The global packaging adhesives market is currently witnessing a healthy growth. Packaging adhesives refer to the sticking agents that are used for binding together two or more pieces of packaging materials. Some of the common types of packaging adhesives include solvent-based, water-based and hot-melt adhesives. Water-based adhesives are used for porous or non-porous substrates, such as starch, dextrin and polyvinyl alcohol (PVA), while solvent-based adhesives are used for plastic applications. Hot-melt adhesives, or hot glue, are thermoplastic-based adhesives that turn to liquid upon heating. They are primarily used for packaging cases, cartons and flexible packaging. These adhesives are manufactured using both natural and synthetic polymers, such as polychloroprene, polyvinyl acetate, polyurethane and polyvinyl pyrrolidone.
Significant growth in the food and beverages (F&B) industry is one of the key factors driving the growth of the market. In the F&B industry, packaging adhesives are widely used for rigid food boxes and for sealing paper cartons and cases to store various food and beverages. Furthermore, packaging adhesives find extensive application in the pharmaceutical industry to seal medical equipment for maintaining the sterility of the products and protect the medicines from bacterial contamination. Additionally, the development of advanced water-based transparent adhesives that are used for sticking colored and clear labels on various products is creating a positive impact on the market growth. Other factors, including an increasing consumer preference for sustainable compounds in packing adhesives that can be used on recyclable products, along with extensive research and development (R&D) activities to improve the durability and versatility of the adhesives, are projected to drive the market further. Looking forward, IMARC Group expects the market to exhibit a CAGR of around 5% during 2020-2025.
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The competitive landscape of the industry has also been examined with some of the key players being 3M Company, Arkema, Ashland Global, Avery Dennison Corporation, Dymax Corporation, H.B. Fuller, Henkel AG & Co. KGaA, Jowat SE, Paramelt B.V., Sika AG, The DOW Chemical Company, Wacker Chemie AG, etc.
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