Global Packaging Adhesives Market was valued at USD 11.68 billion in 2018 which is expected to reach USD 148 billion by 2027 at a CAGR 5.6%.
Packaging adhesives are manufactured with the help of various technologies such as solvent-based, water-based, hot melt, and others. They are widely used in various applications like Folding Cartons, Labeling, Boxes & Cases, Flexible Packaging, and Others. Rise in awareness regarding among the people and eco-friendly nature of packaging adhesives will increase the demand for packaging adhesives across the globe.
The demand for ecological packaging, fabricated from jute, paper, cloth, and even plants, is growing around the world. Plastic is also used increasingly for packaging due to its advanced visual appeal for customer pull and ease. The progress in consumption and lifestyle patterns has improved the demand for the packaged products resulting in the development of the packaging industry. In the previous few years, the packaging industry has enjoyed stable growth motivated by changes in the choice of substrates, development of novel markets, and altering ownership undercurrents. The augmented use of plastics to swap other substrates and adjust to the consumers’ demand for handiness, the economic resurgence in China and other developing regions, better industry consolidation and rising private-equity ownership are the notable factors motivating the industry.
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Increase in awareness regarding food safety among the consumer is the key driving factor which is expected to propel the global packaging adhesives market growth. Furthermore, increase in demand from food & beverages industry due to growing population, rise in disposable income, and changing dietary requirements will have the positive impact on global packaging adhesives market growth. Moreover, increase in demand for flexible packaging in food and beverage industry is expected to drive the global packaging adhesives market growth during this forecast period. In addition to that, innovative and advanced processing methods developed for increase in shelf life of food product is boosting the packaged food industry growth, which is expected to increase the demand for packaging adhesives in the market.
However, Government rules and regulations and restriction on use of some raw materials are the challenging factors for growth of market which are expected to hamper the global packaging adhesives market.
Global Packaging Adhesives Market is segmented into technology such as Solvent-Based, Water-Based, Hot Melt, and Others. Further, Global Packaging Adhesives Market is segmented into application such as Folding Cartons, Labeling, Boxes & Cases, Flexible Packaging, and Others.
Also, Global Packaging Adhesives Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Global Packaging Adhesives Market Research report offers a close watch on leading competitors with strategic analysis, pricing analysis, and holistic overview of the market situations in the forecast period. Further, Key operating players with their profiles are discussed in the report. Also, the subsidiaries & other associated companies are discussed with collaboration, partnerships, agreements, mergers & acquisitions. The processes, annual margins, and other business methodologies followed by these prominent players have been elaborated to elucidate readers on their progress & their current standing in the market.
Market Key Players
The report includesa detailed analysis of substantial factors that impact the Packaging Adhesives Market significantly. The report accuratelyexplains the factors that are driving, restraining, and challenging the Packaging Adhesives Market growth over the assessment period. It also includes the changing aspects that are expected to create likely opportunities for market players to reach a comprehensive understanding of the market.
Various key players are discussed in this report such as DYMAX, Ashland, Wacker Chemie AG, SIKA, Jowat AG, Paramelt B.V., Bostik, Avery Dennison, HB Fuller, 3M,and Henkel
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