Packaging Adhesives Market
The global packaging adhesives market was valued at US$ 6.1 Billion in 2017, according to Packaging Adhesives Market Report, by Technology (Water-based, Solvent-based, Hot Melt, and Others) and by Application (Corrugated Packaging, Labeling, Flexible Packaging Case & Carton, Folding Cartons, Specialty Packaging, and Others), by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights. The global packaging adhesives market is projected to reach US$ 9.2 Billion by 2026, exhibiting a CAGR of 5.7% during the forecast period.
Packaging adhesives are used in production and sealing of corrugated boxes and honeycomb packaging. According to Coherent Market Insights’ study, global honeycomb packaging market is expected to reach US$ 16.95 billion by 2025 from US$ 9.64 billion in 2016. In addition to this, according to the Fibre Box Association (FBA), corrugated industry shipments increased by 2.1% in 2016 from 2015 in North America. Increasing demand for corrugated and honeycomb packaging is driving growth of the global packaging adhesives market.
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Players operating in the global packaging adhesives market are developing new technologies, which in turn is fuelling growth of the global packaging market. For instance, in 2015, Mondelez International and Battelle developed Low Tack Adhesive (LTA) for applications in dry goods such as cereals.
Government regulations on use of packaging adhesives in hindering growth of the global packaging adhesives market. For instance, 21CFR175.105 of the U.S. Food and Drug Administration regulates adhesives used for packaging and, transporting food.
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Browse 110 market data tables* and 44 figures* on "Packaging Adhesives Market” - Global forecast to 2026.
Key Trends and Analysis of the Packaging Adhesives Market:
- Water-based packaging adhesives segment held the highest market share in 2017 in the global packaging adhesives market. Water-based adhesives contains low Volatile Organic Compounds (VOCs) as compared to solvent-based adhesives. Volatile Organic Compounds (VOCs) are toxic to environment and health. Growing environment awareness and demand for environment-friendly adhesives is driving growth of the segment over the forecast period.
- Flexible packaging segment held a high market share in the global adhesive packaging market in 2017. Flexible packaging is gaining traction due to its advantages such as light weight and convenience in handling and storage, among others. Growing demand for flexible packaging is propelling growth of the global market as packaging adhesives such as polyurethane adhesives are used in flexible packaging. According to the Flexible Packaging Association, flexible packaging industry in the U.S. was valued at US$ 31.1 billion in sales in 2014 and is witnessing rapid growth.
Key Takeaways of the Market:
- Asia Pacific held a dominant market share of 46.20% in 2017 in the global packaging adhesives market. China accounted for the highest market share in Asia Pacific packaging adhesives market in 2017. Furthermore, China is estimated to retain its dominance during the forecast period.
- Growing e-commerce in Asia Pacific is driving growth of the packaging adhesives market in this region. According to the Associated Chambers of Commerce and Industry of India (ASSOCHAM), in 2016, around 69 million consumers in India purchased commodities online. E-retail sector in India has witnessed significant growth from US$ 3.59 billion in 2013 to US$ 5.30 billion in 2014 according to the ASSOCHAM. In China, according to the China International Electronic Commerce Center, the estimated e-commerce sales was US$ 110 Bn between January and August in 2017. This growth in the e-commerce industry is leading to increasing demand for packaging materials and in turn for packaging adhesives.
- 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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