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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Definition of Market/Industry:

Pressure-sensitive adhesives are substances used to create a bond between two surfaces. Pressure-sensitive adhesives are widely used across medical, packaging, automotive, electronic, and other manufacturing industries. These adhesives are easy to use and offer excellent adhesion property. Pressure-sensitive adhesives can be classified into non-reactive adhesives and reactive adhesives.

The global Pressure Sensitive Adhesives market is estimated to be valued at US$ 8,808.7 million in 2021 and is expected to exhibit a CAGR of 5.2 % over the forecast period (2021-2028).

Recent Developments:

In February 2020, Henkel Adhesives Technologies opened its new production facility in Kurkumbh, India, near Pune. The unit aims to serve the growing demand for high-performance solutions in adhesives, sealants, and surface treatment products in Indian industries. Designed as a smart factory, the new plant also will also help a wide range of Industry 4.0 operations and meet the highest standards for sustainability.

In June 2019, BASF SE, a global leader in manufacturing raw materials for pressure sensitive adhesives, doubled its manufacturing capacity of acResin at its Ludwigshafen site, Germany. AcResin is a UV acrylic hot melt, used in manufacturing of the pressure sensitive adhesives.

In November 2018, H.B. Fuller launched a new product named Swiftmelt 1908, in India at the Labelexpo 2018. The product was customized to meet the unique requirements in India and was designed for providing high adhesion, precise die cutting performance, and clean converting on holographic label stock.

Asia Pacific held dominant position in the Global Pressure Sensitive Adhesives market in 2020, accounting for 40.0% share in terms of value followed by North America and Europe, respectively. This is primarily due to increase in consumption of goods in major developing markets of India and China. This has led to demand in the retail labelling segment.

Figure 1. Global Pressure Sensitive Adhesives Market Value (US$ Mn), by Region, 2020

Pressure Sensitive Adhesives  | Coherent Market Insights

Drivers:

Growing demand for lightweight and low emission automotive is propelling the market growth of pressure-sensitive adhesives. Polymer-based and hot adhesives are majorly used for panel laminations and trim in the automotive industry. Growing awareness regarding the low weight vehicles with increased fuel efficiency and lower emissions is further expected to drive the demand for such adhesives from the automotive industry. Hence, the growing demand for fuel-efficient vehicles is expected to foster market growth.

Driver 2

The rising popularity of miniaturization of electronic devices such as portable computers, cell phones, and tablets is projected to augment the market growth of pressure-sensitive adhesives. The smartphone is one of the popular examples of miniaturization of electronic devices. Increasing disposable income and growth in the urban population is creating demand for such electronic devices. Thus growing popularity of miniaturization of electronic devices is expected to accelerate the market growth of pressure-sensitive adhesives. 

Market Opportunities

The increasing development of bio-based pressure-sensitive adhesives due to growing environmental concerns is expected to provide potential market opportunities. Bio-based pressure-sensitive adhesives reduce the environmental effects by reducing the level of carbon footprints. They are derived from starch, soy, and vegetable oils and can compete with petroleum-based adhesives. Also, polyols, bio-derived from soybeans is used in the manufacturing of PSA’s. Hence, the growing development of bio-based pressure sensitive adhesives is expected to fuel market growth.

Growing preferences towards silicone-based pressure sensitive adhesives in Asia is projected to bring new market opportunities in the near future. Silicone-based pressure-sensitive adhesives offered benefits such as high performance even at high temperatures, better resistance to chemicals, UV radiations, and moisture. Moreover, silicone-based pressure-sensitive adhesives are also ideal for aerospace, freezer, and cold-weather tapes. Thus, the growing use of silicone-based pressure sensitive adhesives is fueling market growth. 

