Pressure Sensitive Adhesives Market Insights
The global pressure sensitive adhesives market is estimated to witness a high CAGR during the forecast period (2019-2026). Growing demand for pressure sensitive tapes and labels from the packaging industry is driving the market growth. Superior bonding, and inhibit corrosion are some of the major factors driving the market. Pressure sensitive adhesive products are used as an alternative to bolts, rivets, and other fasteners in vehicles to improve the speed. The fluctuations in raw materials prices of rubber, silicone, and acrylic among other chemicals are likely to hamper the market growth during the forecast period.
Pressure Sensitive Adhesives Market: By Technology
On the basis of technology, the global pressure sensitive adhesives market is segmented into water-based, solvent-based, hot melt, and radiation-cured. The Water-based technology is expected to hold the largest market share during the forecast period. Growing demand for eco-friendly pressure sensitive adhesives is the major factor driving the market for water based technology. Water based technology is used in the production of removable labels, pharmaceutical labels and permanent labels. Solvent-based technology is expected to grow at a significant CAGR during the forecast period. The unique characteristics of solvent based technology include high adhesion, good bonding to curved surface, excellent plasticizer resistance, and high viscosity. This technology is widely used in optical applications. The demand for hot melt technology is expected to grow because of its lower cost compared to other technologies.
Pressure Sensitive Adhesives Market: By Product
On the basis of product, the market is segmented into tapes, labels, and graphic films among others. Tapes segment is expected to hold the significant market share during the forecast period. Tapes are extensively utilized for carton sealing in packaging sector. They are used in various assembly applications, such as electronic and automotive assembly units. These products are eco-friendly in nature and are light in weight compared to other products. Labels segment is expected to grow at a high CAGR during the forecast period. The demand for labels is driven by increasing consumption in different end-use industries, such as medical & healthcare, packaging, and electronics, electrical & telecommunication among others. The increasing branding and advertisement activities in major corporates and FMCG companies across the globe are driving the market of graphic films’ products during the forecast period.
Pressure Sensitive Adhesives Market: By Chemistry
Based on chemistry, the pressure sensitive adhesives market is segmented into acrylic, rubber, and silicone among others. Acrylic segment is dominating the market and is projected to grow at a high CAGR in terms of revenue during the forecast period. The easy molding property of acrylic is expected to drive the market. The demand for silicon based products are expected to grow in the coming years. Silicone products are characterized by extreme weather resistance and have longer durability as compared to acrylic and rubber products.
Pressure Sensitive Adhesives Market: By End Use
On the basis of end-use industry, the pressure sensitive adhesives market is segmented into automotive, electronics, consumer goods, packaging, and construction among others. The packaging industry is estimated to account for the largest market share, in terms of volume, during the forecast period (2019-2026). The user-friendly nature and instant bonding offered by tapes and self-adhesive labels are the major factors driving the product demand in the packaging industry. The consumer goods industry is estimated to grow at the highest CAGR between 2019 and 2026, in terms of value. Increasing per capita income and improving living standards are driving the demand for consumer goods industry.
Pressure Sensitive Adhesives Market: By Region
Asia Pacific is expected to witness considerable growth in the pressure sensitive adhesives market during the forecast period. Asia Pacific has emerged as the leading producer of pressure sensitive adhesives. The expanding manufacturing sector and increasing foreign investments in the region are the major factors driving the pressure sensitive adhesives market growth. Europe witnessed a stronger demand for construction tapes in 2018. The growing construction projects in Germany, UK, Spain, and France are the major factors propelling the market growth in this region.
Pressure Sensitive Adhesives Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are Graham packaging, Bemis packaging, Nestle and Samsung among others.
Pressure Sensitive Adhesives Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the pressure sensitive adhesives market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Pressure Sensitive Adhesives Market Share & Competitor Analysis
Some of the key players operating in the pressure sensitive adhesives market are Dow Dupont Inc., BASF SE, Henkel, 3M, Arkema, Sika, Momentive, Avery Dennison, Ashland and H.B. Fuller among others.
In May 2019, Henkel acquired Molecule Corp.- a U.S based company focused on additive manufacturing.
In May 2018, Ashland launched a new Aroset 2100 pressure sensitive adhesives’ for tape and label applications.