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Packaging Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 155 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4997448
The packaging adhesives market was valued at USD 16,560.21 million in 2021, and it is projected to register a CAGR of 5.63% during the forecast period (2022-2027).

Key Highlights

  • The factors driving the growth of the market studied are the growing demand from the food and beverage industry and increasing awareness about food safety​ and avoiding risks of contamination.
  • On the flip side, the impact of regulations on various raw materials to be used for manufacturing adhesives may hinder the growth of the market studied.
  • However, the rapid growth in e-commerce will further provide opportunities for the market to grow.
  • Asia-Pacific accounted for the highest share of the market, and it is likely to continue dominating the market during the forecast period.

Key Market Trends


Flexible Packaging Application to Witness the Highest Growth Rate

  • Flexible packaging is growing at an impressive rate, driven by consumer preferences shifting toward new attractive packages, ease of use, sustainability, and conscientious environmental ideals.
  • Laminating adhesives for flexible packaging are available in a variety of technologies, viscosities, and solids concentrations. There are four basic categories of laminating adhesives that are commonly used. These are waterborne, solvent-based, reactive 100% solid (solventless) liquid, and hot melt.
  • Solvent-based adhesives used in flexible packaging are generally two-component polyurethane laminating adhesives. These are designed for use in the dry lamination process.
  • Additionally, flexible packaging is also the biggest application type for VAE adhesives. Another large category is laminating applications due to their flexibility, moisture resistance, and superior substrate adhesion.
  • With the growing population in countries such as the United States, China, and India, the requirement for food is increasing, thus resulting in increased demand for flexible packaging worldwide.​
  • According to the Flexible Packaging Association (FPA), the total US flexible packaging industry registered more than USD 35.6 billion in annual sales by the end of 2020. The flexible packaging industry includes packaging for retail and institutional food and non-food, medical and pharmaceutical, industrial materials, and retail shopping bags, among others. The US food industry is the largest segment for flexible packaging.​
  • Furthermore, packaging adhesives are also used in lidding films, which are a type of flexible packaging film commonly made by using foils, paper, polyester, polyethylene, and others generally used to seal paperboard pints, plastic containers, and trays for food items, including dairy products such as cottage cheese, sour cream, and others.
  • According to Statista, the food industry worldwide is estimated to generate a revenue of USD 8.8 trillion in 2022. The market is expected to register a CAGR of 4.79% during 2022-2027 annually.
  • Hence, owing to the above-mentioned factors, waterborne adhesive technology is expected to witness the highest growth rate during the forecast period.


Asia-Pacific to Dominate the Market

  • Asia-Pacific accounts for the highest share of the packaging adhesives market currently, owing to the high demand from countries like China, Japan, India, etc.
  • China is the leading country in the consumption of packaging adhesives due to growing per capita income, coupled with rising e-commerce giants in the country. ​
  • According to the National Bureau of Statistics of China, the total retail sales revenue of consumer goods accounted for CNY 39,198.07 billion in 2020, which rose to CNY 44,082.34 billion in 2021, thereby enhancing the consumption of adhesives from consumer goods packaging and shipping activities.
  • Additionally, China has one of the largest food industries globally. The country is expected to witness consistent growth during the forecast period due to the rise of customized packaging in the food segment, like microwave food, snack foods, frozen foods, and increasing exports. The use of packaging adhesives is expected to increase in the future. ​​
  • Furthermore, In India, the food industry is among the largest consumers of packaging adhesives. Some key end-user sectors of packaging adhesives include pharmaceuticals, personal care products, consumer electronics, etc. Increasing demand from these end-user segments is creating a huge potential for the market’s growth.​
  • In India, the packaging industry is also increasing at a rapid rate. It is the fifth-largest sector in India’s economy and is currently one of the fastest and highest-growing sectors in the country. Amid the e-commerce surge, the Indian packaging industry is witnessing steep growth and is one of the strongest growing segments.
  • According to the Indian Institute of Packaging (IIP), packaging consumption in India increased by 200% in the past decade, from 4.3 kgs per person per annum (pppa) to 8.6 kgs pppa.​
  • Hence, owing to the above-mentioned factors, Asia-Pacific is likely to dominate the market studied during the forecast period.


Competitive Landscape


The packaging adhesives market is fragmented in nature, as no major company holds a significant share in the global market. The global companies are significantly focusing on R&D and collaborations to develop new technologies to maintain their market presence and foothold. Some of the key players in the market include Henkel AG & Co. KGaA, H.B. Fuller, Dow, Arkema (Bostik), and Avery Dennison Corporation.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from the Food and Beverage Industry
4.1.2 Increasing Awareness for Food Safety
4.2 Restraints
4.2.1 Strict Government Regulations?
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Technology
5.1.1 Water-based
5.1.2 Solvent-based
5.1.3 Hot-melt
5.2 Application
5.2.1 Flexible Packaging
5.2.2 Folding Boxes and Cartons
5.2.3 Sealing
5.2.4 Labels and Tapes
5.2.5 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN Countries
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Arkema Group (Bostik)
6.4.3 AVERY DENNISON CORPORATION
6.4.4 Ashland
6.4.5 Dow
6.4.6 Henkel AG & Co. KGaA
6.4.7 H.B. Fuller Company
6.4.8 Jowat SE
6.4.9 Paramelt RMC B.V.
6.4.10 Wacker Chemie AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rapid Growth of the E-commerce Industry

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 3M
  • Arkema Group (Bostik)
  • AVERY DENNISON CORPORATION
  • Ashland
  • Dow
  • Henkel AG & Co. KGaA
  • H.B. Fuller Company
  • Jowat SE
  • Paramelt RMC B.V.
  • Wacker Chemie AG

Methodology

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