Pressure Sensitive Adhesives Market to Register Substantial Expansion by 2025
The Global Pressure Sensitive Adhesives Market size is projected to grow from USD 9.5 billion in 2020 to USD 12.8 billion by 2025, at a CAGR of 6.0% during the forecast period.
Browse 106 market data tables and 53 figures spread through 183 pages and in-depth TOC on “Pressure Sensitive Adhesives Market by Chemistry (Acrylic, Rubber, Silicone), Technology (Water-based, Solvent-based, Hot Melt), Application (Labels, Tapes, Graphics), End-Use Industry (Packaging, Automotive, Healthcare), & Region - Global Forecast to 2025”
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Global PSA market is emerging with a positive growth due to the increasing number of applications in tapes, labels, and graphics that cater the demand of packaging, aerospace, electrical and electronics, construction, automotive industries, etc. There is a continuous need of innovations in the applications and products to help sustain against the different substitutes available in the market. Therefore, all major companies have created advanced application technology centers for R&D worldwide.
The rising attention towards the protection of human health and environmental risks has promoted various government regulations, has led to rise in developments of sustainable or bio based PSA. In order to achieve this hike, innovations are being undertaken to meet the synchronization of consumer needs as per their requirements. The demand for renewable and sustainable green resins are also gaining hold in this industry.
Asia-Pacific market has tremendous opportunities for PSA and its applications due to presence of enormous consumer industries like automotive, food packaging, etc. This region has emerged to be the driving factor for this market, contributing to more than 50% of the global demand. China leads the global market in the consumption of PSA and India is the fastest growing market, globally. The other emerging economies such as Brazil, The Middle East, Russia, India, etc. are further lined up for the brighter future in this market. The companies such as Avery Dennison and Scapa, headquartered in U.S. and U.K aims to increase its presence in the Asian market particularly in India by increasing its application development capability and global production infrastructure.
Through their organic growth strategies of new product developments and geographic expansions, the companies are opting to expand their PSA business worldwide. The major companies operating in this market such as Lintec Corporation located in Japan; BASF from Germany, U.S. based 3M, Ashland, Avery Dennison are taking efforts for developing sustainable adhesives, which are made from environment safe technologies.
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The medical & healthcare segment is estimated to be the emerging end-use industry in the pressure sensitive adhesives market during the forecast period
PSAs have prime importance in the medical & healthcare industry and are extensively used in hospitals. These medical products include PSA transfer tapes and single-coated & double-coated PSA tapes. Adhesive transfer tapes and double-coated tapes are mostly used in medical device OEMs to adhere to medical devices, strips, and pouches. The market for PSA in this industry is also influenced by growing COVID-19 infections in people having existing medical conditions such as asthma and diabetes. Moreover, there is a continuous rush in vaccine development for the treatment of COVID-19 and developing medical infrastructures. All these factors are expected to increase the growth of the PSAs market in the medical & healthcare industry
APAC is estimated to be the largest as well as the fastest-growing pressure sensitive adhesives market
APAC is expected to account for the largest share of the pressure sensitive adhesives industry during the forecast period. The increasing demand from end-use industries is contributing to the demand for PSAs, eventually driving the market growth in the APAC region. This market is driven by increased foreign investments due to cheap labor and accessible raw materials. Also, government proposals to improve the manufacturing and infrastructure, and to increase cash-intensive non-residential construction activities, coupled with the increase in the manufacturing of end-use products, are driving the PSAs market growth
Major vendors in the pressure sensitive adhesives market include Henkel AG & Company KGAA (Germany), The Dow Chemical Company (US), Avery Dennison Corporation (US), H.B. Fuller (US), 3M Company (US), Arkema Group (France), Sika AG (Switzerland), Scapa Group PLC (UK), and Ashland Inc., (US)
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