The global pressure sensitive
adhesives market is expected to reach USD 14.20 billion by 2024, according to a
new report by Grand View Research, Inc. The global industry growth has been
driven by high consumption in packaging, automotive, consumer goods, and
construction industries.
Pressure sensitive adhesive
applications are found to be cost effective in stark contrast to the
conventional mechanical fastening methods such as brazing and welding. They
form a tight bond between close fitting surfaces that neither damages the paint
and laminating surfaces nor causes corrosion associated with using metal
fasteners.
In light of tightening regulatory
intervention to improve fuel efficiency resulting in reduced carbon and Green
House Gas (GHG) emissions, automotive OEMs are forced to adopt plastics as a
replacement to metals such asaluminum and steel, thereby stimulating PSA
demand.
Packaging was the leading end-use
segment accounting for over 25% of market volume in 2015. Growing demand for
labeling and packaging applications making use of PSA owing to improved
inventory management and cost effectiveness is expected to support growth.
In depth research report on Pressure Sensitive Adhesives Market
Further key findings from the report suggest:
•
The global pressure sensitive
adhesives market size was over 2,800 kilo tons in 2015 and is expected to
exceed 4,000 kilo tons by 2024, growing at an estimated CAGR of 4.8% from 2016
to 2024.
•
Water-based PSA is expected to be the
fastest growing technology segment owing to their low cost and
environment-friendly characteristic.
•
Labels emerged as the dominant
product segment with growth driven by increasing demand for RFID labels and retail
labeling applications.
•
Asia Pacific was the leading regional
market witnessing growth in key end-use industries such as automotive,
packaging and electrical & electronics.
•
Medical & healthcare segment is
expected to provide growth opportunities as a result of rising awareness of
patient’s health safety &and requirements on pharmaceutical labeling.
•
Graphics though holds a small share
compared to labels and tapes is a potential future market due to diverse
applications in home décor and cushioning.
•
Theindustry is highly fragmented with
presence of both, multinational players and small domestic companies.
•
Major industry participants in
include The Dow Chemical Company, H.B. Fuller, Ashland, Inc., Henkel, 3M and
Avery Dennison.
Grand View Research has segmented the
pressure sensitive adhesives market on the basis of product, end-use,
technology and region:
Pressure Sensitive Adhesives Technology Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
•
Water-Based
•
Solvent-Based
•
Hot-Melt
•
Radiation
Pressure Sensitive Adhesives Product Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2014 - 2024)
•
Tapes
•
Labels
•
Graphic Films
•
Specialty
•
Others
Pressure Sensitive Adhesives End-Use Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2014 - 2024)
•
Automotive & Transportation
•
Electrical & Electronics
•
Consumer Goods
•
Packaging
•
Construction
•
Others
Pressure Sensitive Adhesives Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
•
North America
o
U.S.
o
Canada
o
Mexico
•
Europe
o
Germany
o
UK
•
Asia Pacific
o
India
o
China
o
Japan
•
Central & South America
o
Brazil
•
Middle East & Africa
Browse more research reports of this category:
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
No comments:
Post a Comment