New York City, NY: Jun 19, 2019 – Published via (Wired Release) – Packaging adhesives are used to bond desired combination of materials with each other, and are used as raw material in the packaging industry. Increasing usage of packaging adhesives in various applications such as folding cartons, case & cartons, transportation, food & beverages, and labelling in various countries globally is a major factor driving growth of the global packaging adhesives market.
The first five-year cumulative revenue (2017–2021) is projected to be US$ 40,237.5 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period. The global packaging adhesives market is estimated to value US$ 7,263.4 million in 2017 and is projected to register a CAGR of over 5% in terms of value during the forecast period 2017–2026.
Major factors driving growth of the global packaging adhesives market are increasing demand for packaging adhesives from food & beverages industry, owing to increasing demand for packing food & beverages products. Increasing awareness amongst consumer regarding use of eco-friendly packaging products is expected to drive demand for the global packaging adhesives market.
Rising demand for use of eco-friendly compounds in packaging adhesives, owing to stringent government regulations increases manufacturing cost, which is expected to hamper growth of the market. In addition, strict government norms regarding environmental safety lays emphasis on production of lower volatile organic compounds (VOC), which is expected to affect growth of the global packaging adhesives market adversely.
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Global Packaging Adhesives Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global packaging adhesives market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global packaging adhesives market is expected to expand at a moderate CAGR of 5.4% during the forecast period.
Global Packaging Adhesives Market: Segmental Snapshot
The market report has been segmented on the basis of technology, application, and region. The technology segment includes water-based, solvent-based, hot melt, and others. The application segment includes flexible packaging, folding carton, case & carton, labeling, and others. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By technology: Water-based segment is estimated to register a CAGR of over 5.7%, thereby accounting for highest revenue share among the technology segments.
By application: Flexible packaging segment is estimated to account for highest revenue share among the application segments, registering a CAGR of over 5.8% over the forecast period.
By region: The market in North America accounted for highest revenue share in the global packaging adhesives market in 2016, and is expected to record CAGR of over 5.5% between 2017 and 2026.
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Global Packaging Adhesives Market: Competitive Analysis
The research report on the global packaging adhesives market includes profiles of major companies such as 3M Company, H.B. Fuller, The Dow Chemical Company, Henkel AG & Co. KGaA, Arkema, Huntsman Corporation, Avery Dennison Corporation, Jowat SE, Royal Adhesives & Sealants, and Sika AG.
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