Packaging Adhesives Market Analysis

Global Packaging Adhesives Market Overview

Packaging Adhesives Market Size was valued at USD 14.9 Billion in 2022. The Packaging Adhesives industry is projected to grow from USD 15.4 Billion in 2023 to USD 20.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.50% during the forecast period (2023 - 2032). The rise in the packaged food and beverage sector and the rising consumer awareness of food safety are significant market drivers anticipated to fuel the growth of the packaging adhesives market in the projected future.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Packaging Adhesives Market Trends

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  Advancements in adhesive technologies is driving the market growth

  
  

The packaging adhesives market has grown significantly as a result of improvements in adhesive technology. Researchers and manufacturers have worked tirelessly over the years to create new and superior adhesive compositions, which has provided numerous advantages for a variety of industries. These innovations have transformed the market, changing the course of its expansion in a number of ways.

Traditional adhesive compositions frequently have restrictions on their ability to adhere to particular substrates or in particular environments. But as new adhesive technologies have emerged, formulas have been improved to offer stronger and more dependable adhesion even on difficult surfaces. This has increased the number of sectors and applications that packaging adhesives can be utilized in, broadening their application breadth.

The advent of adhesive solutions with increased flexibility and adaptability has revolutionized the packaging sector. Due to its advantages of being inexpensive, lightweight, and space-saving, flexible packaging is becoming more and more common. In order to produce flexible packaging structures, such as pouches, sachets, and wraps that can fit a range of product shapes and sizes, it is essential to use advanced adhesive technologies. These flexible packaging options are in high demand as customer preferences continue to shift toward convenience and simplicity of use, which is boosting market growth.

In recent years, attention has been focused on the trend toward ecologically friendly and sustainable solutions. Due to this demand, adhesive producers have created environmentally friendly glue technologies. Due to their lower environmental effect and compliance with strict standards, water-based and solvent-free adhesive formulations have gained popularity. These environmentally friendly adhesive choices serve sectors that want to lessen their carbon footprint and advance a circular economy. The availability of eco-friendly adhesive technology has driven industry growth and created new business prospects as sustainability continues to be a factor in packaging decisions.

The effectiveness and cost-effectiveness of packaging procedures have increased as a result of advancements in adhesive technology. For instance, shorter production times and lower energy use have been achieved with hot-melt adhesives that cure more quickly. Packaging adhesives become more appealing from an economic perspective as a result of this increased efficiency because it allows producers to save money. These adhesive solutions have become a crucial component of firms' strategies as they look for ways to streamline their operations and lower manufacturing costs, supporting the expansion of the packaging adhesives market.

The various demands of many sectors have been met by the ongoing development of specialized adhesive solutions. For instance, sterility, chemical resistance, and electrical insulation are only a few of the special packaging requirements for the healthcare and electronics industries. Adhesive technologies have been modified to satisfy these particular requirements, promoting industry adoption and fostering market expansion. The market is now more competitive and appealing because to adhesive producers' capacity for innovation and customization of solutions for particular applications. Thus, driving the Packaging Adhesives market revenue.

Packaging Adhesives Market Segment Insights

Packaging Adhesives Technology Insights

The Packaging Adhesives Market segmentation, based on technology, includes water-based, solvent-based and hot-melt. The water-based segment dominated the market in 2022. Water-based adhesives provide increased user and worker safety. They offer a safer working environment during application since they are less hazardous and flammable than solvent-based adhesives. Water-based adhesives are also perfect for use in hospitals, schools, and residential buildings because they don't produce any unpleasant fumes or aromas after application.

Figure 1: Packaging Adhesives Market, by Technology, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Packaging Adhesives Application Insights

The Packaging Adhesives Market segmentation, based on application, includes flexible packaging, folding boxes and cartons, sealing, labels and tapes and other applications. The folding boxes and cartons category generated the most income in 2022. Folding box and carton demand is closely related to consumer goods consumption. The demand for a wide range of consumer goods, such as food, beverages, cosmetics, and household products, likewise rises as the world's population, urbanization, and disposable income all rise. These products are protected, branded, and shelf-appealing through the use of folding boxes and cartons as primary and secondary packaging.

