Pressure Sensitive Adhesives Market Size By Technology (Water-based, Solvent-based, Hot-melt, UV-cured), By Product (Rubber-based, Acrylic, Silicone), By Application (Tapes, Labels, Graphics, Films & Laminates), By End-user (Food & Beverage, Packaging, Electronics & Laminates, Medical & Healthcare, Building & Construction, Automotive & Transportation), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Published Date: January 2018 | 300 Pages | Report ID: GMI2385 Report Format: PDF
Pressure Sensitive Adhesives Market size was valued at over USD 7 billion in 2016 and the industry will grow by a CAGR of more than 5.5% up to 2024.
U.S. Pressure Sensitive Adhesives Market Size, by Product, 2013 – 2024 (USD Million)
Packaging plays a noteworthy role in any product appearance and so does the labels that provide the product information to the buyers. Labels are crucial in the products appearance and also help the buyers to gain information regarding the ingredients, health risks, several directions, warnings, and the savings, thus enabling the customers to decide which item to buy and which one to avoid. Labels on medicines and other pharma products are also very important owing to its content levels and side effects. PSA labels are vastly used in box and packets packaging of food & beverages, cosmetics, medical and other consumer goods. Rising packaging industry fueled by growth in the medical, food & beverages & cosmetic sectors is said to foster the pressure sensitive adhesives market in near future.
Moreover, rapidly growing sustainable packaging for environmental conservation and reduction of ecological footprints by using bio-based PSAs will propel the psa market. European government have enacted stringent regulations for volatile organic compound (VOC) emissions as these cause health hazards which include eye, nose, and throat irritation; nausea; headaches, loss of coordination, and damage to the liver, kidney, and central nervous system. Bio-based PSAs are latex-based and find wide applications just as the normal PSAs. Development in this sector will further propel the industry growth.
Some of the PSAs are recycling compatible and do not cause problems while recycling process, whereas a significant number of PSAs can create problems in the paper recycling systems. The system uses water as a medium to transform the recovered paper tapes & labels into pulp. These do not dissolve in water as they are not recycling compatible and form small fragments during the recycling process which can cause huge damage to the equipment. These can be considered as restraining factors slowing down the psa market growth.
Pressure Sensitive Adhesives Market, By Technology
Pressure sensitive adhesives industry is segmented based on technology in four broad categories as water-based, solvent-based, hot-melt, and UV-cured. Water-based PSAs are comparatively less expensive than the solvent-based ones and find major application in labels and advertising whereas solvent-based PSAs are mainly used in optical films. In 2016, water-based PSA segment was valued over USD 2.5 billion to seize approximately 35% of the entire market share.
Solvent-based PSAs consist of polymers, tackifiers, solvents, etc. dissolved together and applied to the material. Solvent-based involved processes are 95% efficient in treating effluents. Hot-melt psa market is said to grow with a CAGR of over 5% in the coming seven years. The segment finds usage across various industries such as medical, automobiles, packaging, appliances, and electronic devices.
Pressure Sensitive Adhesives Market, By Product
The industry is segmented on the basis of product in four broad categories as rubber-based, acrylic-based, silicone, and others. Rubber-based adhesives are formulated from organic resins and rubber, are comparatively less expensive, and are designed for general purpose applications. The product finds major applications in the tapes and labels industry owing to its favorable properties. In 2016, the segment was valued close to USD 2 billion to capture approximately one third of the entire pressure sensitive adhesives market share.
Acrylic-based is one of the important class PSAs which have triggered the psa market. These water or solvent based acrylic PSAs possess superior heat and oxygen resistance properties than the rubber-based adhesives. This is typically due to the absence of double bonds in rubber. The segment held a share in excess of USD 1.7 billion in the global market in 2016 and is said to grow with a CAGR close to 5% in the forecast timespan.
Pressure Sensitive Adhesives Market, By Application
On the basis of application, pressure sensitive adhesives market is classified into five major segments mainly, tapes, labels, graphics, films & laminates, and others. The others section includes automotive trims, dental adhesives, etc. Based on revenue, tapes segment holds a major share close to 35% in the entire industry. The segment is said to grow with a CAGR of over 5.5% in the forecast period.
Labels segment holds a notable share in the entire product industry and will grow with a highest CAGR in the coming years. Labels find extensive application in various end-user sectors such as medical & healthcare, electrical & electronics, packaging, consumer goods, food & beverages, heating, ventilation & air conditioning. and others. Films & laminates segment will hold a share close to a tenth of the global market.
Pressure Sensitive Adhesives Market, By End-user
PSA market is segmented on the basis of end-user industries into seven broad categories as food & beverages, packaging, electronics & laminates, medical & healthcare, building & construction, automotive & transportation, and others. The others segment includes power generation, printing & paper, leather & footwear, etc. Packaging segment holds a major share close to 30% and is said to grow with a CAGR of over 6% in the forecast period.
Electronics and laminates segment holds a prominent share in the global psa market and will grow with a highest CAGR in the coming years. Food & beverage segment is said to surpass USD 2 billion by 2024. Medical & healthcare segment is said to exhibit growth at over 5% CAGR in the forecast period.
Pressure Sensitive Adhesives Industry, By Region
As per region, Asia Pacific holds a major share in the global psa market. Emerging electronics, packaging, food & beverages, and medical industry due to economic development and increasing manufacturing activities will foster the product demand in near future. The region accounted for a market size of over USD 2.5 billion and will witness growth with an exponential rate of over 6% in the forecast spell.
North America will display a moderate growth in PSA industry owing to the mellowed market in this region. In 2016, North American segment accounted for over a fifth of the entire industry whereas European region will grow at a lethargic pace owing to regulations imposed by the government regarding the VOC emissions. In 2016, the segment accounted for USD 1.7 billion in the global market.
Competitive Market Share
Pressure sensitive adhesives market is fragmented and has huge number of companies in operating in the industry. Prominent players functioning in the industry include BASF, Avery Dennison, H B Fuller, Arkema, Henkel, 3M, Sika, Dow Corning, Momentive, Wacker Chemie, LG Chem, Evonik, Mapei, Ashland, and Bostic to name a few.
Products of these companies have their applications in various industries owing to its wide usage. Most of the large companies operating in the market have huge integration in their businesses. For instance, BASF is one of the leading manufacturers of raw materials used in the production of PSAs. The company also produces various adhesives which further find application in majority of the end-user industries.
Pressure sensitive adhesives industry will foresee significant growth in the coming years owing to significant growth in the packaging industry. Increasing product manufacturing activities in developing countries of Asia Pacific and Latin America will further enhance the psa market. Increasing packaging applications of finished products will, in turn, drive the global product industry in future years.
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