Pressure-sensitive adhesives are binding substances that are applied to prevent the separation of two surfaces. These adhesives are non-reactive and provides superior bonding property. Labels, graphics, tapes, and medicals are some of the key applications of pressure-sensitive adhesives. Automotive, construction, healthcare, consumer goods, packaging, and electronics are some of the key end users of pressure-sensitive adhesives.
Global pressure-sensitive adhesives Market was valued at US$ 8808.70 Mn in 2022. Global Pressure-Sensitive Adhesives Market is expected to register a CAGR of 5.62 % over the forecast period (2023–2030), to reach US$ 14384.15 Mn by 2030.
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Key Trends and Analysis of the Global Pressure Sensitive Adhesives Market:
- The global Pressure Sensitive Adhesives market was valued at US$ 8808.70 Mn in 2021 and is forecast to reach a value of US$ 14384.15 Mn by 2030 by exhibiting a CAGR of 5.62% between 2022 and 2030.
- Among application, the tapes application segment held market share 2022 and is expected to keep its dominance over the forecast period. PSAs in tapes are increasingly used in packaging and healthcare industries, owing to their ease of use and low-cost as compared to traditional methods. APAC has various developing countries, such as China, India, South Korea, Indonesia, and Taiwan.
Asia Pacific Witnessed a Significant Market Growth
Asia Pacific held a dominant position in pressure-sensitive adhesives market. The packaging industry in Asia Pacific showcased huge potential. PSA labels mostly find their use in this industry. Hence, it accounted for the largest market share.
Key Takeaways of the Global Pressure Sensitive Adhesives Market:
- The global Pressure Sensitive Adhesives market was valued at US$ 8808.70 Mn in 2022 and is forecast to reach a value of US$ 14384.15 Mn by 2030 at a CAGR of 5.62% between 2023 and 2030.
- The Tapes in application segment was valued US$ 8808.70 Mn in 2022 and is expected to witness a CAGR of 5.62% over the forecast period. PSAs in tapes are increasingly used in packaging and healthcare industries owing to their ease of use and low cost when compared to traditional methods. APAC has various developing countries, such as China, India, South Korea, Indonesia, and Taiwan.
Impact of Covid-19 on the Global Pressure Sensitive Adhesives Market
The Coronavirus pandemic is an incomparable global public health emergency that has severely affected almost every industry. The adhesives and sealants companies are facing various challenges, owing to the Covid-19 pandemic which led to transportation-related delays arising from travel restrictions. This has impacted supplies of raw materials for adhesives. However, the economic condition is stemming from the pandemic and this is expected to provide lucrative opportunities to key players to regain their position in the market.
Competitive Section:
- Company Names
- 3M Company
- Ashland Inc.
- Avery Dennison Corporation
- BASF SE
- Bostik SA
- Dow Chemical Company
- Ellsworth Adhesives
- B Fuller Company
- Henkel AG & Co. KGaA
- LG Chem
