📈Packaging Adhesive Market Overview:
The global packaging adhesive market is estimated to grow from USD 12.54 billion in 2022 to reach an estimated USD 23 billion by 2032.
Registered at a 6.3% CAGR between 2023 and 2032.
🌏 Asia Pacific Leadership:
Asia Pacific leads in packaging adhesive supremacy with a 40% market share.
Rapid industrialization and urbanization in countries like China and India contribute to its dominance.
🌐 North America’s Ascension:
North America emerges as the second premier market for packaging adhesives.
Mature packaging industry, stringent quality standards, and adoption of cutting-edge technologies are key factors.
🌱 Water-Based Adhesives:
Water-based adhesives spearhead technological advancements.
Eco-friendly attributes, low VOC emissions, and compliance with environmental regulations contribute to their supremacy.
Notable examples include the Hotmelt Label Adhesive by Avery Dennison and Dow, promoting packaging recycling.
🌿 Sustainability Trends:
Increasing emphasis on sustainability in the packaging adhesive market.
Growing demand for eco-friendly and bio-based adhesives.
Water-based adhesives gaining popularity due to lower environmental footprint.
🔄 Flexible Packaging Revolution:
Flexible packaging commands the packaging adhesive revolution.
Lightweight design, cost-effectiveness, and convenience drive its adoption.
Significant demand in food and beverage, healthcare, and personal care industries.
🌐 Asia Pacific’s Dominance Factors:
Dynamic economic growth, industrialization, and urbanization drive Asia Pacific’s dominance.
Robust growth in the manufacturing sector amplifies demand for packaging materials and adhesives.
Asia Pacific is a central production hub, contributing to global trade.
🌎Packaging Adhesive Market Competitive Landscape:
Key players include Henkel, 3M, H.B. Fuller, Dow, Bostik, Arkema, Avery Dennison, and others.
Strategic initiatives like mergers, acquisitions, and partnerships are prevalent.
Focus on research and development to cater to evolving industry trends.
🔄 Recent Developments:
- Notable acquisitions include Henkel acquiring Sonderhoff Group and Darex Packaging Technologies.
- H.B. Fuller acquiring Beardow Adams, and Huntsman Corporation completing the acquisition of Gabriel Performance Products.
- SAPICI’s acquisition by Sun Chemical and the subsequent acquisition of SAPICI by Sun Chemical Group.
📊Packaging Adhesive Market Segments:
Technology:
- Water-Based
- Hot Melt
- Solvent-Based
- Others
Application:
- Flexible Packaging
- Boxes & Cases
- Folding Cartons
- Labelling
- Others
Region:
- North America
- Europe
- Asia Pacific
- LAMEA