Waterborne Laminating Adhesives Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Waterborne Laminating Adhesives Industry Hit Worst due to Russia-Ukraine War Impact?
The global waterborne laminating adhesives market size is expected to spike during the forecast period. Its beneficial properties have led to the growing demand from domestic and commercial applications, which, in turn, can propel market growth.
Waterborne laminating adhesives are adhesive solutions that provide several benefits such as, heat and chemical protection, dimensional stability, initial and high final strength, versatility, durability, dimensional stability, and wettability for a diverse range of machine speeds. It is used to link and connect all types of metal. As a result, the adhesive’s demand in the domestic and commercial sectors is expected to grow. Waterborne laminating adhesives are specifically built for joining surfaces of various materials together. Thus, this factor can escalate the market growth in the foreseeable period.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Waterborne Laminating Adhesives Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Waterborne Laminating Adhesives Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
By application, the market is segmented into industrial applications, flexible packaging, and automotive applications. Geographically, it is clubbed into Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa.
Highlights of the Report
- The report analyzes the top segments and the latest market trends.
- It conducts a comprehensive analysis of the driving and restraining factors and the impact of COVID-19 on the global market.
- This report examines the strategies implemented by the market’s key players and the regional developments.
Driving and Restraints
Increasing Applications in Food Packaging Industries to Boost Market Growth
Waterborne laminating adhesives are used extensively in the food packaging industry because of the benefits of the products, such as less curing time, low emissions, and less curing time. It provides excellent protection to the packaged goods because of its excellent resistance against damages. Waterborne laminating adhesives are used in bottle labels, snack food boil-bag packaging, and other applications because of their excellent properties. In addition, waterborne laminating adhesives are used in the automotive sectors to fix airbags, car doors, glove boxes, instrument panels, and other materials. Thus, this factor is likely to bolster the waterborne laminating adhesives market growth.
However, the fluctuating prices of raw materials and strong competition are expected to hamper the market growth.
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Rising Economic Development to Foster Market Growth in Asia Pacific
Asia Pacific is projected to dominate the waterborne laminating adhesives market share because of the economic development in the emerging economies. In addition, the research and development, product advances, growing demand, and development from end-user industries are expected to bolster the market growth.
In Europe, the rising awareness regarding waterborne laminating adhesives and the increasing per-capita income have led to significant investment in the packaging sector, which can bolster market growth.
In the Middle East & Africa, the advancement in production technologies is expected to bolster the market growth.
Incorporation of Advanced Production Technologies to Enhance Brand Position
The prominent companies operating in the market have incorporated advanced production technologies to enhance their workflow efficiency. It enables the companies to enhance the waterborne laminating adhesive’s quality and help them to meet their goals. Furthermore, the launch of novel products can enhance the competitive player’s product portfolio. Further, heavy investments in the research and development of products can attract a huge customer base and improve the ranking of competitive players. In addition, the incorporation of expansion strategies can help companies to enhance their reach in the market.
- September 2017: B. Fuller announced its acquisition of Royal Adhesives and Sealants to enhance the company’s global status as a leading manufacturer in the adhesive industry.
List of Key Players Profiled in the Waterborne Laminating Adhesive Market Report
- The Dow Chemical Company
- Ashland Inc.
- Huber Group
- DIC Corporation
- D. Davis
- Toyo Morton
- B. Fueller
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