Selbyville, Delaware , April 23, 2024 (GLOBE NEWSWIRE) -- Packaging Adhesives Market is estimated to be worth over USD 21.5 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The surging online retail activities in the booming e-commerce sector across the globe along with the increasing demand for secure and reliable packaging solutions will drive the market expansion. Adhesives play a crucial role in ensuring the integrity of packages during transit and meeting the stringent requirements of e-commerce logistics. Moreover, the trend of customized and specialized packaging solutions in various industries is spurring several market players to develop tailor-made packaging adhesives to meet specific requirements, further augmenting the industry outlook. For instance, in November 2022, Bostik introduced two new revolutionary solutions for the Indian tape and label industry.
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Solvent-based adhesives to gain significant traction
Solvent-based packaging adhesives market is estimated to witness high demand between 2024 and 2032. The versatility, fast-setting properties, and resilience of these adhesives is contributing to their popularity in multiple industries, mainly F&B packaging. Solvent-based packaging adhesives, formulated with acetone and toluene, offer strong bonding capabilities and rapid curing, to render enhanced packaging integrity. Moreover, the rising adoption of eco-friendly alternatives across multiple industries is likely to boost the product acceptance.
Rising demand in industrial packaging
Packaging adhesives market is set to witness high demand from the industrial packaging end-use segment during 2024-2032. This is owing to the growing need for reliable and durable adhesives to ensure the secure containment and transportation of goods. Packaging adhesives are essential in bonding diverse materials used in industrial packaging, including corrugated boxes, metal, and plastic containers. The consistent growth in industrial activities, logistics, and global trade is further amplifying the demand for packaging adhesives.
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Asia Pacific to emerge as a lucrative market destination
Asia Pacific packaging adhesives market held a sizable revenue share in 2023 and is poised to exhibit robust growth through 2032. The expanding manufacturing sector, especially in China and India is fueling the demand for efficient packaging solutions. The rising e-commerce activities coupled with the increasing disposable incomes is increasing the consumption of packaged goods, further elevating the need for reliable adhesives. Additionally, the strong focus on sustainable and eco-friendly packaging solutions to match the rising environmental consciousness across the region will accelerate the industry expansion.
Packaging Adhesives Market Participants
Some of the top firms operating in the packaging adhesives industry are 3M Company, Bostik (a subsidiary of Arkema Group), Henkel AG & Co. KGaA, H.B. Fuller, Avery Dennison Corporation, Dow Inc., and Ashland Global Holdings Inc. Ongoing innovation in adhesive technologies led by these firms is expected to foster the development of products with improved performance, adhesion, and application efficiency for sustained market growth. For instance, in April 2023, Fujifilm Graphic Communications collaborated with Henkel Adhesive Technologies to provide users with future digital inkjet water-based Jet Press FP790 flexible packaging solutions with production and environmental benefits.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
