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The Flexible Packaging Adhesive industry is subject to a combination of factors that affect supply, demand, and overall competitiveness, resulting in its market dynamics. The packaging industry highly depends on flexible packing glue as it secures different types of mild items together properly without any problem. It also helps bond different materials like plastics or metals, etc., quite effectively; therefore, this aspect plays an important role here, too, besides food & beverage and healthcare sectors as well as consumer goods industries, among others, considerably driving up demand for such solutions throughout different sectors globally. The preference for using flexible packages over rigid ones has been another major factor that has had a substantial influence on this market. The characteristics associated with flexible packaging include cost-effectiveness, lightweight, and appearance. Thus, the growing number of manufacturers switching to flexible packages has led to a corresponding rise in demand for adhesives that are compatible with such packages. This trend will persist as consumer attitudes change and brand owners search for solutions that safeguard products and promote sustainability.
Adhesive technologies are another integral part of the market dynamics that keep changing over time. Manufacturers continue to spend heavily on research to produce stronger bonding adhesive materials, which are more flexible and compatible with a range of substrates. Focusing on innovation helps firms remain competitive in the rapidly changing world. The Flexible Packaging Adhesive market is characterized by both established players and new players who are competing for their share of the industry's revenues. As such, these companies may embark upon various strategic initiatives, including M&A, partnerships, or product line extensions, which aim at enhancing their competitiveness levels. They enhance wider product range coverage resulting from this approach. To respond better to customer's needs, however, comprehensive collaborations between adhesive manufacturers and packaging companies must be formed in the future.
Market dynamics also depend on regulatory standards and environmental policies. Governments globally impose increasingly tough regulations to drive sustainable practices within the packaging industry. These rules have to be followed by adhesive manufacturers, leading to the innovation of eco-friendly adhesives. In addition, global supply chain dynamics largely influence the Flexible Packaging Adhesive market. Varying prices for raw materials, geopolitical factors, and transportation expenses are key to the cost of production, hence influencing the pricing of products and the competitive environment in the marketplace. Manufacturers face difficulties in sourcing key raw materials like resins and solvents at times, thus necessitating strategic adjustments in their business operations.
Flexible packaging adhesive Market Highlights:
Global Flexible Packaging Adhesive Market Overview
Flexible packaging adhesive Market Size was valued at USD 12.58 Billion in 2023. The Flexible packaging adhesive market is projected to grow from USD 13.18 Billion in 2024 to USD 20.23 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period (2024 - 2032). The growing demand for flexible packaging adhesive in medical, food and cosmetic packaging market are driving market expansion.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Flexible packaging adhesive Market Trends
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INCREASING DEMAND FROM PACKAGING INDUSTRY
A wide variety of material types are used in adhesives packaging, including plastic, paperboard, wood, metals, glass, and other materials. Yet, among all the alternatives offered in the packaging sector, adhesives packaging has recently emerged as the fastest-emerging trend. It is extensively used by the food and beverage, cosmetics, and healthcare sectors, and as a result, there is a growing need for packaging solutions, which drives the expansion of the worldwide packaging market. Bottles, vials, ampoules, and jars, which are used to package a variety of products like cosmetics, food, and medicinal items, are frequently made from plastic and adhesives. The rising demand for packaging from a variety of end-use sectors has contributed to the flexible packaging adhesives market's overall expansion during the course of the study period. Furthermore, in the medical and healthcare sector, rapid industrialization in many countries across the globe results in increased cases of respiratory diseases & cancer, which require high-quality drugs and medical technology. As per Jones Packaging Inc. (Canada), Canada, one of the fastest-growing pharmaceutical markets, has 81% of adults (around 65 years and above) who take one or more prescribed drugs daily. Around 29% of these adults take five or more medicines regularly. Additionally, an increasing number of Canadians are diagnosed with chronic diseases and are expected to reach a staggering 9.8 million people by 2036. Such conditions result in consumers spending a high amount of money on medicines.
Figure 1: Medical Device Packaging market
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The generic injectable medicine market is anticipated to grow as a result of increased pharmaceutical industry demand and the use of active ingredients. Chemistry and the ion-exchange process are used to create the improved goods, which produce solutions that are resistant to damage and have a lower coefficient of friction on the surface.
In the upcoming years, this is likely to fuel demand for packaging products across a range of end-use industries. As a result, the growing demand for flexible packaging adhesives in the end use industries is likely to fuel the expansion of the Flexible packaging adhesive market revenue.
Flexible packaging adhesive Market Segment Insights
Flexible packaging adhesive Type Insights
The Flexible packaging adhesive Market segmentation, based on types, includes Non- Water-Based Solvent Based, Hot Melt, Solvent Free, Other. The solvent-based segment held the majority share in 2021 contributing to around ~47.6% with respect to the Flexible packaging adhesive Market revenue. This is because Flexible packaging is expanding at a remarkable rate, driven by a movement in customer tastes towards more attractive packages, usability, sustainability, and environmentally conscious principles. Also, the Flexible packaging often uses two-component polyurethane adhesives that are solvent-based. They have been created for use with dry lamination.
Flexible packaging adhesive Application Insights
The Flexible packaging adhesive Market segmentation, based on application, includes Food Packaging, Medical Packaging, Cosmetics, Others. The food packaging segment dominated the market in 2021 and while the medical packaging segment is projected to be the faster-growing segment during the forecast period, 2022-2030. This is due to the growing medical and food packaging industry which will impact market growth.
