New York, United States, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The Global Pressure Sensitive Adhesives Market Size is expected to reach USD 21.87 Billion by 2032, at a CAGR of 5.8% during the forecast period 2022 to 2032.
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Pressure sensitive adhesives are non-reactive adhesives that adhere to a substrate when applied to pressure. There is no need for a solvent, water, or heat to activate the adhesive. Surface properties such as homogeneity, energy density, and contaminant clearance are also important for successful bonding. Pressure sensitive adhesives are designed to form and hold a bind at room temperature. Pressure-sensitive adhesive tapes are widely used in the construction of nearly any type of equipment and are particularly useful for fastening and positioning conductors, limiting lateral movement, identifying parts, excluding moisture, and a variety of other applications. Furthermore, rising demand for light-weight vehicles leads to increasing automotive manufacturing, which is the primary driver of market expansion. Pressure sensitive adhesive tapes are used in the production of a variety of equipment and are highly effective for holding and positioning conductors, preventing relative movement, identifying parts, and keeping moisture out. The increasing demand for flexible packaging, particularly in the food and beverage industries, has become one of the most important drivers influencing the growth of the pressure sensitive adhesives market. Most of these factors combine to promote demand for pressure sensitive adhesives, hence expanding the global market.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the “Global Pressure Sensitive Adhesives Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Tapes, Labels, Graphic Films, Others), By Chemistry (Acrylic, Rubber, Silicone, Others), By Technology (Water-based, Solvent-based, Hot-melt, Radiation), By End-Use Industry (Automotive & Transportation, Electronics, Consumer Goods, Medical & Healthcare, Packaging, Building & Construction, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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The tapes segment is witnessing significant CAGR growth over the forecast period.
On the basis of sports, the global pressure sensitive adhesives market is segmented into tapes, labels, graphic films, and others. Among these, the tapes segment is witnessing significant CAGR growth over the forecast period. This is owing to the packing industry's frequent use of tapes for container sealing. They are also used in a range of assembly applications, such as automotive and electrical production.
The acrylic segment is dominating the market with the largest revenue share over the forecast period.
On the basis of chemistry, the global pressure sensitive adhesives market is segmented into the acrylic, rubber, silicone, and others. Among these, the acrylic segment is dominating the market with the largest revenue share of 53.6% over the forecast period. This is a result of the increased use of acrylic-based PSAs, which are corrosion and UV resistant. Acrylics are among the most extensively used and adaptable materials in the market for pressure sensitive adhesives.
The water-based segment is expected to hold the largest share of the global pressure sensitive adhesives market during the forecast period.
Based on the technology, the global pressure sensitive adhesives market is divided into water-based, solvent-based, hot-melt, and radiation. Among these, the water-based segment is expected to hold the largest share of the global pressure sensitive adhesives market during the forecast period. Water-based technology is used to create pressure sensitive adhesives with a high molecular weight and minimal dissolution. As a result, it is not biodegradable. As a result, these adhesives do not accumulate in the food chain.
The packaging segment accounted for the largest revenue share of more than 34.2% over the forecast period.
On the basis of End-Use Industry, the global pressure sensitive adhesives market is segmented into automotive & transportation, electronics, consumer goods, medical & healthcare, packaging, building & construction, and others. Among these, the packaging segment is dominating the market with the largest revenue share of 34.2% over the forecast period. This is due to the significance it plays in transportation and logistics. Furthermore, the need to improve consumer attractiveness gives an opportunity to make packaging appealing. This has propelled the growth of the pressure sensitive adhesives market in the packaging industry.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. The rapidly expanding industrial sector, as well as rising foreign investment in the region's economies, are expected to drive regional market expansion. The Asia Pacific packaging industry has huge potential. Furthermore, it is increasing because of the rapid growth of e-commerce, where labels are routinely used for packaging and shipping. On the other hand, North America is predicted to expand the fastest during the forecast period. This industry is driving market expansion due to tight fuel economy and volatile organic compound (VOC) pollution regulations.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market. Major vendors in the Global Pressure Sensitive Adhesives Market include Arkema, 3M, Sika AG, Ashland, Inc., AkzoNobel N.V., Henkel AG & Co. KGaA, The Dow Chemical Company, Avery Dennison Corporation, H.B. Fuller Company, Franklin Adhesives & Polymers., Pidilite Industries Ltd., Jubilant Industries Ltd., BASF SE, LG Chem, Ellsworth Adhesives, Bostik SA, Evonik Industries AG and among others.
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Recent Developments
- On April 2023, Duraco Specialty Material, a leading manufacturer of specialty materials such as pressure sensitive tapes and labels, coated films, and release liners, announced the acquisition from private sellers of Strata-Tac, Inc., a leading manufacturer of custom engineered pressure sensitive self-adhesive products and top coated films. Duraco Specialty Material's commitment to providing technically sophisticated, bespoke solutions across emerging end markets is reinforced by the addition of Strata-Tac.
- In February 2022, Ashland has announced a novel water-based pressure sensitive adhesive (PSA) technology that is completely compliant in direct skin contact applications with the International Organization for Standardization (ISO) 10993. This portfolio includes seven extremely competitive Aroset and Flexcryl acrylic PSAs suited for high-performance applications. These seven PSA grades are now on the market and ready to meet the requirements of ISO 10993-regulated applications.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Pressure Sensitive Adhesives Market based on the below-mentioned segments:
Pressure Sensitive Adhesives Market, Product Type Analysis
- Tapes
- Labels
- Graphic Films
- Others
Pressure Sensitive Adhesives Market, Chemistry Analysis
- Acrylic
- Rubber
- Silicone
- Others
Pressure Sensitive Adhesives Market, Technology Analysis
- Water-based
- Solvent-based
- Hot-melt
- Radiation
Pressure Sensitive Adhesives Market, End-Use Industry Analysis
- Automotive & Transportation
- Electronics
- Consumer Goods
- Medical & Healthcare
- Packaging
- Building & Construction
- Others
Pressure Sensitive Adhesives Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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