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Pressure Sensitive Adhesives Market Scenario
Pressure Sensitive Adhesives Market is projected to be worth USD 14.5 Billion by 2030, registering a CAGR of 6.3% during the forecast period (2022 - 2030).This market is projected to achieve prominence during the prediction period. The pressure sensitive adhesives are basically considered to be the non-metallic materials that are highly utilized to bond many materials, especially to their surface with cohesion and adhesion.
The pressure sensitive adhesive consists of some specific features that make it more popular across the world. It basically remains viscous and does not get solidified. This also leads to remaining tacky permanently, and it has the potential to wet the surface. The ease of adaptability, its high demand in the Asia Pacific and its rising use in labels and tapes are some of the important factors which are enhancing the global Pressure Sensitive Adhesives Market Growth over the research period. Moreover, this market demand is growing across the globe because of the increasing advanced technological development in pressure sensitive adhesives tapes.
The global Pressure Sensitive Adhesives Market is classified based on chemistry such as silicon, rubber, acrylic, and others. Compared to the rubber Pressure Sensitive Adhesives, acrylic Pressure Sensitive Adhesives are considered more durable and firm. The acrylics have some good properties that basically provide good environmental resistance, color stability, fast curing time, exceptional anti-aging properties, excellent resistance to temperature, oxidation, and U.V. radiation, high peel, shear, and tack, and exemplary water resistance with a good balance of cohesion and adhesion. Also, it is applicable in different applications because of its suitability and good bonding with polar surfaces like polyesters, glass, polycarbonates and metals, as well as its high-temperature resistance. Likely, Pressure Sensitive Adhesives are increasing their demand across the globe.
COVID-19 Analysis
In 2020, the arrival of Covid-19 had impacted the growth of the Pressure Sensitive Adhesives Market. At this time, the disruption in the manufacturing chain and supply chain has been witnessed.
However, the big market players have spent more money in brand building, research & development, innovations, and fostering effective relationships with customers to enhance their position in the competitive market. Recently, safety measures have been taken to enhance the growth of the market.
Chief Factors Existing In the Market
Key Market DriversThe global Pressure Sensitive Adhesives Market growth is driven due to the rising use of pressure-sensitive adhesives in labels and tapes because of their low cost and eases of use. Moreover, the rising demand for Pressure Sensitive Adhesives in the Asia Pacific region is boosting the market growth during the assessment period. Market Challenges The global Pressure Sensitive Adhesives Market might experience challenges due to the raw material prices of the Pressure Sensitive Adhesives. Moreover, the lack of technical experts and professionals can also be one of the major challenges for the global market. Market Opportunities The global Pressure Sensitive Adhesives Market has lucrative growth opportunities for vendors and manufacturers due to the rising adoption of bio-based pressure-sensitive adhesives across the world. Also, the increasing end-user industries like medical, packaging, and transportation are expected to bring significant opportunities for the global Pressure Sensitive Adhesives Market.Market Restraints The worldwide Pressure Sensitive Adhesives Market Value might get affected due to the rise of advanced technological development in pressure-sensitive adhesives tapes that can occur many technical issues.Moreover, the high strident rules related to Pressure Sensitive Adhesives and raw material prices can also hamper the growth of the global market during the forecast period.
Cumulative Evaluation Of The Market
The present report of the Pressure Sensitive Adhesives Industry has highlighted to demonstrate an exponential growth during the assessment period of 2030. The previous growth report has surpassed the market in terms of market value and market share.
Moreover, the regional market players of the market are contributing highly to generating Pressure Sensitive Adhesives Market Revenue and enhancing the market growth during the analysis time frame.
Segmentation: Global Pressure Sensitive Adhesives Market
Market Segmentation
Segmentally, the Pressure Sensitive Adhesives Market has been divided in terms of technology, end-users and product.
