Label Adhesives Market Overview to 2023
The Global Label Adhesive Market is segmented on the basis of product type, technology, substrate type, and region. On the basis of type, the market is divided into permanent, removable, freezer, high temperature, and repositionable. The Permanent Label Adhesive holds a major share of the market due to its major contribution to the packaging of food and consumer goods packaging, along with pharmaceuticals. Apart from this, type of Label Adhesive also helps in branding elements through their aesthetic characteristics. Freezer label adhesive is another important segment, which is growing at a significant CAGR owing to increasing use of food items, which are cold preserved after packaging and labelling.
The Global Label Market, wherein label adhesive is a major component, will constantly move ahead at a CAGR of 5.4% to reach nearly USD 52 billion by the end of 2023.
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Key players operating in the Global Label Adhesive Market are Akzo Nobel N.V. (Netherlands), ITL Apparel Label Solution (U.K.), Henkel AG & Co. KGaA (Germany), 3M (U.S.), BOSTIK S.A (France), H.B Fuller (U.S.), Avery Dennison (U.S.), The Dow Chemical Company (U.S.), PPG Industries, Inc. (U.S.), Ashland Global Holdings Inc. (U.S.), and Lintec Corporation (Japan), among others.
Based on technology the market is segmented into water based, hot metal based, and solvent based. Among these technologies, water-based technology is growing at the highest CAGR on account of its distinct properties such as low VOC content, and lower cost as compared to other technologies. Moreover, the water based Label Adhesives can withstand a wide temperature range to propel the demand for the product in the coming years.
On the basis of substrate type, the Global Label Adhesive Market is market is divided into polyethylene terephthalate (PET), metal container, and polyolefin bottle. The use of PET bottles and metal container is growing as result of its harmless nature, recyclability, and inertness towards the product it contain, which, in turn, is projected to boost demand for Label Adhesives in these segments.
Regionally, the Global Label Adhesive Market is segmented into five key regions: Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. Among these regions, Asia Pacific is growing at the highest CAGR, and holding more than 40% share of the Global Label Adhesive Market. The growth of the market in this region is mainly driven by the increasing use of packaged items starting from food & beverages to other retail consumer product. Europe is the second most substantial label adhesive market across the globe, wherein demand for the product is primarily fueled by the increasing demand from a major end use industries such as food & beverages, and pharmaceuticals.
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North America is another significant region in the Global Label Adhesive Market after Europe. This is attributed to the increasing use of packaged and canned food products. Other regions in the global Label Adhesive Market are the Middle East & Africa and Latin America. Among them, the market for Label Adhesive in Latin America is estimated to grow at a considerable CAGR owing to pacifying economic and political scenario. The Middle East & Africa hold a least share of the global label adhesive market, which is expected to witness a significant changes in coming years.
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