USD 12.30 Billion
Pressure Sensitive Adhesives Market Size, Share, Growth Analysis, By Technology(Water-based, Solvent-based), By Adhesive Chemistry(Acrylic, Rubber), By Product(Tapes, Labels), By End-User(Automotive, Electronics) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2347 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
123 |
Figures:
77
Pressure Sensitive Adhesives Market Insights
Global Pressure Sensitive Adhesives Market size was valued at USD 12.30 Billion in 2022 and is poised to grow from USD 12.83 Billion in 2023 to USD 17.97 Billion by 2031, at a CAGR of 4.30% during the forecast period (2024-2031).
Product multiplication and escalating competitiveness is intensifying the complexity of packaging requirements, particularly in the food and beverage industry, thereby creating new growth opportunities for the global pressure sensitive adhesives market. This is owing to the fact that PSAs provide the flexibility needed to meet these complicated needs. PSAs are also utilized in other sectors, such as automotive, where it can be found in safety and warning labels as well as component identification labels throughout the supply chain.
In an average car, about 1 square meter of label is used, with just 10 to 15% of the labels visible to car owners being tire pressure and warning labels. The remaining labels, which are not visible to the automobile owner, are put to automotive parts. During assembly, they are used to indicate the component number and product specifications.
The growing demand for convenience packaging, particularly in the food and beverage industries, is one of the primary drivers of the pressure sensitive adhesives market. Because of their ability to establish a safe and trustworthy seal that preserves food clean and devoid of infection, PSAs are commonly utilized in food packaging.
However, rising raw material prices are a significant concern influencing producers and may stifle industry expansion. Acrylic polymers, rubber-based polymers, silicone polymer compounds, tackifiers, and chemicals are the key raw ingredients utilized in the production of PSAs.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Water-based
Fastest Growth
Water-based
Growth Rate
4.30% CAGR
Global Pressure Sensitive Adhesives Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Pressure Sensitive Adhesives Market By Technology, 2022-2030 ($ Bn)
Global Pressure Sensitive Adhesives Market By Technology, 2022-2030 (%)
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Pressure Sensitive Adhesives Market Segmental Analysis
The global pressure sensitive adhesives market is segmented based on technology, adhesive chemistry, product, end user, and region. Based on technology, the market is segmented into water-based, solvent-based, hot melt, and radiation-cured. Based on adhesive chemistry, the market is segmented into acrylic, rubber, silicone, and others. Based on product, the market is segmented into tapes, labels, graphic films, and others. Based on end-use, the market is segmented into automotive, electronics, consumer goods, packaging, construction, and others. Regionwise, the global market is widespread into North America, Europe, Asia-Pacific, South America, and MEA.
Global Pressure Sensitive Adhesives Market Analysis by Technology
In 2022, waterborne technology will have a revenue share of more than 40.6% of the market. This is due to its environmentally friendly characteristics and widespread use in the production of cassettes and labels. Water-based PSAs are widely utilized on papers and are preferred for food and beverage labels over other technologies. They are also used to make general purpose everlasting labels, detachable labels, and medicinal labels.
Acrylic or rubber-based polymer compositions dissolved in solvent are examples of solvent-based technologies. Solvent-based technology has several advantages, including a wide range of adherence with quick curing, strong bond strength, and excellent heat and resistance to chemicals. The employment of this innovation in resilient, demanding, & long-term End-uses drives the solvent-based segment.
Hot melt technique is projected to gain in popularity because of cheaper prices compared to other techniques. Hot melt PSAs enable converters to employ heavier coat weights. Furthermore, the ability of hot melts to connect on both rough and smooth surfaces is a crucial component in aiding the segment's rapid growth.
Global Pressure Sensitive Adhesives Market Analysis by Product
In 2022, cassettes segment led the market, accounting for 69.9% of worldwide volume. This is due to the widespread use of tapes for box sealing in the packing industry. Furthermore, they are employed in a variety of assembly End-uses, including automobile and electronic assembly. The product's eco-friendliness, convenience of use, and reduced weight as compared to conventional joining and fastening techniques are projected to stimulate demand in assembling End-uses.
