Packaging Adhesive Market
Packaging Adhesive Market Forecasts to 2030 - Global Analysis By Product Type (Coating, Flexible Foam, Elastomers, Rigid Foam and Other Product Types), Raw Material Type, Packaging Type, Adhesive Chemistry, Technology, Application, End User,and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $16.09 BN |
|
Projected Year Value (2030) |
US $22.95 BN |
|
CAGR (2023 - 2030) |
5.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Packaging Adhesive Market is accounted for $16.09 billion in 2023 and is expected to reach $22.95 billion by 2030 growing at a CAGR of 5.2% during the forecast period. Packaging adhesive refers to a specialized type of adhesive designed for bonding, sealing, and laminating materials in the packaging industry. They are formulated to adhere to a wide range of substrates commonly used in packaging, such as paper, cardboard, plastics, and metals. They contribute to the efficiency of packaging processes by providing strong and reliable bonds that withstand the stresses of transportation and handling.
According to the India Brand Equity Foundation (IBEF), the packaging industry in India is expected to reach USD 204.81 billion by 2025, with food processing being the largest packaging consumer.
Market Dynamics:
Driver:
Rising demand for sustainable solutions
Sustainable packaging adhesives contribute to a circular economy by supporting the recycling process. As environmental consciousness grows globally, consumers, industries, and regulatory bodies increasingly prioritize eco-friendly practices. Moreover, manufacturers are responding by developing adhesives with reduced environmental impact, incorporating biodegradable components, and ensuring recyclability, which is boosting this market expansion.
Restraint:
High cost of raw materials
The cost of raw materials directly affects the overall production cost and profitability of adhesive manufacturers, which can have an impact on the pricing and affordability of these products. The raw materials used in adhesive formulations, such as resins, solvents, additives, and curing agents, are subject to price fluctuations influenced by global supply and demand dynamics. Additionally, specialty or high-performance raw materials, which tend to have higher costs compared to standard raw materials, further drive up the overall cost of production.
Opportunity:
Innovations in packaging design
Packaging adhesives play a crucial role in enabling these innovations by facilitating the bonding of diverse materials and supporting intricate design elements. Advanced adhesive technologies allow for the creation of secure seals, flexible packaging formats, and unique labeling applications. Moreover, the rise of e-commerce has spurred innovations in packaging to withstand the challenges of online shipping, reinforcing the importance of adhesives in ensuring package integrity during transportation and thereby driving this market significantly.
Threat:
Lack of awareness
There is a wide range of adhesive types and formulations available, but many businesses and consumers may be unaware of the importance of selecting the right adhesive or may have limited knowledge about the available options and their specific applications. As a result, businesses and consumers may make uninformed choices or opt for suboptimal adhesive solutions, leading to potential issues. This can hinder the adoption of newer, more effective adhesive solutions and perpetuate the use of traditional, less efficient options.
Covid-19 Impact
The COVID-19 pandemic has exerted several negative impacts on the market, disrupting supply chains, dampening demand, and influencing market dynamics. Supply chain disruptions, including shortages of raw materials and transportation bottlenecks, posed significant challenges for adhesive manufacturers, leading to potential delays in production and distribution. Additionally, uncertainties in the global economy prompted many businesses to reevaluate their spending, potentially affecting investment in new packaging projects and innovations and significantly hindering market growth.
The polyol segment is expected to be the largest during the forecast period
The polyol segment is estimated to hold the largest share. Polyols are versatile compounds that serve as essential components in the production of polyurethane-based adhesives, which are widely used in the packaging industry. They offer excellent bonding strength, flexibility, and resistance to environmental factors, making them suitable for various packaging applications. Furthermore, their versatility allows for the creation of strong and durable bonds, ensuring the integrity of packaging materials throughout the supply chain, which propels this segment’s size.
The semi-rigid packaging segment is expected to have the highest CAGR during the forecast period
The semi-rigid packaging segment is anticipated to have highest CAGR during the forecast period due to a class of packaging materials that possess attributes of both flexibility and rigidity. This packaging category includes materials like PET (polyethylene terephthalate), PP (polypropylene), and thermoformed containers, widely used in industries such as food, pharmaceuticals, and consumer goods. Moreover, facilitate the incorporation of innovative design elements and the visual appeal of the packaging, which is boosting this segment’s growth.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to the development of advanced adhesive technologies, including eco-friendly formulations and high-performance adhesives. The rise of e-commerce in North America has heightened the demand for reliable and secure packaging, thereby influencing adhesive requirements. Additionally, stringent regulations governing food safety, product labeling, and environmental impact drive the adoption of compliant packaging adhesives.
