- Flexible packaging will be fastest growing application of packaging adhesives.
- The growth of the food and beverages industry is driving the market.
- The North American and Asia-Pacific regions are the most active markets.
The global packaging adhesives market, along with its applications, has witnessed a good growth for the past few years and this growth is estimated to increase in the coming years. The properties such as tackiness, handling strength, curing conditions, peel stress, withstanding temperature range, and performance under various conditions will be the key influencing factors for the global packaging adhesives with an increased emphasis on its different applications.
Major share of total packaging adhesives market demand was consumed by the corrugated packaging in the packaging adhesives industry in 2013. Flexible packaging will be fastest growing applications of packaging adhesives. The drivers of the packaging adhesives industry are growing food & beverages industry, increasing consumer awareness of food safety, growing infrastructure in emerging countries such as China, India, and Brazil.
Currently, the North-America region is the largest consumer of packaging adhesives and Asia-Pacific region is estimated to grow at the highest CAGR. The countries such as China, Japan, and India is expected to lead the Asia-Pacific packaging adhesives market, with China having the largest share in the regional volumetric consumption of packaging adhesives. The market volume of packaging adhesives is comparatively low in the RoW region, but the estimated growth for the region is second highest after Asia-Pacific.
The North America and the Asia-Pacific regions are the most active markets in terms of strategic initiatives, owing to their market demands. The folding cartons end use application has led the rapid growth in the packaging adhesives market.
The significant packaging adhesives manufacturers include Henkel (Germany), HB Fuller (U.S.), Bostik (France), Paramelt (The Netherlands), Bostik (Europe), 3M (U.S.), Avery Dennison (U.S.), Jowat Corp (Germany), Sika (Switzerland), Wacker chemie (Germany), Ashland (U.S.), Dymax (U.S.) and other local players.