By technologyThe Pressure Sensitive Adhesives Market has been segregated into solvent-based, water-based, radiation, and hot melt based on the technology segment. Among all, the water-based segment is projected to lead the technology segment of thePressure Sensitive Adhesives Market. In different applications, water-based pressure sensitive adhesives are extensively used. This segment is projected to grow in the upcoming year because of its cost-effectiveness, safety associated with its use, and the eco-friendly nature of water-based pressure sensitive adhesives. On the other hand, the hot-melt segment is projected to be the fastest-growing segment of the PSAs market throughout the research period. This segment is fueling the demand for the global market due to the rising application of hot melt technology in the electronics and packaging industry.By end-usersDepending on the end-users segment, the Pressure Sensitive Adhesives Market has been divided into packaging, food & beverages, automotive, construction, etc. These segments are highly contributing to the global market over the review period. By-productsDepending on the product segment, the global Pressure Sensitive Adhesives Market has been classified into Tapes, Graphics Films, Labels, and others. Out of all, the label's product segment is projected to dominate the global market with registering the fastest CAGR over the analysis period. Here, this segment is expanding the Pressure Sensitive Adhesives Market Size due to the increasing logistics and transportation industry across the world. Moreover, the need for warehousing solutions as well as the need for product authentication, security features, and tamper evidence has also increased among the e-commerce industries, which is boosting the global market growth during the review period. On the other hand, the tape product segment is estimated to grow extensively due to the rising medical and healthcare across the world. Moreover, the growth of pressure sensitive tapes is fueling on a large scale in the assessment timeframe.
Regional Analysis
Geographically, the Pressure Sensitive Adhesives Market has been classified into Asia Pacific, Europe, South America, North America, and the rest of the world.
The global Pressure Sensitive Adhesives Market is leading with the contributions of the Asia Pacific regional market. This region is expanding due to the rapid growth in the packaging and automotive industry. Moreover, this region has a huge demand for automobiles because of the easy availability of personal loans and funds as well as the increasing disposable income among individuals. Additionally, the regional market growth is fueling due to the increasing electronics and electrical industry demand. Also, this region consists of major countries like Australia, China, India, Japan, and Indonesia, which thrives on the global Pressure Sensitive Adhesives Market Share. Among these countries, China is projected to register the largest market share in the forecast period because of rapid industrial development and urbanization growth.
The second-largest market for the Pressure Sensitive Adhesives Market has been acquired by North America over the assessment period. This region is driving market growth due to the stringent fuel efficiency norms and VOC emissions regulations. In this region, the U.S. nation is registered to generate the largest market share during the forecast period. Moreover, the European market is anticipated to account for significant growth in the research time frame. Furthermore, the rest of the world is also expecting to witness high industrial growth, which is driving the Pressure Sensitive Adhesives Market growth. Additionally, the market growth is also dependent upon the rising high investment in the automotive and construction sectors.
Competitive Intensity within the Industry
The Pressure, Sensitive Adhesives Industry is growing with the collective efforts of the major key players. Moreover, this market is highly competitive and fragmented due to the presence of small and large market players active across the world. These players include:
- Advance Tapes International Limited (U.K.)
- Nitto Denko Corporation (Japan)
- 3M (U.S.)
- Lintec Corporation (Japan)
- Tesa S.E. (Germany)
- Avery Dennison Corporation (U.S.)
- Intertape Polymer Group, Inc. (Canada)
- Ashland Inc. (U.S.)
- The DOW Chemical Company (U.S.)
- Henkel AG & Company KGaA (Germany)
- B. Fuller Company (U.S.)
- Sika AG (Switzerland)
- Collanos Adhesives AG (Switzerland)
- Jonson Tapes Limited (India)
- Reflex Labels Ltd. (U.K.)
As per the Pressure Sensitive Adhesives Market report, the key players are adopting key strategies in recent developments, including acquisition, expansion, agreement & partnership, and product launch.
Recent Market Developments
In February 2021, the polymers and coatings division of Toyo Ink Group in Japan named Toyochem Co., Ltd. has released its Oribain brand of acrylic adhesive solutions. This solution is a new pressure-sensitive adhesives line for special application in the healthcare sector.
Report Overview
The present report is a combination of qualitative and qualitative analysis. The Pressure Sensitive Adhesives Market report has covered all the major segments of the market that are increasing the market growth during the research period.
It has also covered the market overview, dynamics, regional classifications, competitive landscape, and recent development.
Key Industrial Segments
By technology
- solvent-based,
- water-based,
- radiation,
- hot melt
By end-users
- packaging,
- food & beverages,
- automotive,
- construction
By-products
- Tapes,
- Graphics Films,
- Labels,
- others
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