The packaging adhesives market exhibits good growth potential and is projected to reach a market size of USD 18.6 billion by 2028 from USD 15.3 billion in 2022, at a CAGR of 3.2%. Polyvinyl acetate (PVA) resin accounted for a largest share of the overall packaging adhesives market, in terms of value, in 2022. PVA is a synthetic polymer that provides excellent adhesive properties. PVA-based adhesives offer good bonding strength, flexibility, and adhesion to a variety of packaging materials, including paper, cardboard, and some plastics. It functions well on porous materials, such as wood, paper, cardboard, and leather. PVA-based packaging adhesives are widely used due to their versatility, non-toxic nature, fast drying time, good adhesion, and ease of use. They provide reliable bonding for a range of packaging materials and are a cost-effective option for many packaging applications.
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In terms of value, the market for water-based technology segment share was 45.6% of the overall market size, in 2022. Water-based packaging adhesives have gained popularity due to their numerous advantages over other adhesive formulations. Due to rising demand from the packaging industry for food packaging, consumer goods packaging, industrial goods packaging, water-based technology segment is the largest market in packaging adhesives market. The production of water-based technology is becoming more popular among packaging adhesive manufacturers as a result of growing environmental concerns and stricter VOC standards. This has increased demand for water-based packaging adhesives.
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The corrugated packaging is the largest application segment of packaging adhesives. This segment is expected to dominate the overall packaging adhesives market owing to the rising demand for packaged food products. Unlike cardboard, which only has a single sheet, corrugated cartons are constructed from several layers of material. The interior liner, outside liner, and fluted medium that sits in between the two are the three layers of corrugated that make up a corrugated box. The increasing demand for packaging industry offers opportunities for the corrugated packaging in the packaging adhesives market. These factors are expected to drive the demand for packaging adhesives.
Asia Pacific is the second fastest-growing packaging adhesives markets. This growth is attributed to the high demand from rising e-commerce industry, and packaging industry. The market has been expanding due to the rising consumption of packaged goods, growth in e-commerce, increased manufacturing activities, and the need for innovative and sustainable packaging solutions. The growing population, rising disposable incomes, and changing lifestyles in the region have led to increased demand for packaged food, beverages, personal care products, and other consumer goods, driving the need for packaging adhesives.
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