Rockville, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Worldwide demand for packaging adhesives is projected to accelerate at a noticeable CAGR of 7.5% from 2023 to 2033, according to a new industry analysis by Fact.MR, a market research and competitive intelligence provider. As such, the global packaging adhesives market is predicted to reach a market valuation of US$ 26.5 billion by 2033-end.
Adhesives are essential components that are used in the paper and packaging industries. Rigid packaging, flexible packaging, and other solutions are gaining traction in these industries. At present, the packaging industry is growing at a noticeable rate owing to rising requirements for appealing design along with consumer inclination towards innovative and sustainable packaging solutions.
Companies that are involved in manufacturing packaging adhesives are inclining towards the production of sustainable products with durability. Solvent-based, water-based, and hot-melt adhesives are key segments of packaging adhesives. Noteworthy growth of the e-Commerce sector is propelling the requirement for effective solutions, which will boost the demand for packaging adhesives over the coming years.
- UPM Specialty Papers has provided data, according to which, the U.S. e-Commerce industry represented around 16% of total spending in the retail sector in 2020.
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Effective packaging adhesives ensure superior viscosity and durability, shorter setting time, and provide visuals to the end product. In recent years, there has been a significant increase in the requirement for packaging adhesives that are water-based due to their low impacts on the environment. These features of packaging adhesives are estimated to lead to novel expansion opportunities for industry players during the forecasted period.
In recent years, numerous industries such as personal care & cosmetics and food & beverages have been undergoing noticeable growth. These industries are predicted to contribute to expansion opportunities for packaging adhesive manufacturers over the coming years.
- According to Shiseido, the sales value of cosmetic products was US$ 1.9 million while, showing an increase of 21%.
Growing use of packaging adhesives for multiple applications--for instance, the packaging of corrugated boxes, paper bags, cartons, and boxes--are anticipated to provide ample opportunities for market players in the years ahead.
Key Takeaways from Market Study
- The global packaging adhesives market has been projected to reach a value of US$ 26.5 billion by the end of 2033.
- The Canadian market is estimated to expand at a high CAGR of 6.1% through 2033.
- The present sales value of packaging adhesives is US$ 12.8 billion.
- The market is forecasted to expand at an impressive CAGR of 7.5% from 2023 to 2033.
- The market in Germany is expected to progress at a CAGR of 5.6% through 2033.
“Noticeable growth of e-Commerce companies is stimulating the requirement for effective packaging solutions, which is expected to propel the demand for various packaging adhesives,” says a Fact.MR analyst.
Segmentation of Packaging Adhesives Industry Research
- By Technology :
- Water-based
- Solvent-based
- Hot-melt
- Others
- By Application :
- Corrugated Packaging
- Cases & Cartons
- Labeling
- Flexible Packaging
- Folding Cartons
- Specialty Packaging
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Competitive Landscape
Manufacturers of packaging adhesives are inclining towards new developments to ensure product standards in the global market. Further, these players are also involved in mergers and acquisitions for the efficient supply chain management.
For instance:
- Henkel, in May 2022 launched a novel RE range of coatings and adhesives which are designed specifically for recycling. These newly launched solutions enable the creation of sustainable flexible packaging at the designing phase.
- Arkema, in December 2021, announced the acquisition of Permoseal in South Africa. The former is one of the key players in the global industry that provide solutions for construction, woodworking, and packaging. This acquisition will help the organization to expand its footprint in South Africa.
Key Companies Profiled
- Wacker Chemie
- Toyochem Co., Ltd.
- Jowat Corp
- Huntsman Corporation
- Paramelt
- Hitachi Chemical Company Ltd.
- Dymax
- Avery Dennison
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global packaging adhesives market for the period 2023–2033.
The study divulges essential insights into the market on the basis of technology (water-based, solvent-based, hot-melt, others) and application (corrugated packaging, case & carton, labeling, flexible packaging, folding cartons, specialty packaging, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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