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Pressure Sensitive Adhesives Market by Chemistry (Acrylic, Rubber, EVA), Technology (Water-based, Solvent-based, Hot Melt), Application (Labels, Tapes, Graphics), End-Use Industry (Packaging, Automotive, Medical), Region - Global Forecast from 2023 to 2028

Published: March, 2023
ID: 8549
Pages: 175
Formats: report pdf report excel report power bi report ppt

Pressure Sensitive Adhesives Market Size (2023-2028):

The worldwide pressure-sensitive adhesives industry size is predicted to rise from USD 9.5 billion in the year 2022 to USD 12.1 billion by the end of the year 2028, with a current CAGR of 8.6% throughout the foreseen period.

There is a strong call for pressure-sensitive adhesives from the packaging and medical and healthcare industries due to the widespread coronavirus pandemic. PSA is a type of non-reactive adhesive that forms a bond when pressure is applied to bond a surface with an adhesive. The peculiarity of PSAs is that they do not solidify, but remain viscous. Wide acceptance due to its ease of adaptation, increasing use in tapes and labels, and high call in the APAC region are driving the PSA market. pressure-sensitive tapes, car moldings, glue dots, notepads, and more. The degree of bonding depends on the amount of pressure applied during bonding. The smoothness of the surface, the absence of contaminants, surface energy, and other factors play a fundamental role in good adhesion. They are designed in such a way that they can maintain adequate adhesion even at room temperature. PSAs are employed in masking tapes, surface protection films, price tags, promotional graphics, marker and note papers, aluminum HVAC duct tape, electrical equipment safety labels, car interior trim, etc.

Pressure Sensitive Adhesives Market Trends:

The growing call for fuel-efficient vehicles, electric vehicles, automated vehicles, etc. It will boost the regional auto industry and increase the pressure-sensitive adhesives market during the foreseen period. Another important factor driving the expansion of the worldwide pressure-sensitive adhesives market is the high call for products in the automotive and transportation sector. PSA strips are employed on the bodywork, under the hood, and on the exterior and interior trim of the vehicle. The increasing use of tapes and labels in the manufacture of light vehicles and the reduction of fuel consumption will increase the call for products in the coming years.

Pressure Sensitive Adhesives Market Drivers:

Development in the electronics and automotive sectors is the main driving force in the worldwide pressure-sensitive adhesive market. The worldwide calls for automotive applications and the miniaturization of electronic devices are also influencing the expansion of the pressure-sensitive adhesives market. Profitable labeling and packaging applications in the packaging industries and improved inventory management anticipate the expansion of the pressure-sensitive adhesives market. The increasing use of RFID tags for inventory tracking and security in places like airports, seaports, businesses, and shopping malls is also contributing to the call for pressure-sensitive adhesives. The growing call for pressure-sensitive adhesive in many end-use industry verticals, such as packaging and automotive, is a major factor that is predicted to drive worldwide market expansion in the coming years. Additionally, increasing the scope of applications in the tape and label industries is a key factor that is predicted to support the revenue expansion of the target market over the next 10 years.

Pressure Sensitive Adhesives Market Restraints:

The change in crude oil prices will be a key limiting factor for PSA call, as various downstream petrochemicals are employed as raw materials in these adhesives.

Opportunities in the Pressure Sensitive Adhesives Market:

Several advantages that pressure-sensitive adhesives offer, such as strong surface adhesion, high-temperature resistance, and others, are among the factors likely to drive the adoption of these products, which in turn are predicted to drive expansion. Furthermore, these adhesives have a wide range of applications in various end-use industrial sectors, which in turn are predicted to drive worldwide market expansion over the next 10 years. The miniaturization of electronic devices and the increasing call for radio frequency identification (RFID) and luminescent labels in the medical industry are other factors that are predicted to complement the expansion of the market. Asia-Pacific is the leading region in the pressure-sensitive adhesive market, driven by increased automotive production and increased vehicle weights.

Challenges in the Pressure Sensitive Adhesives Market:

However, rising raw material prices may pose a challenge to the market call for pressure-sensitive adhesives during the foreseen period.

PRESSURE-SENSITIVE ADHESIVES MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022-2028

Base Year

2022

Forecast Period

2023-2028

CAGR

6.6%

Segments Covered

  • By Chemistry
  • By Technology
  • By Application
  • By End-Use Industry 

 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • North America: United States, Mexico, Canada
  • Europe: United Kingdom, Germany, Italy, France
  • Asia Pacific: Australia, Canada, China
  • Latin America: Argentina, Brazil, Chile
  • The Middle East and Africa: Egypt, Iran, Iraq, Israel

 

 

Market Leaders Profiled

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). Henkel AG & Company KGAA (Germany)

Pressure Sensitive Adhesives Market Segmentation:

By Chemistry:

Acrylic PSAs are firm and durable as compared to rubber PSAs.

By Technology:

By Application:

  • Labels

  • Tapes

  • Graphics

Tape PSAs are increasingly being employed in the packaging and healthcare industries due to their ease of use and low cost compared to traditional methods.

By End-Use Industry:

  • Packaging

  • Automotive

  • Healthcare

Packaging is of two types, flexible and rigid. PSAs are employed depending on the suitability of the application. 

Pressure Sensitive Adhesives Regional Analysis:

  • North America 

  • Europe 

  • Asia Pacific

  • Latin America 

  • Middle East & Africa 

APAC is the largest and most dynamic market in the worldwide PSA market. Countries like China, India, Japan, and South Korea play a prominent role in the PSA market in this region. Worldwide expansion is predicted to be driven by China, which was the largest PSA market in the APAC region in 2019. This region encompasses a wide range of economies with varying levels of economic development and a wide variety of industries. Key industries in this region include manufacturing, mining, semiconductors, electronics, oil and natural gas, textiles, automobiles, financial services, pharmaceuticals, and telecommunications. The packaging and consumer products sectors are growing very rapidly due to the growing needs of the population. The automotive, electronics, and packaging industries continually drive the PSA market in this region.

It is predicted to contribute significantly to this during the foreseen period. In the rest of the world, countries such as the United Arab Emirates and Brazil are experiencing strong industrial expansion, which is driving market expansion. In addition, high investments in the construction and automotive sectors are driving market expansion. The Asia-Pacific region will have the largest share of the market during the foreseen period. Over the past decade, the region has seen substantial development in its packaging, food and beverage, automotive, and medical industries. Large worldwide companies operating in these sectors have established their manufacturing plants in the region due to cheap labor, availability of raw materials, etc. The region is known as the center of electronics manufacturing.

Recent Developments in the Pressure Sensitive Adhesives Market:

  • Henkel launches a new web portal for pressure-sensitive adhesives. By providing a comprehensive overview, Henkel has launched a worldwide web platform that brings together all relevant information about PES.

Pressure Sensitive Adhesives Market Key Players:

  1. Henkel AG & Company KGAA (Germany)

  2. The Dow Chemical Company (US)

  3. Avery Dennison Corporation (US)

  4. H.B. Fuller (US)

  5. 3M Company (US)

  6. Arkema Group (France)

  7. Sika AG (Switzerland)

  8. Scapa Group PLC (UK)

  9. Ashland Inc., (US)

  10. Henkel AG & Company KGAA (Germany)

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