Global Pressure Sensitive Adhesives Market Will Reach Around USD 8.0 Billion in 2020
Zion Research has published a new report titled “Pressure Sensitive Adhesives (Water-based, Solvent-based, Hot Melt, Radiation Cured) Market for Tapes, Specialty, Labels, Graphics, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020.” According to the report, global demand for pressure sensitive adhesives was valued at USD 6.20 billion in 2014 and is expected to reach USD 8.0 billion in 2020, growing at a CAGR of around 5% between 2015 and 2020. In terms of volume, the global pressure sensitive adhesives market stood at 2.65 million tons in 2014.
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Pressure sensitive adhesives are the special kind of adhesives that forms a bond or link with a surface when pressure is applied. These adhesives are derived from various compositions of chemicals such as acrylic, silicone, polyurethane, styrene butadiene and others. Pressure sensitive adhesives are mainly used in host of applications such as packaging industry, automotive industry, construction, electronics, furniture, footwear and in several consumer products among others.
Global pressure sensitive adhesive is mainly driven by the strong demand for labels from packaging industry. RFID labels are witnessing strong demand in the recent past leading growth of pressure sensitive adhesives labels. Automotive is another important outlet for the pressure sensitive adhesives market. Specialty pressure sensitive adhesives are mainly applied in automotive industry. Growth of automotive industry in Asia Pacific is in turn driving demand for pressure sensitive adhesives. However, pressure sensitive adhesives manufacturers are expected to face some major challenges such as fluctuating raw materials prices and stringent environmental regulation on the use of solvent based pressure sensitive adhesives.
Based on the different types of the adhesives, the global pressure sensitive adhesives market is segmented as water-based pressure sensitive adhesives, solvent-based pressure sensitive adhesives, hot melt pressure sensitive adhesives, and the radiant curved pressure sensitive adhesives. Water-based adhesives segment dominated the pressure sensitive adhesives market with around 40% share of the total market in 2014. Moreover, this segment is expected to continue the trend for the coming years as it is has the rapid consumption rate in the market. Solvent-based pressure sensitive adhesives were the second largest segment. However, it is expected to witness slight decline in its market share during the forecast period. This can be attributed to the adverse effect of solvent based adhesives on the environment.
Tapes, specialty, labels, graphics and others are the key application markets of the pressure sensitive adhesives. Tapes dominated the global pressure sensitive adhesives market with over 40% share of the total volume consumed in 2014. However, the label segment is expected to exhibit fastest CAGR during the forecast period. High demand for PSA labels by the various industries for making their inventory management better and convenient is expected to trigger demand for pressure sensitive adhesives. Specialty is another important application market for pressure sensitive adhesives. Specialty pressure sensitive adhesives are mainly used in automotive sector. The automotive industry in Asia Pacific is increasing at rapid pace. This is further expected to fuel demand for pressure sensitive adhesives.
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Asia Pacific was dominating the global pressure sensitive adhesives market with over 40% share of the total volume consumed in 2014. Strong growth prospectus of the end user industries such as building & construction, automotive, electrical & electronic, etc. is expected to drive the market in the years to come. Owing to strong demand from countries like China and India, Asia Pacific is also expected to be the fastest growing market for pressure sensitive adhesives. Asia Pacific is followed by North America and Europe respectively.
Key players operating in global pressure sensitive adhesives market include, 3M Company, HB Fuller, Henkel AG, Avery Dennison, Collano Adhesives AG, Novamelt, Bostika S.A., BASF SE, LG Chemicals, and Ashland, Inc.
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