According to a new research report by Global Market Insights Inc., the pressure sensitive adhesives market size is expected to surpass $10.5 billion by 2026.
Extensive usage of labels and tapes in different industries to have a significant impact
Growing concern associated with vehicle weight reduction is expected to be the crucial factor prospering the market growth. Pressure sensitive adhesives (PSAs) are prominently used in tapes and labels which is a thin flexible material and offers reduced weight features in the automotive components. Increasing use of tapes and labels in the production of lightweight vehicles to increase fuel efficiency will surge the PSA demand.
Pressure sensitive adhesives are widely used as packaging tapes, general-purpose labels, and in direct food-contact applications. The product bonds dissimilar material without any incompatibility concerns and eliminates the need for surface refinishing. Also, PSAs exhibit excellent resistance to heat and solvent; and offers easy application characteristics, which further drives the pressure sensitive adhesives market growth.
However, PSAs pose a problem during recycling of paper as the adhesive particles do not dissolve in water and are deformed under heat, making it difficult to filter out of the pulp. Also, production of pressure sensitive adhesives results in release of VOCs and other wastes which pollutes the environment and human health.
Browse key industry insights spread across 390 pages with 477 market data tables & 26 figures & charts from the report, “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 Sector (Food & Beverage, Packaging, Electronics & Laminates, Medical & Healthcare, Building & Construction, Automotive & Transportation), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
The hot melt technology is projected to develop at the highest CAGR above 7% by 2026. This is largely due to its unique bonding properties, as it can melt readily in ambient temperature and solidifies rapidly upon cooling to form strong bonds between the substrates. Along with excellent tackiness, it possesses faster setup times than other PSAs and is used in marketing applications.
The silicone product segment is estimated to reach over USD 230 million during the review period. The product exhibits exceptional resistance to chemical and moisture, which helps in maintaining good tack and shear properties. Also, it can be used for a broad range of surfaces with good balance of peel adhesion and tack properties. It is used in the coating of film and fabric substrates for production of industrial PSA tapes.
Films and laminates will have substantial pressure sensitive adhesives market share throughout the forecast timespan. PSAs used in films and laminates offer protection against abrasion and weathering; and improves the visual appearance. It finds wide application in vehicle graphics, flexible graphics, exhibit systems, retractable banner stands, indoor displays & outdoor signage, etc.
The medical & healthcare end-use is estimated to register the highest CAGR in the forecast timeline. Pressure sensitive adhesives are used in the manufacturing of various medical appliances as it bonds and seals together various layers of the device easily and quickly. Its main usage is in surgical drape, first aid dressing, insulin pump, and ostomy appliances, and monitor face plates.
Europe to witness moderate growth over coming years
European region is likely to account for around one-fourth market in pressure sensitive adhesives market of by the end of forecast timeline. This is largely due to the strong automotive base coupled with stringent vehicle emission standards, driving the product demand in the production of lightweight vehicles. Also, the region offers lucrative opportunities in packed foods and beverages where there is substantial consumption of PSA-based tapes and labels, further surging the regional market growth.
Manufacturers focusing on acquisitions and capacity expansion to gain competitive edge
Some participants in the pressure sensitive adhesives industry include Sika AG, 3M, DowDuPont, Momentive Performance Materials, Wacker Chemie AG, Arkema, H. B. Fuller, LG Chem, Henkel AG & Co, Mapei, Avery Dennison Corp, Franklin International, Ashland, Beardow Adams, Mactac Performance Adhesive, Evonik Industries AG, and Powerband Industries. Strategies such as new product launches, acquisition agreements, and expansions are incorporated by key industry players to gain significant position in the market.
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