Luton, Bedfordshire, United Kingdom, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Pressure Sensitive Adhesives Market.
The Pressure Sensitive Adhesives Market handling equipment market is projected to reach USD 16.4 Billion by 2029 from USD 9.7 billion in 2022, at a CAGR of 6.0% from 2023 to 2029.
Pressure-sensitive adhesives are forms of non-reactive adhesives that create a bond after the application of pressure to bond an adhesive with a surface. The special quality of PSAs is that they never solidify while remaining viscous. Therefore, they can potentially wet the surfaces on contact. Growing acceptance due to their ease of adaptability, along with their extensive use in labels and tapes, especially in the Asia Pacific will benefit the worldwide market.
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Recent Developments:
- In September 2020, Wacker launched DEHESIVE PSA 84X, which consists of three solvent-based silicone pressure sensitive adhesives. It features low, medium, and high adhesion forces. The new PSA series has realized the desired adhesion range by cold blending.
- In February 2020, Henkel Adhesives Technologies opened its new production facility in Kurkumbh, Pune, India. 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 will also help a wide range of industry 4.0 operations and meet the highest standards for sustainability.
APAC is the largest and the fastest-growing market in the global PSAs market.
The Asia pacific pressure sensitive adhesive market size is projected to grow at the highest CAGR 6.9% during the forecast period and acquired 35% of pressure sensitive adhesive market share in 2022 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.
China is one of the most promising markets for pressure-sensitive adhesives. It accounts for over 60.0% of the market in the East Asia region and is expected to continue its dominance during the forecast period.
Growth in use of bio-based pressure sensitive adhesives increases the market structure growth
Rising demand for bio-based pressure sensitive adhesives is mostly due to growing environmental concerns. Customers are more inclined to choose bio-based and environmentally friendly pressure sensitive adhesives now that they are aware of the effects that carbon footprints have on the environment. Applications for pressure-sensitive adhesives in the automobile industry are numerous. These include brake shims, wire wrapping, foam & fibre bonding, carpet attachment to various vehicle interior substrates, and assembly. There are bio-based adhesives that can be used to make PSAs. During the anticipated period, market growth is anticipated to be accelerated by the development of pressure sensitive adhesives based on biomaterials.
Report Scope:
| Report Attribute | Details |
| Market Size in 2029 | USD 16.4 Billion |
| CAGR | 6.0% (2023–2029) |
| Base Year | 2021 |
| Forecast Period | 2023–2029 |
| Historical Data | 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technology, Product, End-User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The rising use of pressure-sensitive adhesives in labels and tapes. |
| The rising demand for Pressure Sensitive Adhesives in the Asia Pacific region. |
Pressure Sensitive Adhesives Market Players
The key players of pressure sensitive adhesive market include 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).
Growing environmental concerns are predicted to lead to an increase in the development of bio-based pressure sensitive adhesives, opening up significant business prospects. By reducing carbon footprints, bio-based pressure sensitive adhesives have a positive impact on the environment. They may compete with petroleum-based adhesives since they are made from starch, soy, and vegetable oils. Additionally, bio-derived polyols from soybeans are employed in the production of PSAs. As a result, the market is anticipated to rise due to the increased development of bio-based pressure sensitive adhesives.
Full Report Description, TOC, Table of Figure, Chart, etc.-
https://exactitudeconsultancy.com/reports/12028/pressure-sensitive-adhesives-market/
Key Market Segments: Pressure Sensitive Adhesives Market
Pressure Sensitive Adhesives Market by Chemistry, 2023-2029, (USD Billion) (Kiloton)
- Acrylic PSA
- Rubber PSA
- Silicone PSA
- Others
Pressure Sensitive Adhesives Market by Technology, 2023-2029, (USD Billion) (Kiloton)
- Water-Based PSA
- Solvent-Based PSA
- Hot-Melt PSA
- Radiation PSA
Pressure Sensitive Adhesives Market by Application, 2023-2029, (USD Billion) (Kiloton)
- Tapes
- Labels
- Graphics
Pressure Sensitive Adhesives Market by End Use Industry, 2023-2029, (USD Billion) (Kiloton)
- Packaging
- Electrical, Electronics & Telecommunication
- Automotive & Transportation
- Building & Construction
- Medical & Healthcare
Market Drivers
Surging Demand for Pressure-sensitive Adhesives
The desire for lightweight and low-emission vehicles is fueling the expansion of the pressure-sensitive adhesives market. In the automotive industry, polymer-based hot adhesives are mostly utilised for panel laminating. The need for such adhesives in the automobile sector is also anticipated to expand as people become more conscious of low-weight vehicles' improved fuel economy and reduced pollution. As a result, the need for fuel-efficient automobiles is anticipated to support the expansion of the pressure-sensitive adhesives market globally.
It is anticipated that the growing popularity of miniaturised electronic devices, including as tablets, mobile phones, and portable computers, would boost the growth of the pressure-sensitive adhesives market globally. One of the most well-known instances of electrical device miniaturisation is the smartphone. The demand for these electronic gadgets is rising as urban populations are expanding and disposable incomes rise. Consequently, it is anticipated that the rising popularity of miniaturisation of electronic devices would fuel the expansion of the pressure-sensitive adhesives market globally.
Market Restraints
Government Strict Rules to Hamper Market Growth
The market's expansion is anticipated to be constrained by environmental issues related to the materials used in pressure-sensitive adhesives. Both aquatic and terrestrial animals may be threatened by materials used in the manufacturing of PSA.
The manufacture of pressure-sensitive adhesives is subject to stringent laws and regulations because it poses a number of health risks. This aspect is limiting the use of pressure-sensitive adhesives across a variety of sectors, which is impeding market expansion.
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. They offer greater temperature stability than rubber-based PSAs and are appropriate for long-term, robust applications. The usage of acrylic-based PSA in these sectors—as well as in the construction, electronics, and aerospace industries—is encouraging market expansion.
Water-based PSAs are widely employed in the paper and food and beverage sectors and are becoming incredibly popular on a global scale. The pressure-sensitive adhesives market is anticipated to develop quickly alongside other industrial sectors and end-use industries. Moreover, it is anticipated that continued global urbanisation and economic growth would advance the pressure-sensitive adhesives market growth over the forecast period.
Key features of the study:
- This report will provide an in-depth analysis of the global pressure-sensitive adhesives market, and provides market size (US$ Million & Kilotons) and compound annual growth rate (CAGR%) for the forecast period (2023-2029), considering 2022 as the base year
- It will elucidate 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 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).
- 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.
Key Question Answered
- What is the current scenario of the global pressure sensitive adhesives market?
- What are the major developments impacting the market?
- What are the upcoming technologies in the pressure sensitive adhesives market?
- What will be the major factors impacting market growth during the forecast period?
- What are the driving factors, opportunities, restraints, and challenges that affect the growth of the market?
- What will be the future of the pressure sensitive adhesives market?
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