Global Pressure Sensitive Adhesives Market Size Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Pressure Sensitive Adhesives Market


The global Pressure Sensitive Adhesives market size is projected to reach US$ 15.56 billion by 2026, from US$ 12.09 billion in 2020, at a CAGR of 4.3% during 2021-2026. The market is anticipated to be driven by the significant demand for pressure sensitive tapes and labels from the packaging industry. Pressure sensitive adhesives (PSAs) are easy to use and have the ability to tackle adhesion challenges in a variety of substrates and coatings in packaging industry.
Packaging requirements are becoming increasingly complex, especially in the food & beverages industry, due to product proliferation and rising competition. This will open new avenues for the market as PSAs offer the flexibility to meet these complex requirements. PSAs are also used in other industries, such as automotive, wherein it finds applications in safety and warning labels and component identification labels in the supply chain.

About 1 square meter of label is typically used in an average car, wherein only 10 to 15% of the labels are tire pressure and warning labels, which are visible to car owners. The rest of the labels, that remain unseen to the car owner, are applied on automotive parts. They are used to denote the part number and product sepecification, during its assembly.

However, increasing prices of raw materials is the significant factor affecting the manufacturers, which may hinder market growth. The primary raw materials used in the manufacturing of PSAs include acrylic polymers, rubber based polymers, silicone polymers, tackifiers, and additives.

Market Segmentation, Outlook & Viewpoint: Global Pressure Sensitive Adhesives Market

Technology Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

Water-based

Solvent-based

Hot Melt

Radiation-cured

  
Radiation-cured Hot Melt
  
Radiation-cured Syrup-based

Adhesive Chemistry Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Acrylic
  
Rubber
  
Silicone
  
Others

Product Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Tapes
  
Labels
  
Graphic Films
  
Others

End Use Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Automotive
  
Electronics
  
Consumer Goods
  
Packaging
  
Construction
  
Others

Key Players, Recent Developments & Regional Insights: Global Pressure Sensitive Adhesives Market

Tapes dominated the market and accounted for 69.1% of the global volume in 2018. Tapes are extensively utilized for carton sealing in packaging sector. Moreover, they are used in various assembly applications, such as automotive and electronic assembly. The eco-friendly nature, ease of use, and lighter weight of the product as compared to other joining and fastening methods are expected to drive the demand in assembly applications.

Demand in labels is driven by increasing utilization of food labels, clear labels, packing lists, envelopes, general purpose permanent labels, fabric labels, tire labels, removable labels, specialty labels, and durable labels. Self-adhesive labels derived from acrylic emulsions are extensively utilized in labeling industry owing to their superior characteristics. They allow wider webs, faster speeds, and overall better uptime during converting as compared to other labels.

Pressure sensitive adhesives are used in graphic films across numerous applications including road traffic signage, branding graphics, advertising graphics, large format weather-resistant graphics, home decor, point-of-purchase promotions, outdoor advertising, and vehicle graphics.Branding and advertising graphics are gaining more emphasis in corporate strategies of multinational companies as a brand logo and advertising play a crucial role in influencing the consumer demand.

End Use Insights

Packaging segment dominated the pressure sensitive adhesives market in 2018. Tapes find various applications in packaging industry ranging from containers, boxes, and envelopes to bank bags and pouches. Self-adhesive labels are extensively utilized for packaged food & beverages, beauty products, warehouse boxes, jars, pharmaceutical and packaging among others. The user-friendly nature and instant bonding speed offered by tapes and self-adhesive labels are the major factors driving the the product demand in the packaging industry.

PSAs are also used in building & construction industry for applications, such as flooring, vapor barriers, roofing linings, masking, insulation, and interior design. Companies are undertaking numerous strategies to identify and explore the opportunities for specialty tapes in the construction industry. For instance, The Pressure Sensitive Tape Council (PSTC) conducted an event pertaining to the use of PSAs in building & construction industry in May 2019 in Baltimore.

In automotive industry, pressure sensitive adhesives provide a cost-effective solution to car manufacturers for improving the speed and efficiency of assembly operations. Furthermore, they improve productivity in complex assembly operations. PSAs contribute to ensuring the light weight of cars, thereby improving crash performance and providing an ideal counterbalance. Furthermore, eco-friendly and efficient electric cars are expected to replace combustion engines and redefine the requirements for vehicle manufacturing. This is expected to benefit the market over the coming years.

Adhesive Chemistry Insights

Acrylics dominated the market with a revenue share in 2018. They are formulated by reacting suitable acrylic monomers, which are later cross-linked to form the required polymer. Acrylic-based PSAs are extensively utilized owing to their oxidation and UV resistance. They are generally used on paper and polar surfaces like steel, glass, aluminum, zinc, polycarbonate, tin, and Polyvinyl Chloride (PVC).

Rubber-based products are typically based on hot melt and solvent-based systems. The adoption of rubber-based products in tapes is driven by their ability to provide quick adhesion on rough and smooth surfaces alike. As opposed to acrylic, rubber-based products are extensively utilized on non-polar, low-energy surfaces. Moreover, they offer a more economical choice for tapes manufacturers.

In terms of revenue, silicone-based products are estimated to witness the fastest CAGR of 5.6% over the forecast period. The use of this formulation is driven by their ability to provide adhesion to silicon and other substrates that are difficult to adhere. In addition, silicone formulations are characterized by extreme weather resistance and have longer durability as compared to acrylics and rubber. However, the large scale adoption of silicone-based PSAs is restricted by their significantly higher cost as compared to acrylics and rubber.

Regional Insights

North America accounted for 25.6% of the revenue share in 2018. With increased corporate emphasis and government spending on emerging technologies, innovation, novel materials, and sustainability, PSAs based on UV/EB technology are anticipated to expand at a rapid pace in North America.

As compared to other regions, Europe witnessed a stronger demand for construction tapes in 2018. The market is characterized by the presence of stringent REACH regulations that have slowed down the market growth in the region. Germany, France, and U.K. led the European market, in terms of product consumption, in 2018.
In terms of revenue, Asia Pacific is estimated to be the fastest-growing regional market over the forecast period. Rapidly expanding manufacturing sector and increasing foreign investments in the region are expected to play a key role in regional market growth.

Brazil, Argentina, and Chile are the major countries in CSA. Installations of ancillary printers and presses are expected to increase owing to the abolishment of import restrictions in Argentina. Recovery of industrial production in Brazil after a period of recession is anticipated to boost the market growth in the country.
Pressure Sensitive Adhesives Market Share Insights

3M Company, Avery Dennison, and Henkel are the global leaders in the market owing to their high expertise, extensive product portfolio, and continuing strategic initiatives like acquisition and new product launches. These companies are highly integrated in their manufacturing operations.

Key Insights Covered: Global Pressure Sensitive Adhesives Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Pressure Sensitive Adhesives industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Pressure Sensitive Adhesives industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Pressure Sensitive Adhesives industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Pressure Sensitive Adhesives industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Pressure Sensitive Adhesives industry.

Research Methodology: Global Pressure Sensitive Adhesives Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other