With a market share of roughly 38% in 2022 for hot melt adhesives, the packaging segment is anticipated to expand at a CAGR of 4.5% over the course of the forecast period. Over the projected period, the primary factor driving segment expansion is anticipated to be the growing demand for sufficient packaging solutions for products to prevent their contents from being harmed during transit, processing, and storage. Product sealing is used more frequently because packaging helps keep the product intact during the chain of transportation from the producer to the end consumer.
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