A key determinant for driving demand for pressure sensitive adhesives is growing requirement for weight reduction in products that offer high bonding solutions. A prevailing trend in the pressure sensitive adhesives market is use of lightweight and cost-effective engineering plastics across diverse end-use industries including electronics, construction and automotive.
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5 Key Takeaways from Fact.MR’s Report on Pressure Sensitive Adhesives Market for Forecast Period 2017-2026 (In Terms of Volume)
- Sales of pressure sensitive adhesives will remain the largest in Asia-Pacific excluding Japan (APEJ), accounting for nearly half share of the market by 2026-end. Sales of pressure sensitive adhesives in APEJ will register the highest CAGR through 2026.
- Sales of Pressure sensitive adhesives will also remain high in North America and Europe, collectively estimated to reach approximately 25,000 Mn sq. m by 2026-end.
- Acrylic will continue to be the top-selling resin type in the global pressure sensitive adhesives market. However, sales of rubber are projected to reflect a relatively higher CAGR through 2026.
- Based on backing material, sales of polypropylene will remain considerably larger than those of paper, polyvinyl chloride, and other backing materials combined. Polypropylene sales are projected to hold over three-fifth volume share of the market by 2026-end.
- Tapes are expected to remain the largest application of pressure sensitive adhesives, trailed by labels. Sales of pressure sensitive adhesives in these two applications are collectively projected to hold over four-fifth share of the market by 2026-end. Pressure sensitive adhesives will register the fastest sales expansion in medical and graphic films applications through 2026.
In terms of value, Asia-Pacific excluding Japan (APEJ) will ride on the highest CAGR in the global pressure sensitive adhesives market through 2026. This growth is mainly attributed to robust demand for pressure sensitive adhesives in numerous end-use industries such as leather, automotive, furniture, packaging, and construction in APEJ. Manufacturers in countries such as China and India in the region are making huge investments in technical research and development for extending their market reach globally. In addition, surging government assistance in these developments will further augment growth of the market in APEJ.
North America and Europe are also expected to remain lucrative regions for growth of the pressure sensitive adhesives market, mainly driven by stringent regulations apropos to VOC emission, coupled with the fuel efficiency norms. The regulatory agencies such as REACH and the U.S. EPA have implemented strict rules for the chemical industries to comply in order to improve sustainability, thereby creating demand for pressure sensitive adhesives that comply with these norms.
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Pressure sensitive adhesive tapes find extensive utilization in the automotive, construction & building, and medical industries. These tapes are used mostly for HVAC pipe mounting & wrapping, splicing, casketing, sealing, and masking purposes. Tapes are expected to prevail as the dominant application of pressure sensitive adhesives, in terms of value. Labels will also endure as a lucrative application of pressure sensitive adhesives, as they seek widespread application in security, transportation, health & beauty, and food & beverage industries.
Competition Tracking
Fact.MR’s report has listed key participants actively contributing to the market growth, which include 3M Company, Tesa SE, Nitto Denko Corporation, LINTEC Corporation, BASF SE, Lohmann GmbH & Co. KG, Exxon Mobil Corporation, and Scapa Group PLC.
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