According to the latest market research report “Packaging Adhesives Market: By Formulation (Water Based, Solvent- less, Solvent Based, Hot Melt Based) By Type (Acrylics, Polyurethane, Polyvinylidene Chloride, Others) By Application (Flexible Packaging, Rigid Packaging, Paper & board Packaging & Others)-Forecast (2017-2022)” published by IndustryARC, estimates the market to reach $12.30 billion by 2021.
Browse 24 Market Tables, 86 Figures spread through 153 slides and an in-depth TOC on “Global Packaging Adhesives Market (2017 – 2021)”
Growing usage of Packaging adhesives in paper & board packaging, flexible packaging and rigid packaging is all set to escalate the Packaging adhesives market. EU’s economy is largely influenced by the dynamics of developed countries of Western Europe, however, the scenario is changing with increasing investments in Eastern Europe. Packaging adhesives have been extensively used in paper & board packaging applications over the past few years across the globe. Amongst the various applications served by paper & board packaging as well as flexible packaging, it finds its use majorly in food and beverage industry. Although food and beverage industry holds a major share in flexible packaging segment, Packaging adhesives are also used in packaging of pharmaceuticals and production of medical bandages.
Based on type of formulation that Packaging adhesives available commercially, the Packaging adhesives market is segmented into water-base, solvent-base, and solvent-less, hot melt based and others. Water based systems are majorly consumed Packaging adhesive system owing to the higher application in flexible packaging. Furthermore, water based systems also deliver excellent clarity to packages, adhesion to wide range of substrates, enhanced heat and chemical performance. The key segmentations for Packaging adhesives market include formulation, type, application and by geography.
Escalating application of packaging adhesives in paper & board packaging as well flexible packaging coupled with rapidly expanding market of food & beverages and pharmaceutical industries in emerging countries is anticipated to propel the demand for Packaging adhesives
The market is forecast to reach $14627.20 million till 2021 growing at a CAGR of 5.9% between 2017 to 2021. Solvent based systems are a course of potentially hazardous emissions called VOCs which react with oxygen and damage the ozone layer. The prevailing environmental concerns are propelling a switch from solvent-based to water-based coatings. Solvent based coatings are less susceptible to environmental conditions such as temperature and humidity during the curing phase. Radiation curable adhesives systems are other type of formulation which are on its developing stage and can replace water-based systems in nearby future owing to high performance properties. Escalating demand for automotive & construction is propelling the growth of industrial coatings in various geographies.
The market of Packaging adhesives has been segmented into Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, Europe is the prominent region for Packaging adhesives market and is estimated to grow with CAGR of 5.4% during the forecast period. The growth in Europe is attributed to the increasing automotive and constructional activities. However, considerable Packaging adhesives demand in Americas along with APAC countries is likely to boost the overall market.
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The Prominent Players in this Market Include
Packaging adhesive companies through its broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the Packaging adhesives market. Acquisition of Bostik by Arkema had strengthened Arkema in adhesives sales segment and Arkema declared Bostik as their adhesives brand. Dow chemical company, by introducing new water based adhesives systems into the market thereby trying to take advantage of strongly growing flexible packaging industry. With various product launches, mergers, acquisitions, collaborations and other strategies, these companies are obtaining Packaging adhesives market shares in the industry.
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