Global Packaging Adhesives Market was valued at US$ 6.1 billion in 2017 | Major players are Wacker Chemie AG, Ashland Inc., Dymax Corporation, DowDuPont Inc., and Huntsman Corporation.
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.
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.
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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.
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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.
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