Packaging Adhesives Market is Anticipated to Reach USD 20.3 Billion by 2032, at a rate of 3.50%

As per an Extensive Research Report by Market Research Future (MRFR), Packaging Adhesives Market Information By Technology, By Application and Region – Forecast till 2032” “The packaging adhesives market can anticipate expanding from USD 15.4 billion in 2023 to USD 20.3 billion by 2032, at a rate of 3.50 percent over the study period (2023-2032).

Adhesives used in packaging are substances that connect two or more surfaces. Typically, they are created using polymeric chemicals that can be found both naturally and chemically. Packaging adhesives fall into two categories: solvent- and water-based. Third-party packaging adhesives, on the other hand, must be heated before use. They are commonly known as hot melt adhesives and are thermoplastic-based. Because adhesives play such a significant part in the packaging business, about 70% of all adhesives manufactured globally are consumed there.

The global market for packaging adhesives benefited from the COVID-19 epidemic. To maintain their social distance, customers began turning to online shopping even for needs when the World Health Organization (WHO) standards were released. Since the things purchased online must be packaged before being shipped to their destinations, there is a direct connection between e-commerce and the packaging sector. As a result, the market’s need for packaging adhesives increased as e-commerce demand expanded, which in turn drove demand for the packaging sector.

Major participants have had to make large systemic adjustments in response to the epidemic, like implementing RFID tags and near-field communications (NFC), in order to survive.

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Market Competitive Landscape:

• 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
  

Market Drivers:

The explosive growth of the e-commerce sector is one of the key factors propelling the packaging adhesives market. The rise of the packaging sector has been spurred by consumers’ shifting priorities towards sustainability and convenience. Because the packaging business and the packaging adhesives market are intrinsically linked, the expansion of the packaging sector drives up demand for packaging adhesives. These adhesives are frequently used for corrugated covering, folding carton envelopes, and carton closure. Major businesses carefully monitor the packing of their goods to prevent damage during transportation. Thus, the packing industry will gain from the manufacturing sector’s significant growth.

Consumer preferences are evolving towards more appealing packages, simplicity, sustainability, and environmentally conscious principles, which are elevating the rapid growth of flexible packaging. There are numerous methods, viscosities, and solids concentrations of laminating adhesives for flexible packaging. Laminating adhesives can be divided into four different fundamental groups. These include hot melt, solvent-based, reactive 100% solid (solventless), and waterborne liquids.

Typically, two-component polyurethane laminating adhesives with solvent bases are utilized in flexible packaging. These are intended to be applied during the dry lamination procedure. The largest application category for VAE adhesives is flexible packaging. The flexible, moisture-resistant, and improved substrate adherence of laminating applications make them a significant subcategory.

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Flexible packaging is seeing extremely high demand worldwide as a result of the rising need for food caused by the expanding populations in nations like the United States, China, and India. By the end of 2020, the US flexible packaging market is expected to generate annual sales of about USD 35.6 billion, according to the Flexible Packaging Association (FPA). The flexible packaging sector encompasses, among other things, retail shopping bags, and packaging for institutional and retail food and non-food, medical, and pharmaceutical products.  

Market Restraints:

With regard to adhesives’ effects on the environment, the market is constrained by strict laws and frequently occurring environmental body actions. However, the arrival of water-based adhesives in 2017, which are more affordable, effective, and environmentally friendly, is anticipated to drive the market for packaging adhesives forward.

Market Segmentation

Technology-based segments of the packaging adhesives market include hot-melt, solvent-based, and water-based adhesives.    

Flexible packaging, folding boxes and cartons, sealing, labels, and tapes are all included in the application-based segmentation of the packaging adhesives market.

Regional Insights

North America commanded the largest share (45.80%) of the global market in 2022. North America is known for its constant innovation and usage of cutting-edge packaging technology. High-performance adhesives that can support specialized applications, such as automotive, electronics, and temperature-sensitive items, are sought after by the packaging industry in this region.

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