Packaging Adhesives Market By Application (Flexible Packaging, Folding Carton, Case & Carton, Labeling, Others) By Type (Water-based, Solvent-based, Hot Melt, Others) and By Region - Global Forecast To 2026
31 January 2018
The global packaging adhesives market is estimated to value US$ 7,263.4 million in 2017 and is projected to register a CAGR of over 5% in terms of value during the forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the global packaging adhesives market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report includes PEST analysis, Porter’s Five Forces analysis, and opportunity map analysis for in-depth understanding of the market. The report offers insightful and detailed information regarding the various key players operating in the global packaging adhesives market, their financials, technological innovations, key developments, apart from future strategies, SWOT analysis, acquisitions & mergers, and market footprint. The global packaging adhesives market is segmented on the basis of technology, application, and region.
Packaging adhesives are employed in manufacturing of various packaging products used in flexible packing, non-rigid bonding, and assembling operations to provide high bonding strength. Healthcare and food & beverages are major industries where packaging adhesives are used. Growth of these sectors is evolving numerous advancements in technologies, along with development of innovative and attractive packaging designs which is encouraging use of packaging adhesives. Packaging adhesives are of various types such as solvent-based, water-based, and hot melt.
Global Packaging Adhesives Market Dynamics:
Packaging adhesives are used in various packaging applications, such as flexible packaging, case & carton closures, folding cartons envelopes, and in corrugated converting. Increasing end-use applications in beverage cartons, bags, folding boxes, and labeling are expected to drive the global market in the future.
Report Coverage and Deliverables
Increasing demand for packed food products owing to well-established retail network is expected to increase demand for folding cartons in next ten years. In an attempt to attract more customers, food processing companies are trying to manufacture products with extended shelf life, which comes in innovative packaging. Folding carton packaging segment has witnessed increasing demand from food & beverage industries. In addition, increasing demand for labeling is projected to spur growth of packaging adhesive product in application segments over the projection period.
Labeling adhesive applications ensures strong bonding characteristics on various surfaces through several machines. This is another factor estimated to boost demand for packaging adhesive products over the forecast period.
Market Analysis by Packaging Adhesives Technology:
Among all technology segments, water-based technology segment in the global packaging adhesives market is expected to register a CAGR of over 5% over the forecast period, owing to increasing adoption of water-based packaging adhesives in end use applications such as paper packaging, labelling, and others.
The holt melt segment in the global packaging adhesives market is estimated to account for revenue share of over 20%, owing to lower power consumption and low investment cost for storage space, as compared to other types. In addition, it used as a substitute for reactive polyurethane in manufacturing flexible packing products that are used in food sector which is a major factor driving demand for holt melt packaging adhesives.
Reactive adhesives are manufactured using monomer resins and formulate permanent bond between substrates to provide heat, moisture, and chemical resistance. These adhesives possess excellent properties such as high durability and high bonding strength under extreme environmental conditions which is expected to boost the technology segment growth in next ten years. In addition, these adhesives offer performance advantages over hot-melt or solvent-based by fixing materials which resist melting.
Analysis by Application:
Among all the application segments, flexible packaging segment is projected to register highest CAGR of over 5% owing to increasing demand for packaging adhesives for various food & beverages applications such as ready-to-eat products, snacks, ice creams, coffee, boil-in-bag pouches, and also in pharmaceuticals and cosmetics product packaging.
Revenue year-on-year growth of case & carton segment in the global packaging adhesives market is expected to increase moderately during the forecast period. This is owing to properties such as superior bonding, high-performance, fast-setting, water resistant, and high-tack adhesive. In addition, growth in carton recycling operations is a key factor propelling growth of case & carton segment of the target market, owing to factors such as strong support from carton manufactures and environment support groups.
Other packaging adhesives segment includes corrugated boxes sector. Corrugated boxes are lightweight and convenient to handle during packaging, loading, transporting, and unloading, which is estimated to support growth of others segment in near future.
Analysis by Region:
North America market is anticipated to grow at a steady growth rate, while demand for packaging adhesives in Europe region is foreseen to expand at moderate pace in near future. The market in developing countries in Africa and Asia Pacific is witnessing rapid growth for packaging adhesives market. The growth in Asia Pacific region is driven by increasing demand for packaging adhesives in countries such as India and China.
North America market is expected to dominate the global packaging adhesives market and revenue year on year growth of the North America market is expected to remain stable over the forecast period, as compared to that of markets in other regions. Dominance by North America market is expected to continue over the forecast period, owing to higher demand from consumers in countries such as the US and Canada. Other factors include presence of leading packaging adhesives manufacturers in these countries, and an increasing consumer base adopting packaging adhesives for a wide range of food & beverages products in countries in this region.
North America is projected to be a major consumer for water-based packaging adhesives over the forecast period owing to technological innovations in countries in this region. Innovation in technologies is also expected to enhance productivity of packing products. Major market players operating in countries in this region are also in the process of developing innovative production techniques by employing their R&D abilities and technical knowledge. These are some additional factors expected to drive packaging adhesives industry growth across North America region in near future.
Technological advancements in packaging adhesives, coupled with prominent manufacturers developing eco-friendly products that can be used with packaging adhesives are other factors expected to create opportunities for growth of the North America packaging adhesives market over the forecast period. Presence of prominent packaging adhesives manufacturing companies such as 3M, H.B. Fuller, The Dow Chemical Company, Huntsman International LLC, and others is another factor expected to aid in growth of the North America packaging adhesives market over the forecast period
In 2016, Asia Pacific accounted for the second largest revenue share contribution to the global packaging adhesives market and expected to register highest CAGR over the forecast period. Increasing popularity of e-commerce in developed, as well as emerging countries has given rise to various packaging products and overall packaging process including labelling, which is projected to drive the demand for packaging products in next ten years.
Market Segmentation of Global Packaging Adhesives Market:
Segmentation by technology:
- Hot Melt
Segmentation by application:
- Flexible Packaging
- Folding Carton
- Case & Carton
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- B. Fuller
- 3M Company
- Sika AG
- The DOW Chemical Company
- Bostik SA (Arkema Group)
- Henkel AG & Company, KGaA
- Royal Adhesives & Sealants
- Jowat SE
- Dymax Corporation
- Avery Dennison Corporation
- 1.0 Chapter 1
- 1.1 Preface
- 1.1.1 Assumptions
- 1.1.2 Abbreviations
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.1.2 Opportunity Map Analysis
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Technology
- 2.2.2 Market Snapshot, By Application
- 2.2.3 Market Snapshot, By Region
- 1.1 Preface
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