The rapid growth of packaging industries due to the increasing consumption of packaged food and beverages, rise in number of end-users due to increasing population, increase in disposable income in the middle-class population in developing economies are considered to be the some of the major factors driving the Global Label Adhesives Market. The recent surge in the investment for research and development by the prominent players to fulfill the demand for low volatile organic compound (VOC) content and eco-friendly and sustainable products is fueling the expansion of the Global Label Adhesives Market. Increase in usage of permanent label adhesives and shift in preference to hot-melt adhesives by end-users are encouraging the small players in the market, further boosting the growth of the Global Label Adhesives Market. Adoption of evolved technology and advanced chemistry to increase the product sustainability and strengthen the production capacity are acting as driving forces to the expansion of the Global Label Adhesives Market. The major shift of prominent players from the European region to developing economies of Asia-Pacific region such as India and China is causing the expanding of the Label Adhesives Market globally.
Fluctuation in the prices of raw materials, stringent environmental regulations for VOC content and high labor cost in developed regions are likely to hamper the expansion of the Global Label Adhesives Market.
The Global Label Adhesive Market has been segmented on the basis of Type, Technology and Substrate Type. On the basis of type, the market is segmented into permanent, removable, freezer, high temperature, and repositionable. Among these types, the permanent Label Adhesive segment is anticipated to dominate the Global Label Adhesive Market during the forecast period. On the basis of technology, the Global Label Adhesive Market is segmented into water-based, hot metal based, and solvent based. Among these, the Water-Based Label Adhesive segment is projected to grow faster due to its cost-effectiveness and low volatile organic compounds (VOC) content. On the basis of substrate type, the market is segmented into polyethylene terephthalate (PET), metal container and polyolefin bottle.
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Detailed Regional Analysis:
Based on Region, the Global Label Adhesive Market is segmented into Asia-Pacific, Europe, North America, Latin America, Middle East and Africa. Increase in population, improvement in the standard of living, large middle-class population and rise in disposable income has increased the use of packaged items from food and beverage industry and other retail products, inducing the demand for Label Adhesives in Asia-Pacific region. Accounting for 40% of market share by Asia-Pacific, this region is considered to be dominating the Global Label Adhesives Market. The major use of Label Adhesives in pharmaceutical and food & beverage industries is driving the Label Adhesive Market in the European region. Increasing use of packaged and canned food and rise in the prices of water-based adhesives in North America is leading to the significant growth of the Label Adhesive Market in this region. The Label Adhesive Market in Latin America is anticipated to expand in the forecast period owing to pacifying political and economic scenario. Whereas, the Middle East and Africa accounts for the least share of Global Label Adhesive Market but is anticipated to witness a noteworthy change in the coming years.
Application of science and technology to launch innovative products in the Global Label Adhesives Market is triggering competition among the players of this market. Strategic overseas expansion of the manufacturers and increase in adhesive prices are driving the growth of the Global Label Adhesive Market. In February 2018, H.B. Fuller Company (U.S.) announced a global increase in the prices for all adhesives product categories by 5% to 12%, by March 1 to April 1, 2018.
The leading players in the Global Label Adhesives 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.
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