Packaging Adhesives Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Packaging Adhesives Market dominated this market in 2022 (45.80%). The continuous innovation and use of cutting-edge packaging technology are hallmarks of North America. The packaging business in this area is looking for high-performance adhesives that can support specialty applications including automotive, electronics, and temperature-sensitive goods. Further, the U.S. Packaging Adhesives market held the largest market share, and the Canada Packaging Adhesives market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: PACKAGING ADHESIVES MARKET SHARE BY REGION 2022 (USD Billion)

 Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Packaging Adhesives market accounts for the second-largest market share. The circular economy and sustainability have been actively promoted in Europe. Eco-friendly packaging options are highly valued, which fuels the demand for packaging adhesives that are recyclable, biodegradable, and emit little volatile organic compounds (VOCs). Further, the German Packaging Adhesives market held the largest market share, and the UK Packaging Adhesives market was the fastest growing market in the European region.

The Asia-Pacific Packaging Adhesives Market is expected to grow at the fastest CAGR from 2023 to 2032. Significant economic growth is being experienced in the Asia Pacific region, which is causing the consumer market to rise. This development drives up demand for packaging adhesives in a number of sectors, including electronics, food & beverage, and personal care. Moreover, China’s Packaging Adhesives market held the largest market share, and the Indian Packaging Adhesives market was the fastest growing market in the Asia-Pacific region.

Packaging Adhesives Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Packaging Adhesives market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Packaging Adhesives industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Packaging Adhesives industry to benefit clients and increase the market sector. In recent years, the Packaging Adhesives industry has offered some of the most significant advantages to medicine. Major players in the Packaging Adhesives market, including 3M, Arkema Group (Bostik), AVERY DENNISON CORPORATION, Ashland, Dow, Henkel AG & Co. KGaA, H.B. Fuller Company, Jowat SE, Paramelt RMC B.V., Wacker Chemie AG and others, are attempting to increase market demand by investing in research and development operations.

Manufacturer and distributor of industrial goods and services is 3M Co. The company's product line also includes advanced materials, display materials and systems, stationery and office supplies, home care, home renovation, roofing granules, closure and masking systems, and other items. Additionally, 3M provides a range of services, including medical, dental, consumer health, food safety, and health information systems. Customers from a variety of industries, including automotive, electronics, health care, safety, energy, and consumer, are served by it. Asia Pacific, Europe, the Middle East, Africa, and the Americas are all regions where the corporation has manufacturing and converting operations. The US city of St. Paul, Minnesota, is home to 3M.

Labeling and packaging supplies are provided by Avery Dennison Corp (Avery Dennison). It creates tags, labels, tickets, and other conversion goods in addition to pressure-sensitive materials. Additionally, Avery Dennison produces and markets fasteners, tickets, tags, RFID inlays and tags, imprinting tools, and related services. The business sells goods under the names of Avery Dennison, Yongle, Fasson, Monarch, Freshmarx, JAC, and Mactac, among other brands. Retail, construction, footwear and apparel, logistics, e-commerce, pharmaceuticals, food and grocery, the automotive industry, and the healthcare sector are just a few of the industries it supports. The business has operations in Asia Pacific, Europe, South America, and North America. The US state of California is home to Avery Dennison's corporate headquarters.

Key Companies in the Packaging Adhesives market include

• 3M


• Arkema Group (Bostik)


• AVERY DENNISON CORPORATION


• Ashland


• Dow


• Henkel AG & Co. KGaA


• B. Fuller Company


• Jowat SE


• Paramelt RMC B.V.


• Wacker Chemie AG

Packaging Adhesives Industry Developments

March 2022: H.B. Fuller Company has joined the 4evergreen alliance, a cross-industry project to enhance the circularity of fiber-based packaging, according to a Confederation of European Paper Industries (Cepi) announcement.

January 2021: Subject to post-closing adjustments, Avery Dennison paid USD 87.6 million to buy the operations of Ohio-based ACPO Ltd. For the label and flexible packaging markets, ACPO makes pressure-sensitive overlaminate products with about 170 people.

Packaging Adhesives Market Segmentation

Packaging Adhesives Technology Outlook

• Water-based


• Solvent-based


• Hot-melt

Packaging Adhesives Application Outlook

• Flexible Packaging


• Folding Boxes and Cartons


• Sealing


• Labels and Tapes


• Other Applications

Packaging Adhesives Regional Outlook

• North America
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America