Global Packaging Adhesives Market is estimated to be valued at US$ 7.57 Bn in 2021, according to the Global Packaging Adhesives Market Report, 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), published by Coherent Market Insights.
Global packaging adhesives market was valued at US$ 7.57 Bn in 2021. Packaging Adhesives Market is expected to register a CAGR of 6.04 % over the forecast period (2022–2030), to reach US$ 12.80 Bn by 2030.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/packaging-adhesives-market-2194
Key Trends and Analysis of the Global Packaging Adhesives Market:
- Water-based packaging adhesives segment held the highest market share in 2021 in the global packaging adhesives market. Water-based adhesives contains low Volatile Organic Compounds (VOCs) as compared to solvent-based adhesives. Volatile Organic Compounds (VOCs) are toxic to environment and health. Growing environment awareness and demand for environment-friendly adhesives is driving growth of the segment over the forecast period.
- Flexible packaging segment held a high market share in the global adhesive packaging market in 2021. Flexible packaging is gaining traction due to its advantages such as light weight and convenience in handling and storage, among others. Growing demand for flexible packaging is propelling growth of the global market as packaging adhesives such as polyurethane adhesives are used in flexible packaging. According to the Flexible Packaging Association, flexible packaging industry in the U.S. was valued at US$7.57 Bn in sales in 2021 and is witnessing rapid growth.
Key Takeaways of the Global Packaging Adhesives Market:
- Asia Pacific held a dominant market share of 46.20% in 2021 in the global packaging adhesives market. China accounted for the highest market share in Asia Pacific packaging adhesives market in 2021. Furthermore, China is estimated to retain its dominance during the forecast period.
- Growing e-commerce in Asia Pacific is driving growth of the packaging adhesives market in this region. According to the Associated Chambers of Commerce and Industry of India (ASSOCHAM), in 2020, around 69 million consumers in India purchased commodities online.
- Major players operating in the global packaging adhesives market include, Henkel AG & Company, KGaA, 3M Company, Paramelt B.V., H.B. Fuller Company, Bostik SA, Avery Dennison Corporation, Sika AG, Wacker Chemie AG, Ashland Inc., Dymax Corporation, DowDuPont Inc., and Huntsman Corporation.
