The Packaging Adhesives Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Packaging Adhesives Global Market Report 2024, 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 can be attributed to Rising demand for packaging in the food industry, Growing focus on sustainability requirements, technological advancements in the packaging industry, Increasing demand for flexible, rigid, and semi-rigid packaging, and growing demand for eco-friendly adhesives. Major trends in the forecast period include e-commerce impact, technological advancements, sustainability, geographical dominance, and regulatory impact.
The growth of the e-commerce industry is expected to propel the growth of the packaging adhesives market going forward. E-commerce, or electronic commerce, refers to the trading of goods and services on the Internet. Packaging adhesive is used in the e-commerce sector to provide reliable and efficient packaging solutions for order fulfillment. For instance, in November 2023, according to the International Trade Administration, a US-based government agency, eCommerce revenues in the UK are expected to have an annual average growth rate of 12.6% by 2025, and as of January 2021, consumer eCommerce accounted for 36.3% of the UK's overall retail industry, and expected to reach $285.60 billion by 2025. Therefore, the growth of the e-commerce industry is driving the growth of the packaging adhesives market.
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The packaging adhesives market covered in this report is segmented –
1) By Technology: Water-Based, Solvent-Based, Hot Melt
2) By Resins: Poly Vinyl Acetate (PVA), Acrylics, Polyurethane, Other Resins
3) By Application: Flexible Packaging, Folding Box And Cartons, Sealing, Labels And Tapes, Other Applications
Major companies operating in the packaging adhesives market are focused on developing innovative solutions, such as sustainable flexible packaging adhesives, to gain a competitive edge in the market. Sustainable flexible packaging adhesives are eco-friendly adhesives specifically designed for use in flexible packaging applications. For instance, in May 2022, Henkel, a Germany-based chemicals company, launched a new RE range of adhesives and coatings specifically designed for recycling and enabling the creation of sustainable, flexible packaging at the design phase. Loctite Liofol LA 7818 RE/6231 RE and Loctite Liofol LA 7102 RE/6902 RE have been launched under the RE series, which are solvent-free adhesives designed for use in flexible packaging and to enable improved packaging recycling. The systems have also been acknowledged for their recyclability by RecyClass, a broad industry-wide program that promotes the recyclability of plastic packaging and guarantees the traceability and transparency of recycled plastic material in Europe. These ground-breaking solvent-free adhesives underwent rigorous testing in compliance with rigorous scientific methods to obtain RecyClass approval, demonstrating their compatibility with the package recycling procedure.
The packaging adhesives market report table of contents includes:
1. Executive Summary
2.Packaging Adhesives Market Characteristics
3.Packaging Adhesives Market Trends And Strategies
4.Packaging Adhesives Market analysis
5.Packaging Adhesives Market Size And Growth
6.Packaging Adhesives Segmentation
7.Packaging Adhesives Regional And Country Analysis
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27.Packaging Adhesives Competitive Landscape And Company Profiles
28.Packaging Adhesives Key Mergers And Acquisitions
29.Packaging Adhesives Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- BASF SE
- The Dow Chemical Company
- 3M Company
- Henkel AG & Company KGaA
- Illinois Tool Works Inc.
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