The global packaging adhesives market was valued at US$ 6.1 billion in 2017 and is anticipated to register a CAGR of 5.7% in terms of revenue, over the forecast period (2018 – 2026), to reach US$ 9.2 billion by 2026.

Growing demand for packaging is driving growth of the global adhesives market. According to a study by Coherent Market Insights, global industrial packaging market is estimated to reach US$ 97.2 billion by 2025.

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Growing e-commerce industry is propelling demand for packaging adhesives.  According to the United States Census Bureau, the e-commerce sales was reported at US$ 105,096 Mn out of US$ 1,274,565 Mn of total retail sales in the second quarter of 2017. In addition to this, the e-commerce sales increased from US$ 98,292 Mn in the first quarter of 2017 to US$ 105,096 Mn in the second quarter of 2017.

Demand for safe and regulatory compliant adhesives that do not affect food, make the food harmful or change nature, substance or quality of the food is growing rapidly. Increasing consumption of packaged and processed food is fuelling growth of the global packaging adhesives market. According to Coherent Market Insights’ study, the global frozen processed food market was valued at US$ 60.12 billion in 2016 and is anticipated to reach US$ 85.49 billion by 2025. However, adhesives used in food packaging are regulated by authorities such as EU and the U.S. Food and Drug Administration. For instance, Regulation (EC) No 1935/2004 regulates materials that come in contact with food.

Players operating in the global packaging adhesives market are adopting various growth strategies such as product development to cater to increasing demand for packaging adhesives. For instance, in July 2018, Brilliant polymers launched solvent-free adhesives for flexible packaging. In April 2018, Uflex launched 2K PU laminating adhesive for food packaging and general applications. In September 2015, Loctite Liofol LA 2760/LA 7371 and 2760/LA 5891-21 aliphatic adhesive system was launched by Henkel.

Major players operating in the global packaging adhesives market include, Henkel AG & Company, KGaA, 3M Company, Paramelt B.V., H.B. Fuller Company, Bostik SA, Avery Dennison Corporation, Sika AG, Wacker Chemie AG,       Ashland Inc., Dymax Corporation, DowDuPont Inc., and Huntsman Corporation.

Adhesives are used in packaging materials such as corrugated boards, cartons, winding of cardboard tubes, sealing of cases and bags, and adhesion of labels. Growing demand for adhesives from the packaging industry is driving growth of the global packaging adhesive market. According to the Fibre Box Association (FBA), corrugated packaging produced by average corrugator plant was 1,010 million square feet of combined board in 2016, compared to 968 million square feet in 2015 in North America. Increasing production of corrugated packaging is increasing demand for packaging adhesives which in turn is driving growth of this market.

Market Dynamics

By technology, water-based packaging adhesives are gaining traction in the market, owing to its low toxicity and low cost. Hot melt adhesives segment held significant market share in the global packaging adhesive market in 2017. This is attributed to advantages of hot melt adhesives such as adhesion by cooling and its ability of flowing into gaps and joining of ill-fitting surfaces.

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By region, Asia Pacific held largest market share in 2017 due to significant demand from China, India, South Korea, and Japan. Increasing demand for packaging materials from various industries such as automotive, electrical and chemical, and food and beverages in the region is aiding in growth of this market. According to India Brand Equity Foundation, Department of Commerce, Government of India, the food processing industry in India is projected to reach US$ 482 billion by 2020 from US$ 258 billion in 2015.

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