Market Research Future (MRFR) has published on the “Global Packaging Adhesives Market”.
The packaging adhesives market is estimated to register a CAGR of 3.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global packaging adhesives market— 3M, Arkema Group (Bostik), AVERY DENNISON CORPORATION,Ashland,Dow,Henkel AG & Co. KGaA,H.B. Fuller Company,Jowat SE,Paramelt RMC B.V.,Wacker Chemie AG
The global packaging adhesives market is accounted to register a CAGR of 3.50% during the forecast period and is estimated to reach USD 20.3 Billion by 2032.
Globally, the market for packaging adhesives was expanding consistently. The market's growth was fueled by an increase in the need for creative and sustainable packaging solutions across a number of sectors, including consumer goods, food and beverage, and pharmaceuticals. Environmentally friendly adhesive compositions and technological developments both played a role. Refer to recent sources and industry reports for the most recent statistics.
The global packaging adhesives market has been segmented into technology and application.
On the basis of technology, the market is segmented into water-based, solvent-based and hot-melt. The Water-based segment dominated the market in 2022. Increased worker and user safety is offered by water-based adhesives.
Based on application, the global packaging adhesives market has been segmented into flexible packaging, folding boxes and cartons, sealing, labels and tapes and other applications. The folding boxes and cartons category generated the most income in 2022. Consumption of consumer products is closely correlated with demand for folding boxes and cartons.
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The global packaging adhesives market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Packaging Adhesives market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Packaging Adhesives market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Packaging Adhesives market comprises of Middle East, Africa, and Latin America.
The North America packaging adhesives market dominated this market in 2022 (45.80%). North America is known for its constant innovation and usage of cutting-edge packaging technology. High-performance adhesives that can support specialized applications, such as automotive, electronics, and temperature-sensitive items, are sought after by the packaging industry in this region.
Moreover, the second-largest market share is held by Europe in the packaging adhesives market. In Europe, there has been a concerted effort to promote sustainability and the circular economy. The demand for packaging adhesives that are recyclable, biodegradable, and release few volatile organic compounds (VOCs) is fueled by the high value placed on eco-friendly packaging choices.
Additionally, the packaging adhesives market in Asia-Pacific is anticipated to expand at the quickest CAGR between 2023 and 2032. The Asia Pacific area is seeing rapid economic growth, which is driving up consumer demand. The demand for packaging adhesives is increased as a result of this growth in a variety of industries, including electronics, food & beverage, and personal care.
Furthermore, Latin America's packaging adhesives market was expanding at a promising rate. Market expansion was being driven by the region's growing emphasis on eco-friendly and cutting-edge packaging solutions across sectors like food and beverage, medicines, and consumer goods. The market was growing as a result of technological developments and environmentally friendly adhesive compositions. Consult current sources and industry publications for the most up to date knowledge.
Key Findings of the Study