Packaging Adhesives Market Research Report: By Formulation (Water-Based, Solvent-Based, Solid-Based), Resin Type (Acrylic, Rubber, Ethyl Vinyl Acetate, Polyurethane, Polyamide, Polyvinyl Acetate), Packaging Type (Rigid Packaging, Flexible Packaging, Tapes & Labels) – Industry Size, Share, Trends and Growth Forecast to 2030

Market Outlook

The packaging adhesives market size was $10,426.9 million in 2019, and it is expected to reach $17,137.4 million by 2030, registering a CAGR of 4.6% during 2020–2030.

The Far East region will record the fastest rise in the consumption of such materials in the coming years owing to the growth of the manufacturing sector in the region. The manufacturing sector creates a high-volume demand for flexible packaging materials. Additionally, the surging consumption of fast-moving consumer goods will facilitate the market growth in the region.

Trends & Drivers

The usage of sustainable adhesives is the most-prominent trend being observed in the packaging adhesives industry. Adhesives had specific recycling issues in the past, including a high production time. Innovations in technology have led to the development of water-based adhesives, which are lightweight and biodegradable.

Large quantities of adhesives are required in the food & beverage packaging sector due to the increasing consumer awareness on health. This has, in turn, fueled the demand for fresh products and products with a longer shelf life. Additionally, the vast urban population, busy lifestyles, and surge in travel activities will amplify the demand for healthy, packaged food in the near future.

The growth potential of the packaging adhesives market has magnified due to the easing usage of low-tack adhesives (LTAs) in reclosable applications, owing to their high-adhesion property. LTAs offer better usability for customers and a cost-effectiveness to product manufacturers for packaging purposes. Moreover, products using LTAs do not need to be precisely aligned to be reclosed, unlike zipper seals.

Segmentation Analysis

The acrylic category, within the resin type segment, accounted for the largest market share in 2019. Acrylic adhesives offer several benefits, such as high tensile strength, better shear and peel strength, and high shock and impact resistance. Moreover, these adhesives increase the production efficiency because of their ability to cure at room temperatures.

Geographical Outlook

In 2019, the Far East market for packaging adhesives generated the highest revenue due to the wide-scale consumption of these materials in the consumer goods, food & beverage, e-commerce, and personal care industries of China. The rapid growth of the e-commerce industry in Japan and China, owing to the convenience of direct product delivery at homes, has boosted the demand for such materials in this region. In the coming years, the high requirement for corrugated boxes and cartons among e-commerce companies will propel the packaging adhesives market in the Far East.

Competitive Landscape of Packaging Adhesives Market

The packaging adhesives market is partially consolidated with the top-five players holding a share of over 45%. Some of the key players include Evonik Industries, H.B. Fuller Company, Henkel AG & Co. KGaA, Dow Inc., Avery Dennison Corporation, The 3M Company, and Arkema Group.

Recent Strategic Developments of Packaging Adhesives Market Players

Several adhesives manufacturers serving the packaging sector have taken several strategic measures, such as product launches and geographical expansions, to improve their market position. For instance, in November 2019, Evonik Industries announced its plans of capacity expansion of its plant in Darmstadt, Germany, for organic dispersions and heat sealing applications. The company offers these products under the brand name DEGALAN, which majorly serves the food & beverage packaging industry.

Market Size Breakdown by Segment

The packaging adhesives market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.

Based on Formulation

• Water-Based
• Solvent-Based
• Solid-Based

Based on Resin Type

• Acrylic
• Rubber
• Ethyl Vinyl Acetate (EVA)
• Polyurethane (PU)
• Polyamide (PA)
• Polyvinyl acetate (PVA)

Based on Packaging Type

• Rigid Packaging
• Flexible Packaging
• Tapes & Labels

Geographical Outlook

• Americas
  • U.S.
  • Canada
  • Mexico
  • Brazil
• Europe
  • Germany
  • U.K.
  • France
  • Italy
• Commonwealth of Independent States (CIS)
  • Russia
  • Poland
• Gulf Cooperation Council (GCC)
  • Saudi Arabia
  • U.A.E.
  • Qatar
  • Kuwait
• Middle East
  • Turkey
  • Egypt
  • Algeria
  • Israel
• Far East
  • China
  • Japan
  • South Korea
• RoW
  • India
  • Australia

Key Questions Answered in the Report /Answered in the Report

• What is the current scenario of the global packaging adhesives market?
• What are the key strategies companies are adopting to increase their consumer base?
• What are the major factors hindering the growth of the market?
• What are the key categories within the market segments and their future potential?
• What are the major growth drivers for the market and their expected impact during the short, medium, and long terms?
• What are the opportunities for the market players?
• Which are the key regions from the investment perspective?