The global packaging adhesives market was valued at US$ 6.1 Billion in 2017, according to Packaging Adhesives Market Report, by Technology (Water-based, Solvent-based, Hot Melt, and Others) and by Application (Corrugated Packaging, Labeling, Flexible Packaging Case & Carton, Folding Cartons, Specialty Packaging, and Others), by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights. The global packaging adhesives market is projected to reach US$ 9.2 Billion by 2026, exhibiting a CAGR of 5.7% during the forecast period.
Packaging adhesives are used in production and sealing of corrugated boxes and honeycomb packaging. According to Coherent Market Insights’ study, global honeycomb packaging market is expected to reach US$ 16.95 billion by 2025 from US$ 9.64 billion in 2016. In addition to this, according to the Fibre Box Association (FBA), corrugated industry shipments increased by 2.1% in 2016 from 2015 in North America. Increasing demand for corrugated and honeycomb packaging is driving growth of the global packaging adhesives market.
Players operating in the global packaging adhesives market are developing new technologies, which in turn is fuelling growth of the global packaging market. For instance, in 2015, Mondelez International and Battelle developed Low Tack Adhesive (LTA) for applications in dry goods such as cereals.
Government regulations on use of packaging adhesives in hindering growth of the global packaging adhesives market. For instance, 21CFR175.105 of the U.S. Food and Drug Administration regulates adhesives used for packaging and, transporting food.
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