TAGS: Waterborne Adhesives
Research and Markets (RM) anticipates that the packaging adhesive market size is projected to reach USD 18.6 billion by 2028 at a CAGR of 3.2% from USD 15.3 billion in 2022. The PVA, by resin segment is estimated to account for the largest share of the packaging adhesives market in 2022. The packaging adhesive market is projected to register a CAGR of 3.2% between 2023 and 2028, in terms of value.
Polyvinyl Acetate Accounted for Largest Share
PVA is a synthetic polymer with superior adhesive capabilities. PVA-based adhesives are effective at adhering to a range of packaging materials, including paper, cardboard, and some plastics, while also providing good bonding strength, flexibility, and adherence. It works nicely with porous materials including leather, paper, cardboard, and wood.
Due to its adaptability, non-toxic makeup, quick drying time, strong adhesion, and simplicity of use, PVA-based packaging adhesives are frequently utilised. They are an affordable solution for many packaging applications and offer dependable bonding for a variety of packaging materials.
Water-based Technology: Fastest Growing Segment
Due to their many advantages over alternative adhesive formulations, water-based packaging adhesives have grown in popularity.
Water-based technology is gaining popularity among makers of packaging adhesives as a result of increased environmental concerns and stricter VOC regulations, which are driving up demand from the packaging sector for food packaging, consumer goods packaging, and industrial goods packaging. The need for water-based packing adhesives has gone up as a result.
The majority of packaging adhesives are used in corrugated packaging. Because there is a growing demand for packaged food goods, this category is anticipated to dominate the entire packaging adhesives market.
Corrugated cartons are built from numerous layers of materials as opposed to cardboard, which simply contains a single sheet. A corrugated box is made up of three layers of corrugated: an interior liner, an outside liner, and a fluted medium sandwiched between the two. Corrugated packaging has prospects as a result of the rising need for packaging adhesives.
Highest Growth in Asia Pacific Region
High demand from the expanding packaging and e-commerce industries is credited with driving the expansion. The market has been growing as a result of increased packaged products consumption, online shopping, expanded manufacturing, and the demand for creative and environmentally friendly packaging.
The need for packaged food, beverages, personal care items, and other consumer goods has increased due to the region's expanding population, rising disposable income, and changing lifestyle, which has raised the demand for packaging adhesives.
Source: Research and Markets