Lamination Adhesive Market size was valued at USD 3.2 Billion in 2024 and is projected to reach USD 5.5 Billion by 2033, exhibiting a CAGR of 7.5% from 2026 to 2033.
The South Korean lamination adhesive market is experiencing significant growth, driven by the country's robust packaging, automotive, and electronics industries. As of 2024, the South Korean adhesives market is estimated at USD 1.34 billion, with projections indicating an increase to USD 1.66 billion by 2028, reflecting a compound annual growth rate (CAGR) of 5.62% during the forecast period. This expansion underscores the escalating demand for high-performance lamination adhesives across various sectors.
In the packaging industry, which holds approximately 27% market share in 2024, there's a pronounced shift towards sustainable solutions. Manufacturers are increasingly adopting water-based and hot-melt adhesives, known for their environmental benefits and efficiency. This transition aligns with South Korea's ambitious goal to reduce plastic waste by 50% by 2030 and achieve a 70% recycling rate, up from the current 34%. Such initiatives are reshaping manufacturing processes and product development strategies within the adhesives sector.
The automotive sector, accounting for 13% of South Korea's manufacturing production and employing around 12% of the workforce, remains a crucial driver of the adhesives market. The industry's transformation is evident with Hyundai Motor Group's announcement in 2022 to invest KRW 63 trillion (USD 48 billion) by 2025, focusing on electric vehicle production and advanced manufacturing technologies. This investment is propelling innovation in automotive adhesives applications, essential for lightweight and durable vehicle components.
Technologically, the market is witnessing a surge in the adoption of hot-melt adhesives, which dominate with approximately 29% market share in 2024. Their widespread applications across packaging, disposable hygiene products, automotive, and bookbinding sectors contribute to this dominance. Additionally, the water-borne adhesives segment is experiencing rapid growth, projected at approximately 6% during 2024-2029. This growth is driven by manufacturers' preference for eco-friendly adhesives with lower operational costs and higher production capacities.
In terms of resin types, polyurethane adhesives maintain a leading position, holding about 25% market share in 2024. Their superior bonding strength, flexibility, and resistance to environmental factors make them ideal for applications in building construction, woodworking, and automotive sectors. Meanwhile, the VAE/EVA segment is emerging as the fastest-growing category, with an expected growth rate of approximately 7% during 2024-2029. This surge is attributed to their increasing use in the packaging industry and expanding applications in the healthcare sector.
The competitive landscape of the South Korean adhesives market is characterized by a mix of global conglomerates and local specialists. Companies are focusing on product innovation, particularly in developing sustainable and high-performance specialty adhesives. Strategic partnerships and collaborations are becoming increasingly important, enabling firms to expand their distribution networks and enhance technological capabilities. Notably, in May 2023, H.B. Fuller acquired a stake in Beardow Adams, a UK-based company specializing in sustainable adhesive solutions, aiming to strengthen its market position and meet the growing demand for environmentally friendly adhesives.
Overall, the South Korean lamination adhesive market is poised for continued growth, driven by technological advancements, sustainability initiatives, and the expanding needs of key industries. As companies invest in research and development to create innovative and eco-friendly adhesive solutions, the market is set to evolve, meeting both domestic and international demands.
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Henkel
Bostik
H.B. Fuller
Ashland
Dow
3M
Vimasco Corporation
Sika Automotive GmbH
Coim
Flint Group
Toyo-Morton
DIC Corporation
Huber Group
Longteng Biotechnology
Kanuo
Wanhao
Qixiang
Lijia
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Lamination Adhesive Market
Water-based Adhesives
Solvent-based Adhesives
Hot Melt Adhesives
Reactive Adhesives
Other Specialty Adhesives
Packaging
Woodworking
Automotive
Construction
Electronics
Food and Beverage
Healthcare
Consumer Goods
Textiles
Industrial Manufacturing
Heat Curing
UV Curing
Ambient Curing
Moisture Curing
Chemical Curing
Single-component Adhesives
Multi-component Adhesives
Pre-mixed Adhesives
Custom Formulated Adhesives
Bio-based Adhesives
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Lamination Adhesive Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Lamination Adhesive Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Lamination Adhesive Market, By Type
6. South Korea Lamination Adhesive Market, By Application
7. South Korea Lamination Adhesive Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Lamination Adhesive Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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