Figure 2: Flexible packaging adhesive Market, by Type, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Flexible packaging adhesive Regional Insights
By Region, the Flexible packaging adhesive Market industry study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific Flexible packaging adhesive Market accounted for USD 4,054 Million in 2021 and is expected to exhibit a 5.7% CAGR during the study period. This is attributed to rising number of manufacturers and suppliers in Asia pacific region across the region.
Further, the major countries studied are the U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: FLEXIBLE PACKAGING ADHESIVE MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America Flexible packaging adhesive Market accounts for the second-largest market share due to the development of new and varied packaging styles, as well as packaging innovation, is a major factor in the flexible adhesives packaging segment's growth. Furthermore, the US Flexible packaging adhesive Market retained the greatest market share. Currently, various businesses rely on creative packaging adhesives and advertising to attract customers. A consumer opts for a product that is lightweight, compact, convenient, and environmentally friendly. Furthermore, businesses are increasingly looking for more flexible adhesives solution options to market their products, which is driving the segment, and the Mexico Flexible packaging adhesive Market will exhibit significant expansion in the North American region.
The Europe Flexible packaging adhesive Market is expected to grow at a significant CAGR from 2022 to 2030. This is owing to the region is the home to several luxurious brands, which supports the growth of the market for flexible adhesives packaging. Furthermore, the growing demand for sustainable adhesives packaging products in the food & beverages, pharmaceutical, and personal care industry leads to the escalation in demand for eco-friendly storage and packaging solutions. The Middle East and Africa Flexible packaging adhesive Market is predicted to expand, owing to increasing demand for medical packaging products. Furthermore, The per capita disposable income among individuals in the region has been increasing at a steady rate in recent years it will propel market growth in GCC Countries Flexible packaging adhesive Market and South African Flexible packaging adhesive Market, as well as an increased focus on flexible adhesives packaging production, is projected to encourage the expansion of the Flexible packaging adhesive Industry in the area.
Due to the significant demand from nations like China, Japan, India, and others, Asia-Pacific now holds the largest market share for packaging adhesives and is driving growth in the Asia-Pacific Flexible packaging adhesive Market. China Flexible packaging adhesive Market and India Flexible packaging adhesive Market are the leading industry pockets in the area with the availability of raw material sources. Also, due to its burgeoning e-commerce giants and rising per capita wealth, China leads the world in the consumption of packaging adhesives. In 2020, the total retail sales revenue of consumer goods was CNY 39,198.07 billion (or USD 5532.31 billion), and it increased to CNY 44,082.34 billion (or USD 6221.66 billion) in 2021, according to the National Bureau of Statistics of China. This increase in retail sales revenue led to an increase in the consumption of adhesives used in consumer goods packaging and shipping.
Flexible packaging adhesive Key Market Players & Competitive Insights
Major market players are focusing on to the digitization of technologies and e-commerce portals, is likely to influence the demand for flexible packaging solutions positively. Retailers engage in selling activities with the end users to increase their revenue generation. Manufacturers are also involved in retail through direct-to-customer sales through e-retailing websites. The availability of retail space and the wider availability of products are some of the factors driving the retail sector across the Asia-Pacific region.
One of the primary business strategies adopted by manufacturers in the global Flexible packaging adhesive Industry to benefit clients and expand the Flexible packaging adhesive Market sector is to manufacture locally to reduce operating costs.
H B Fuller designs and produces Flexible packaging adhesive. H.B. Fuller Company is a major American adhesives manufacturing company supplying industrial adhesives worldwide. H.B. Fuller announces the latest in the series of Flextra® Fast flexible packaging adhesives by introducing a rapid food compliant, two-part universal performance solventless adhesive. Flextra® Fast SF8400/XR1700 is already available in North America.
Henkel adhesives technology is a global players in innovative adhesives, sealants, and functional coatings for the packaging sector. The company is continuously innovating its solutions. For instance, in 2021, Two Henkel adhesives from the Loctite Liofol RE range for use in flexible packaging have been recognized by RecyClass as fully compatible with existing recycling processes for polyethylene (PE). The development of these adhesives ensures that flexible packaging can be recycled into higher quality plastics, and it enables better second life options in various applications. This is a key milestone towards greater sustainability and the creation of a circular economy.
Key Companies in the Flexible packaging adhesive Market include
- B. Fuller
- Henkel
- Bostik
- Lubrizol
- BASF
- DSM
- Hunstman
- 3M
- Eastman
- Evonik
- Ashland
- Wacker Chemicals
- Dow Chemical Company
- Morchem
- Inktech
- Mitsui Chemicals
- Sika
- ExxonMobil Chemical
Flexible packaging adhesive Industry Developments
2021 Bostik, the Adhesive Solutions segment of Arkema, signed today a purchase contract with Nordmeccanica, one of the world's leading lamination machines suppliers, for the furniture of a cutting-edge commercial laminator, to bolster its global R&D efforts on flexible lamination and further diversify its offering of sustainable smart adhesive solutions.
Flexible packaging adhesive Market Segmentation
Flexible packaging adhesive Type Outlook
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Water-Based
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Solvent Based
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Hot Melt
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Solvent Free
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Other
Flexible packaging adhesive Application Outlook
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Food Packaging
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Medical Packaging
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Cosmetics
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Other
Flexible packaging adhesive Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- GCC
- Rest of the Middle East & Africa
- South America
- Brazil
- Argentina
- Mexico
- Rest of South America
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