Food labels, transparent labels, pack lists, documents, all-purpose permanent labels, textile labels, tire labels, detachable labels, specialty labels and durable labels are driving demand for labels. Because of their exceptional properties, self-adhesive labels made from acrylic fluids are widely used in the labeling business. In comparison to other labels, they allow for broader webs, quicker speeds, and overall higher uptime during conversion.
Global Pressure Sensitive Adhesives Market By Technology, 2022 (%), 2023 (%)
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Pressure Sensitive Adhesives Market Regional Insights
Asia Pacific dominated the market, accounting for 40% of total revenue in 2022. Asia Pacific is also expected to be the fastest-growing geographic market in terms of revenue throughout the forecast period. The rapidly expanding industrial sector and rising foreign investment in the region are likely to drive regional market expansion. With rising corporate and government expenditures on emerging technologies, creativity, new materials, and sustainability, UV/EB-based PSAs are expected to rise rapidly across North America.
Europe exhibited an increased demand for construction tapes then other regions. The presence of severe REACH rules in the market has hampered market expansion in the region. Germany, France, and the United Kingdom lead the European market in terms of consumption of goods. The primary CSA countries are Brazil, Argentina, and Chile. The elimination of limitations on imports in Argentina is likely to boost the number of ancillary printers and presses installed. The recovery of manufacturing in Brazil following a period of depression is expected to promote market expansion in the country.
Global Pressure Sensitive Adhesives Market By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
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Pressure Sensitive Adhesives Market Dynamics
Global Pressure Sensitive Adhesives Market Drivers
Increasing use of pressure sensitive adhesives in tapes and labels
- Pressure-sensitive adhesive (PSA) tapes serve as crucial components in the construction of various equipment, offering indispensable utility in tasks such as securing and positioning conductors, preventing relative movement, component identification, and moisture protection. In particular, PSA tapes find extensive use in fine-wire coils, where they play a critical role in averting conductor erosion caused by electrolysis. The versatility of PSA tapes continues to drive their utilization in an array of applications, with new uses constantly emerging, thereby fostering the continued growth of PSAs in the tape industry. Similarly, PSA labels offer a host of advantages, including self-adhesiveness, compatibility with a wide range of materials and shapes, and the absence of a need for heat, solvents, or water for adhesion to packaging. These labels are especially well-suited for high-speed applications, demonstrating adhesion capabilities to diverse surfaces, including non-polar polyolefin materials, rubber, surfaces prone to dust or contamination, rough substrates, and humid surfaces. PSA labels are characterized by their cost-effectiveness, versatility, and user-friendliness. These attributes are driving the increasing utilization of PSAs in the label industry.
Growing Demand in Packaging Industry
- The global Pressure Sensitive Adhesives (PSA) market is being driven by the surging demand in the packaging industry. PSAs are widely used in various packaging applications, such as carton sealing tapes, labels, and flexible packaging. With the expansion of e-commerce and the need for efficient and secure packaging solutions, the demand for PSAs in this sector is on the rise. Additionally, the versatility of PSAs in adhering to different surfaces and materials makes them a preferred choice for packaging applications.
Increasing Adoption in Automotive Manufacturing
- Another significant driver of the global PSA market is the increasing adoption in the automotive manufacturing industry. PSAs are utilized in various automotive components, including interior trim, insulation, and exterior attachments. The automotive industry's shift towards lightweight materials and the need for reliable bonding solutions have led to the growing use of PSAs. Moreover, the trend towards electric vehicles has further boosted the demand for PSAs in battery assembly and other critical components.
Expanding Electronics and Electrical Sector
- The expansion of the electronics and electrical sector is a key driver for the global PSA market. PSAs are essential in this industry for applications like bonding electronic components, insulating materials, and protecting delicate devices. With the proliferation of consumer electronics, smartphones, and wearable devices, there is an increasing need for PSAs that provide strong adhesion, electrical insulation, and reliability. The continuous innovation in electronic devices and the miniaturization of components contribute to the growing demand for specialized PSAs in this sector.
