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| Packaging Adhesives Market |
Packaging adhesives are organic polymers that are used for binding packaging components together and sealing packages securely. They provide packaging materials with structural integrity and flexibility. Packaging adhesives also extend the shelf-life of packaged products by preventing moisture, oxygen, and other environmental contaminants from interacting with the contents. The increasing consumption of packaged convenience foods, beverages, pharmaceuticals and other products has augmented the need for efficient packaging adhesives.
The global
Packaging Adhesives Market is estimated to be valued at US$ 9.81 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Demand for sustainable and eco-friendly packaging solutions has been steadily
rising over the years. Many packaging adhesive producers are increasingly
focusing on developing bio-based and renewable resins made from plant or
agricultural feedstocks like corn, soybeans, sugarcane etc. These adhesives
offer comparable performance to traditional petroleum-based ones and are more
environment-friendly as they have lower carbon footprint. They also help companies
boost their sustainability credentials. Investments in R&D of biodegradable
and recyclable adhesive technologies will likely drive the growth of green
packaging adhesives.
Segment Analysis
The global packaging adhesives market can be segmented based on technology,
material, application, and region. Based on technology, water-based technology
dominates the market and accounts for around 45% share due to its low VOC
emissions and eco-friendly properties. Water-based adhesives find wide use in
packaging applications such as case & carton, as labels and films/foils
require low viscosity adhesives.
Key Takeaways
The global Packaging
Adhesives Market Growth is expected to witness high growth over the
forecast period. The global Packaging Adhesives Market is estimated to be
valued at US$ 9.81 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over
the forecast period 2024 to 2031.
The Asia Pacific region dominated the global market in 2020 and is expected to
continue its dominance over the forecast period. This can be attributed to high
usage of packaging adhesives in various end-use industries such as food &
beverages, healthcare, personal care & cosmetics, and others where
packaging plays a crucial role. Additionally, the presence of emerging economies
like China and India providing huge market opportunities in the region.
Key players operating in the packaging adhesives market are Solvay, Sakai
Chemical Industry, Quimicos Aragonesas, Jinyan Strontium Industry, Joyieng
Chemical, Hongkong XinRunDe Chemicals, Huaqi Fine Chemical, Barium &
Chemicals, American Elements, ABASSCO.
For more insights, read- https://www.newsstatix.com/packaging-adhesives-market-trends-size-and-share-analysis/
For more details on the report, Read- https://dailynewsmotion.weebly.com/report-blog/plant-based-meat-market-is-estimated-to-witness-high-growth-owing-to-opportunity
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