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Global Industry Analysis of High Strength Laminated Adhesives

 

High Strength Laminated Adhesives Market: Highlights

·         High strength laminated adhesives are increasingly used in flexible packaging, which includes several types of paper bonding applications such as production of corrugated boxes and lamination of printed sheets. Flexible packaging is also increasingly used to package food and beverages, health care products, cosmetics and toiletries, household products, and sporting goods.

 

Key Driver of High Strength Laminated Adhesives Market

 

·         Rise in demand for high strength laminated adhesives in the automotive industry is expected to fuel the high strength laminated adhesives market during the forecast period. High strength laminated adhesives are extensively used in the automotive industry for interior and exterior applications. These adhesives are used in interior applications for bonding decorative components and sealing doors and windows. In exterior applications, these adhesives are used in side moldings and vinyl roofs. Additionally, high strength laminated adhesives are used to repair mechanical components, automobile ancillaries, and windshields. Furthermore, they are employed in resealing the vehicle’s body. According to the European Automobile Manufacturers’ Association, the production of passenger cars stood at 15.8 million in the European Union in 2019.

 

High Strength Laminated Adhesives Market: Application Segment

·         Based on application, the global high strength laminated adhesives market can be segmented into packaging, industrial, automotive, and others

·         The packaging segment is accounted for major share of the global high strength laminated adhesives market in 2019. Laminating adhesive products are used in stand-up pouches, wrappers, bags, films, primers, and ink binders.

·         These products are formulated to meet the innovative needs in the flexible packaging industry. High-performance industrial laminating adhesives possesses multiple properties that can be customized to be used in a variety of applications such as solar films, sailcloth, and flexible food packaging applications that require high strength film to metal foil laminations.

·         Expanding at a healthy growth rate, industrial and automotive segments are expected to create significant incremental opportunity during the forecast period

·         In terms of demand, the others segments is projected to expand at a moderate to high pace in the near future

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High Strength Laminated Adhesives Market: Covid-19 Impact

·         The COVID-19 pandemic has had a negative impact on the global economy. It has affected various industrial sectors by hampering their supply chain. With months of consumer lockdown; and international supply chains and retail business shuttered, purchase and consumption behavior has changed significantly across various sectors. This, in turn, has adversely impacted the high strength  laminated adhesives market.

·         The combination of extended lockdowns in developed economies and domestic social distancing has deepened the adverse impact on the market in emerging economies. Longer lockdowns led to severe impact on household income, corporations' liquidity, and banks' asset quality.

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Asia Pacific to be Key Region of Global High Strength Laminated Adhesives Market

·         In terms of region, the global high strength laminated adhesives market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In Asia Pacific, China aims to promote investments in end-use industries in the near future. This is expected to boost the high strength laminated adhesives market in the region.

·         In terms of demand, Asia Pacific held major share of the market in 2019. It was followed by North America and Europe. In Asia Pacific, the market in China and India is anticipated to witness maximum year-over-year growth during the forecast period. Demand for high strength laminated adhesives is high in countries in Southeast Asia for usage in applications such as industrial and packaging.

·         The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period. End-use industries in Mexico have been expanding at a steady pace since the last few years. The UAE also exhibits significant growth opportunities for the market. This is projected to drive the demand for high strength laminated adhesives in Latin America and Middle East & Africa, respectively, during the forecast period.

Key Manufacturers Operating in Market

The global high strength laminated adhesives market was highly fragmented in 2019. Key manufacturers operating in the global market include:

·         3M

·         Ashland

·         H.B. Fuller

·         Henkel

·         The Dow Chemical Company

·         Avery Dennison

·         Bostik

·         Daubert

·         Franklin International

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