Global Pressure Sensitive Adhesives Market is valued at USD 10.65 Billion in 2021 and expected to reach USD 16.12 Billion by 2028 with the CAGR of 6.1% over the forecast period.
Market Analysis of Pressure Sensitive Adhesives-
Pressure Sensitive Adhesives (PSA) is a major category of adhesive tapes and is a relatively thin flexible material with single or double sided coating. Pressure sensitive tapes will adhere to a variety of substrates when applied to most clean and dry surfaces with pressure. PSA do not require solvent, water or heat to activate the adhesive. The bond is directly influenced by the amount of pressure applied to the adhesive on the surface. Pressure sensitive adhesive (PSA) tapes are used in many different applications with new uses being discovered almost daily. PSA use will continue to grow as a solution to fastening and joining due to advances in adhesive technology, ease of use, and its low cost compared to traditional fastening systems.
Global pressure sensitive adhesives market report is segmented on the basis of composition, type, application, end-user and by regional & country level. Based on composition, global pressure sensitive adhesives market is classified as acrylic, rubber, ethylene vinyl acetate, silicon, polyurethane, and others (polypropylene and polyisobutene). Based upon type, global pressure sensitive adhesives market is classified into water based, hot melts, solvent based, and radiation based. Based upon application, global pressure sensitive adhesives market is classified into labels, medical, graphics, tapes, and others (laminations). Based upon end-user, global pressure sensitive adhesives market is classified into automotive, packaging, building & construction, electronics, medical, consumer goods, and others (industrial assembly, footwear, and paper & printing industry)
The regions covered in this pressure sensitive adhesives market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of pressure sensitive adhesives is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 10.65 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 16.12 Billion|
|Tables, Charts & Figures:||175|
|Pressure Sensitive Adhesives Companies||Avery Dennison Corporation, Arkema Group , The Dow Chemical Company, Henkel AG & Co., KGaA , The 3M Company , H.B. Fuller Company , Sika AG, Collano Adhesives AG , Ashland Inc., LG Chem Ltd. , Adhesives Research Ireland Ltd , Adtek Malaysia Sdn. Bhd. , BASF SE, Cattie Adhesives Solutions, LLC., Eastman Chemical Company, Ellsworth Adhesives, Evonik Industries AG, Guzzetti SpA, Rayven, Inc. , Royal Adhesives & Sealants, LLC, Savaré Specialty Adhesives, Scapa Group PLC, Shin-Etsu Chemical Co., Ltd.|
|Segments Covered||By Composition, By Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Major factor driving the growth of market is the rising demand for adhesives from automobile industry. Rising sales of automobiles is expected to boost the market for these adhesives as they are widely replacing the conventional fixation tools and are now used in fixing of various components in an automobile. Rising demand for passenger vehicles in developing countries will have a direct positive impact on the pressure sensitive adhesives market in the coming years. According to European Automobile Manufacturers Association, In April 2019, the European passenger car market recorded a relatively stable performance (-0.4%), counting 1,303,787 new registrations of passenger cars. However, fluctuations in prices of raw materials and stringent government regulations regarding volatile organic compounds (VOCs) emission hinder the market growth. Additionally, proliferation in use of bio-based pressure sensitive adhesives and advancements in pressure sensitive adhesive tapes are expected to offer huge opportunity for market expansion.
Regional Analysis –
Asia Pacific region dominates the pressure sensitive adhesives market. Rapid growth in automotive & packaging industry in Asia Pacific region is the major factor driving the growth of the market. Rising disposable income among individuals and easy availability of funds and personal loans, have prompted the demand for automobiles in the region. Additionally, rising demand in electrical & electronics industry also fuels the growth of the market. China, Japan, India, Australia and Indonesia are the major markets in Asia Pacific region.
North America holds the second position in the market. Strict regulations regarding VOC emission along with fuel efficiency standards drive the growth of the market in the region.
Europe has a huge market potential for pressure sensitive adhesives. Rapid growth in automotive & packaging industry in Europe drives the growth of the market. According to RAND Corporation, currently, Germany produces more than 6 million vehicles per year, making it the world’s fourth-largest manufacturer in automobile industry.
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