Industry News

Use of Adhesives in Food Packaging Drives PSA Market: Technavio

Published on 2016-08-12. Author : SpecialChem

Technavio’s market research analysts predict the global market for pressure-sensitive adhesives to grow at a CAGR of over 7% between 2016 and 2020. The increasing use of pressure-sensitive adhesives in food packaging is the primary driving force behind the growth of this market. Large volume growth is expected from the fish, meat, poultry, snacks, and pet food packaging sector as they are evolving at a fast pace in terms of their use of advanced flexible packaging products.

Use of Adhesives in Food Packaging Drives PSA Market
Use of Adhesives in Food Packaging Drives PSA Market

Furthermore, flexible packaging formats such as microwavable pouches and peel-off lids augment convenience for disposal and consumption. During 2015, the global pressure-sensitive adhesives market was dominated by APAC with a market share of more than 52%. The growing demand from construction, packaging, furniture, automotive, and leather industries in this region will further fuel the growth of the pressure-sensitive adhesives market in APAC during the forecast period.

The new market research report from Technavio presents a breakdown and analysis of the pressure-sensitive adhesives segments based on the application.

“The demand for new end-user products is spurring product enhancements in the pressure-sensitive adhesives market. Newer products must not only be of superior quality but also be sustainable and cheaper. The growing demand for such packaging solutions from the consumer applications segment will elevate the consumption of pressure-sensitive adhesives during the forecast period. Advances in the market can be attributed to many changing trends, such as the increasing requirement for high-performance solutions that can be used in many applications,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.

By 2020, the packaging segment will account for around 34% of the overall market revenue to become the dominant shareholder in the global pressure-sensitive adhesive market. Pressure-sensitive adhesives offer better performance over other types of adhesives at lower costs in thepackaging industry. The demand for pressure-sensitive adhesives in the packaging industry is driven by its properties such as high heat and chemical resistance.

The key vendors in the global pressure-sensitive adhesives market include M, Arkema, H.B. Fuller, Henkel, and Sika. Vendors in the market are investing substantially in R&D to keep pace with the continuously changing market demands and to develop products that are compliant with the environmental and health regulations imposed by international and regional agencies, such as the EPA and REACH. In addition, they are adopting collaborations and agreements between the vendors as a strategy to enhance their market dominance. This strategy is mostly opted to reduce the distribution costs and also to establish their market presence.

About Technavio

Technavio is a leading market research company with global coverage. The company's research and analysis focuses on emerging market trends to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

Technavio models the market trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. Technavio's team of over 300 specialized analysts continuously monitors and evaluates the market landscape and builds forecasts across market segments and geographical regions based on the trends identified.

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Source: Technavio
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