Packaging Adhesives Market

Packaging Adhesives Market Size (2023-2028)

packaging adhesive Market was valued at $ 11.6 billion in 2022 and is predicted to reach $ 15.16 billion in 2028, with a CAGR of 5.5%.

The global packaging adhesives market is expanding in the near future as a result there is high demand for packaging in almost every industry specifically in the food & beverages industry and pharmaceutical industries. The process of matching adhesives to end users in this highly regulated business has become vital, with applications ranging from over-the-counter medicines and nutraceuticals to blood bags and needles. Packaging has also become an important component of sales and marketing.

Packaging Adhesives Market Trends:

Due to the growing e-commerce industry, the packaging adhesives market has seen extraordinary growth in recent years. As more people buy online, the necessity for high-performing adhesives and hassle-free packaging is becoming increasingly important for retailers and manufacturers. The trend of internet purchasing, in particular, is paving the way for industrial development. The growing necessity of food-safe adhesives is another factor driving packaging adhesives forward. Most packs, such as Glass Bottles, have no adhesive contact with the food item, but most packs, such as Liner cartons, Mono cartons, Flex packs, and so on, have indirect contact. As a result, demand for environmentally friendly adhesives is rising. Starbucks, McDonald's, and Hyatt have all stated that they will no longer use plastic straws and are actively looking for alternatives.

Recent Developments in the Packaging Adhesives Market:

• In the Asia Pacific area, Bostik has introduced the HERBERTSTM 700 product range of high-performance, sustainable, flexible laminating adhesive solutions for food packaging, industrial, and medical industries. The HERBERTS LF794/H180 and LF728/H128, which are based on polyurethane, solvent-free technology, enable clients to easily meet high production demands and quality performance needs while helping the environment.

• H.B. Fuller has launched two new compostable solutions for the flexible packaging market: Flextra™ Evolution SF1000CP/XR2000CP and Flextra™ Evolution WB1200CP/XR2200CP. In terms of environmental goals and manufacturing benefits, these solutions provide a number of distinct advantages. 

Packaging Adhesives Market Drivers:

The packaging adhesives industry is being driven by customer preference for packaged foods. Many individuals are adopting ready-to-eat meals as their eating habits change. Noodles, spaghetti, soup, bread, and cereal consumption have increased. Packaged food has a longer shelf life and is more resistant to environmental changes. In addition, the demand for beverages is quickly growing, necessitating packaging. As a result, packing adhesives are in great demand. Non-alcoholic drinks are generally offered in bottles, whereas alcoholic beverages are sold in cans. According to Statista, global consumption of packaged water was surpassed 450 billion liters in 2020, while global consumption of alcoholic drinks exceeded 244 billion liters. As the need for adhesives in beverage packaging, particularly for labeling, grows, so does the demand for adhesives in beverage packaging. The growing need for flexible packaging is another factor driving the packaging adhesives market. Flexible packaging can readily alter the shape, which is why it is so popular nowadays. Bags, pouches, shrink films, tubes, sleeves, and carded packaging are all made with it. Flexible packaging adhesives for fill packing, horizontal flow packaging, laminating, and lidding have become the packaging market's smart option. Flexible packaging is becoming more popular in various sectors, which is driving up demand for packaging adhesives.

Packaging Adhesives Market Restraints:

Issues regarding product safety due to adhesives may impact the packaging adhesive market.

Opportunities in the Packaging Adhesives Market:

The packaging adhesive industry is projected to grow in the near future due to advancements in adhesive technology. Mechanical, thermal, and electrical characteristics of adhesives will develop. Smart adhesives, such as switchable kinds that may bind and deboned in response to physical or chemical stimuli, are being developed, and some are currently commercially accessible.

Challenges in the Packaging Adhesives Market:

The implementation of strict regulations by the Adhesive and Sealant Council, Inc. poses a challenge for the expansion of the packaging adhesives market.

