The global pressure sensitive adhesives market was valued at $8,408 million in 2016, and is expected to reach at $12,963 million in 2023, growing at a CAGR of 6.4% from 2017 to 2023. Pressure sensitive adhesives, also referred as self-stick adhesives are materials, which adhere two similar or dissimilar surfaces together through surface contact, when pressure is applied. These adhesives do not need activation by heat, solvent or water to apply holding force on various materials. They are either removable or permanent and have the ability to match wide variety of substrates.
The increase in demand for commodities and appliances globally have influenced market growth across several countries. Application of pressure sensitive adhesive (PSA) in the manufacturing graphics, label, and others have enabled the market to generate huge profits. Conversely, notable growth in the automobile sector in countries, such as China and India is expected to create greater opportunities in the next five to six years. Fluctuating prices of raw materials and stringent government regulations are major factor expected to limit the market growth. Strong government support for foreign direct investment and less political intervention are factors expected to open new avenues for the pressure sensitive adhesives market.
The report segments the pressure sensitive adhesives market on the basis of composition, type, application, end user, and geography. Based on composition, it is divided into acrylic, rubber, ethylene vinyl acetate (EVA), silicone, polyurethane, and others (polypropylene and polyisobutene). Acrylic segment is further classified into water-based and solvent-based pressure sensitive adhesives. Rubber segment is further divided into natural rubber and synthetic rubber. Based on type, the market is categorized into water based, hot melts, solvent based and radiation based. Water-based segment is further sub-divided into one-component water-based and two-component water-based. Solvent-based pressure sensitive adhesives are further bifurcated into one-component solvent-based and two-component solvent-based and radiation based is further segmented into UV and electron beam. Based on different applications, the market is classified into labels, medical, graphics, tapes, and others (laminations). Medical segment is bifurcated into hygiene products, bandages & tapes, and others (wound dressings and medical devices assembly). According to end-use industry, the market is categorized into automotive, packaging, building & construction, electronics, medical, consumer goods, and others (industrial assembly, footwear, and paper & printing industry). Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
In July 2015, Bostik SA (Arkema) expanded its hot melt pressure sensitive adhesives (HMPSA) production in Bangalore and India to widen its geographical outreach in the emerging markets.
Major players operating in this market include the following:
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By End Use Industry
(Companies mentioned above are not profiled in the report, but can be profiled upon client request.)
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