Packaging Adhesives Market to Grow with a CAGR of 3.20% through 2028
Increasing
demand from the pharmaceutical and food industry are factors driving the Global
Packaging Adhesives Market in the forecast period 2024-2028.
According to
TechSci Research report, “Packaging Adhesives Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Packaging Adhesives Market stood at USD 14.34 billion in 2022 and is
anticipated to grow with a CAGR of 3.20% in the forecast period, 2024-2028.
Packaging adhesives hold immense significance in delivering strong adhesive
solutions that meet the stringent requirements of a diverse range of
applications found in various end-use products like boxes and cartons. These adhesives
come in diverse formulations, with water-based adhesives being a notable
example. These adhesives are created through the combination of water,
polymers, and additives. The surging consumer demand for packaged food items is
poised to drive the expansion of the market. Packaged food products offer the
advantage of prolonged shelf life at room temperatures, facilitating convenient
and hassle-free consumption. Within the realm of packaged food, flexible
packaging has garnered significant attention, and the escalating utilization of
adhesives in its production is projected to be a driving force behind the
market's growth throughout the forecast period. Flexible packaging is
engineered by melding multiple layers of polymers to confer mechanical strength
and printability to the final product. These diverse polymer layers are
extruded to form a multilayer film in a single manufacturing process, leading
to reduced production time and cost efficiency. The merits are anticipated to
surge the demand for flexible packaging in the anticipated future, thereby
exerting a positive impact on the consumption of packaging adhesives.
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Furthermore, the
emphasis of key market players on e-commerce and the digitalization of
technology is expected to positively influence the need for flexible packaging
solutions. Retailers engage with customers to generate revenue through sales.
Similarly, manufacturers also participate in the retail sector by directly
selling to customers via online e-commerce platforms.
Global
Packaging Adhesives Market is segmented into technology, resin, application,
regional distribution, and company
Based on its
technology, the water-borne segment has emerged as the predominant market
leader. Water-based adhesives, renowned for their superior resistance to
moisture in comparison to other adhesive varieties, exhibit direct solubility
in water. Among the frequently employed water-based adhesives in diverse
industrial applications, notable examples include PVA, gluten, starch, skin,
and casein. The evolution of technology has greatly expanded the scope of
applications for these adhesive offerings. The realm of water-based adhesives
encompasses two primary classifications: solutions and latexes. Solutions are
created from materials that are exclusively soluble in water or alkaline water
mediums, encompassing substances like starch, dextrin, blood albumen, methylcellulose,
and polyvinyl alcohol. Conversely, latex pertains to a stable dispersion of a
polymeric substance within an aqueous environment. Latex exhibits enhanced
stability when compared to solution-based adhesives, rendering it a swifter
substitute for solvent-based alternatives.
Additionally,
solvent-based products are crafted by blending adhesive materials with suitable
solvents to formulate efficacious polymer solutions for adhesion. These
high-performance products are achieved by harmonizing the stable molecular
structure of the polymer with a compatible solvent. However, the mounting
environmental concerns linked to the emission of volatile organic compounds
(VOCs) are projected to hinder the growth trajectory of solvent-based adhesives
in the foreseeable future.
Furthermore,
hot-melt offerings hold significant prominence in packaging applications due to
their exceptional inherent attributes, notably their capability for
instantaneous bonding. Differing from water-based and solvent-based counterparts,
hot-melt solutions are particularly well-suited for packaging applications that
demand rapid bond formation. These solutions offer advantages such as ease of
application and expedited processing.
Based on resin,
the polyvinyl acetate (PVA)
segment commands the highest share of revenue. PVA adhesives
showcase remarkable versatility, finding utility in bonding a wide spectrum of
substrates commonly encountered in packaging, encompassing paper, cardboard,
wood, and select plastics. This adaptability renders PVA adhesives suitable for
an array of packaging applications. Managing PVA adhesives is typically
hassle-free, and their application is user-friendly in packaging operations.
They can be employed through diverse techniques, including spraying, roller coating,
and brushing. PVA adhesives exhibit a relatively swift drying period,
facilitating efficient production procedures. This rapid drying quality proves
especially advantageous for high-speed packaging lines where prompt assembly
holds paramount importance. Additionally, these adhesives manifest commendable
initial bond strength, positioning them well for applications necessitating
prompt adhesion. They establish robust bonds with diverse substrates,
safeguarding the structural integrity of the packaging. Moreover, these
adhesives offer a measure of flexibility and elasticity upon drying. This
flexibility can accommodate the movement and stresses that packaging materials
might undergo during transportation and handling.
Based on
application, the flexible
packaging segment commands the highest share of revenue. Adhesives
applied in the realm of flexible packaging demonstrate efficiency across a
diverse array of processes, including heat and cold sealing, lidding,
lamination, blister packaging, horizontal flow packaging, and fill packaging.
The upsurge in the demand for flexible packaging is intimately intertwined with
the burgeoning requirements of the food and beverage sector. Moreover, there is
a noteworthy surge in the adoption of water-based adhesives within the labeling
domain, primarily driven by their eco-friendly attributes. These adhesives are
meticulously crafted using naturally occurring and soluble synthetic polymers,
expertly tailored to meet the demands of labeling and bonding applications. In
the sphere of packaging, transparent labels are progressively taking precedence
over traditional inks for the purpose of container tagging. As the appetite for
labels continues to escalate, the demand for these adhesives is poised to
witness a marked upswing in the imminent years.
Based on region,
North America took center stage as the leading contender in the Global
Packaging Adhesives Market. The region is experiencing a significant upswing in
the demand for water-based adhesives, primarily propelled by the rapid progress
in technology, the embrace of bio-based raw materials, and the integration of
innovative techniques. Additionally, the cost-effectiveness and user-friendly
application of water-based adhesives through techniques such as roller-coating,
screen-printing, and spraying are anticipated to further bolster their adoption
in the coming years.
Moreover, the
Asia Pacific region is anticipated to showcase the most rapid growth rate in
the forecast period. This surge can be accredited to evolving lifestyles, an
upward trend in disposable incomes, and a burgeoning population, with China and
India emerging as prominent players. This demographic transformation is
triggering an increased appetite for packaged food items. The rising production
of packaged food and beverages within the region is expected to be a
substantial driving force for the market's expansion in the foreseeable future.
Major companies
operating in Global Packaging Adhesives Market are:
- 3M Co.
- Arkema Group
(Bostik)
- Avery Dennison
Corporation
- Ashland Inc
- Dow Chemical
Company
- Henkel AG &
Co. KGaA
- H.B. Fuller
Company
- Jowat SE
- Paramelt RMC B.V.
- Wacker Chemie AG
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“The ascent of
e-commerce and digital retail has triggered an upswing in the need for sturdy
packaging solutions. Packaging adhesives tailored for e-commerce applications
must be equipped to tackle the hurdles posed by extended shipping distances,
fluctuating weather conditions, and rugged handling. Adhesives employed in this
sphere are expected to offer robust bonding attributes to thwart any tampering
with packages and guarantee the security of products. In response,
manufacturers are actively formulating adhesives with heightened flexibility,
endurance, and resilience against external influences, precisely addressing the
distinct demands of the e-commerce industry creates a lucrative opportunity in
the market growth,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Packaging
Adhesives By Technology (Water-based, Solvent-Based, Hot Melt, Others), By
Resins (PVA, Acrylics, Polyurethane, Others), By Application (Cases &
Carton, Corrugated Packaging, Labeling, Flexible Packaging, Folding Cartons,
Speciality Packaging, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Packaging Adhesives Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Packaging Adhesives Market.
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