Packaging Adhesives Market

Packaging Adhesives Market - Size, Share, Trends,
and Forecast to 2026
Adhesives are used in packaging applications such as corrugated box construction,
lamination of printed sheets, and production of industrial tubes, among
others.Growing demand for packaging is driving growth of the global adhesives
market. According to a study by Coherent Market Insights, global industrial
packaging market is estimated to reach US$ 97.2 billion by 2025.
Growing e-commerce industry is propelling demand for packaging adhesives.
According to the United States Census Bureau, the e-commerce sales was reported
at US$ 105,096 Mn out of US$ 1,274,565 Mn of total retail sales in the second
quarter of 2017. In addition to this, the e-commerce sales increased from US$
98,292 Mn in the first quarter of 2017 to US$ 105,096 Mn in the second quarter of
2017.
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Demand for safe and regulatory compliant adhesives that do not affect food, make
the food harmful or change nature, substance or quality of the food is growing
rapidly. Increasing consumption of packaged and processed food is fuelling growth
of the global packaging adhesives market. According to Coherent Market Insights’
study, the global frozen processed food market was valued at US$ 60.12 billion in
2016 and is anticipated to reach US$ 85.49 billion by 2025. However, adhesives
used in food packaging are regulated by authorities such as EU and the U.S. Food
and Drug Administration. For instance, Regulation (EC) No 1935/2004 regulates
materials that come in contact with food.
The global packaging adhesives market was valued at US$ 6.1 billion in 2017 and is
anticipated to register a CAGR of 5.7% in terms of revenue, over the forecast period
(2018 – 2026), to reach US$ 9.2 billion by 2026.
Water-based adhesives segment held significant market share in the global
packaging adhesives market in 2017. This is due to advantages of water-based
adhesives such as low cost, energy efficient, safety, and ease of use. Water-based
adhesives such as starch-based adhesives, natural rubbers, latex, and polyvinyl
acetate adhesives are widely used in labels, composite cans, and form and seal
cartons, among others. Water-based adhesives have low volatile organic
compounds (VOCs). Stringent regulations on VOC emission such as Clean Air Act
Section 183e by the U.S. Environment Protection Agency, which limits usage of
volatile organic compounds in products including adhesives is a major factor driving
growth of the water-based packaging adhesives segment.
Asia Pacific held highest market share of 46.2% in 2017, owing to growing
packaging industry in China, India, and ASEAN countries. According to the Indian
Institute of Packaging (IIP), packaging industry in India is estimated to reach US$ 73
billion by 2020 from US$ 32 billion in 2015.
Demand for packaging adhesives from industries such as food and beverages,
pharmaceuticals, and consumer goods is increasing significantly. According to The
U.S. Department of Agriculture, retail sales of consumer goods reached US$ 4.49
trillion in 2015 in China. These factors are expected to aid in growth of the market in
the region.
Players operating in the global packaging adhesives market are adopting various
growth strategies such as product development to cater to increasing demand for
packaging adhesives. For instance, in July 2018, Brilliant polymers launched
solvent-free adhesives for flexible packaging. In April 2018, Uflex launched 2K PU
laminating adhesive for food packaging and general applications. In September
2015, Loctite Liofol LA 2760/LA 7371 and 2760/LA 5891-21 aliphatic adhesive
system was launched by Henkel.
Major players operating in the global packaging adhesives market include, Henkel
AG & Company, KGaA, 3M Company, Paramelt B.V., H.B. Fuller Company, Bostik
SA, Avery Dennison Corporation, Sika AG, Wacker Chemie AG, Ashland Inc.,
Dymax Corporation, DowDuPont Inc., and Huntsman Corporation.
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The global packaging adhesives market was valued at US$ 6.1 billion in 2017 and is anticipated to register a CAGR of 5.7% in terms of revenue, over the forecast period (2018 – 2026), to reach US$ 9.2 billion by 2026.

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