What are Major Factors Fueling Sales of Packaging Adhesives?

The rising usage of packaging adhesives for the packaging of food items and beverages is an important factor responsible for their growing demand across the globe. The increasing consumer awareness of food hygiene and safety and health is boosting the demand for fresh food items, which is, in turn, causing a sharp rise in the requirement of advanced food packaging materials. According to All4Pack Paris, the revenue generated from the sales of food packaging materials is predicted to increase from $273.9 billion to $356.7 billion from 2017 to 2023. 

 

Besides the aforementioned factors, the soaring urban population, increasing public awareness of nutrition and wellness, surging travel and tourism activities, and the growing adoption of busy lifestyles are also fueling the sales of packaged food products, which is, in turn, driving the demand for packaging adhesives all over the globe. The growing penetration of e-commerce and the subsequent surge in the popularity of online shopping is the other key factor contributing toward the mushrooming sales of packaging adhesives throughout the world.

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Thus, with the increasing consumer preference for packaged food products and online shopping, the global packaging adhesives market will grow, in valuation, from $10,426.9 million to $17,137.4 million from 2019 to 2030, demonstrating a CAGR of 4.6% between 2020 and 2030. Acrylic, polyurethane (PU), polyvinyl acetate (PVA), polyamide (PA), rubber, and ethyl vinyl acetate (EVA) are the most commonly used resins in these adhesives, out of which, the usage of the acrylic adhesives was found to be the highest in the past, primarily because of their high peel and shear strength, impact and shock resistance, and tensile strength.

Recent Strategic Developments of Packaging Adhesives Market Players

Several adhesives manufacturers serving the packaging sector have taken several strategic measures, such as product launches and geographical expansions, to improve their market position. For instance, in November 2019, Evonik Industries announced its plans of capacity expansion of its plant in Darmstadt, Germany, for organic dispersions and heat sealing applications. The company offers these products under the brand name DEGALAN, which majorly serves the food & beverage packaging industry.