Region with highest CAGR:
Asia Pacific is expected to witness highest CAGR over the projection period, owing to growing industrialization, urbanization, and increasing consumer demand. Countries such as China, India, Japan, and South Korea are at the forefront of shaping the trajectory of the packaging adhesive industry. Moreover, sustainability considerations have gained prominence, driving the development and adoption of eco-friendly packaging adhesives in response to environmental awareness and regulatory initiatives.
Key players in the market
Some of the key players in the Packaging Adhesive Market include The Dow Chemical Company, Arkema, Jowat AG, Lubrizol Corporation, Wacker Chemie AG, Henkel AG & Co. KGaA, Huntsman Corporation, Avery Dennison, HB Fuller and 3M Company
Key Developments:
In November 2023, 3M Health Information Systems (HIS) announces a broader collaboration with Smart Reporting, with this collaboration, 3M HIS extends its portfolio of solutions that includes 3M™M*Modal Fluency for Imaging.
In September 2023, Huntsman Corporation launched its Technology Portal, a platform dedicated to engaging with innovators and manufacturers across the value chain.
In August 2022, Huntsman Corporation announced it has entered into a definitive agreement to sell its Textile Effects division to Archroma, a portfolio company of SK Capital Partners.
Product Types Covered:
• Coating
• Flexible Foam
• Elastomers
• Rigid Foam
• Other Product Types
Raw Material Types Covered:
• Methylene Diphenyl Diisocyanate (MDI)
• Polyol
• Toluene Diisocyanate (TDI)
• Other Material Types
Packaging Types Covered:
• Semi-Rigid Packaging
• Rigid-Packaging
• Flexible Packaging
• Other Packaging Types
Adhesive Chemistry Covered:
• Acrylic
• Polyurethane
• Phenolic
• Polyamide
• Epoxy
• Ethylene Vinyl Acetate (EVA)
• Polyvinyl Acetate (PVA)
• Polyacrylic Ester (PAE)
Technologies Covered:
• Solvent-Based
• Water-Based
• Hot Melt
• Other Technologies
Applications Covered:
• Boxes & Cases
• Labeling
• Laminating Film
• Corrugated Boxes
• Folding Cartons
• Paper Bags
• Other Applications
End Users Covered:
• Cosmetics and Personal Care
• Healthcare
• Automotive
• Consumer Goods
• Electrical and Electronics
• Food and Beverages
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Packaging Adhesive Market, By Product Type
5.1 Introduction
5.2 Coating
5.3 Flexible Foam
5.4 Elastomers
5.5 Rigid Foam
5.6 Other Product Types
6 Global Packaging Adhesive Market, By Raw Material Type
6.1 Introduction
6.2 Methylene Diphenyl Diisocyanate (MDI)
6.3 Polyol
6.4 Toluene Diisocyanate (TDI)
6.5 Other Material Types
7 Global Packaging Adhesive Market, By Packaging Type
7.1 Introduction
7.2 Semi-Rigid Packaging
7.3 Rigid-Packaging
7.4 Flexible Packaging
7.5 Other Packaging Types
8 Global Packaging Adhesive Market, By Adhesive Chemistry
8.1 Introduction
8.2 Acrylic
8.3 Polyurethane
8.4 Phenolic
8.5 Polyamide
8.6 Epoxy
8.7 Ethylene Vinyl Acetate (EVA)
8.8 Polyvinyl Acetate (PVA)
8.9 Polyacrylic Ester (PAE)
9 Global Packaging Adhesive Market, By Technology
9.1 Introduction
9.2 Solvent-Based
9.3 Water-Based
9.4 Hot Melt
9.5 Other Technologies
10 Global Packaging Adhesive Market, By Application
10.1 Introduction
10.2 Boxes & Cases
10.3 Labeling
10.4 Laminating Film
10.5 Corrugated Boxes
10.6 Folding Cartons
10.7 Paper Bags
10.8 Other Applications
11 Global Packaging Adhesive Market, By End User
11.1 Introduction
11.2 Cosmetics and Personal Care
11.3 Healthcare
11.4 Automotive
11.5 Consumer Goods
11.6 Electrical and Electronics
11.7 Food and Beverages
11.8 Other End Users
12 Global Packaging Adhesive Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 The Dow Chemical Company
14.2 Arkema
14.3 Jowat AG
14.4 Lubrizol Corporation
14.5 Wacker Chemie AG
14.6 Henkel AG & Co. KGaA
14.7 Huntsman Corporation
14.8 Avery Dennison
14.9 HB Fuller
14.10 3M Company
List of Tables
