Packaging Adhesives Market

Packaging Adhesives Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Technology (Water-based, Solvent-based, Hot Melt, Others); By Resins (PVA, Acrylics, Polyurethane, Others); By Application (Case & Carton, Corrugated Packaging, Labeling, Flexible Packaging, Specialty Packaging, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Global Packaging Adhesives Market Set to Touch USD 19.86 Billion by 2029

Global packaging adhesives market is flourishing due to the expansion of the packaged food and beverages industry, the growing consumer awareness regarding food safety, and the implementation of new trials and safety measures.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global packaging adhesives market size at USD 15.64 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the size of global packaging adhesives market size to grow at a CAGR of 4.06% reaching a value of USD 19.86 billion by 2029. The projected growth of the global packaging adhesives market is expected to be driven by various factors, such as the expansion of the packaged food and beverages industry, the growing consumer awareness regarding food safety, and the implementation of new trials and safety measures. Furthermore, the growth of emerging markets and increasing end-use applications in various industries present potential opportunities for the expansion of the global packaging adhesives market in the future.

Opportunity: Strong demand from thriving global e-commerce industry

E-commerce packages need to withstand various handling and transportation conditions to ensure product safety. Packaging adhesives play a crucial role in providing secure seals, strong bonding, and tamper-evident features that protect products during transit. As the e-commerce sector expands, there is a growing demand for packaging adhesives that can effectively address these specific needs. E-commerce often requires customized packaging formats to accommodate different products and optimize shipping efficiency. This includes the use of specialized adhesives for various packaging materials, such as corrugated boxes, flexible pouches, bubble mailers, and polybags. Packaging adhesives need to be versatile and adaptable to adhere to diverse packaging substrates, driving the demand for innovative adhesive solutions.

Impact of COVID-19 on Global Packaging Adhesives Market

Global supply chains were hampered by COVID-19 pandemic, which also affected the availability and delivery of the raw ingredients needed for packaging adhesives. The production and supply of packaging adhesives were hampered by delays and shortages because of lockdown procedures, travel restrictions, and temporary facility closures. Several industries saw a reduction in demand during the pandemic due to lockdowns, economic slowdowns, and changes in consumer behaviour. For instance, the need for packaging adhesives decreased significantly in industries like hospitality, tourism, and luxury products as a result of the huge decline in packaging requirements.

Segmental Information

Global Packaging Adhesives Market - By Application

By application, the global packaging adhesives market is divided into case & carton, corrugated packaging, labeling, flexible packaging, specialty packaging, and other segments. The case & carton segment is expected to grow at the fastest rate over the forecast period. The case & carton packaging refers to the sealing and bonding of cartons, boxes, and other containers used for packaging various products across industries. The growing consumer preference for convenience, organized storage, and product protection has fueled the demand for packaged goods. Case & carton packaging is widely used in industries, such as food and beverages, pharmaceuticals, consumer goods, and e-commerce, to package and transport products safely. This demand for packaged goods drives the need for packaging adhesives used in case & carton applications. The rapid expansion of the e-commerce industry has significantly influenced the growth of case & carton packaging. With the rise of online shopping, there is an increased need for secure packaging solutions to protect products during transit. Case & carton packaging, along with appropriate adhesives, plays a vital role in ensuring the integrity and safety of products in the e-commerce supply chain.

Competitive Landscape

The packaging adhesives market is fragmented, with numerous players serving the market. The key players dominating the global packaging adhesives market include Jowat AG, Wacker HB Fuller, Bostik, 3M, SIKA, Paramelt B.V, Chemie AG, Avery Dennison, Ashland, Dymax, Robatech, Jowat Canada Inc., Henkel AG & Co, Sapson Packaging, Hindustan Adhesives limited, and Jonson Tapes. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisition to expand their customer reach and gain a competitive edge in the overall market.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Packaging Adhesives Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Packaging Adhesives Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.