Global Packaging Adhesives Market is expected to reach USD 10.11 billion by 2025. Packaging Adhesives (PA) are the adhesives used for binding together two or more surfaces by limiting direct contact of packaging materials to harsh atmosphere that pledges degradation. These adhesives are exclusively used in industries like wood, food & beverage, automotive, and construction. The packaging adhesives industry is estimated to grow at a significant CAGR of 4.5% over the forecast period as the scope and its applications are rising enormously across the globe.
Rising durability and versatility of rigid adhesive products, presence of innovative flexible packaging adhesive products, and can handle an exclusive range of end-use temperatures are documented as major factors of packaging adhesives market that are estimated to enhance the growth in the years to come. However, packaging adhesives industry is segmented based on type, technology, application, and region.
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Polyvinylidene Chloride, Acrylics, polyurethane, and other types could be explored in packaging adhesives in the forecast period. The enhanced technology used may include hot-melt based, water-based, solvent-based, and others that could be explored in packaging adhesives in the forecast period. The hot-melt based technology is exclusively preferred and the sector accounted for substantial share of packaging adhesives market. It is used in sealing, cartooning, and case erecting applications. Hot melts include metallocene hot melts and EVA hot melts.
The market may be categorized based on applications like specialty packaging, case & carton, folding cartons, corrugated packaging, labeling, flexible packaging, and others that could be explored in forecast period. The flexible application accounted for the substantial share of packaging adhesives industry and is estimated to remain dominant in the coming years. This may be because of several regulations by FDA and upgradation of technologies in various sectors like research and development and pharma industries. Moreover, high demand for packed food as well as food & beverage are the factors ruling packaging adhesives. In addition, corrugated packaging sector is estimated to grow at fastest pace in coming years.
Globally, North America accounted for the substantial share of packaging adhesives market and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be rising use of innovative techniques for the production of eco-friendly adhesives and high concentration on inventions gained from Research and Development (R&D). The United States is a major consumer of packaging adhesives in the region. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth.
Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the significant CAGR in the foremost period. The aspects that may be ascribed to the growth comprise rising number of manufacturers in the region and growing supply chain of raw materials outside the region as well as within the region. The developing countries like India and China are the major consumers of packaging adhesives in the region.
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The key players of packaging adhesives industry are Dymax, Henkel, Ashland, HB Fuller, Wacker Chemie, Bostik, Sika, Paramelt, Jowat Corp, 3M Company, and Avery Dennison. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
Technology Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
• Hot Melt
Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
• Flexible Packaging
• Folding Carton
• Case & Carton
Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Middle East & Africa
• Central & South America
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