The market share of lamination adhesives for flexible packaging is estimated to be 4% of the global adhesives market in 2016, and is projected to increase at a CAGR of 6.4% throughout the forecast period (2016–2024). The market value of lamination adhesives for flexible packaging in 2016 is estimated at US$ 1.3 Bn and this is likely to increase to US$ 2.2 Bn by 2024.
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The Lamination Adhesives Market is a rapidly expanding sector in the world of industrial adhesives. Lamination adhesives are used for bonding two surfaces together, and for reinforcing the bond between them. Lamination adhesives can be divided into two general categories: self-adhesive lamination and laminating adhesives with a carrier film. Self-adhesive lamination requires only one layer of adhesive and has no need for a carrier film, while laminating adhesives with a carrier film require an additional layer of adhesive to provide extra strength to the bond.
The growth of the Lamination Adhesives Market is driven by factors such as increasing demand from end-use industries such as packaging and printing, rising trend in flexible packaging, growing demand from emerging economies, and technological advancements in lamination adhesives.
Various types of Lamination Adhesives are available on the market today, including hot melt Lamination Adhesives (HMLAs), solvent based Lamination Adhesive (SBLA), water-based Lamination Adhesive (WBLA) and UV curing Lamination Adhesive (UVCLA). HMLAs have been used extensively in various industries due to their excellent thermal stability, good mechanical properties and durability over time. However, solvent-based Lamination Adhesive is also gaining popularity owing to its lower cost compared to HMLAs while offering similar performance characteristics.
On regional basis North America has maintained its stronghold on Lamination Adhesive Market owing to high consumption rate for products like paperboard packaging materials which require lamination adhesive during their manufacturing process along with increasing demand from other end user industries such as automotive among others. Europe follows North America closely in terms product consumption while Asia Pacific region will witness highest growth rate over forecast period 2021–2027 due growing industrialization rate especially in countries like India and China which require huge amount of lamination adhesive during various industrial processes related to construction among several others applications driving overall market growth during this period
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Major players operating within Lamimation Adhesive Market include 3M Company (U.S.), Avery Dennison Corporation (U.S.), Henkel AG & Co., KGaA (Germany), Ashland Inc.(U.S.), Arkema SA(France), Bostik SA (France), Intertape Polymer Group Inc.(Canada) , Nitto Denko Corporation(Japan) , Lohmann GmbH & Co KG(Germany) , Sika AG(Switzerland) among many others . These companies are heavily investing into R&D activities so as acquire competitive edge over other competitors along with providing variety of product portfolio depending upon customer requirements . Companies are also focusing upon strategic merger & acquisition activities so as cope up with increasing competition arising out from local manufacturers who provide products at lower cost than renowned international players present within market space .
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