Overview and Scope
Packaging adhesive refers to an essential component used in the packaging industry to bond, seal, or laminate various materials, such as paper, cardboard, and plastic. They are used in creating secure and durable packaging solutions, ensuring the integrity and stability of packaging structures.
Sizing and Forecast
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 rise of e-commerce, growing emphasis on sustainable and eco-friendly adhesives, rising safety challenges in food and beverage packaging, consumer demand and sustainability trend, and regulations and compliance.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The packaging adhesives market report table of contents includes:
1. Executive Summary
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