The global pressure
sensitive adhesives market is expected to reach USD 14.20 billion
by 2024, according to a new report by Grand View Research, Inc. The global
industry growth has been driven by high consumption in packaging, automotive,
consumer goods, and construction industries.
Pressure sensitive adhesive applications are found to
be cost effective in stark contrast to the conventional mechanical fastening
methods such as brazing and welding. They form a tight bond between close
fitting surfaces that neither damages the paint and laminating surfaces nor
causes corrosion associated with using metal fasteners.
In light of tightening regulatory intervention to
improve fuel efficiency resulting in reduced carbon and Green House Gas (GHG)
emissions, automotive OEMs are forced to adopt plastics as a replacement to
metals such asaluminum and steel, thereby stimulating PSA demand.
Packaging was the leading end-use segment accounting
for over 25% of market volume in 2015. Growing demand for labeling and
packaging applications making use of PSA owing to improved inventory management
and cost effectiveness is expected to support growth.
Browse full research report on Pressure Sensitive Adhesives Market: https://www.grandviewresearch.com/industry-analysis/pressure-sensitive-adhesives-market
Further
key findings from the report suggest:
- The global pressure sensitive adhesives market size was over 2,800
kilo tons in 2015 and is expected to exceed 4,000 kilo tons by 2024,
growing at an estimated CAGR of 4.8% from 2016 to 2024.
- Water-based PSA is expected to be the fastest growing technology
segment owing to their low cost and environment-friendly characteristic.
- Labels emerged as the dominant product segment with growth driven
by increasing demand for RFID labels and retail labeling applications.
- Asia Pacific was the leading regional market witnessing growth in
key end-use industries such as automotive, packaging and electrical &
electronics.
- Medical & healthcare segment is expected to provide growth
opportunities as a result of rising awareness of patient’s health safety
&and requirements on pharmaceutical labeling.
- Graphics though holds a small share compared to labels and tapes is
a potential future market due to diverse applications in home décor and
cushioning.
- Theindustry is highly fragmented with presence of both,
multinational players and small domestic companies.
- Major industry participants in include The Dow Chemical Company,
H.B. Fuller, