Packaging Adhesives Market Size, Share, Demand, Growth, and Forecast Report 2030
This expansion of the e-commerce industry is also driving the
growth of the packaging industry. Owing to all these factors, the global
packaging adhesives market is projected to grow at a significant pace
in the coming years. These adhesives are an important part of the
packaging industry, and hence, the growth of the industry is bound to
lead to their high demand. Packaging adhesives provide the needed
strength and resilience to packaging materials so that the inside
product can remain safe from any kind of harm.
Currently,
the demand for sustainable packaging adhesives has also been growing
across the globe. As customers are getting aware regarding the harmful
effects of traditional adhesives, they are widely demanding alternate
products that won’t cause harm to the environment. Conventional
packaging adhesives have had certain recycling issues in the past, such
as high product time. However, now innovative products, such as
water-based adhesives that are biodegradable and light in weight, have
been developed.
In 2030, the global packaging adhesives market
is predicted to generate a revenue of $17,137.4 million, increasing
from $10,426.9 million in 2019. The market is further expected to
register a 4.6% CAGR during the forecast period (2020–2030). When resin
type is taken into consideration, the market is categorized into
polyvinyl acetate, acrylic, polyamide, polyurethane (PU), ethyl vinyl
acetate, and rubber. Out of these, the acrylic category held the largest
share of the market in 2019.
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These
adhesives provide a number of advantages, including high shear and peel
strength, tensile strength and high impact and shock resistance, which
is why they are extensively deployed for a number of applications in the
packaging industry. In addition to this, acrylic adhesives can be cured
at room temperature, owing to which, production efficiency is
increased. The PU category is expected to register the highest CAGR
during the forecast period. Geographically, the Far East region
dominated the packaging adhesives market in 2019.
The
high-volume consumption of these adhesives in industries such as
personal care, food & beverage, and e-commerce is driving growth of
the regional domain. Packaging adhesives are majorly being consumed
China and Japan, where the e-commerce industry has registered
substantial growth. As the preference for online shopping increase, the
requirement for cartons and corrugated boxes for delivering products
will increase as well. This, in turn, will drive the demand for packaging adhesives. The region is further predicted to register the fastest growth during the forecast period, owing to such factors.