Global Pressure Sensitive Adhesives Market Restraints
Volatility in Raw Material Prices
- Pressure sensitive adhesives are composed of various raw materials, including acrylics, rubber, silicone, and others. Fluctuations in the prices of these raw materials can significantly impact the production costs of PSAs. Price volatility poses a challenge for manufacturers in terms of maintaining profitability and offering competitive pricing.
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Pressure Sensitive Adhesives Market Competitive Landscape
The global pressure sensitive adhesives (PSAs) market is highly competitive, with several key players vying for market share. Due to their high expertise, large product range, and ongoing strategic activities such as acquisition and new product releases, 3M Company, Avery Dennison, and Henkel are the market's global leaders. These businesses are strongly integrated in their production operations.
Top Player’s Company Profiles in Global Pressure Sensitive Adhesives Market
- H.B. Fuller Company
- Arkema Group
- Sika AG
- Dow Chemical Company
- Ashland Global Holdings Inc.
- Jowat SE
- RPM International Inc.
- Mapei S.p.A.
- Franklin International
- Scapa Group plc
- Bostik SA
- LORD Corporation
- Toyochem Co., Ltd.
- Denka Company Limited
- Mitsubishi Chemical Corporation
- Lohmann GmbH & Co. KG
- ITW Performance Polymers
Global Pressure Sensitive Adhesives Market Recent Developments
- In April 2023, Henkel AG & Co. KGaA announced the expansion of its pressure sensitive adhesives production capacity in North America to meet the growing demand in the region. The company invested in new equipment and technologies to enhance its manufacturing capabilities.
- In March 2023, Avery Dennison Corporation introduced a new range of sustainable pressure sensitive adhesives for packaging applications. The adhesives are designed to offer high performance while minimizing environmental impact, aligning with the growing demand for eco-friendly solutions.
Pressure Sensitive Adhesives Key Market Trends
- Increasing Demand for Sustainable Solutions: There is a growing trend of consumers and industries shifting towards sustainable products and practices. In the pressure sensitive adhesives market, there is a rising demand for eco-friendly and bio-based adhesive solutions that minimize environmental impact and reduce carbon footprint.
- Advancements in Adhesive Technologies: Technological advancements are driving the development of innovative adhesive formulations and application techniques. Key trends include the development of high-performance adhesives with improved bonding strength, enhanced durability, and resistance to extreme conditions such as temperature, moisture, and chemicals.
- Growing Adoption of Lightweight Materials: The increasing demand for lightweight materials, such as composites and plastics, in industries like automotive, aerospace, and electronics, is driving the need for pressure sensitive adhesives that provide strong bonding while reducing weight. This trend is fueled by the pursuit of fuel efficiency, improved performance, and design flexibility.
- Expansion of E-commerce and Packaging Industry: The rise of e-commerce and the growth of the packaging industry are contributing to the demand for pressure sensitive adhesives. Adhesives play a critical role in secure packaging, label application, and tape sealing, enabling efficient and reliable packaging solutions.
Pressure Sensitive Adhesives Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our pressure sensitive adhesives market, the packaging industry's high need for pressure sensitive tape and labels is expected to drive the market. Pressure sensitive adhesives (PSAs) are simple to apply and can solve adhesion problems in a wide range of packaging technologies and coatings. Owing to the product multiplication and escalating competitiveness, packaging requirements are getting increasingly complex, particularly in the food and beverage industry. This will open up new opportunities for the market, as PSAs provide the flexibility needed to meet these complicated needs. PSAs are also utilized in other sectors, such as automotive, where it can be found in safety and warning labels as well as component identification labels throughout the supply chain.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 12.30 Billion |
| Market size value in 2031 | USD 17.97 Billion |
| Growth Rate | 4.30% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Pressure Sensitive Adhesives Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Pressure Sensitive Adhesives Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Pressure Sensitive Adhesives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pressure Sensitive Adhesives Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pressure Sensitive Adhesives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pressure Sensitive Adhesives Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Pressure Sensitive Adhesives Market Report Snapshots
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