Pressure sensitive adhesives market

Pressure Sensitive Adhesives Market, By Product Type (Water based PSA, Solvent Based PSA, Hot Melt PSA, and Radiation Cured PSA), By Application (Tapes, Specialty, Labels, Graphics, and Others), By Regions (North America, Europe, Asia Pacific, Middle East, Africa, and Latin America) -

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Jan 2023
CMI485
140 Pages
Excel & Pdf
Advanced Materials

Summary

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

Global pressure- sensitive adhesives market was valued at US$ 8808.70 Mn in 2022 in terms of revenue, and is expected to exhibit a CAGR of 5.62% during the forecast period (2023 to 2030).

Drivers

Surging Demand for Pressure-sensitive Adhesives

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

Rising popularity of miniaturization of Electronic Devices such as portable computers, cell phones, and tablets is projected to augment the global pressure-sensitive adhesives market growth. 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 global pressure-sensitive adhesives market growth.

Figure 1. Global Pressure-sensitive Adhesives Market Value Share (%), By Region 2022

Asia Pacific held a dominant position in the global pressure-sensitive adhesives market in 2021, accounting for 40.0% share in terms of value, followed by North America and Europe. This was primarily due to an increase in the consumption of goods in developing markets of India and China, and thus, it has created a demand in the retail labelling segment.

Market Restraints

Strict rules and regulations

Environmental concerns associated with materials used in pressure-sensitive adhesives are expected to restrict the market growth. Materials used in the production of PSA possess a potential threat to aquatic as well as terrestrial species.

Strict rules and regulations regarding the production of pressure-sensitive adhesives, as it causes various health issues, are expected to hinder the market growth. This factor is restricting the adoption of pressure-sensitive adhesives across various industries, in result hindering the market growth.

Pressure Sensitive Adhesives Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 8808.7 Mn
Historical Data for:	2017-2020	Estimated Year:	2023
Forecast Period 2023 to 2030 CAGR:	5.62%	Forecast Period:	2023-2030
Geographies covered:	By Regions: North America, Europe, Asia Pacific, Middle East, Africa, and Latin America
Segments covered:	By Product Type: Water based PSA, Solvent Based PSA, Hot Melt PSA, and Radiation Cured PSA By Application: Tapes, Specialty, Labels, Graphics, and 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 Increasing demand for lightweight vehicle Rising popularity of miniaturization of electronic devices
Restraints & Challenges:	Strict environmental regulations regarding the production of pressure sensitive adhesives

Market Trends

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

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

Figure 2. Global Pressure Sensitive Adhesives Market value Share (%), By Application, 2022

Recent Developments

In February 2020, Henkel Adhesives Technologies, opened its new production facility in Kurkumbh, India. This 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 will also help Industry 4.0 operations and will meet the highest standards for sustainability.
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.
The global pressure sensitive adhesives market forecast was valued at $8808.70 Mn in 2022, and is projected to reach $14384.15 Mn by 2030, growing at a CAGR of 5.62% from 2023 to 2030.

Competitive Section

Major players operating in the global pressure-sensitive adhesive 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.

Table of Content

Table of Contents

Segmentation

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

- Frequently Asked Questions -

What was the global pressure-sensitive adhesives market size in 2022?

Global pressure sensitive adhesives market was valued at around US$ 8808.7 Mn in 2022.

What are the major factors that are expected to drive growth of the Market during the forecast period?

Increasing demand for lightweight vehicle, rising popularity of miniaturization of electronic devices, and rapid urbanization are the factors that are expected to drive growth of the market during the forecast period.

What are the trends in the market?

Rapidly growing industrial sector, rising foreign investment, and rising demand for tapes and labels.

What are the key factors hampering growth of the market?

Strict environmental regulations regarding the production of pressure-sensitive adhesives is expected to hinder the market.

Which are the key players in the market?

Major players operating in the 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

What is the estimated CAGR for the market?

The market is estimated to exhibit CAGR of 5.62% in the forecast period (2023-2030).