Hyderabad, Aug. 22, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Pressure Sensitive Adhesives Market Report (2023-2028)," the market is estimated at USD 11.29 billion in 2023. It is expected to register a CAGR of 6.21% during the forecast period.
Pressure-sensitive adhesives are a type of adhesive that can be cured by applying pressure. The adhesives, under pressure, become solid and bond to the substrates required.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 11.29 billion |
| Market Size (2028) | USD 15.25 billion |
| CAGR (2023-2028) | 6.21% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The development of low-cost, flexible packaging. |
| The low curing time of pressure-sensitive adhesives. |
Who are the Top Companies in the Pressure Sensitive Adhesives Market?
The pressure-sensitive adhesives market is highly consolidated, consisting of several market players. The companies are using strategies like new product launches to gain a competitive advantage in the market.
Significant players in the pressure-sensitive adhesives market are,
- 3M
- Arkema Group (Bostik SA)
- Ashland Inc.
- Avery Dennison Corp.
- DuPont
- Franklin International
- H.B. Fuller Co.
- Helmitin Adhesives
- Henkel AG & Co. KGaA
- Huntsman Corporation
- Illinois Tool Works Inc.
- Jowat AG
- Mapei SPA
- Master Bond
- Pidilite Industries Ltd
- Sika AG
- Tesa SE (A Beiersdorf Company)
- Wacker Chemie AG
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Key Highlights from the Pressure Sensitive Adhesives Market Report:
Packaging Industry Driving the Market
- The packaging industry requires a reliable adhesive to cater to complex packaging demands to meet the growing number of new products.
- Pressure-sensitive adhesives offer instant bonds as applying them saves time. The curing process is not time-consuming. When applied, the adhesive compresses the substrate right when adhesion occurs. This instant bonding increases processing speed and improves production.
Asia-Pacific to Dominate the Market
- China, India, Japan, and South Korea occupy over 80% of the demand for pressure-sensitive adhesives. China is the largest packaging consumer worldwide due to its growing per capita income and the establishment of e-commerce giants.
- In India, the use of pressure-sensitive adhesives has increased with transparent and film labels, flexible labels, and shrink-wrap labels. Therefore, the market in the country is expected to grow significantly.
What are the Latest Developments in the Pressure Sensitive Adhesives Market?
- In February 2023, Arkema launched pressure-sensitive adhesives using advanced technologies, such as hot melt, UV, and specialty solution acrylics.
Mordor Intelligence has Segmented the Pressure Sensitive Adhesives Market Based on Technology, Resin, Application, End-User Industry, and Geography:
- By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Water-based
- Solvent-based
- Hot Melt
- Radiation
- By Resin (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Acrylics
- Silicones
- Elastomers
- Other Resins
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Tapes
- Labels
- Graphics
- Other Applications
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Packaging
- Woodworking and Joinery
- Medical
- Commercial Graphics
- Electronics
- Other End-user Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Italy
- France
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Pressure Sensitive Adhesives Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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