PUNE, MAHARASHTRA, INDIA, October 17, 2019 /EINPresswire.com/ — Summary:
A new market study, titled “Discover Global Asia-Pacific Laminating Adhesives Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Global Asia-Pacific Laminating Adhesives Market
Lamination is the process or method where the composite material is produced in multiple layers that are held together by a binding substrate that helps give improved strength, insulation, and appearance. The adhesive used in this process helps the layer(s) of plastic film stick to the surface of the substrate using heat and pressure. This process and also has added benefits such as flame resistance, optical clarity, thermoforming ability, chemical resistance which leads to an increase in demand from various end-user industries. In the Asia-Pacific laminating adhesives market, its major use is in packaging industry.
The main driver for the Asia-Pacific laminating adhesives market is the growing flexible packaging industry. With the increase in the demand for packaged goods especially in the food and beverage industry, the market for laminating adhesives has seen rapid growth. In 2018 alone, there were a total of 682 Billion units of packaged goods in this sector. For the Asia-Pacific laminating adhesives market, the data collected from the region from the period shows that China is the largest consumer of flexible packaging while India has the highest CAGR at about 8%.
While the low production cost in India is a major factor for the demand, the growing concerns over plastic disposal and pollution could be an inhibiting factor for the market. The report on the Asia-Pacific laminating adhesives market gives insights into the market studying the trends and developments and factors affecting the market using Porter’s Five analysis. It gives the market forecast up to the year 2025. The key manufacturers and the competitive landscape of the Asia-Pacific laminating adhesives market has also been covered by the report.
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Based on the product types, the Asia-Pacific laminating adhesives market is segmented into Solvent-Based, Water-Based, and Solventless. According to the report, the Waterborne laminating adhesives segment is set to register the highest growth rate over the forecast period. These adhesives are manufactured from naturally occurring materials, such as sodium silicates, dextrin, and natural rubber. Due to governmental pressure for laminating converters to reduce VOCs, these are becoming more popular. By application, the market is segmented into flexible packaging, industrial applications, automotive applications, and others. Among these, flexible packaging is one of the important adhesive solutions commonly used for food packaging as laminating adhesive is a more cost-effective process as compared to others.
The Asia-Pacific laminating adhesives market, segmented based on regional markets, can be split into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The growing middle-class population, along with urbanization of Western China, has increased in the demand and production of vehicles in the country which further leads to the rise in the demand for laminating adhesives. In 2017, about 29.1 million units were sold in China, an increase of 3.9% from 2016. Emerging economies of Southeast Asia such as Malaysia, Indonesia, and Thailand that host events regarding the chemical industry at a global level, drive the growth in the Asia-Pacific region for lamination adhesives market.
FLEXcon Company, Inc., a global leader in coated and laminated films and adhesives used in graphics applications, launched its latest product HX5000. It is a 4-mil white opaque vinyl with a textured, light contact adhesive system that allows graphics to slide and be repositioned on the application surface until firm pressure is applied. It is mainly useful in short-term large-format applications.
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Source: EIN Presswire