Technological advancement coupled with feasibility in packaging protection has changed the scenario of the packaging industry over the course of time. Since time immemorial, manufacturers and producers are coming up with different solutions to enhance and protect their products from any unauthorized access, which in turn makes consumers not only meet their needs but also surpass their expectations. Tamper- evident adhesives are one of the evolving technology in adhesives, which offers cost-effective and innovative packaging solutions for specific applications such as pharmaceutical packaging.
Tamper-evident Adhesives Market: Drivers and Restraints
Constant advancement in the pharmaceutical packaging market has experienced a double digit growth, which in turn has led the growth of tamper–evident adhesives market as it deliver a product protection and security needs. Furthermore, the repetitive cases of counterfeiting from the past few years in the pharmaceutical industry is fuelling the tamper-evident adhesives market. For instance, according to WHO, almost 10% of medicines are counterfeit across the globe, which has become a major concern for the food and drug manufacturers.
Additionally, some features that is unacceptable for tamper evident adhesives are the type of materials which are being used in adhesives, such as polystyrene, cellulose and thermal plastics do not offer adequate evidence of tampering on the product, which in turn can be a major challenge to the tamper evident adhesives manufacturers.
Tamper-evident Adhesives Market: Key Players
Some of the key players of the global tamper-evident adhesives market are 3M Company, Dupont, KRUSE ADHESIVE TAPE, tesa UK Ltd., Avery Dennison, Nordson Corporation, IRPLAST S.p.A., protectaseal ltd, Stickythings Limited., Palmetto Adhesives, Horizons, Inc and DUNMORE.
Going through these points, there is no doubt that tamper evident adhesives market hold good footprint in market in the near future, henceforth, is expected to grow at impressive CAGR during the forecast period, 2016–2024.