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
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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.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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