Packaging Adhesives Market Size, Share, Demand, Growth, and Forecast 2030


Posted November 30, 2020 by ManishBaghel

The packaging adhesives market to experience a 4.6% CAGR between 2020 and 2030 (forecast period), to touch $17,137.4 million value by 2030, from $10,426.9 million in 2019.
 
In any industry, packaging plays a dual role: one, it makes the product look better, so it attracts a higher customer interest, and two, it protects it from damage, especially when long-distance transportation is required. This is why the global packaging sector has grown by leaps and bounds in the last 10–15 years. With increasing competition, companies across industries are using attractive packaging as an effective marketing strategy.

This is why P&S Intelligence expects the packaging adhesives market to experience a 4.6% CAGR between 2020 and 2030 (forecast period), to touch $17,137.4 million value by 2030, from $10,426.9 million in 2019. Adhesives are an important material in the packaging sector, as they help the packaging material stick together. This is necessary to stop the product inside from coming into contact with the environment outside, from where it could acquire unpleasant aromas or moisture.

One of the biggest reasons behind the increasing demand for packaging materials, including different types of adhesives, is the growth in the worldwide e-commerce sector. In recent years, the penetration of the internet and smartphones has increased massively all across the globe, especially in developing countries. This has led to the proliferation of online shopping portals, such as amazon.com, eBay.com, flipkart.com, and Alibaba.com, which offer substantial discounts on products and home delivery, among other conveniences.

Many times, the e-commerce warehouses, or fulfillment centers, are located hundreds of miles from the customer, thereby creating the need for long-distance transportation, involving trucks, ships, trains, or aircraft. The roads, air travel, and seas can be rough and bumpy, which is why the packaging must hold and not disintegrate; otherwise, the product could suffer substantial damages. If this happens, the e-commerce company might have to ship it again, which can escalate operational costs by up to three times. This is why online shopping portals are using strong adhesives, thereby driving the market.

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On the basis of resin type, the categories of the packaging adhesives market are rubber, acrylic, polyurethane (PU), ethyl vinyl acetate (EVA), polyvinyl acetate (PVA), polyamide (PA), and others. Among these, acrylic is the most popular adhesive resin, as it offers high sheer, peel, and tensile strength and appreciable impact and shock resistance. Moreover, acrylic adhesives set at room temperatures, thereby eliminating the requirement for a separate curing system, which boosts production efficiency and reduces operational costs.

Regardless of the resin, packaging adhesives can be solid-based, solvent-based, water-based, and various other formulations. Till now, end users have majorly preferred water-based formulations, as they are harmless to the environment and people. Contrarily, solvent-based formulations consist of volatile organic compounds (VOCs), which can have detrimental effects on the throat, nose, eyes, central nervous system, kidneys, and liver. Certain VOCs can also cause nausea, headache, coordination problems, and even cancer!

In 2019, the Far East region dominated the packaging adhesives market, on account of the expanding consumer goods, food & beverage, e-commerce, and personal care industries in China, which is creating a high demand for all kinds of packaging materials. In addition, here, as well as in Japan, the e-commerce sector is growing rapidly, as people are getting drawn to the discounts, home delivery, and other facilities offered by online shopping portals.

Thus, with the growth in the online shopping trend and intense competition in all industries, the demand for adhesives for packaging purposes will continue to surge.
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Issued By Manish Kumar
Business Address Noida
Country India
Categories Business
Tags packaging adhesives market , packaging adhesives market demand , packaging adhesives market future , packaging adhesives market growth , packaging adhesives market scope , packaging adhesives market share , packaging adhesives market size , packaging adhesives market trends
Last Updated November 30, 2020