PACKAGING ADHESIVES MARKET REPORT COVERAGE:

Market Segmentation:

Packaging Adhesives Market By Type:

• • Water-based Adhesives
  • Solvent-based Adhesives
  • Hot-melt Adhesives

On a type basis, the water-based adhesives segment is predicted to be the fastest-growing market during the foreseen period, had the largest share in 2021.

Packaging Adhesives Market By Substrate Material Type:

• Acrylics

• Polyurethane

• Polyvinyl Chloride

• Polypropylene

• Others

In terms of substrate material type, the Polyvinyl Chloride segment accounted for the largest market share and is predicted to grow at the highest CAGR over the foreseen period. 

Packaging Adhesives Market By Application:

• Flexible Packaging
• Folding Cartons
• Boxes & Cases
• Corrugated Packaging
• Specialty Packaging
• Labeling
• Others

In terms of application, the labeling segment accounted for the largest market share and is predicted to grow at the highest CAGR over the foreseen period.

Packaging Adhesives Market By End - User:

• Food & Beverages

• Cosmetics

• Healthcare

• Others

Packaging Adhesives Market Regional Analysis:

 The Packaging Adhesives Report includes the segmentation of regions:

•  North America 

•  Europe 

•  Asia Pacific 

•  Latin America 

•  Middle East & Africa 

Due to growing disposable income and changing consumer lifestyles, the Asia-Pacific region is expected to account for the biggest share of the global packaging adhesive market by value in 2021, followed by North America and Europe. This is because of the driving demand for packaged food and drinks in the area. The Asia-Pacific region is expected to expand the most over the forecasted period, owing to strong demand from nations such as China, Japan, and India. Key companies' initiatives also contribute to market expansion in the Asia Pacific area. For example, Bostik, a major worldwide adhesive specialist for industrial, construction, and consumer sectors announced in March 2019 that Kizen®, the next generation of hot melt adhesives for box and carton sealing, will be available throughout Asia. This, in turn, is expected to propel the packaging adhesive industry forward. The packaging adhesive market in North America is growing and developing; between 2021 and 2026, the US and Canadian markets are expected to witness the fastest growth rates. Manufacturers are concentrating their efforts on creating low-cost packaging adhesives. The growing importance of the e-commerce sector, as well as the rising need for paper and cardboard packaging, such as folding, corrugated or cardboard, protective envelopes, and others, are driving the market forward. Furthermore, in emerging nations such as India, China, and Indonesia, increased disposable income boosts consumers' purchasing power. As a result, consumers are more inclined to rely on processed, pre-cooked, and packaged meals. As a result, the packaging adhesives industry has been positively impacted.

Impact of COVID-19 on the Packaging Adhesives Market:

The COVID–19 pandemic highlighted the significance of business to the health and safety of society. Demand is increased by all products, including medications, food, medical devices, and a range of other goods such as personal protective equipment (PPE), ventilators, and medical equipment. Packaging is essential in the distribution of these items in this environment. As a result, packaging adhesives are in high demand. The distribution supply chain and warehousing have been an important element of the healthcare sector with the advent of vaccines. The healthcare business has made proper packaging for transport and storage a top concern. The need for packaging adhesive has skyrocketed for vaccination cartons and labels. In addition, internet purchasing expanded rapidly in this covid - of 19 scenario to minimize cross-contamination. According to Statista, worldwide retail e-commerce sales increased by more than 25% in the year of the epidemic. Packaging adhesive market growth is also influenced by consumer demand for safe packaged foods. Nonetheless, in many countries, the second wave of covid – 19 may indicate sluggish market development.

Packaging Adhesive Market Key Players:

The major players covered in the packaging adhesive market report are 

• 3M Company

• Arkema

• Ashland Global

• Avery Dennison Corporation

• Dymax Corporation

• H.B. Fuller

• Henkel AG & Co.

• Jowat SE 

• The DOW Chemical Company

• Paramelt RMC B.V.