Pressure sensitive adhesives are expected to witness high demand during the forecast period from 2017 to 2023. According to the latest report published by Market Research Future the global pressure sensitive adhesives market is expected to witness promising growth at a CAGR of 6.1% during the forecast period. Pressure sensitive adhesives are available in a number of forms such as tapes, labels, and glue dots, among others.
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Available for permanent and removable applications, pressure sensitive adhesives are used in buildings for HVAC ductwork, and in automotive applications. These applications are good examples of permanent use. Meanwhile, removable pressure sensitive adhesives have a temporary effect and include notepads, masking tapes, price labels, and a wide number of other applications. Industries such as packaging, healthcare, and automotive make extensive use of pressure sensitive adhesives. A number of consumer goods in stationary equipment are also made using pressure sensitive adhesives. Increasing buying power due to rapid economic growth, particularly in emerging economies has increased demand for automotive vehicles, consumer goods, and electrical & electronics industry, thus leading to increased use of pressure sensitive adhesives. Increasing applications in the F& B sector are also expected to contribute to the growth of the market. Moreover, the rapid growth of the e-commerce industry has put a high demand on the pressure-sensitive adhesives market which is expected to translate into significant growth over the review period.
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The global pressure sensitive adhesives market, in MRFR’s report, has been analyzed by its many parts in the report which has been segmented on the basis of technology, product, end-user, and region. Technologies involved in pressure sensitive adhesives include water-based, solvent-based, hot melt, and radiation. Product types of pressure sensitive adhesives include graphic films, tapes, labels, and others. The labels segment is expected to dominate the market and grow at the highest CAGR during the forecast period due to the growth of the e-commerce industry which has led to the increasing demand for warehouse and organization solutions. End-users of pressure sensitive adhesives have been segmented into packaging, electrical & electronics, automotive, consumer goods, and others.
The global division of the market has segmented it into regions such as North America, Asia Pacific, Europe, and the Rest of the World.
The Asia Pacific market has the lion’s share of the global pressure sensitive adhesives market. The region has a significant packaging and automotive industry due to its increasing global positioning as an industrial hub. The region has a high concentration of emerging economies where consumers are witnessing an increase in purchasing power, and there is easy availability of personal loans, EMI schemes and other personal financing options for large purchases, such as automotive. Moreover, the electrical & electronics industry in the region is also witnessing rapid growth. Country-level markets leading growth include China, Japan, India, Australia, and Indonesia. Among these, China has the largest share of the APAC market.
North America accounts for the second largest market due to stringent regulation with regards to VOC emissions along with fuel efficiency norms which drive the demand for pressure sensitive adhesives in industrial applications. Europe is also a significant market while the Rest of the World includes promising country level markets such as the U.A.E and Brazil.
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