Packaging adhesive market towards USD 23,000-mn by 2032

The global packaging adhesive market size is set for a journey towards USD 23,000-million by 2032. This growth, soaring from USD 12,540 million in 2022, signifies a CAGR of 6.3% between 2023 and 2032. A report by Towards Packaging.

17 Jan 2024 | By Abhay Avadhani

In 2021, HB Fuller introduced an adhesive which comes with two different curative options

With growing environmental concerns, there is a rising demand for eco-friendly packaging adhesives. This includes the adoption of water-based adhesives, which are considered more environmentally friendly than solvent-based alternatives.

The Asia Pacific region has emerged as a dominant force in the packaging adhesive market. In Asia, economic growth was approximately 3.5%. There is a surge in the demand for packaged goods, ranging from food and beverages to consumer products.

For instance, in November 2022, Bostik introduced two cutting-edge products for the Indian tape and label market.

The growth of the manufacturing sector in the Asia Pacific region further amplifies the demand for packaging materials and adhesives, given their integral role in securing and sealing diverse packaging formats.

In October 2021, Henkel launched a RE-product line to help promote a circular economy. A new variety of adhesives and varnishes allows for better packaging recycling.

Water-based adhesives emerge as frontrunners in the packaging adhesive market. They possess eco-friendly attributes, low volatile organic compound (VOC) emissions, and compliance with environmental regulations. These adhesives exhibit bonding capabilities across various substrates without compromising safety standards.

In February 2021, HB Fuller introduced a novel water-based glue for the paper straw business. The new Swift Tak 5730 adhesive will aid in producing consumer-safe, liquid-resistant paper straws.

By 2025, the market value of the global flexible packaging industry is expected to reach USD 278.9-billion. The flexible packaging market is anticipated to be driven by consumer demand for customer-friendly packaging and increased product protection.

In September 2023, Brilliant Polymers launched two new product lines developed by the firm at the 10th Specialty Films & Flexible Packaging Global Summit 2023. Major players in the industry include Henkel AG, KGaA, 3M Company, HB Fuller Company, and Bostik, Arkema Group, among others.

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