New York (US), April 27, 2023 (GLOBE NEWSWIRE) -- Flexible Packaging Adhesive Market Overview
According to a Comprehensive Report by Market Research Future (MRFR), "Flexible Packaging Adhesive Market Information by Type, Application, and Region - Forecast till 2030", The market for flexible packaging adhesive will increase from USD 12,060.01 Million in 2022 to USD 18,543.36 Million by 2030, with a CAGR of 5.52% between 2022 and 2030.
Market Synopsis
The chemistry of flexible packaging adhesives is mostly based on urethane and acrylic. Backbone variants produce distinctive performance characteristics. Depending on the composition, an adhesive may be solvent, water, or solventless-based.
Almost every industry that requires non-mechanical bonding for moving parts and components uses flexible packaging adhesives. They are also appropriate for a variety of substrate materials and enable sag-resistant connections in designs where aesthetics play a key role.
Get a Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/11493
Market Competitive Landscape:
The affluent vendors in the flexible packaging adhesive industry are
- H.B. Fuller
- Henkel
- Bostik
- Lubrizol
- BASF
- DSM
- Hunstman
- 3M
- Eastman
- Evonik
- Ashland
- Wacker Chemicals
- Dow Chemical Company
- Morchem
- Inktech
- Mitsui Chemicals
- Sika
- ExxonMobil Chemical
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 18,543.36 million |
| CAGR | 5.52% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America |
| Key Market Drivers | Increasing demand for flexible adhesive in packaging industry |
Browse In-depth Market Research Report (128 Pages) on Flexible Packaging Adhesive:
https://www.marketresearchfuture.com/reports/flexible-packaging-adhesive-market-11493
The focus of major market participants on e-commerce and technology digitalization is projected to have a beneficial impact on the demand for flexible packaging solutions. Retailers interact with customers to sell to them in order to gain income. Manufacturers participate in the retail industry as well by selling directly to customers online through e-commerce platforms. Some of the variables influencing the retail industry in the Asia-Pacific area include the availability of storage space and the increased accessibility of goods.
Manufacturing locally is one of the main business tactics used by manufacturers in the worldwide Flexible packaging adhesive Industry that not only benefits the customers but also helps them increase their share. this enables them to lower operational expenses.
Market USP Covered:
Market Drivers:
Plastic, paperboard, wood, metals, glass, and other materials, among many others, are utilized in adhesive packaging. However, adhesive packaging has lately been the fastest-emerging trend out of all the choices available in the packaging industry. The food and beverage, cosmetics, and healthcare industries utilize it extensively, and as a consequence, there is an increasing need for packaging solutions, which fuels the growth of the global packaging market. Plastic and adhesives are widely employed in the construction of the bottles, vials, ampoules, and jars that are used to package a wide range of goods, including food, medicine, cosmetics, and other items.
The market for flexible packaging adhesives benefits from the increased need for packaging from several end-use industries. Additionally, the fast industrialization of many nations throughout the world has led to an increase in the incidence of cancer and respiratory ailments, which calls for the use of high-end pharmaceuticals and healthcare technologies.
According to Jones Packaging Inc., 81% of individuals (aged 65 and over) in Canada, one of the pharmaceutical markets with the fastest rate of growth, use one or more prescription medications daily. About 29% of these people frequently use five or more medications. Chronic illness diagnoses are also on the rise in Canada and are projected to reach a startling 9.8 million individuals by 2036. As a result, people spend more money on medications.
Market Restraints:
Government laws' effects on various raw materials used to make adhesives might impede the market's expansion.
Nevertheless, the industry will continue to have strong growth potential given the e-commerce sector's rapid development.
COVID 19 Analysis
Various habits arose post the COVID-19 outbreak, including working from home, maintaining cleanliness, and working in a sanitary environment. Due to the possibility of contracting the coronavirus, many everyday activities, including riding public transportation to work, were risky.
But COVID-19 had a negligible effect on the market. Due to the COVID-19 epidemic, eating out was more difficult and home cooking increased. As a result, substantial declines in the production values of juices, water, soft drinks, and alcoholic beverages were almost entirely offset by increases in the production of wheat flour, dairy, health foods, and convenience or ready-to-eat meals.
The market was able to continue its pace because of the surging rising demand from the food and beverage sector, expanding consumer awareness of food safety, and the need to reduce the risk of contamination.
Buy Now:
https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=11493
Market Segmentation
By Type
With respect to type, the market is divided into Non-Water-Based Solvent Based, Hot Melt, Solvent Free, and other segments for flexible packaging adhesive. With a contribution to the Flexible packaging adhesive Market revenue of around 47.6%, the solvent-based sector retained the lion's share in 2021. This is due to the fact that flexible packaging is growing at an astounding rate, driven by a shift in consumer preferences toward more aesthetically pleasing products, usability, sustainability, and ecologically sensitive principles. Additionally, solvent-based two-component polyurethane adhesives are frequently used in flexible packaging. For usage with dry lamination, they were designed.
By Application
Depending on the application segmentation, the Flexible Packaging Adhesive Market can be considered for Food Packaging, Medical Packaging, Cosmetics, and Others.
Regional Insights
In 2021, the Asia Pacific Flexible Packaging Adhesive Market touched USD 4,054 Million, while attaining a 5.7% CAGR. This is related to the growing number of suppliers and manufacturers in the Asia-Pacific area.
In 2020, the total retail sales revenue of consumer goods was CNY 39,198.07 billion (or USD 5532.31 billion), and it increased to CNY 44,082.34 billion (or USD 6221.66 billion) in 2021, according to the National Bureau of Statistics of China. This increase in retail sales revenue led to an increase in the consumption of adhesives used in consumer goods packaging and shipping.
One of the biggest food businesses in the world is located in China. The expansion of personalized packaging in the food sector, including microwave, snack, and frozen meals, as well as rising exports, are predicted to contribute to the nation's steady growth throughout the projection period. Future predictions call for a rise in the use of packaging adhesives.
In addition, one of the main consumers of packaging adhesives in India is the food industry. Pharmaceuticals, personal care goods, consumer electronics, etc. are a few notable end-user industries using packaging adhesives. There is a tremendous opportunity for market expansion due to the rising demand from these end-user groups.
Check Discount:
https://www.marketresearchfuture.com/check-discount/11493
Discover more research Reports on Packaging & Transport Industry, by Market Research Future:
Soft Drinks Packaging Market Research Report By Material (Glass, Plastic, Metal, Paperboard), By Packaging type (Box, Bottle, Cartons, Cans), By Application (Carbonated Soft Drinks, Functional Drinks, Juices, And Others) and Region — Global Forecast Till 2030
Variable Data Printing Labels Market Information Report by Type (Release Liner, and Linerless Labels), by Composition (Facestock, and Topcoat), by Application (Food & Beverage, Pharmaceuticals, Personal Care, Consumer Goods, and others) and Region - Global Forecast To 2030
Paper & Paperboard Packaging Market by Type (Corrugated Boxes, Boxboard, Paper bags), by Grade (Folding boxboard, Solid bleached sulfate, White line chipboard, Coated Unbleached Kraft board and others), by Application, and Region – Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Follow Us: LinkedIn | Twitter
