Packaging Adhesives Market, By Technology (Water-based, Solvent-based, Hot Melt, and Others), By Application (Corrugated Packaging, Labeling, Flexible Packaging Case & Carton, Folding Cartons, Specialty Packaging, and Others), and By Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jan 2023

Code : CMI2194

Pages :127

Formats :

Excel and PDF

Industry : Bulk Chemicals

Market Challenges And Opportunities

Drivers

High demand for packaging in food applications:

Packaging adhesives have rising demand in the food industry. The types of packaging such as flexible, rigid and semi-rigid packaging can be extensively used in the food industry. Packaging plays a crucial role here in the packaging of frozen food, meat, poultry and seafood, ready meals, dairy products and many others. Adhesives are utilized to keep the packaging in a place and closed. They create a good bond between the two surfaces which helps in keeping the food fresh for a longer period of time. Thus, the surge in demand from the food industry is boosting the packaging adhesive market growth. According to the India Brand Equity Foundation (IBEF), the packaging industry in India is expected to reach US$ 204.81 billion by 2025, with food processing being the largest packaging consumer. With the growth in the food processing sector, the demand for packaging adhesives is expected to surge in near future.

Growth in the personal care and cosmetic industry:

Currently, the cosmetic and personal care industry is growing significantly with the consumer inclination toward self-care and a surge in disposable income. These products are mainly available in the health and beauty departments of drug and department stores. Major products such as shampoo, gels, deodorants and other make-up products are mainly identified due to their attractive packaging. Moreover, the availability of these products on e-commerce platform further demand packaging solutions. Thus, the growth in demand for packaging boosts the need for packaging adhesives. As per the Personal Care Association of Europe, in 2020, skincare products with a valuation of US$ 23.74 billion value, held the maximum share of the European cosmetics market in major countries like Germany, France, the U.K., Spain and Italy. Thus, the growth in the personal care and cosmetic industry driving the packaging adhesives market.

Market Restraints

Disadvantages associated with the use of packaging adhesives:

The demand for packaging adhesives is increasing with the surge in demand for flexible, rigid and semi-rigid packaging in a wide range of applications. The companies are also involved in the production of environmentally friendly adhesives. However, these adhesives are subjected to a few disadvantages which may impact their demand. Few types of adhesives stay on the surface of packaging and end up creating a bond line, reducing the aesthetic appeal of the product. The adhesive that bonds too quickly need to be applied correctly the first time otherwise hamper the look of the product packaging. The selection of suitable adhesives is important considering the weather condition. Thus, the aforementioned factors may hamper the market growth.