Global Pressure Sensitive Adhesives Market: Snapshot
Pressure sensitive adhesives are vital formulations of polymers and chemicals that are widely used to bond properly with the surface by applying pressure to it. These pressure sensitive adhesives are being used across the globe for diverse applications, including electronics, automotive, construction, footwear, packaging, and others. The expansion of the application base and the growing focus on increasing the product portfolio are anticipated to fuel the growth of the global pressure sensitive adhesives market throughout the forecast period. In addition, the increasing shift towards the miniaturization of electronic devices is expected to supplement the growth of the market in the coming years.
According to the Research study by Transparency Market Research, the global market for pressure sensitive adhesives is anticipated to reach a value of US$7.96 bn by the end of 2019. The market is likely to exhibit a healthy growth rate in the forecast period.
Rising Demand for Low Emission in Automobiles to Bolster Global Pressure Sensitive Adhesives Market
A significant rise in the demand for light-weight and the low emission for automotive are the key factors that are predicted to encourage the growth of the global pressure sensitive adhesives market in the next few years. In addition, the enhanced inventory management enabled by the RFID labels is expected to accelerate the growth of the overall market in the near future. The rising rate of adoption of low cost aids for flexible packaging is likely to supplement the pressure sensitive adhesives market’s growth across the globe.
On the flip side, the environmental rules and regulations against VOC emissions from the solvent-based pressure sensitive adhesives are anticipated to curtail the growth of the overall market throughout the forecast period. Moreover, the volatile prices of crude oil are predicted to cause pressure on margins, which is expected to act as a major barrier for the growth of the global pressure sensitive adhesives market in the near future. Nevertheless, the rapid rate of development and commercialization is estimated to offer growth prospects in the next few years.
Developing Medical and Automotive Industries to Encourage Growth in Asia Pacific
In the recent few years, Asia Pacific led the global pressure sensitive adhesives market, holding a key share. As per the research report, this region is expected to remain in the leading position throughout the forecast period. The rapidly developing electronics and automotive industry is predicted to encourage the growth of the Asia Pacific market in the next few years. In addition, the rising demand for consumer goods, including office stationary, footwear, and furniture is anticipated to fuel the growth of this region throughout the forecast period.
Furthermore, the rising contribution from the medical industry and the rising focus on the development of the healthcare infrastructure are some of the other major factors that are likely to generate promising growth opportunities for the key players in the market. The increasing popularity of medical tourism in several emerging economies are estimated to contribute towards the market’s growth in the next few years. The rising preference for silicon-based pressure sensitive adhesives is another factor expected to accelerate the growth of the Asia Pacific pressure sensitive adhesives market in the next few years. North America market for pressure sensitive adhesives is projected to witness high growth and continue on second position in the coming years.
Some of the leading players operating in the pressure sensitive adhesives market across the globe are Henkel AG & Co. KGaA, Bostik SA, H.B Fuller company, Ashland Inc., BASF SE, Dow Chemical Company, LG Chem, 3M Company, Avery Dennison Corporation, and Ellsworth Adhesives.
Pressure Sensitive Adhesives Market – Product Segment Analysis
- Hot melt
- Radiation cured
Pressure Sensitive Adhesives Market – Application Analysis
- Others (Automotive trims, dental adhesives, notepads, etc.)
Pressure Sensitive Adhesives Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World