June 01, 2020
As per the report titled ‘Pressure Sensitive Adhesives Market Size By Technology, By Product, By Application, By Sector, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report LLC, worldwide pressure sensitive adhesives market is estimated to accrue USD 10.5 billion by the year 2026.
Innovations in packaging sector, escalating demand for tapes & labels from an array of industry verticals, advancements in PSA technologies and increasing R&D investments are driving the growth of global pressure sensitive adhesives (PSA) market. The product is extensively used as an alternative to mechanical fasteners and liquid & spray adhesives.
Based on the technology scope, solvent-based segment is slated to exhibit a CAGR of 5% through 2026. Better peel and sheer strength than water-based adhesives along with favorable properties like superior moisture resistance and film protection, which finds usage in tapes and films are stimulating the segment growth. However, strict environmental regulations will impede the product demand as it contains acrylic solvents which are harmful.
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Elaborating on the product type, rubber-based segment is projected to register a healthy CAGR of 6% over the forecast timeline. Widespread use of rubber-based adhesives for the production of high-strength foam bonding tapes and easily removable masking tapes is fueling the segment growth. These products easily stick to various surfaces such as low energy plastics like polyethylene and polypropylene.
Speaking of the application terrain, graphics segment is predicted to accrue 11% market share by the year 2026. The growth is attributable to increasing demand for architectural graphics and vehicle graphics. High resistance to UV light and weathering is supporting the use of pressure sensitive adhesives for signage and wall décor applications.
Considering the end-user spectrum, PSA market from electronics & laminates segment is projected to amass USD 2 billion by 2026, owing to increased usage of PSA-based foam tapes for high performance in lens bonding applications. Moreover, pressure sensitive adhesives are also used for attaching liquid crystal modules as they offer superior adhesion and impact performance.
Meanwhile, food & beverage segment is expected to grow considerably through 2026, driven by escalating demand for PSA-based labels for containers and frozen food packaging.
Key players operating in global pressure sensitive adhesives market are H.B. Fuller, The 3M Company, Avery Dennison Corporation, Henkel AG & Co. KGaA, Sika AG, Momentive Performance Materials, DowDuPont, Inc. (Dow Corning), Wacker Chemie AG, Arkema Group, and Evonik Industries AG among others.