central theme in consumer choices and corporate strategies. Solventless laminating adhesives, being VOC-free and eco-friendly, play a pivotal role in achieving sustainable packaging solutions. They also provide excellent bonding strength and are compatible with recyclable materials.
- Expanding Applications: Solventless laminating adhesives are finding new applications in industries like automotive, electronics, and healthcare. They are used for bonding lightweight materials, semiconductor assembly, and more, showcasing their versatility and adaptability.
Challenges
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Higher Initial Cost: Solventless laminating adhesives can be more expensive upfront than solvent-based alternatives, which may deter smaller manufacturers with budget constraints. However, the long-term benefits, such as reduced solvent handling expenses and improved workplace safety, often outweigh the initial cost.
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Lack of Awareness: Some users remain unaware of the benefits of solventless laminating adhesives, leading to continued use of traditional solvent-based options. Overcoming this awareness gap is crucial for market growth.
Trends
- Water-Based Solventless Laminating Adhesives: The demand for water-based solventless laminating adhesives is rising due to their eco-friendliness and compliance with environmental regulations. These adhesives offer low odor, enhanced workplace safety, and compatibility with various substrates.
- Diversification of Applications: Solventless laminating adhesives are diversifying into new applications, including automotive and electronics, thanks to their exceptional performance characteristics.
Segments
- Type: Isocyanate-Based and Polyol-Based.
- Application: Food Packaging, Beverage Packaging, and Others.
- Region: Asia-Pacific, North America, Europe, South America, Middle East & Africa.
Competitive Landscape
Detailed analysis of major players include:
- Ashland
- Dow
- Songwon International
- Bostik
- Morchem
- DIC Corp
- ACTEGA Kelstar
- Toyochem
- Toyo-Morton
- BASF
The global Solventless Laminating Adhesive Market is poised for sustainable growth, driven by the demand for eco-friendly and high-performance bonding solutions. As industries prioritize sustainability and consumer preferences evolve, the role of these adhesives in creating eco-friendly packaging becomes increasingly significant, fostering both market expansion and environmental responsibility.
For more information about this report visit https://www.researchandmarkets.com/r/8ezv8j
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