USD 13.4 billion
Report ID:
SQMIG15E2347 |
Region:
Global |
Published Date: September, 2024
Pages:
184
|Tables:
123
|Figures:
77
Pressure Sensitive Adhesives Market size was valued at USD 13.4 billion in 2023 and is poised to grow from USD 13.88 billion in 2024 to USD 18.42 billion by 2032, growing at a CAGR of 3.6% during the forecast period (2025-2032).
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 - 2025-2032
Global Market Size
USD 13.4 billion
Largest Segment
Acrylics
Fastest Growth
Silicone-based
Growth Rate
3.6% CAGR
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Global Pressure Sensitive Adhesives Market is segmented by Product, Chemistry, Technology, End-user and region. Based on Product, the market is segmented into Tapes, Labels, Graphic Films and Others. Based on Chemistry, the market is segmented into Acrylic, Rubber, Silicone and Others. Based on Technology, the market is segmented into Water-borne, Solvent-borne, Hotmelt and Radiation Cured (UV Cured). Based on End-user, the market is segmented into Automotive, Electrical & Electronics, Consumer Goods, Packaging, Construction and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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.
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.
Analysis by Adhesive Chemistry
Acrylics dominated the market with a revenue share of more than 58% in 2022. This is attributed to extensive usage of Acrylic-based PSAs owing to their oxidation and UV resistance. They are formulated by reacting suitable acrylic monomers, which are later cross-linked to form the required polymer. They are generally used on paper and polar surfaces like steel, glass, aluminum, zinc, polycarbonate, tin, and Polyvinyl Chloride (PVC).
In terms of revenue, silicone-based products are estimated to witness the fastest CAGR of 5.6% over the forecast period. The use of this formulation is driven by their ability to provide adhesion to silicon and other Technology that are difficult to adhere. In addition, silicone formulations are characterized by extreme weather resistance and have longer durability as compared to acrylics and rubber. However, the large-scale adoption of silicone-based PSAs is restricted by their significantly higher cost as compared to acrylics and rubber.
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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.
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Pressure Sensitive Adhesives Market Drivers
Increasing demand from the Packaging industry
Advancements in the Automotive industries
Pressure Sensitive Adhesives Market Restraints
Volatility in Raw Material Prices
Increasing stringent Environmental Regulations
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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.
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 13.4 billion |
Market size value in 2032 | USD 18.42 billion |
Growth Rate | 3.6% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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Pressure Sensitive Adhesives Market size was valued at USD 12.83 Billion in 2023 and is poised to grow from USD 13.38 Billion in 2024 to USD 18.74 Billion by 2032, growing at a CAGR of 4.30% during the forecast period (2025-2032).
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. '3M Company (US) ', 'Avery Dennison Corporation (US) ', 'Henkel AG & Co. KGaA (Germany) ', 'H.B. Fuller Company (US) ', 'Arkema Group (France) ', 'Sika AG (Switzerland) ', 'Dow Chemical Company (US) ', 'Ashland Global Holdings Inc. (US) ', 'Jowat SE (Germany) ', 'RPM International Inc. (US) ', 'Mapei S.p.A. (Italy) ', 'Franklin International (US) ', 'Bostik SA (France) ', 'Toyochem Co., Ltd. (Japan) ', 'Denka Company Limited (Japan) ', 'Mitsubishi Chemical Corporation (Japan) ', 'Lohmann GmbH & Co. KG (Germany) ', 'ITW Performance Polymers (US) ', 'Nitto Denko Corporation (Japan) ', 'Saint-Gobain Performance Plastics (France) ', 'Tesa SE (Germany) ', 'Lintec Corporation (Japan)'
The Pressure Sensitive Adhesives market is fueled by several compelling factors, contributing to its widespread adoption and growth. One key driver is the increasing demand from the packaging industry, where PSAs play a pivotal role in creating secure and efficient seals for various products. The rise of e-commerce and the need for reliable packaging solutions further amplify the demand for PSAs.
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.
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.
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