Pressure sensitive adhesives are non-metallic material used to bond different materials mainly to their surface through adhesion and cohesion. Growing trends of bio-based pressure sensitive adhesives market drive the growth of the market. Additionally, increasing demand from various end- use industries increase the demand of the market. However, fluctuating and high prices of raw materials, may hamper the growth of the market. Global pressure sensitive adhesives market appears to be highly fragmented and competitive. The key strategies traced from the analysis of recent developments of the key players include product launch, agreement & partnership, acquisition and expansion.
On the basis of regions, Asia Pacific region dominates the global pressure sensitive adhesives market, and is expected to grow at the highest CAGR during the forecast period. Rapid growth in automotive & packaging industry in Asia Pacific region is the major factor driving the growth of the market. Additionally, growth in demand in electrical & electronics industry also fuels the growth of the market. North America is the second largest market for the pressure sensitive adhesives.
Global pressure sensitive adhesives market is projected to grow at the CAGR of 6.1% during the forecast period.
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The prominent players in the global pressure sensitive adhesives market include 3M (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), Avery Dennison Corporation (US), The DOW Chemical Company (U.S.), Ashland Inc. (U.S.), H.B. Fuller Company (U.S.), Henkel AG & Company KGaA (Germany), Collano Adhesives AG (Switzerland), Sika AG (Switzerland), Reflex Labels Ltd. (U.K.), Jonson Tapes Limited (India), and Advance Tapes International Limited (U.K.).
Market Research Analysis
Global pressure sensitive adhesives market has been segmented based on technology, product, End-User, and region. On the basis of technology, the market is segmented as Water-based, Solvent-based, Hot Melt, and Radiation. Water-based segment dominates the technology segment of the market. Water-based PSAs are widely used in varied applications. The growth of the segment is mainly attributed to the eco-friendly nature of water-based PSAs, safety associated with their use, and cost-effectiveness. The hot melt segment is expected to be the fastest-growing technology segment of the pressure sensitive adhesives market. Increasing application of hot melt technology in packaging and electronics industries, drives the growth of the market.
On the basis of product, the market is segmented as labels, tapes, graphics films and others. Labels dominates the product segment of the market and is expected to grow at the fastest CAGR during the forecast period. The growing transportation and logistics industries are the key drivers of pressure sensitive labels market. With the growth of e-commerce industries, there is an increased need for warehousing solution. The need for product authentication, tamper evidence and security features have stimulated the market for pressure sensitive labels. Tapes form another major segment for the pressure sensitive adhesives. Growth in healthcare and medical sectors, is the key driver of pressure sensitive tapes market. Furthermore, the increased application in sectors such as food & beverages, packaging, construction, automotive, has led to the growth pressure sensitive tapes. This segment is expected to contribute significantly during the forecast period.
Base on end-user, the market has been segmented as packaging, automotive, electrical & electronics industry, consumer Goods and Others. Packaging dominates the end-user segment of the market. Electrical & Electronics industry is expected to grow at the fastest CAGR during the forecast period. Increasing disposable income among the individuals, along with improving living standards, is driving the demand for electronic products, which further propels the growth of the market.
Scope of the Report
This study provides an overview of the global pressure sensitive adhesives market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global pressure sensitive adhesives market by its technology, product, End-User and region.
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