According to the new market research report "Pressure Sensitive Adhesives Market by Chemistry (Acrylic, Rubber, Silicone), Technology (Water-based, Solvent-based, Hot Melt), Application (Labels, Tapes, Graphics), End-Use Industry (Packaging, Automotive, Healthcare), Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Pressure Sensitive Adhesives Market size is projected to grow from USD 9.5 billion in 2020 to USD 12.8 billion by 2025, at a CAGR of 6.0% during the forecast period.
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106 market data tables and 53 figures spread through 183 pages and in-depth TOC
on “Pressure Sensitive Adhesives
Market by Chemistry (Acrylic, Rubber, Silicone), Technology (Water-based,
Solvent-based, Hot Melt), Application (Labels, Tapes, Graphics), End-Use
Industry (Packaging, Automotive, Healthcare), & Region - Global Forecast to
2025”
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In line with the rising demand for pressure
sensitive adhesives, Henkel offers a broad spectrum of products, including home
care, laundry, cosmetic, and adhesive technologies. The adhesive technologies
business segment manufactures and distributes decoration and renovation
products for home & office, building adhesives, PSA, and industrial
infrastructure solutions. Henkel supplies hot-melt PSA for a wide variety of
applications in terms of specialty tapes and commodity tapes. The company also
manufactures customized solutions. It has leveraged its strong financial
background and distribution network to expand its business in the US and
various countries across the globe.
In 2020, the company opened its new production
facility in Kurkumbh, India, near Pune. The unit aims to serve the growing
demand for high-performance solutions in adhesives, sealants, and surface
treatment products in Indian industries. Designed as a smart factory, the new
plant also will also help a wide range of Industry 4.0 operations and meet the
highest standards for sustainability.
The second most active company in the pressure
sensitive adhesives market is The Dow Chemical Company (US). The company holds
a strong position in the market due to its global distribution capabilities and
strong financial background. The company has actively made efforts and expanded
in emerging countries across Latin America and APAC to strengthen its product
portfolio and customer reach. It conducts its worldwide operations through four
operating segments: packaging & specialty plastics, industrial
intermediates & infrastructure, performance materials & coatings, and
corporate. The company manufactures PSAs under its performance materials &
coatings business unit. It operates its business in North America, Europe,
APAC, and Latin America.
The company is one of the market leaders of
pressure sensitive adhesives and is continuously focusing on the innovation and
development of new products by investing more in R&D activities. For
instance, it launched the Robond series and continues to add new products to
this series from time to time. The company has adopted the expansion strategy
to meet customer needs. It is well known for its innovative and sustainable
products. Dow is also taking efforts by various strategic decisions to
manufacture recyclable and bio-based pressure sensitive adhesives.
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Silicone PSA is estimated to grow at the highest
CAGR during the forecast period
Silicone PSAs consist of silicone polymers and are
widely used in specific industrial applications, such as medical, solar and
wind energy, heavy machinery and aerospace. It is used in the form of masking
tapes, splicing, process tapes, and high-performance insulation laminates. The
consumer goods industry is a huge market for silicone PSAs. These adhesives can
maintain adhesion over a larger temperature range and possess ability to adhere
to difficult surfaces. Silicone PSAs represent a small part of the total PSAs
market and serve niche markets with a vast range of applications and end-use
industries such as automotive & transportation and renewable energy.
Hot melt technology is expected to grow at the
highest CAGR during the forecast period
Hot melt technology is mainly used in packaging and
electrical, electronics & telecommunication industries. They are
solvent-less PSAs. With advanced automation, they can be used conveniently.
This technology holds superior manufacturing flexibility when compared with
water-based or solvent-based PSAs. Hot-melt PSAs are used in sealing food &
beverage products, in adhesion of integrated circuits, and other packaging
applications. These are extensively used in the FMCG sector in the packaging
and bonding of consumer goods.
Pressure sensitive adhesives are adhesives with
special formulations, which offer properties, such as viscosity, elasticity,
peel strength, cohesive strength, adhesive strength, shear resistance, and
resistance to aging, chemicals, and humidity. They adhere well on the surface
by making bonds when adequate pressure is applied. Emerging trends of bio-based
pressure sensitive adhesives and advancement in PSA tapes technology have
provided an opportunity for the growth of the market. However, the volatility
in raw material prices and stringent regulations reshaping the pressure
sensitive adhesives market are hampering its growth.
The key players of the pressure sensitive adhesives
market include Henkel AG & Company KGAA (Germany), The Dow Chemical Company
(US), Avery Dennison Corporation (US), H.B. Fuller (US), 3M Company (US),
Arkema Group (France), Sika AG (Switzerland), Scapa Group PLC (UK), and Ashland
Inc., (US) are the leading players operating in the pressure sensitive
adhesives market. Mergers & acquisitions, investments & expansions, and
new product development have been the major strategies adopted by the key
players between 2017 and 2020, which helped them broaden their customer base.
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