The water-based segment in the global packaging adhesives market is estimated to account for majority revenue share of over 30% in 2017. The first five-year cumulative revenue (2017–2021) from the water-based segment in the global packaging adhesives market is projected to be US$ 40,237.5 Mn, as compared to a higher cumulative revenue for the latter five years of the forecast period (2022–2026).
Water-based adhesives are formulated from either natural polymers such as from vegetable sources, protein sources, and animal or soluble synthetic polymers such as polyvinyl alcohol, methylcellulose, carboxymethylcellulose, cellulose ethers, and polyvinylpyrrolidone. Increasing adoption of water-based adhesives in packaging adhesives across the globe is expected to drive growth of the global packaging adhesives market in next five years. In addition, increasing adoption of water-based packaging adhesives in end-use applications such as paper packaging, labelling, and others is expected to fuel the market growth in near future.
However, rising demand for use of eco-friendly compounds in packaging adhesives, owing to stringent government regulations increases manufacturing cost, which is expected to hamper growth of the market.
The packaging adhesives market in North America is estimated to account for largest revenue share of over 30% in 2017, while the market in Asia Pacific is expected to register a CAGR of over 5% in next ten years.
