Huge demand for PSAs from varied end-use industries, such as packaging, automotive & transportation, and electronics & telecommunication is driving the growth of Pressure Sensitive Adhesives (PSA) Market
The pressure
sensitive adhesives (PSA) market was valued at USD 7.87 billion in 2015 and
is projected to reach USD 11.22 billion
by 2021, at a CAGR of 6.1% between 2016 and 2021.
The increasing demand for
PSAs from varied end-use industries,
such as packaging, automotive & transportation, and electronics, electrical
& telecommunication is driving the growth of the PSA market. Increasing applicability of PSAs in tapes
and labels and the ability of PSAs to dampen vibration and inhibit corrosion
are additional factors propelling the demand for PSAs among varied end-use
industries.
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Growth in this market is mainly attributed to the increasing
demand for PSAs from varied end-use industries such as packaging, automotive
& transportation, and electronics, electrical and telecommunication.
Properties such as high tack and resistance to peel & sheer are responsible
for the extensive use of PSA labels. PSA tapes are also widely used across varied
end-use industries, owing to their ability to dampen vibrations and inhibit
corrosion as well as provide superior bonding and enhance aesthetical
properties of products.
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The EVA segment of the PSA market is projected to grow at the
highest CAGR between 2016 and 2021, in terms of volume, owing to the increasing
applicability of PSAs in the packaging end-use industry.
Moreover, in terms of
value, the silicone segment is anticipated to grow at the highest CAGR during
the forecast period. This growth is mainly attributed to the increasing
consumption of silicone-based PSAs in aerospace and automotive end-use
industries.
The hot melt segment is the fastest-growing technology
segment of the PSA market, in terms of volume, owing to the increasing applicability
of hot melt PSAs in packaging and electronics, electrical &
telecommunication end-use industries.
The labels segment is the fastest-growing application segment
of the PSA market, in terms of volume and value.
This is due to increasing
usage of labels in the packaging, medical & healthcare, and automotive
& transportation end-use industries. Electronics, electrical &
telecommunication is the fastest-growing end-use industry, in terms of volume
and value. This is due to the increasing applicability of PSAs in integrated
circuits, electronic components, and insulating tapes.
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The report analyzes the key growth strategies adopted by
market players between 2011 and 2016. Henkel AG & Co. KGaA (Germany), 3M
Company (U.S.), The Dow Chemical Company (U.S.), Avery Dennison (U.S.), Ashland
Inc. (U.S.), and H.B. Fuller (U.S.) are leading players in the PSA market.
Henkel AG & Co. KGaA is one of the leading players in the
PSA market. The company, being a key manufacturer of PSAs, aims to strengthen
its market position and enhance its customer base. As a part of its business
strategy, Henkel AG & Co. KGaA focuses on R&D activities to develop
high quality products by employing the latest state-of-art technology and
continuously improving the efficiency of its operations.
Reference:
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