Multifunctional Label Adhesive Market Size, Share, Growth, and Industry Analysis by Type (Water-based Label Adhesive, Solvent-based Label Adhesive), by Application (Food & Beverages, Pharmaceuticals, Personal Care, Industrial Labels, Retailers and Supermarkets, Logistics, Others), Regional Insights, and Forecast To 2031

Updated On: 29 April 2024

Multifunctional Label Adhesive Market Report Overview

• 

• Request a Free Sample to learn more about this report

The global multifunctional label adhesive market size was USD 5861.9 million in 2022 and to touch USD 7851 million by 2031, exhibiting a CAGR of 3.3% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with multifunctional label adhesive market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Multifunctional Label Adhesive is an adhesive that can be used for a variation of purposes such as bonding and sticking. It is significant because it can be used for numerous uses, which protects time and money. Technological progressions in the adhesive industry that are causing in the development of innovative adhesive products. Increasing reputation of digital printing technology that offers high elasticity and modification ability to labels. Usage of adhesive label in the region has augmented due to cost efficiency, easy accessibility of raw materials and demand for product labelling. Development, rising inhabitants, rising disposable income, altering lifestyles, and rising consumption of packed products are projected to motivate the demand during the forecast period. Speedy technological improvements have led to the enlargement of extremely progressive equipment which is expensive to buy. Consumers are showing more interest in decomposable and eco-friendly materials. The use of bio degradable packaging material is also one of the chief developments in the market. Progress in demand for maintainable solutions globally has created a need for bio-based multifunctional label adhesive market. Packaging plays a vital role in the supply chain of sturdy consumer items. Rise in demand for goods and flexible packing industry provides ample opportunities. Due to cost operative and easy labelling need for product is growing. Product expansion activities by the major players and introduction of new products in order to appeal new clients are features expected to create new prospects over the forecast period. High investment by key payers for R&D activities and method towards growing the production ability is expected to upkeep the revenue power of the target market. Water-based label adhesive is a type of label adhesives that are made from water and binders. Solvents disappears leaving behind a strong bond between the combined surfaces. Solvent-based adhesives are known for high initial bond and outstanding adhesion to a varied range of materials including metals, plastics, rubber, wood, and mixtures. The solvent-based adhesive industry deals with the production and distribution of these adhesives and during the forecast period. Business performers can expect some development opportunities.  Major companies operating in the chemical & materials sector and has continued to hold its supremacy. Multifunctional label adhesives are used for the packaging of numerous products such as bottles, folding boxes, and others. 

COVID-19 Impact:  Pandemic hampered the market due to unexpected disruption in the sector

COVID 19 pandemic has tremendously affected the entire world. The pandemic has led to significant changes in consumer behaviour, with more individuals spending online and selecting health and safety. Due to outbreak of COVID- 19 travel restriction and social distancing measures have resulted in massive slowdown of supply chain, growing anxiety among population and falling of business. The negative impact of COVID pandemic had a huge disruption on chemicals & advanced materials field from supply chain, raw material to manufacturing and delivery. Moreover, consumer demand has also accordingly reduced as people are now durable on removing non-essential expenses from their individual plans as the general fiscal status of most entities have been harshly affected by this outbreak.

Latest Trends

"Technological advancement to boost the market growth "

High implementation of advanced technology and the existence of large players in county are likely to create abundant growth prospects for the market. Technological improvement and growth will further enlarge the presentation of the product. Developments in technology have led to the expansion of new and better-quality materials contributing market growth. Team up with other firms can lead to the enlargement of new products, services, technologies that can help to motivate growth and income. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing can extend shelf life of products which is anticipated to stimulate product demand.

Multifunctional Label Adhesive Market Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be segmented into water-based label adhesive, solvent-based label adhesive

Water based label adhesive capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into beverages and food pharmaceutical, personal care, industrial labels, retailers and supermarkets, logistics, others

Multifunctional label adhesive market players cover segment as personal care will dominate the market share during forecast period.

Driving Factors

"Aiming on waste reduction to upsurge the market growth"

Manufacturers are aiming on waste decrease by dropping the amount of packing and using bio based material for better recyclability and dumping.​ Due to the start of new technology, rising pay level, increased geriatrics, rising health awareness healthcare sector is growing.

"Rise in demand for food & beverages to register substantial growth rate"

The substantial development in food & beverage packaging goods, growing customer goods demand, the need for ecological & innovative labelling results are also helping to enhance the demand for multifunctional label adhesive market growth. Furthermore, the rising demand for eco-friendly, flexible, and ecological labels in developing markets is also helping to motivate market growth.

Restraining Factors

"Price instability to hamper the market growth"

Rapidly changing raw materials prices have the potential to hamper market expansion. It affects the sales growth in the global market. Shortfall in raw materials manufacturers and buyers as a results of the lockout and volatility in the price which will signify substantial hindrance to the market growth due to high cost in R&D.

Multifunctional Label Adhesive Market Regional Insights

• 

• Request a Free Sample to learn more about this report

"Asia Pacific to dominate the region due to growing demand"

Asia Pacific is further expected to witness growth in multifunctional label adhesive market share. The region is anticipated to witness major growth over the forecast period due to growing focus on improved and innovative technology also due to increasing consumer spending on grooming products. Rising living standards have prompted product demand.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are enthusiastically contributing in strategic events that are aimed at upholding strong market position and growing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They outlay strictly on research and development in order to arise with more new technology so that they can maintain and progress their existing market. The market modifications are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Henkel (Germany)
• Arkema (France)
• H.B.Fuller (U.S.)
• Hexion (U.S.)
• Eastman Chemical (U.S.)

Report Coverage

The report provides examination and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent expansion analysis are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers nationwide and regional level market size and forecast. The report gives businesses the ability to research new outlook in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.