Key Market Overview:
Packaging adhesives market size was valued at USD 13.3 Billion in 2022, growing at a CAGR of 5.7% during the forecast period (2022-2030), and the market is anticipated to hit a valuation of over USD 20.8 Billion by 2030.
An adhesive is a substance with the capacity of holding materials together in a purposeful manner by surface attachment and resistance to separation. In terms of packaging, the adhesives are used in cardboard and laminating paper, gluing lining and labels of the food packages such as beverage cans. Furthermore, the packaging adhesives are primarily separated into three groups: hot melts, solvent-based systems, and waterborne.
Packaging adhesives are required to meet the demands of several finished products either in terms of flexible packaging with cold/heat seal and wet/dry lamination, or compression-sensitive applications such as labels, films, and tapes. Thus, a suitable adhesive delivers specific adhesion application in terms of internal strength. Furthermore, multiple product innovations have been introduced such as water-resistive adhesives, semi-permanent and removable adhesions, and abrasive solvent-resistant adhesives.
Additionally, the chemical properties such as protection against corrosion, even distribution of stress loads, and compatibility with existing production lines aid in favorable packaging adhesives market demand. Thus, these adhesives are mainly used in the food and beverage industry in terms of the health and safety criteria of food products.
|Market Size in 2030 (USD Billion)
|Water-based, Solvent-based, Hot-Melt, Starch and Emulsion-based
|Flexible Packaging, Folding Boxes and Cartons, Sealing, Labels and Tapes, Special Packaging, and Others
|Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
|Henkel AG & Co. KGaA, Hitachi Chemical Company, Bostik, 3M, H.B. Fuller Company, Arkema (Bostik), Avery Dennison Corporation, Dow, Dymax, Wacker Chemie, Ashland, Sika
The increased usage of packaging adhesives in packaged food & beverage industry fuels market growth due to the surged demand for such products among the population. Furthermore, the favorable acceptance of flexible packaging as a reliable, safe, and effective solution to food packaging accelerates the demand for adhesives. In the context of the construction and paper packaging industry, adhesives play a crucial role in terms of solvent-based and solvent-free adhesives such as acrylic and polyurethane-based solutions. Thus, such augmented applications bolster the packaging adhesives market statistics during the forecast period.
The temperature limits especially in the case of hot melt adhesives hamper the usage of such adhesives due to loss of bond strength. Additionally, stringent authoritative regulations are imposed for reducing the adverse environmental effects caused by the adhesives. Thus, such restrictions limit the usage of such adhesives during the forecast period.
The initial phases of the COVID-19 pandemic outbreak posed challenging circumstances in terms of the majority of end-use industries. However, in the context of packaging adhesives, a sudden surge in the demand for packaged consumer goods resulted in augmented market demand. The booming usage of e-commerce platforms for basic necessities resulted in the escalation of packaged goods demand as compliance towards social distancing. Thus, multiple businesses shifted towards innovative product launches to support the augmented demand for such packaged goods in terms of thermoplastic-based adhesives and others. Post COVID-19, the market is estimated to witness steady growth due to a rising preference for products from e-commerce platforms.
Smartphone Screen Protector Market Segmentation:
The technology segment is divided into water-based, solvent-based, hot-melt, starch, and emulsion-based. The water-based segment registered the fastest CAGR growth of over 5.9% in 2021. These water-based or waterborne adhesives are cost-effective alternatives as compared to organic solvent-based alternatives. Thus, these adhesives are largely utilized on an assorted range of substrates such as paper, plastics, cardboard, natural & synthetic textiles, and metallic films due to their uniform consistency and wet bond adhesion. Furthermore, hot-melt adhesives are also anticipated to witness substantial growth in terms of volume. These hot-melt adhesives comply with food safety regulations and are ideal choices for cardboard, adhering paper, and plastic substrates. Thus, the features such as heat resistance, in-bulk availability, elasticity, and non-toxicity to humans support the segment growth during the projected period.
The application segment is separated into special packaging, folding boxes and cartons, flexible packaging, sealing, labels and tapes, and others. The folding boxes and cartons segment is anticipated to support the packaging adhesives market growth in terms of volume. These boxes and cartons are largely utilized to facilitate the safe transport of usable goods via stable cushioning to the product. Thus, the augmented usage of such cartons for reduced risks of wear and tear during such transportation activities supports segment growth. Additionally, the flexible packaging segment is also projected to witness significant growth during the forecast period. The materials used in these flexible packaging are biodegradable, recyclable, and reusable in nature. Thus, the segment is projected to support market growth in terms of consumer convenience, attractive packaging designs, and enhanced product preservation.
The regional segment comprises of North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. In the context of the region, Asia Pacific is estimated to contribute the largest share to the market growth. The presence of numerous manufacturing facilities coupled with the emphasis on product innovations in terms of packaged foods bolster the market statistics in the Asia Pacific region.
Furthermore, North America is also anticipated to support the market growth in terms of value. The prevalence of high awareness among consumers along with businesses concerning effective packaging solutions supports the market growth in this region due to high disposable income. In addition to this, the high presence of industry players coupled with the surged expenditures on research and development also strengthens the market presence in the North American region.
Packaging Adhesives Market Competitive Landscape:
The research report on the packaging adhesives market includes the collation of qualitative and quantitative evaluations in terms of market trends. Moreover, the in-detailed examination of business strategies, product innovations, and mergers & acquisitions adopted offers a lucrative analysis of the market position of the industry position. Additionally, the macroeconomic indicators that influence the business value chain provide a comprehensive outlook of the market circumstances. Thus, mentioned are the substantial industry players that account for the consolidated market concentration–
• ZAGG Inc.
•Henkel AG & Co. KGaA
• Hitachi Chemical Company
• H.B. Fuller Company
• Arkema (Bostik)
• Avery Dennison Corporation
• Wacker Chemie
• In November 2022, the French firm named Bostik launched the two product innovations of tape and label adhesives in India. The first innovation called Bostik HM2060 adhesive aids in easy maintenance with machines in terms of improved solvent and oil resistance and enhanced adhesion on low surface energy substrates. Furthermore, the second product called Bostik HM2070 is specifically designed for kraft paper-based and thick PE-based bags as environment-friendly packaging.
• In June 2022, Japan\'s prominent laminating adhesives manufacturer and an affiliate of the Toyo Ink Group, Toyo Morton, introduced the latest laminating adhesives portfolio of food-safe products. The renewed product lineup comprises both the solvent-free ECOAD™ and solvent-based TOMOFLEX™ series of laminating adhesives. These adhesives are appropriate for numerous multilayer flexible packaging applications like a liquid pouch, dry food, and high-performance retort.