Pressure-sensitive adhesives are binding substances that are applied to prevent the separation of two surfaces. These adhesives are non-reactive and provides superior bonding property. Labels, graphics, tapes, and medicals are some of the key applications of pressure-sensitive adhesives. Automotive, construction, healthcare, consumer goods, packaging, and electronics are some of the key end users of pressure-sensitive adhesives.
Global pressure-sensitive adhesives Market was valued at US$ 8808.70 Mn in 2022. Global Pressure-Sensitive Adhesives Market is expected to register a CAGR of 5.62 % over the forecast period (2023–2030), to reach US$ 14384.15 Mn by 2030.
To know the latest trends and insights prevalent in this market, click the link below:
Key Trends and Analysis of the Global Pressure Sensitive Adhesives Market:
Asia Pacific Witnessed a Significant Market Growth
Asia Pacific held a dominant position in pressure-sensitive adhesives market. The packaging industry in Asia Pacific showcased huge potential. PSA labels mostly find their use in this industry. Hence, it accounted for the largest market share.
Key Takeaways of the Global Pressure Sensitive Adhesives Market:
Impact of Covid-19 on the Global Pressure Sensitive Adhesives Market
The Coronavirus pandemic is an incomparable global public health emergency that has severely affected almost every industry. The adhesives and sealants companies are facing various challenges, owing to the Covid-19 pandemic which led to transportation-related delays arising from travel restrictions. This has impacted supplies of raw materials for adhesives. However, the economic condition is stemming from the pandemic and this is expected to provide lucrative opportunities to key players to regain their position in the market.