South America Laminating Adhesives Market
COVID-19 impact
Amid the Covid-19 pandemic, the South American laminating adhesives market saw a considerable amount of growth due to the increase in the need and use of packaging in the medical and food industry across the globe. Laminating adhesives saw an increased application in the medical field during the covid-19 pandemic, which lead to the growth of the laminating adhesives market. The demand and consumption was increasing from other key-use industries like construction industry, automobile industry and others. However, demand decreased due to the economic restrictions around the globe. The South American laminating adhesives market is also estimated to gradually increase in 2021.
South America Laminating Adhesives Market Segment Analysis – By Type
Solvent-based adhesives segment held the largest share of 36% in the South America laminating adhesives market in the year 2020. Solvent-based adhesives offer advantages such as high bond strength, lower emission and lesser cure time. This has led to the adoption of solvent-based adhesives or laminating adhesives in various applications. The increased demand from food packaging industry is highly driving the solvent-based laminating adhesives. According to the United States Department of Agriculture, the total value of food processing industry in Brazil stood at US$177 billion in the year 2019, an increase of 7% as compared to the previous year. This is contributing to the demand for food packaging industry, which in turn is driving the demand for solvent based segment in the South America laminating adhesives market.
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South America Laminating Adhesives Market Segment Analysis – By Resin Type
Polyurethane segment held the largest share of 42% in the South America laminating adhesives market in the year 2020. Polyurethane adhesives are stronger than water-based and hot melt adhesives. It forms bonds quickly and takes lesser time to cure. Polyurethane are very flexible, durable, and provide good impact resistance. Polyurethane adhesives are compatible in a wide range of temperature and has excellent resistance to high temperature. Polyurethane adhesives are also highly resistant to chemicals and works well under any contact of chemicals. Polyurethane adhesives are also waterproof and cures faster than other types of resin based adhesives like epoxy in situations where there is contact of water. This is highly driving the polyurethane adhesives segment in the South America laminating adhesives market.
South America Laminating Adhesives Market Segment Analysis – By Product
Tape adhesives segment held the largest share of 32% in the South America laminating adhesives market in the year 2020. Tape adhesives are being used as an alternative for fasteners, screws, and in welding. Tape adhesives have polyvinyl acetate which helps in facilitating better adhesion and provides glue properties. Tape adhesives offer structural strength, which is one of the main reasons why it can replace bolts, rivets, and other mechanical fasteners. Tape adhesives help in enabling lower temperature applications which aid in simplifying the manufacturing processes. Tape adhesives have extensive applications in various areas such as building & construction, medical & healthcare, automobile, electrical & electronics and aerospace and others, which is hugely driving the South America laminating adhesives market.
South America Laminating Adhesives Market Segment Analysis – By End-Use Industry
Packaging industry held the largest share of 34% in the South America laminating adhesives market in the year 2020. The increase in the application of solvent-based adhesives or laminating adhesives in the packaging industry is highly driving the South America laminating adhesives market. The increase in the use of packed foods and other items in the South America region is hugely driving the South America laminating adhesives market, as solvent-based adhesives are extensively used in the food packaging industry. According to Food Export Association, the food and beverage industry of the Brazil contributed about 10.6% towards the GDP of Brazil in the year 2019. Furthermore according to Embassy of India in Argentina, the export value of food and beverage industry was valued at US$19.4 billion, an increase of 0.83% from the previous year, and an increase of 16.67% in the volume of exports at 35 million tons in the year 2019. The increase in the sales of the food industry is increasing the demand for food packaging which is driving the growth of South America laminating adhesives market.
South America Laminating Adhesives Market Segment Analysis – By Geography
Brazil held the largest share of 39% in the South America laminating adhesives market in the year 2020. According to International Trade Administration, the Government of Brazil was increasing the investment in infrastructure projects at US$1 billion for ports, US$14 billion in rail, US$2.5 billion in airports and US$36 billion in highways. This is driving the building and construction industry in Brazil, which is increasing the demand for laminating adhesives market as solvent-based adhesives and polyurethane adhesives are widely used in the building and construction sector. With the increase in the population of middle-class families, which makes more than half of Brazil’s population, the spending capacity of consumers in Brazil remained constant for a long time, even during the slowdown of the economy and during recessions. This will further drive the laminating adhesives market in Brazil.
South America Laminating Adhesives Market Drivers
Increase in demand from Flexible Packaging Industry
The increase in the demand for laminating adhesives from the flexible packaging industry owing to the increase in the use of bags, pouches, shrink films, carded packaging is driving the laminating adhesives market. Flexible packaging is lightweight, making it easy to transport and store. This makes the flexible packaging easy to carry and use, which is rapidly increasing the growth of the flexible packaging industry. Various types of laminating adhesives such as water-based adhesives, solvent-based adhesives, reactive adhesives and others are majorly used in the packaging industry. This is hugely driving the South America laminating adhesives market.
Increasing application in the food and beverages industry
The increase in the application of the laminating adhesives in the food and beverages industry is highly driving the laminating adhesives market. According to Food Ingredients South America, the largest gathering of food and beverage professionals in the region can be found in Brazil with an increase of 3% in physical production (volume) and an increase of 4% in actual sales, and US$40 billion in exports. The increasing application in the packaging of food and beverages is one of the significant factor contributing to the growth of South America laminating adhesives market.
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South America Laminating Adhesives Market Challenges
Stringent regulations by the government
The production of laminating adhesives involve the releasing of various VOC (Volatile Organic Compounds) into the surroundings which will cause pollution such as air pollution, water pollution and others. This has attracted various regulations from Government bodies across the globe. For instance, the Environmental Protection Agency is working with Brazil’s National Water Agency (ANA) in building capacity for water quality management, in collaboration with the US Geological Survey (USGS) under an inter-agency agreement on Brazil Water Quality. This clause includes issues about water quality, exploring topics such as Total Maximum Daily Loads (TMDLs)/Impaired Waters Issues; and Assessments & Indicators on Water Quality. This is one of the significant challenges faced by the South America laminating adhesives market.
South America Laminating Adhesives Market Industry Outlook
Collaborations, partnerships, investments, facility expansion, production expansion, acquisitions and mergers are some of the key strategies adopted by players in the South America Laminating Adhesives Market. Major players in South America Laminating Adhesives Market include:
KLEBCHEMIE M. G. Becker GmbH & Co. KG
Eastman Chemical Company
H.B Fuller Company
MACTAC
SIKA AG
Ashland Global Specialty Chemicals Inc.
3M
Arkema Group (Bostik)
FLEXcon
Coim Group among others.
Acquisitions/Technology Launches
In February 2019, Vimasco Corporation launched a laminating adhesive called 727. 727 is water and fire based latex adhesive designed for laminating facings to insulation board by roller or spray.
Key Takeaways
Brazil market held the largest share in the South America laminating adhesives market owing to the development of various key-use industries such as construction, automobile and healthcare industries.
The increase in the demand from the medical industry, especially during the Covid-19 pandemic has led to the hike in the production and sales of South America laminating adhesives.
The increase in demand for solvent-based adhesives owing to its various properties such as high bond strength and lesser cure time from key use industries such as packaging industry, building & construction industry and other industries is driving the demand for South America laminating adhesives market.
Amid the Covid-19 pandemic, the South America laminating adhesives market witnessed a considerable amount of growth owing to the increase in the use of laminating adhesives in the medical packaging and other medical applications.
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