1 Global Packaging Adhesive Market Outlook, By Region (2021-2030) ($MN)
2 Global Packaging Adhesive Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Packaging Adhesive Market Outlook, By Coating (2021-2030) ($MN)
4 Global Packaging Adhesive Market Outlook, By Flexible Foam (2021-2030) ($MN)
5 Global Packaging Adhesive Market Outlook, By Elastomers (2021-2030) ($MN)
6 Global Packaging Adhesive Market Outlook, By Rigid Foam (2021-2030) ($MN)
7 Global Packaging Adhesive Market Outlook, By Other Product Types (2021-2030) ($MN)
8 Global Packaging Adhesive Market Outlook, By Raw Material Type (2021-2030) ($MN)
9 Global Packaging Adhesive Market Outlook, By Methylene Diphenyl Diisocyanate (MDI) (2021-2030) ($MN)
10 Global Packaging Adhesive Market Outlook, By Polyol (2021-2030) ($MN)
11 Global Packaging Adhesive Market Outlook, By Toluene Diisocyanate (TDI) (2021-2030) ($MN)
12 Global Packaging Adhesive Market Outlook, By Other Material Types (2021-2030) ($MN)
13 Global Packaging Adhesive Market Outlook, By Packaging Type (2021-2030) ($MN)
14 Global Packaging Adhesive Market Outlook, By Semi-Rigid Packaging (2021-2030) ($MN)
15 Global Packaging Adhesive Market Outlook, By Rigid-Packaging (2021-2030) ($MN)
16 Global Packaging Adhesive Market Outlook, By Flexible Packaging (2021-2030) ($MN)
17 Global Packaging Adhesive Market Outlook, By Other Packaging Types (2021-2030) ($MN)
18 Global Packaging Adhesive Market Outlook, By Adhesive Chemistry (2021-2030) ($MN)
19 Global Packaging Adhesive Market Outlook, By Acrylic (2021-2030) ($MN)
20 Global Packaging Adhesive Market Outlook, By Polyurethane (2021-2030) ($MN)
21 Global Packaging Adhesive Market Outlook, By Phenolic (2021-2030) ($MN)
22 Global Packaging Adhesive Market Outlook, By Polyamide (2021-2030) ($MN)
23 Global Packaging Adhesive Market Outlook, By Epoxy (2021-2030) ($MN)
24 Global Packaging Adhesive Market Outlook, By Ethylene Vinyl Acetate (EVA) (2021-2030) ($MN)
25 Global Packaging Adhesive Market Outlook, By Polyvinyl Acetate (PVA) (2021-2030) ($MN)
26 Global Packaging Adhesive Market Outlook, By Polyacrylic Ester (PAE) (2021-2030) ($MN)
27 Global Packaging Adhesive Market Outlook, By Technology (2021-2030) ($MN)
28 Global Packaging Adhesive Market Outlook, By Solvent-Based (2021-2030) ($MN)
29 Global Packaging Adhesive Market Outlook, By Water-Based (2021-2030) ($MN)
30 Global Packaging Adhesive Market Outlook, By Hot Melt (2021-2030) ($MN)
31 Global Packaging Adhesive Market Outlook, By Other Technologies (2021-2030) ($MN)
32 Global Packaging Adhesive Market Outlook, By Application (2021-2030) ($MN)
33 Global Packaging Adhesive Market Outlook, By Boxes & Cases (2021-2030) ($MN)
34 Global Packaging Adhesive Market Outlook, By Labeling (2021-2030) ($MN)
35 Global Packaging Adhesive Market Outlook, By Laminating Film (2021-2030) ($MN)
36 Global Packaging Adhesive Market Outlook, By Corrugated Boxes (2021-2030) ($MN)
37 Global Packaging Adhesive Market Outlook, By Folding Cartons (2021-2030) ($MN)
38 Global Packaging Adhesive Market Outlook, By Paper Bags (2021-2030) ($MN)
39 Global Packaging Adhesive Market Outlook, By Other Applications (2021-2030) ($MN)
40 Global Packaging Adhesive Market Outlook, By End User (2021-2030) ($MN)
41 Global Packaging Adhesive Market Outlook, By Cosmetics and Personal Care (2021-2030) ($MN)
42 Global Packaging Adhesive Market Outlook, By Healthcare (2021-2030) ($MN)
43 Global Packaging Adhesive Market Outlook, By Automotive (2021-2030) ($MN)
44 Global Packaging Adhesive Market Outlook, By Consumer Goods (2021-2030) ($MN)
45 Global Packaging Adhesive Market Outlook, By Electrical and Electronics (2021-2030) ($MN)
46 Global Packaging Adhesive Market Outlook, By Food and Beverages (2021-2030) ($MN)
47 Global Packaging Adhesive Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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