New York, USA, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Pressure Sensitive Adhesives Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Pressure Sensitive Adhesives Market Information by Technology, Product, End-User, and Region - Forecast till 2030”, the market is estimated to grow at a 6.3% CAGR to reach USD 14.5 Billion by 2030.

Market Synopsis

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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Report Scope:

Market Competitive Landscape:

The affluent companies in the pressure-sensitive adhesives industry include

• Nitto Denko Corporation (Japan)
• Ashland Inc. (U.S.)
• Advance Tapes International Limited (U.K.)
• Lintec Corporation (Japan)
• Avery Dennison Corporation (US)
• Tesa SE (Germany)
• 3M (US)
• H.B. Fuller Company (U.S.)
• Henkel AG & Company KGaA (Germany)
• Collano Adhesives AG (Switzerland)
• The DOW Chemical Company (U.S.)
• Reflex Labels Ltd. (U.K.)
• Jonson Tapes Limited (India)
• Sika AG (Switzerland)
• Intertape Polymer Group Inc. (Canada) 
• Among others.

Market Drivers:

The pressure sensitive adhesives market is favored by the escalating use in the packaging sector. Pressure sensitive adhesives are not only user-friendly but also help deal with multiple adhesion issues in a variety of coatings as well as substrates within the packaging sector. Packaging requirements are growing extremely complex, mostly in the food and beverage space, due to the intensifying competition. This will give rise to favorable growth avenues for the worldwide market, considering the surging use of PSAs since they cater to all these complex requirements. 

Pressures sensitive adhesives also have extensive uses in the building & construction industry, majorly in masking, vapor barriers, flooring, interior design, insulation and roofing linings. The majority of the vendors in the market are taking up strategies to leverage the host of opportunities related to specialty tapes in the construction industry.

In the automotive sector, pressure sensitive adhesives bring down the vehicle's overall weight and bolster the crash performance and provide a perfect counterbalance. This can be a solid reason for the strong demand in the automotive industry.

Market Restraints:

Surging costs of raw materials could be a major challenge for the active players in the pressure sensitive adhesives industry. Varying crude oil prices will also slow down the demand for PSAs, since numerous downstream petrochemical items serve as chief raw materials.

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COVID 19 Analysis

The huge impact of the COVID-19 pandemic has had several devastating consequences on people's health all across the world. The aftermath is associated with a substantial social and economic burden on individuals all around the world. While major policymakers implement new frameworks and industries embrace innovative expansion methods to keep their relevance, people are experiencing a series of mental traumas.

Rising cases have caused emotional and economic problems all across the world, particularly among the elderly. Furthermore, the younger generation is grappling with difficulties as a result of job loss and is turning to family care to deal with the consequences. The focus is mostly on COVID-19 therapy and vaccine research, which diverts attention away from other markets.

Market Segmentation

By Technology

The major technologies considered in the report are water-based, solvent-based, hot melt and radiation. Water-based technology is the top segment in the worldwide market since these are safe and eco-friendly as well as cost-effective. But the fastest progress will be made by the hot melt technology, considering its rising use in the electronics and packaging sectors.

By Product

The primary products include graphics films, labels, tapes, and more. Labels form the leading segment and will also procure the fastest CAGR in the following years, thanks to the extensive deployment in logistics as well as transportation. The expanding e-commerce industry worldwide has also fostered the use of warehousing solutions, elevating the demand for pressure-sensitive labels.

By End-User

End-users discussed in the study are packaging, automotive, electrical & electronics, consumer goods, and others. Pressure-sensitive tapes have extensive use cases in the packaging sector, with applications in bags, envelopes, boxes, pouches, containers, and more. The instant bonding property and user-friendliness of self-adhesive labels as well as tapes bolster their penetration rate within the packaging sector.

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Regional Insights

Backed by the thriving automotive sectors and packaging, the APAC market has gained the highest position out of all the regions. The APAC market growth is encouraged by the surging disposable incomes along with the rise in personal loans as well as funds for automobiles. Other factors driving the business growth include the heightened demand for pressure-sensitive adhesives in the electronics and electrical sector, especially in China, Japan, Indonesia, India, and Australia. These countries are the frontrunners in the regional market. However, the highest momentum has been garnered by China thanks to the rising urbanization rate coupled with the industrial development.

North America will procure the second highest spot in the pressure-sensitive adhesives market in the coming years, on account of the rigid policies and regulations with regard to VOC emissions and fuel efficiency. The U.S. is the most bankable market in the region, due to the augmented product demand in sectors like pharmaceuticals, mining, semiconductors, electronics, telecommunication, financial services, oil & natural gas, manufacturing, textiles and automobiles. FMCG and packaging industry generate the highest demand for pressure sensitive adhesives in the region.

Given the rampant need for construction tapes as well as the imposition of stringent REACH policies, Europe has become one of the most formidable markets. The strong business growth in the region is owing to the contributions from Germany, France, and U.K., where the product demand is mounting in numerous end-use industries.

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