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Asia-Pacific Laminated Adhesives Market Size (2024 - 2029)

The Asia-Pacific laminated adhesives market is anticipated to experience significant growth, driven by the expanding middle class and increased demand for packaged goods in the food and beverage sector. Despite the initial setbacks due to the COVID-19 pandemic, which disrupted various industries, the market is expected to recover and expand, particularly in packaging, construction, and automotive sectors. However, environmental and health concerns related to laminated adhesives pose challenges to market expansion. Nonetheless, the region, with China and India at the forefront, is poised for substantial growth in this market.

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Market Size of Asia-Pacific Laminated Adhesives Industry

Asia-Pacific Laminated Adhesives Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 6.00 %
Market Concentration High

Major Players

Asia-Pacific Laminated Adhesives Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Laminated Adhesives Market Analysis

The Asia-Pacific laminated adhesives market is estimated to register a CAGR of over 6% during the forecast period.

The market was negatively impacted by the COVID-19 pandemic. Many industrial, building & construction, food & beverages, automobile, and packaging operations were shut down during the first half of the pandemic, resulting in a slowdown for the laminated adhesives market. The market is projected to grow steadily as packaging, building, construction, and automotive production observed growth in 2021.

  • The growing population of the middle class in the Asia-Pacific region favors higher consumption of packaged food from the food & beverage industry, resulting in higher demand for laminated adhesives.
  • However, concerns about the overall environment, health and safety aspects associated with laminated adhesives serve as deterrents to market growth.
  • Nevertheless, with China and India emerging as the hub of packaging, construction, and automobile industries, the market is expected to grow prominently in the Asia-Pacific region.

Asia-Pacific Laminated Adhesives Industry Segmentation

Laminated adhesives bond with many different substrates to produce a laminated film with new functions. Apart from being used in the packaging industry, laminated adhesives are used in applications requiring strong bonding holds like automobile manufacturing, insulation facing, coatings, and building & construction industries. The Asia-Pacific laminated adhesives market is segmented by type (polyurethane, acrylic, and other types), technology (solvent-borne, water-borne, solvent-less, and other technologies), application (packaging, industrial, transportation, and other applications), and geography. The report also offers the market size and forecasts for major countries across the region. For each segment, the market sizing and forecasts have been done on the basis of value (USD Million).

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Asia-Pacific Laminated Adhesives Market Size Summary

The Asia-Pacific laminated adhesives market is poised for significant growth, driven by the region's expanding middle class and increasing disposable incomes. This demographic shift is leading to higher consumption of packaged and frozen foods, particularly in China and India, which in turn is boosting the demand for laminated adhesives in food packaging. The market is recovering from the setbacks caused by the COVID-19 pandemic, which had disrupted various sectors such as construction, automotive, and packaging. However, these industries have shown resilience and are on a growth trajectory, contributing to the market's positive outlook. Despite environmental and health concerns associated with laminated adhesives, the market is expected to thrive, supported by the robust development of the packaging, construction, and automotive sectors in these key countries.

China, in particular, is anticipated to be a major driver of the laminated adhesives market in the Asia-Pacific region. The country's packaged food industry is experiencing strong growth due to an increasing population and rising per-capita income, further fueled by the recovery of the tourism sector. The automotive industry in China is also rebounding, with significant increases in vehicle production and sales. These factors, combined with the extensive demand for laminated adhesives in packaging and automotive applications, are expected to propel the market forward. The market is characterized by a consolidated landscape with major players like Dow, Henkel AG & Co. KGaA, and 3M, who are actively expanding their production capacities to meet the growing demand.

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Asia-Pacific Laminated Adhesives Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Population of Middle Class and Resultant Higher Consumption of Packaged Foods

      2. 1.1.2 Emergence of China and India as Hubs of Packaging, Construction & Automobile Industries

    2. 1.2 Restraints

      1. 1.2.1 Environmental, Health and Safety Concerns Associated with Laminating Adhesives

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Polyurethane

      2. 2.1.2 Acrylic

      3. 2.1.3 Others

    2. 2.2 Technology

      1. 2.2.1 Solvent-Borne

      2. 2.2.2 Solvent-Less

      3. 2.2.3 Water-Borne

      4. 2.2.4 Others

    3. 2.3 Application

      1. 2.3.1 Packaging

      2. 2.3.2 Industrial

      3. 2.3.3 Transportation

      4. 2.3.4 Others

    4. 2.4 Geography

      1. 2.4.1 China

      2. 2.4.2 India

      3. 2.4.3 Japan

      4. 2.4.4 South Korea

      5. 2.4.5 Rest of Asia-Pacific

Asia-Pacific Laminated Adhesives Market Size FAQs

The Asia-Pacific Laminated Adhesives Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Dow, Henkel AG & Co. KGaA, 3M, Toyo INK Group and H.B. Fuller are the major companies operating in the Asia-Pacific Laminated Adhesives Market.

Asia-Pacific Laminated Adhesives Market Report Snapshots

Asia-Pacific Laminated Adhesives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)