CHICAGO, November 18, 2021 / PRNewswire / – According to New Market Research Report “Laminating Adhesives Market by technology (solvent-based, solvent-free and water-based), resin type (polyurethane and acrylic), end-use industry (packaging, industrial, automotive and transportation) and region – Global forecast to 2026“, published by MarketsandMarkets ™, the laminating adhesives market has high growth potential and is expected to reach a market size of $ 4.1 billion by 2026 from $ 2.9 billion in 2021, at a CAGR of 6.9%. APAC is the largest laminating adhesives market expected to register the second highest CAGR. This strong growth is due to growing demand from the packaging, industry, automotive and transport sectors. There is a growing awareness of the use of environmentally friendly adhesives in this region.
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Polyurethane Segment Dominates Global Laminating Adhesives Market
Polyurethane laminating adhesives are made from urethane polymers. Urethane is produced by a chemical reaction between the diisocyanate and the polyol. Polyurethane laminating adhesives are used in a variety of applications due to their high toughness, abrasion resistance, flexibility (especially at low temperatures), and adhesion to a wide variety of substrates. They have various properties such as flexibility and strength, low curing temperature, excellent low temperature resistance and high environmental resistance. One-component polyurethane adhesives can be elastic or rigid, depending on the structure of the thermoset or elastomer and the curing techniques. They have relatively high shear and peel strength and are sensitive to moisture. Polyurethane laminating adhesives can be one or two component. They are used in the automotive and transport sectors, textiles, packaging and electronics. The main disadvantage of polyurethane laminating adhesives is their high cost.
Solvent Based Technology Dominates Global Laminating Adhesives Market
Solvent-based technology involves the use of a significantly higher level of organic solvents than that of water-based technology. Consumption of solvent-based adhesives is declining in packaging applications. However, they are still required in some applications where solvent-free and water-based or hot-melt technologies do not meet technical requirements. Cost, safety, productivity, and compliance with air quality laws have led to a strong preference for water based or solid / hot melt alternatives. Solvents such as toluene, methyl ethyl ketone and acetone are dangerous for human health and the environment. Solvent-based adhesion occurs by the action of the adhesive on the substrate. Solidification occurs with the evaporation of the solvent.
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APAC is the largest laminating adhesives market during the forecast period
APAC is the second fastest growing laminating adhesives market. An increase in demand for laminating adhesives is mainly attributed to high economic growth and heavy investments in industries such as automotive, consumer goods and home appliances, building and construction and manufacturing. Key factors such as industrialization, growing middle class population, increasing disposable income, changing lifestyles and increasing consumption of packaged products are expected to drive demand for laminating adhesives in the market. during the forecast period.
The major players presented in the Laminating Adhesives Market report are Henkel AG (Germany), 3M Company (United States), Arkema (Bostik), Sika AG (Switzerland).
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