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Pressure Sensitive Adhesives Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 8,808.7 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 5.2% 2028 Value Projection: US$ 12,555.9 Mn
Geographies covered:
  • Region: North America, Europe, Asia Pacific, Middle East, Africa, and Latin America
Segments covered:
  • By Product Segment: Water based PSA, Solvent Based PSA, Hot Melt PSA, & Radiation Cured PSA
  • By Application: Tapes, Specialty, Labels, Graphics & Others
Companies covered:

3M Company, Ashland Inc., Avery Dennison Corporation, BASF SE, Bostik SA, Dow Chemical Company, Ellsworth Adhesives, H.B Fuller Company, Henkel AG & Co. KGaA, and LG Chem

Growth Drivers:
  • Rapid urbanization and industrialization
  • Technological advancement
Restraints & Challenges:
  • Strict environmental regulations

Market Trends

Acrylic-based PSA is gaining traction in the market. These tapes possess excellent resistance to UV-light & chemical, color stability, high shear strength & hydrolysis resistance, high resistance to different temperatures ranges. They are suitable for durable and long-term applications and have higher thermal stability as compared to rubber-based PSAs. Acrylic-based PSA'a is widely used across automotive, construction, electronics, and aerospace industries, thereby fueling market growth.

Water-based PSAs are experiencing tremendous popularity around the globe and are broadly used across paper and food &beverage industries. Rapid growth in the end-user industries and other manufacturing industries is expected to foster the market growth of the pressure-sensitive adhesives. Also, ongoing urbanization around the globe coupled with the development of the overall economy is again expected to propel the market growth of the pressure-sensitive adhesives over the forecast period.

Figure 2. Global Pressure Sensitive Adhesives Market Share, By Product Segment, 2020

Pressure Sensitive Adhesives  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Water based PSA in product segment held dominant position in the market and accounted for 41.8% share in the global Pressure Sensitive Adhesives market in 2020. The segment is expected to reach US$ 5,491.1 million in 2028.
  • The market for water-based PSAs has witnessed growth due to the demand from the medical and packaging industries. Water-based technology finds applications in pressure-sensitive tapes, labels, glue dots, note pads, automobile trims, films & peelable and specialty applications in different industries such as packaging, electrical, electronics & telecommunication, medical & healthcare, and automotive.

Market Restraints

An environmental concern associated with the materials used in the pressure sensitive adhesives is expected to restrict market growth. The materials used in the production of PSA possess a potential threat to aquatic as well as terrestrial species. Thus, growing environmental concerns is projected to hamper the market growth.

Strict rules and regulation regarding the production of pressure-sensitive adhesives as it exhibit recycling and various health issues is expected to hinder the market growth. This factor is restricting the adoption of the pressure-sensitive adhesives across various industries, thus hindering the market growth over the forecast period.

Competitive Section:

Company Names 

  1. 3M Company
  2. Ashland Inc.
  3. Avery Dennison Corporation
  4. BASF SE
  5. Bostik SA
  6. Dow Chemical Company
  7. Ellsworth Adhesives
  8. H.B Fuller Company
  9. Henkel AG & Co. KGaA
  10. LG Chem

Few Recent Developments

In June 2019, BASF has doubled its manufacturing capacity for UV acrylic hotmelts sold under the brand name acResin by building a second production facility at the Ludwigshafen site in Germany. By taking this move, the company has strengthened its position as the solution provider for sophisticated applications in the adhesives sector

Pressure-sensitive adhesives are used in a variety of industries that require sealant but cannot be used to seal tight spaces where high pressures are applied. These special types of adhesives react to high temperatures and pressure to form a highly secure seal that is difficult to break. Because these adhesives react to both high temperatures and pressure they can seal cracks, seal vents, and eliminate the need for metal adhesives such as epoxy. This type of seal has many different uses and will not crack, warp, or peel in any situation.

Market Dynamics:

Increasing demand from aerospace and automotive industry is a prime factor driving growth of the pressure sensitive adhesives market. Moreover, growing technological advancement is another major factor fostering growth of the market. For instance, in November 2020, DELO has developed adhesives that have similar properties to (double-sided) adhesive tapes but are applied in liquid form.

