Packaging Adhesives Market - By Product Type (Water-based Adhesives, Solvent-based Adhesives, Hot Melt Adhesives, Reactive Adhesives, Pressure-sensitive Adhesives), By Application, By End-use & Forecast, 2023 - 2032

Packaging Adhesives Market - By Product Type (Water-based Adhesives, Solvent-based Adhesives, Hot Melt Adhesives, Reactive Adhesives, Pressure-sensitive Adhesives), By Application, By End-use & Forecast, 2023 - 2032

Packaging Adhesives Market size is expected to expand at over 3.5% CAGR from 2023 to 2032 driven by the surge in sustainable packaging trends across the globe.

The growing environmental concerns and awareness have spurred multiple industries to prioritize eco-friendly packaging solutions. This is boosting the demand for adhesives with reduced environmental impacts. Furthermore, water-based and bio-based adhesives are gaining immense prominence as they match the rising push for circular economies. Several manufacturers and consumers are also increasingly favoring adhesives that support green initiatives, propelling the industry growth. For instance, in April 2023, Dow and Avery Dennison collaborated to develop a new sustainable hot melt label adhesive solution to enhance packaging recycling. Moreover, the increasing adoption of sustainable practices across several industries is contributing to the growing acceptance of bio-based packaging adhesives.

The packaging adhesives industry is segmented into product type, application, end-use, and region.

Based on product type, the pressure-sensitive packaging adhesives industry is projected to gain significant traction from 2023 to 2032. The growing consumer preference for convenient and lightweight packaging is surging the demand for pressure-sensitive adhesives. Additionally, the versatility, ease of application, and enhanced aesthetics provided by pressure-sensitive adhesives is making them a preferred choice across industries, including food and beverages, pharmaceuticals, and cosmetics.

In terms of end-use, the packaging adhesives market from the industrial segment witnessed considerable demand in 2022 and is anticipated to depict robust growth between 2023 and 2032. The rising need for secure and durable packaging for in transit goods is fueling the demand for reliable adhesives across multiple industries. Industrial packaging adhesives help in bonding materials like corrugated cardboard, metals, and plastics for ensuring the integrity of heavy-duty packaging. Moreover, the emphasis on efficient and sustainable packaging solutions will further propel the adoption of innovative adhesives in industrial packaging.

Regionally, the Asia Pacific packaging adhesives market is set to exhibit a robust growth rate during 2023-2032 fueled by the burgeoning industrial and manufacturing sectors in the region. Rapid urbanization, increasing consumer demand, and the expanding e-commerce activities have escalated the need for efficient and reliable packaging solutions. Furthermore, multiple market participants are focusing on proactive expansion strategies, including market diversification and expansion of production capacity to cater to the evolving packaging needs across diverse industries and regions, thereby fostering the market growth. For instance, in May 2023, leading adhesive producer Jowat announced plans to establish its adhesive center in China for significantly expanding its footprint in the Asia-Pacific region.