PUBLISHER: The Business Research Company | PRODUCT CODE: 1458707
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458707
Packaging adhesive is a crucial component in the packaging industry, used to bond, seal, or laminate materials such as paper, cardboard, and plastic. These adhesives ensure the integrity and stability of packaging structures, providing secure and durable packaging solutions.
Packaging adhesives come in various types, including water-based, solvent-based, and hot melt. Water-based adhesives are environmentally friendly, using water as a carrier or solvent for sealing cartons and corrugated boxes. They employ different resins such as polyvinyl acetate (PVA), acrylics, and polyurethane, suitable for applications such as flexible packaging, folding boxes, cartons, sealing, labels, and tapes.
The packaging adhesives market research report is one of a series of new reports from The Business Research Company that provides packaging adhesives market statistics, including packaging adhesives industry global market size, regional shares, competitors with a packaging adhesives market share, detailed packaging adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the packaging adhesives industry. This packaging adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The packaging adhesives market size hasgrown strongly in recent years. It will grow from $15.62 billion in 2023 to $16.53 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to several key factors. Firstly, the rise of e-commerce has driven the demand for packaging adhesives, as more products are being shipped directly to consumers. Secondly, there is a growing emphasis on sustainable and eco-friendly adhesives, driven by consumer and regulatory pressures to reduce environmental impact. Thirdly, the rising safety challenges in food and beverage packaging have led to increased demand for adhesives that meet stringent safety standards. Additionally, consumer demand for sustainable packaging materials and the overall sustainability trend have further fueled growth in the market. Lastly, regulations and compliance requirements have also played a role, with businesses needing to adhere to strict regulations regarding packaging materials and adhesives.
The packaging adhesives market size is expected to see steady growth in the next few years. It will grow to $19.86 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period is driven by the rising demand for packaging in the food industry, a growing focus on sustainability requirements, technological advancements in the packaging industry, increasing demand for flexible, rigid, and semi-rigid packaging, and a growing demand for eco-friendly adhesives. Major trends in the forecast period include the impact of e-commerce, technological advancements, sustainability practices, geographical market dominance, and regulatory impacts.
The expansion of the e-commerce industry is anticipated to drive the packaging adhesives market's growth in the future. E-commerce, characterized by the online trading of goods and services, relies on packaging adhesives to ensure secure and effective packaging solutions for order fulfillment. For example, the International Trade Administration reported that in November 2023, the UK's e-commerce revenues are projected to grow by an annual average of 12.6% by 2025. As of January 2021, consumer e-commerce contributed to 36.3% of the UK's total retail industry and is estimated to reach $285.60 billion by 2025. Hence, the e-commerce sector's expansion is a key driver for the packaging adhesives market's growth.
Major companies in the packaging adhesives market are concentrating on innovating with sustainable flexible packaging adhesives to stay competitive. These adhesives are eco-friendly and tailored for flexible packaging, crucial for e-commerce. For example, in May 2022, Henkel launched the RE range, including Loctite Liofol LA 7818 RE/6231 RE and Loctite Liofol LA 7102 RE/6902 RE, solvent-free adhesives for flexible packaging, promoting design-phase sustainability. These adhesives are recognized by RecyClass for their recyclability, undergoing stringent testing to meet recycling standards, ensuring compatibility with the package recycling process.
In July 2022, Arkema SA, a French chemical manufacturing company, acquired Permoseal for $48.5 million, aiming to bolster its presence in the rapidly expanding construction and DIY markets across South Africa and Sub-Saharan Africa. Permoseal (Pty) Ltd., based in South Africa, specializes in adhesive solutions for DIY projects, packaging, and construction.
Major companies operating in the packaging adhesives market report are BASF SE, The Dow Checimal Company, 3M Company, Henkel AG & Company KGaA, Illinois Tool Works Inc., DowDuPont Inc., Arkema S.A., AkzoNobel N.V., Eastman Chemical Company, Sika AG, Avery Dennison Corporation, Wacker Chemie AG, Huntsman Corporation, H.B. Fuller Company, Ashland Inc., RPM International Inc., Sipchem, Mapei S.p.A., Paramelt B.V., Scott Bader Company Ltd., Beardow Adams Group (Acquired by H.B. Fuller), Dymax Corporation, Adhesives Research Inc., Super Glue Corporation, Jowat SE
North America was the largest region in the packaging adhesives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the packaging adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the packaging adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The packaging adhesives market consists of sales of thermoplastic adhesives, thermoset adhesives, vinyl acetate, and ethylene copolymers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Packaging Adhesives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on packaging adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for packaging adhesives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The packaging adhesives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.