Pressure Sensitive Adhesives Market

Pressure Sensitive Adhesives Market Outlook 2031

• The global pressure sensitive adhesives market was valued at US$ 7.9 Bn in 2021
• It is estimated to expand at a CAGR of 5.2% from 2022 to 2031
• The global pressure sensitive adhesives market is expected to reach the value of US$ 13.8 Bn by the end of 2031

Analysts’ Viewpoint on Pressure Sensitive Adhesives Market Scenario

Companies in the global pressure sensitive adhesives market are expected to focus on technological innovations in PSAs to gain a competitive edge over other market players. Manufacturers can pivot on the development of eco-friendly adhesives to prevent environmental pollution similar to bio-based PSAs that tend to lower carbon footprint, as they are derived from starch, soy, and vegetable oils, and can be used as a significant alternative to petroleum-based adhesives. Moreover, market players can leverage growing and complex needs of healthcare and packaging industries to further improve their product portfolio. Pressure sensitive adhesives also find application in various other end-use industries such as construction, automotive, electronics, etc. due to their excellent strength and heat insulation properties. However, fluctuating raw material prices for producing these adhesives is expected to hinder the market growth in the upcoming years. Hence, companies should invest in data-driven research and predictive analysis to overcome the volatility of feedstock prices.

Rise in Use of Bio-based Pressure Sensitive Adhesives

Increase in environmental concerns is a major factor responsible for the rising demand for bio-based pressure sensitive adhesives. Consumers are aware about environmental impacts of carbon footprints, and hence, they are more likely to opt for bio-based and environment-friendly pressure sensitive adhesives. Pressure sensitive adhesives are keenly used in a variety of automotive applications. These applications include assembly, wire wrapping, foam & fiber bonding, securing carpets to different vehicle interior substrates, brake shims, etc. Bio-based adhesives can be used in manufacturing of PSAs. The development of bio-based pressure sensitive adhesives is expected to accelerate market growth during the forecast period.

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Pressure Sensitive Adhesives Gain Popularity Due to Ease of Use and Cost Efficiency

The growing popularity of miniaturization of electronic devices such as smartphones, computers, and tablets is projected to fuel the market for pressure sensitive adhesives due to its ease of use and low cost. Thus, the popularity and demand for such electronic devices due to increasing disposable income is driving the pressure sensitive adhesives. market

Pressure sensitive adhesives are also used in various packaging and healthcare applications across the globe. They are being increasingly adopted in numerous end-use industries due to their properties such as excellent strength, heat insulation, appropriate sealing, and resistance against moisture.

In addition, use of pressure sensitive adhesives for branding and advertising, advertising graphics, road traffic signage, branding graphics, large format weather-resistant graphics, outdoor advertising, and vehicle graphics are increasing due to urbanization and industrial growth. This factor is also expected to create significant growth opportunities for the manufacturers in the global pressure sensitive adhesives market.

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Convenience and High Bond Strength of Water-based Pressure Sensitive Adhesives to Drive Demand

Water-based pressure sensitive adhesives are used in different industries such as packaging, electrical, electronics & telecommunication, medical & healthcare, and automotive. The surging demand for pressure sensitive tapes, labels, glue dots, note pads, automobile trims, amid the COVID-19 pandemic has created revenue streams for manufacturers. Moreover, water-based pressure sensitive adhesives are gaining popularity in the construction industry across the globe, owing to their convenience, bond strength, and less processing time. Increasing applications in food packaging is one of the major factors contributing to the rising demand for water-based pressure sensitive adhesives.

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Increase in Application of Pressure Sensitive Adhesives in Automobiles

Due to the increasing demand for fuel-efficient and lightweight vehicles, manufacturers are using pressure sensitive adhesives for various parts of an automobile. In the automobile industry, pressure sensitive adhesives such as polymer-based and hot adhesives are used for panel laminations and trims. The growing awareness about low-emissive and highly efficient vehicles is creating tremendous opportunities for manufacturers operating in the global pressure sensitive adhesives market.

Asia Pacific to Offer Profitable Opportunities

Asia Pacific is expected to dominate the global pressure sensitive adhesives market during the forecast period, owing to increasing applications of tapes, labels, graphics, etc. China is a leading market in exporting pressure sensitive adhesives. Moreover, expansion of industries such as packaging, healthcare, automotive & transportation, and building & construction in India, South Korea, Indonesia, and Taiwan is attributable to the rise in demand for pressure sensitive adhesives in the region.

Europe is also expected to offer growth opportunities to the pressure sensitive adhesives market players, as there is an increase in demand for these adhesives for use in healthcare and construction applications, majorly from Germany.

