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Packaging Adhesives Market Overview 2024-2033 - Trends, Analysis, and Strategic Insights
Packaging Adhesives Market
The Business Research Company presents an extensive market research report on the Packaging Adhesives Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The packaging adhesives market size hasgrown strongly in recent years. It will grow from $15.62 billion in 2023 to $16.53 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to rise of e-commerce, growing emphasis on sustainable and eco-friendly adhesives, rising safety challenges in food and beverage packaging, consumer demand and sustainability trend, and regulations and compliance.
The packaging adhesives market size is expected to see steady growth in the next few years. It will grow to $19.86 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to Rising demand for packaging in the food industry, Growing focus on sustainability requirements, technological advancements in the packaging industry, Increasing demand for flexible, rigid, and semi-rigid packaging, and growing demand for eco-friendly adhesives. Major trends in the forecast period include e-commerce impact, technological advancements, sustainability, geographical dominance, and regulatory impact.
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Key Market Players:
Major companies operating in the packaging adhesives market report are BASF SE, The Dow Checimal Company, 3M Company, Henkel AG & Company KGaA, Illinois Tool Works Inc., DowDuPont Inc., Arkema S.A., AkzoNobel N.V., Eastman Chemical Company, Sika AG, Avery Dennison Corporation, Wacker Chemie AG, Huntsman Corporation, H.B. Fuller Company, Ashland Inc., RPM International Inc., Sipchem, Mapei S.p.A., Paramelt B.V., Scott Bader Company Ltd., Beardow Adams Group (Acquired by H.B. Fuller), Dymax Corporation, Adhesives Research Inc., Super Glue Corporation, Jowat SE
Market Drivers:
The growth of the e-commerce industry is expected to propel the growth of the packaging adhesives market going forward. E-commerce, or electronic commerce, refers to the trading of goods and services on the Internet. Packaging adhesive is used in the e-commerce sector to provide reliable and efficient packaging solutions for order fulfillment. For instance, in November 2023, according to the International Trade Administration, a US-based government agency, eCommerce revenues in the UK are expected to have an annual average growth rate of 12.6% by 2025, and as of January 2021, consumer eCommerce accounted for 36.3% of the UK's overall retail industry, and expected to reach $285.60 billion by 2025. Therefore, the growth of the e-commerce industry is driving the growth of the packaging adhesives market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/packaging-adhesives-global-market-report
The packaging adhesives market covered in this report is segmented -
1) By Technology: Water-Based, Solvent-Based, Hot Melt
2) By Resins: Poly Vinyl Acetate (PVA), Acrylics, Polyurethane, Other Resins
3) By Application: Flexible Packaging, Folding Box And Cartons, Sealing, Labels And Tapes, Other Applications
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