The laminating adhesives market exhibits high growth potential and is projected to reach a market size of USD 4.1 billion by 2026 from USD 2.9 billion in 2021, at a CAGR of 6.9%. APAC is the largest laminating adhesives market that is projected to register the second-highest CAGR. This high growth is due to the growing demand from the packaging, industrial, and automotive & transportation industries. There is rising awareness about the use of eco-friendly adhesives in this region.
The chemical industry is facing a challenge in terms of adhering to policies and standards implemented by various regulatory authorities such as the Control of Substances Hazardous to Health (COSHH), the European Union (EU), the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH), the Globally Harmonized System (GHS), and the Environmental Protection Agency (EPA) in Europe and North America. The manufacturers in Europe and North America are following these regulations regarding the production and use of laminating adhesives for various applications to reduce the emission of VOCs.
APAC is the second-fastest-growing laminating adhesives market. An increase in the demand for laminating adhesives is mainly attributed to high economic growth and heavy investment across industries such as automotive, consumer goods & appliances, building & construction, and manufacturing.
Key factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles, and rising consumption of packed products are expected to drive the demand for laminating adhesives during the forecast period.
Continuous developments in the market, including new product launches, investment & expansion, merger & acquisitions, and partnerships & agreement are expected to help the market grow. Several products are being introduced, and investments are made on increasing the production capacity of timber laminating adhesives by manufacturers for different applications.
Merger & acquisitions has helped companies enhance their product portfolio as well as their geographic reach.
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