Pressure Sensitive Adhesives Market

The global pressure sensitive adhesives market size was valued at USD 9.9 billion in 2020 and is expanding at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising development of low-cost flexible packaging.

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Pressure-sensitive adhesives are those that stick to a variety of substrates when pressure is applied to them. Pressure-sensitive adhesives' principal bonding mode is based on polar attraction to a substrate's surface. Pressure-sensitive adhesives are made with a variety of adhesive methods, including solvent-based and hot melt. Adhesive components are suspended in a solvent in solvent-based systems, whereas thermoplastic rubbers are combined with oils, tackifiers, and antioxidants in hot melts. Pressure-sensitive adhesives are fluid and do not harden, thus they are always sticky and can moisten surfaces with which they come into touch. Because these adhesives are not real solids, their strength is reduced.

Market Trends, Drivers, Restraints, and Opportunities

• Product innovation and expansion in the flexible packaging industry is estimated to spur market growth in the coming years.
• Shrinking of electronic devices and an increase in demand for radio frequency identification (RFID) and luminous labels in the medical industry is anticipated to boost market expansion during the forecast period.
• Environmental laws governing VOC emissions are projected to hinder market growth.
• Adoption of bio-based pressure sensitive adhesives is expected to offer immense opportunities for the market players.

Scope of the Report

The report on the global pressure sensitive adhesives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Waterborne segment is projected to account for a large market share
Based on technologies, the pressure-sensitive adhesives market is bifurcated into waterborne, solvent-borne, hot melt, and radiation cured. The waterborne segment is expected to constitute a key share of the market during the forecast period owing to the medical and packaging sectors driving demand.
 

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Acrylic segment is expected to expand at a robust pace
On the basis of resins, the pressure-sensitive adhesives market is divided into acrylic, silicone, elastomer, and other resins. The acrylic segment is expected to represent a key share of the market in the coming years owing to its great resistance to oxidation, temperature, and UV radiation, color stability, exceptional anti-ageing characteristics, a good balance of adhesion and cohesiveness with superior water resistance, and high peel, tack, and shear. They are excellent for usage in a variety of applications because of their high-temperature resistance and strong bonding with polar surfaces such as metal, glass, polyesters, and polycarbonates, which is why they have such a large part of the pressure-sensitive adhesives market.

Tapes segment is anticipated to register at a rapid CAGR
In terms of applications, the pressure-sensitive adhesives market is segregated into tapes, label, graphics, and other applications. The tapes segment is expected to hold a key share of the market in the coming years owing to its simplicity of usage and low cost as compared to previous techniques.

Packaging segment is projected to constitute a key market share
Based on end-user industries, the pressure-sensitive adhesives market is divided into packaging, woodworking and joinery, medical, commercial graphics, transportation, electronics, and other end-user industries. The packaging segment is expected to account for a key share of the market during the forecast period owing to ensuring that the product packaging is in good condition till it is delivered to the customer. Packaging operations require a dependable adhesive to fulfil the increasingly complicated packaging demands as the number of new goods and product proliferation increases.

PSAs provide a quick approach to get items compliant and ready to sell. Pressure-sensitive adhesives are more discreet than conventional tape and safer than glue sticks. Pressure-sensitive adhesives, unlike glue sticks, do not require heat for application. The lack of heat prevents plant employees from getting burned and enhances their safety.

Asia Pacific is anticipated to dominate the market
On the basis of regions, the pressure-sensitive adhesives market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to dominate the market CAGR during the forecast period. The regional market growth can be attributed to the increasing need for tapes and labels.

Over 80% of the demand for pressure-sensitive adhesives comes from China, India, Japan, and South Korea. China is a significant supplier of adhesive goods (tapes, labels, etc.), and the majority of its clients are concerned about the product's quality, the vendor's product variety, and decreasing adhesive dosage and waste. As a result, multinational players now have a monopoly on the Chinese market for pressure-sensitive adhesives. The same motive motivates people to stay in their hometown.
 

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Segments

Segments Covered in the Report
The global pressure-sensitive adhesives market has been segmented on the basis of

Technologies

• Waterborne
• Solvent-borne
• Hot Melt
• Radiation Cured

Resins

• Acrylic
• Silicone
• Elastomer
• Other Resins

Applications

• Tapes
• Label
• Graphics
• Other Applications

End-user industries

• Packaging
• Woodworking and Joinery
• Medical
• Commercial Graphics
• Transportation
• Electronics
• Other End-user Industries

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Avery Dennison Corporation
• Arkema Group
• The Dow Chemical Company
• Henkel AG & Co. KGaA
• The 3M Company
• H.B. Fuller Company
• Sika AG
• Collano Adhesives AG
• Ashland Inc.
• LG Chem Ltd.

Competitive Landscape

Key players competing in the pressure-sensitive adhesives market include Avery Dennison Corporation, Arkema Group, The Dow Chemical Company, Henkel AG & Co. KGaA, The 3M Company, H.B. Fuller Company, Sika AG, Collano Adhesives AG, Ashland Inc., and LG Chem Ltd.