Pressure Sensitive Adhesives Market: Overview

• Pressure sensitive adhesives are utilized in a variety of automotive applications, including assembly, securing carpets to different vehicle interior substrates, brake shims, wire wrapping, foam & fiber bonding, and securing gaskets in a variety of configurations
• Polypropylene is utilized to replace medium surface energy materials used in convectional fuel tanks. To avoid melting, this tank requires appropriate heat shielding from vehicle temperature. Thus, acrylic modified PSAs are excellent alternatives due to their resilience to high temperatures, chemicals, gasoline, and other fluids. This is expected to have a significant impact on the global market for pressure sensitive adhesives.
• According to Transparency Market Research’s latest research report on the pressure sensitive adhesives market for the forecast period 2022 to 2031, rise in usage of pressure sensitive adhesives in tapes is a key factor that is expected to boost the global pressure sensitive adhesives market during the forecast period

Increase in Usage of Pressure Sensitive Adhesives in Tapes: Key Driver of Pressure Sensitive Adhesives Market

• Growing demand for lightweight and low emission automotive is propelling the market for pressure sensitive adhesives. Polymer-based and hot adhesives are majorly used for panel laminations and trims in the automotive industry. Growing awareness regarding low weight vehicles with increased fuel efficiency and lower emissions is further expected to drive the demand for such adhesives from the automotive industry. Hence, rise in demand for fuel-efficient vehicles is expected to foster market growth.
• Rising popularity of miniaturization of electronic devices such as portable computers, cell phones, and tablets is projected to augment the market for pressure sensitive adhesives. The smartphone is one of the popular examples of miniaturization of electronic devices. Increasing disposable income and growth in the urban population are boosting demand for such electronic devices. Thus, growing popularity of miniaturization of electronic devices is expected to accelerate the market growth of pressure sensitive adhesives.
• Increasing development of bio-based pressure sensitive adhesives due to growing environmental concerns is expected to provide potential market opportunities. Bio-based pressure sensitive adhesives reduce the environmental effects by lowering the level of carbon footprints. They are derived from starch, soy, and vegetable oils and can compete with petroleum-based adhesives. Moreover, polyols, bio-derived from soybeans, are used in the manufacture of PSAs. Hence, increase in development of bio-based pressure sensitive adhesives is expected to fuel market growth.

Water-based Product Segment Dominates Pressure Sensitive Adhesives Market

• Based on product, the water-based segment dominated the global pressure sensitive adhesives market in 2021. Water-based technology finds applications in pressure sensitive tapes, labels, glue dots, note pads, automobile trims, films, and specialty applications in different industries such as packaging, electrical, electronics & telecommunication, medical & healthcare, and automotive.
• Due to discharge of hazardous volatile organic compounds, these products are heavily regulated and are restricted to be used away from populated areas, and thus will lose their strong market share in the upcoming years. However, hot melt adhesive products are estimated to gain higher application in the construction industry, owing to their ease of application and stronger bond strength, thus reducing processing time, state analysts.
• Radiation-cured pressure adhesives are used in masking tapes that are suitable for sub-zero or extremely high temperatures

Rise in Application of Pressure Sensitive Adhesives in Tapes Applications

• In terms of value, the tapes segment is estimated to dominate the global pressure sensitive adhesives market during the forecast period. Increase in demand for pressure sensitive adhesives in tapes application is anticipated to drive the segment in the near future.
• Pressure sensitive adhesives are increasingly used in packaging and healthcare industries due to their ease of use and low cost when compared to traditional methods. Asia Pacific has various developing countries such as China, India, South Korea, Indonesia, and Taiwan. These countries have various emerging industries, including packaging, healthcare, automotive & transportation, and building & construction. Thus, developing industries in Asia Pacific countries are driving the demand for pressure sensitive adhesives.
• 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 décor, point-of-purchase promotions, outdoor advertising, and vehicle graphics. Branding and advertising graphics are gaining more emphasis in corporate strategies of multinational companies, as brand logo and advertising play a crucial role in influencing the consumer demand.

Pressure Sensitive Adhesives Market: Competition Landscape

• Detailed profiles of providers of pressure sensitive adhesives have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
• Key players operating in the global pressure sensitive adhesives market are
  • 3M Company
  • Ashland Inc.
  • Avery Dennison Corporation
  • BASF SE
  • Bostik SA
  • Nippon Paint Co. Ltd.
  • Dow Chemical Company
  • Ellsworth Adhesives
  • H.B Fuller Company
  • Henkel AG & Co. KGaA
  • LG Chem

Pressure Sensitive Adhesives Market: Major Players

• Major providers of pressure sensitive adhesives, such as llsworth Adhesive, Avery Dennison Corporation, 3M Company, LG Chem, and Dow Chemical Company, are focusing on research & development, merger, joint venture, collaboration, and product innovation strategies
• In the global pressure sensitive adhesives market report, we have discussed individual strategies, followed by company profiles of providers of pressure sensitive adhesives. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global pressure sensitive adhesives market.

Pressure Sensitive Adhesives Market Snapshot

Pressure Sensitive Adhesives Market – Segmentation

TMR’s research study assesses the global pressure sensitive adhesives market, in terms of product, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global pressure sensitive adhesives market.