The packaging adhesives industry is projected to rise in the coming years, and it is projected to contribute $17,137.4 million in 2030.
The far east region is projected to experience the fastest growth in the industry in the near future, led by the manufacturing sector growth in the region. The manufacturing sector contributes to the massive flexible packaging materials demand.
In addition, the increasing demand for fast-moving consumer goods is predicted to boost the industry growth in the region. Sustainable adhesives are massively used in the packaging adhesives industry.
The technological innovations in the industry have resulted in water-based adhesives development, that is biodegradable and lightweight. In addition, water-based adhesives do not contain volatile organic compounds, that may cause various diseases, such as cancer.
The expansion of the food & beverage sector contributes to the rising health awareness, which, results in fresh products, as well as product demand with longer shelf life. Moreover, the busy lifestyles, vast urban population, and increasing travel activities will result in fulfilling the healthy, and packaged food demand in the near future.
The massive e-commerce industry growth in Japan and China, ascribed to the direct product delivery convenience at homes, resulted in boosting the demand for such materials in the region. The demand for corrugated boxes and cartons among e-commerce companies is projected to rise in the packaging adhesives industry in the Far East.
The major packaging adhesives in the industry are HB Fuller Company, Avery Dennison Corporation, Henkel AG & Co. KGaA, Dow Inc., and The 3M Company.
Several adhesives manufacturing companies operating in the industry have taken some strategic measures, such as geographical expansions, and product launches to enhance their position in the industry.
Therefore, the expansion of the food & beverage industry application propels the consumption of packaging adhesives.