The packaging adhesives market stood at $10,426.9 million in 2019, which is projected to reach $17,137.4 million by 2030, advancing at a 4.6% CAGR during the forecast period (2020–2030). This growth can be driven by factors, such as rising demand for adhesives in food & beverage packaging and increasing penetration of e-commerce worldwide. Besides, the latest trend of adopting biodegradable and recyclable packaging products is boosting the market growth.

Similarly, the packaging sector is shifting toward sustainable packaging materials. These adhesives offer sustainability, in addition to maintaining the freshness or shelf life of packaged food and beverages. Due to the increasing awareness among consumers regarding health, the packaging industry is applying water-based adhesives that are biodegradable and have less weight. Besides, engrossed lifestyle, growing awareness about nutrition, rising urban population, and increasing travel activities have boosted the demand for packaged healthy food, which, in, turn, increases the demand for packaging adhesives.

Categories under the resin type segment of the packaging adhesives market include acrylic, rubber, ethyl vinyl acetate (EVA), polyurethane (PU), polyamide (PA), and polyvinyl acetate (PVA). Of these, the acrylic category held the largest market share, in terms of volume, in 2019, due to its properties like chemical resistance and high-temperature resistance. Additionally, acrylic adhesives find wide application in cold storage for packaging of food and beverages, as they offer instant adhesions that facilitate production efficiency and exhibit moisture resistance.

Geographically, the Far East generated the highest revenue in the packaging adhesives market in 2019, due to wide-scale consumption of adhesives in China in industries like e-commerce, food & beverage, personal care, and consumer goods. Further, the region is projected to hold the largest market share, in terms of volume, during the forecast period. This can be ascribed to the growing e-commerce and consumer goods sectors in South Korea, Japan, and China. The e-commerce industry uses packaging adhesives for labeling that is used for product tracing, coupled with the application of tapes for efficient delivery of goods.  

With the increasing applications of packaging adhesives, adhesive producers are undertaking several strategies, such as geographical expansion and product launch, to cater to the surging demand. One of the leading players of the packaging adhesives market, Evonik Industries, in November 2019, announced its plan to expand its presence in Darmstadt, Germany, for heat sealing and organic dispersion applications. As for the product launch, the company offers packaging adhesives under its DEGALAN brand, to cater to the packaging industry.

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