On other hand, strict environmental regulation regarding the production of pressure-sensitive tapes is expected to hinder growth of the market

Key features of the study:

  • This report provides in-depth analysis of the Pressure Sensitive Adhesives Market, and provides market size (US$ Million & KiloTons) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global Pressure Sensitive Adhesives Market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include , 3M Company, Ashland Inc., Avery Dennison Corporation, BASF SE, Bostik SA, Dow Chemical Company, Ellsworth Adhesives, H.B Fuller Company, Henkel AG & Co. KGaA, and LG Chem
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global Pressure Sensitive Adhesives Market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Pressure Sensitive Adhesives Market

Detailed Segmentation:

  • Global Pressure Sensitive Adhesives Market, By Product Type:
    • Water based PSA
    • Solvent Based PSA
    • Hot Melt PSA
    • Radiation Cured PSA
  • Global Pressure Sensitive Adhesives Market, By Application:
    • Tapes
    • Specialty
    • Labels
    • Graphics
    • Others
  • Global Pressure Sensitive Adhesives Market, By Region:
    • North America
      • By Product Type
        • Water based PSA
        • Solvent Based PSA
        • Hot Melt PSA
        • Radiation Cured PSA
      • By Application
        • Tapes
        • Specialty
        • Labels
        • Graphics
        • Others
      • By Country
        • Canada
        • U.S.
    • Europe
      • By Product Type
        • Water based PSA
        • Solvent Based PSA
        • Hot Melt PSA
        • Radiation Cured PSA
      • By Application
        • Tapes
        • Specialty
        • Labels
        • Graphics
        • Others
      • By Country
        • U.K.
        • France
        • Germany
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • Water based PSA
        • Solvent Based PSA
        • Hot Melt PSA
        • Radiation Cured PSA
      • By Application
        • Tapes
        • Specialty
        • Labels
        • Graphics
        • Others
      • By Country
        • China
        • India
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Product Type
        • Water based PSA
        • Solvent Based PSA
        • Hot Melt PSA
        • Radiation Cured PSA
      • By Application
        • Tapes
        • Specialty
        • Labels
        • Graphics
        • Others
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Product Type
        • Water based PSA
        • Solvent Based PSA
        • Hot Melt PSA
        • Radiation Cured PSA
      • By Application
        • Tapes
        • Specialty
        • Labels
        • Graphics
        • Others
      • By Sub-Region
        • Middle East
        • Africa
  • Company Profiles
    • 3M Company*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Ashland, Inc.
    • Avery Dennison Corporation
    • BASF SE
    • Bostik SA
    • Dow Chemical Company
    • Ellsworth Adhesives
    • B Fuller Company
    • Henkel AG & Co. KGaA
    • LG Chem

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, Product Type
      • Market Snippet, Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Pressure Sensitive Adhesives Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Pressure Sensitive Adhesives Market – COVID-19
    • Impact Analysis
  5. Global Pressure Sensitive Adhesives Market, By Product Type, 2017- 2028 (US$ Mn & KiloTons)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Water based PSA
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Solvent Based PSA
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Hot Melt PSA
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Radiation Cured PSA
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
  6. Global Pressure Sensitive Adhesives Market, By Application, 2017- 2028 (US$ Mn & KiloTons)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Tapes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Speciality
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Labels
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Graphics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KiloTons)
  7. Global Pressure Sensitive Adhesives Market, By Region, 2017- 2028 (US$ Mn & KiloTons)
    • Introduction
      • Market Share Analysis, By Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, For Region, 2021 - 2028
    • North America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • U.S.
        • Canada
    • Latin America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Region
        • Middle East
        • Africa
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • 3M Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Ashland, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Avery Dennison Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • BASF SE
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Bostik SA
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Dow Chemical Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Ellsworth Adhesives
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • H.B Fuller Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Henkel AG & Co. KGaA
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • LG Chem
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on "Pressure Sensitive Adhesives Market” - Global forecast to 2028.

FAQgrowicon

Frequently Asked Questions

The market size is estimated to be valued at US$ 8,808.7 Million in 2021 and is expected to exhibit a CAGR of 5.2% between 2021 and 2028.
Increasing demand for lightweight vehicle and rapid urbanization are the factors fuelling growth of market.
The Water based PSA segment is the leading component segment in the market.
Strict environmental regulation regarding production of pressure sensitive adhesives is expected to hinder growth of the market.
Major players operating in the global Pressure Sensitive Adhesives market include, 3M Company, Ashland Inc., Avery Dennison Corporation, BASF SE, Bostik SA, Dow Chemical Company, Ellsworth Adhesives, H.B Fuller Company, Henkel AG & Co. KGaA, and LG Chem.
Asia Pacific region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by increase in consumption of goods in major developing markets of India and China. This has led to demand in the retail labelling segment.
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