Growing at a CAGR of 6.33% in 2022 – 2028, global packaging market drives the demand for polyurethane adhesives with the growing e-commerce especially in Asia-pacific region

Hyderabad, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The demand for packaging has fast risen in the last decade with the explosion in e-commerce sales. The COVID-19 has further boosted the demand for packaging, as home isolation warranted delivering essentials like groceries and cooked food to the user. The demand for packaging sustained after the COVID-19 pandemic due to the ease of shopping and establishment of new supply chains to meet excess demand, especially in countries like China and India. The packaging polyurethane adhesives market is expected to grow at a CAGR of 6.38% in terms of value during the period 2022-2028. 

In 2022, Asia-pacific was the largest market and accounted for 46.4% of the global polyurethane adhesives market in terms of volume. China, The United States, India, Germany, Brazil and Japan constitute the largest polyurethane adhesives market. The increasing building and construction industry in these countries is also propelling the growth of this market. The weather resistance and flexibility offered by polyurethane adhesives made them popular in building and construction applications. 

In the near future, the usage of hot melt polyurethane adhesives is expected to grow higher than other technologies due to their high efficiency and fast curing times in packaging, healthcare and other applications. The absence of volatile organic compounds (VOC) in hot melt adhesives is a major factor in their fast adoption. These adhesives further help in speeding up the process of bonding in packaging applications as they take little time to cure and are easy to apply.

Polyurethane adhesives have been crucial in increasing the packaging efficiency in e-commerce applications. E-commerce firms are able to fast secure the packages in their conveyor belts with the usage of polyurethane hot melt adhesives. They have vastly reduced the dependency on manual labour and most e-commerce firms are able to wholly automate the packaging process with the help of these adhesives. 

Mergers and Acquisitions have been the go-to strategy for past few years for major players. The global players have increased the market share by acquisition of local players. Product innovation is another strategy for companies to acquire market share. For example, H.B fuller introduced cold-resistant adhesives under Advantra brand. Mapei and Henkel have also launched innovative products.