Adhesives are essential components that are used in the paper and packaging industries. Rigid packaging, flexible packaging, and other solutions are gaining traction in these industries. At present, the packaging industry is growing at a noticeable rate owing to rising requirements for appealing design along with consumer inclination towards innovative and sustainable packaging solutions.
Companies that are involved in manufacturing packaging adhesives are inclining towards the production of sustainable products with durability. Solvent-based, water-based, and hot-melt adhesives are key segments of packaging adhesives. Noteworthy growth of the e-Commerce sector is propelling the requirement for effective solutions, which will boost the demand for packaging adhesives over the coming years.
- UPM Specialty Papers has provided data, according to which, the U.S. e-Commerce industry represented around 16% of total spending in the retail sector in 2020.
Effective packaging adhesives ensure superior viscosity and durability, shorter setting time, and provide visuals to the end product. In recent years, there has been a significant increase in the requirement for packaging adhesives that are water-based due to their low impacts on the environment. These features of packaging adhesives are estimated to lead to novel expansion opportunities for industry players during the forecasted period.
In recent years, numerous industries such as personal care & cosmetics and food & beverages have been undergoing noticeable growth. These industries are predicted to contribute to expansion opportunities for packaging adhesive manufacturers over the coming years.
- According to Shiseido, the sales value of cosmetic products was US$ 1.9 million while, showing an increase of 21%.
Growing use of packaging adhesives for multiple applications--for instance, the packaging of corrugated boxes, paper bags, cartons, and boxes--are anticipated to provide ample opportunities for market players in the years ahead.
Key Takeaways from Market Study
- The global packaging adhesives market has been projected to reach a value of US$ 26.5 billion by the end of 2033.
- The Canadian market is estimated to expand at a high CAGR of 6.1% through 2033.
- The present sales value of packaging adhesives is US$ 12.8 billion.
- The market is forecasted to expand at an impressive CAGR of 7.5% from 2023 to 2033.
- The market in Germany is expected to progress at a CAGR of 5.6% through 2033.
“Noticeable growth of e-Commerce companies is stimulating the requirement for effective packaging solutions, which is expected to propel the demand for various packaging adhesives,” says a Fact.MR analyst.
Winning Strategy
Mergers & acquisitions are adopted by leading industry players to generate leads in the global market.
For instance,
- Arkema, in February 2022 announced the acquisition of the performance adhesives business of Ashland Inc. Ashland offers pressure-sensitive adhesives for protecting and packaging purposes. The company also provides a wide variety of adhesives for flexible packaging.
Some of the key players in the packaging adhesives market are Wacker Chemie, Toyochem Co., Ltd., Jowat Corp, Huntsman Corporation, Paramelt, Hitachi Chemical Company Ltd., Dymax, and Avery Dennison.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global packaging adhesives market for the period 2023–2033.
The study divulges essential insights into the market on the basis of technology (water-based, solvent-based, hot-melt, others) and application (corrugated packaging, case & carton, labeling, flexible packaging, folding cartons, specialty packaging, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
These insights are based on a report on Packaging Adhesives Market by Fact.MR.