New York, United States , July 10, 2024 (GLOBE NEWSWIRE) -- The Global Packaging Adhesives Market Size is to Grow from USD 15.79 Billion in 2023 to USD 21.56 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.16% during the projected period.
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Packaging adhesives are substances that are used to join two or more pieces of packing material together. In general, synthetic and naturally occurring polymeric compounds are used in their synthesis. Usually, they are categorized according to their adhesion mechanism, which is further split into reactive and non-reactive groups depending on whether or not they can expand through a chemical reaction. However, the third kind of packing adhesive needs to be melted before use. They are frequently based on thermoplastic and go by the name hot melt adhesives. About 70% of all adhesives produced worldwide are used in the packaging industry due to the essential role that adhesives play in this sector. Cake mixes, frozen dinners, snacks, and easy-to-eat meals constitute the majority of the packaged food and beverage products. It is expected that in response to the rising demand for these products, manufacturers will increase their manufacturing capacity. Furthermore, regulations from the government frequently impose restrictions on the use of specific chemicals in packaging adhesives, especially those that are considered hazardous or present potential risks to the environment or public health.
Browse key industry insights spread across 204 pages with 110 Market data tables and figures & charts from the report on the "Global Packaging Adhesives Market Size, Share, and COVID-19 Impact Analysis, By Technology (Water-based, Solvent-based, Hot Melt, and Others), By Resins (PVA, Acrylics, Polyurethane, and Others),By Application (Case & Carton, Corrugated Packaging, Labeling, Flexible Packaging, Folding Cartons, Specialty Packaging, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The water-based segment dominates the market with the highest market share of the packaging adhesives market during the projected timeframe.
Based on the technology, the packaging adhesives market is divided into water-based, solvent-based, hot melt, and others. Among these, the water-based segment dominates the market with the highest market share of the packaging adhesives market during the projected timeframe. Water-based adhesives are packaging adhesives that disperse adhesive components through the use of water as a solvent or carrier. In the packaging business, water-based adhesives are becoming more and more popular because of their advantages for sustainability.
The acrylics segment is predicted to account for the largest revenue share of the packaging adhesives market during the projected timeframe.
The packaging adhesives market is divided by resins into PVA, acrylics, polyurethane, and others. Among these, the acrylics segment is predicted to account for the largest revenue share of the packaging adhesives market during the projected timeframe. Acrylic adhesives offer exceptional shear and peel strength, high tensile strength, and great shock and impact resistance. These adhesives require less heat, UV, or electrical energy during manufacture because they cure at ambient temperature, which improves production efficiency.
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North America is expected to hold the largest share of the packaging adhesives market over the forecast period.
North America is expected to hold the largest share of the packaging adhesives market over the forecast period. Due to the region's growing technical advancements, usage of bio-based raw materials, and introduction of novel methodologies, there is a significant demand for water-based adhesives. Furthermore, it is projected that the low cost and simplicity of the application of water-based adhesives in a variety of methods, including roller coating, screen printing, and spraying, will contribute to an even greater rise in product utilization in the years to come. As manufacturers are seeking environmentally conscious solutions and concerns about the environment grow, sustainable adhesives are becoming increasingly relevant. Adhesives appropriate for e-commerce are in high demand as a result of the surge in online sales.
Asia Pacific is predicted to grow at the fastest pace in the packaging adhesives market during the projected timeframe. Growing urbanization and industrialization have contributed to the need for efficient packing solutions. The Asia-Pacific packaging adhesives market is evolving as a result of shifting customer tastes and the expansion of e-commerce. The need for adhesives that are flexible and secure has grown as e-commerce expanded since packaging needs to be resistant to handling and shipping difficulties. Additionally, there is a growing need for sustainable and green adhesives since sustainability is a top priority.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the packaging adhesives market Henkel AG & Company, 3M, Ashland Global Holdings Inc., Avery Dennison Corporation, Dymax Corporation, Sika AG, Wacker Chemie AG, Jowat SE, The Dow Chemical Company, HB Fuller, Bostik SA, DowDuPont Inc., Huntsman Corporation., Paramelt B.V., Hitachi Chemical Company Ltd., and others.
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Recent Developments
- In May 2023, US-based adhesive expert H.B. Fuller declared that it had acquired Beardow Adams, a UK-based adhesive manufacturer.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the packaging adhesives market based on the below-mentioned segments:
Global Packaging Adhesives Market, By Technology
- Water-Based
- Solvent-Based
- Hot Melt
- Others
Global Packaging Adhesives Market, By Resins
- PVA
- Acrylics
- Polyurethane
- Others
Global Packaging Adhesives Market, By Application
- Case & Carton
- Corrugated Packaging
- Labeling
- Flexible Packaging
- Folding Cartons
- Specialty Packaging
- Others
Global Packaging Adhesives Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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