6% growth seen for packaging adhesives market to 2019

GROWING competition has made product differentiation essential to a companies' success in the market, Technavio notes in its latest market research report on the global packaging adhesives market, which is expected to grow at a CAGR of almost 6% from 2015-2019.

 

The shift from conventional petroleum-based adhesives to bio-based adhesives that use eco-friendly ingredients has led to a need for new bonding agents and new processes for material assembly, which adds to R&D costs. 

 

“The changing dynamics of the packaging industry, such as consumers' increased exposure to fast-moving consumer goods and desire for more convenient packaging, has created a demand for innovative bonding agents. This has significantly increased product innovation and R&D,” says Faisal Ghaus, vice president of Technavio.

 

The new Technavio report covers the present scenario and the growth prospects of the global packaging adhesives market from 2015-2019. To calculate the market size, Technavio uses the revenue generated from the sale of various types of packaging adhesives. Among the key vendors covered in the report are 3M Co., Avery Dennison Corp., Bostik SA and HB Fuller Co.

 

The report also emphasizes the growing popularity of pressure sensitive adhesives. Their advantage lies in the fact that these adhesives work on the principle of polar attraction and do not require either chemical or mechanical triggers, thus saving time and labor costs.