Published: January 2020 | Report Code: CM11832 | Available Format: PDF | Pages: 400
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.
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.
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.
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.
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.
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.
The packaging adhesives market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Formulation
Based on Resin Type
Based on Packaging Type
Key Questions Answered in the Report /Answered in the Report
Get a bespoke market intelligence solution
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws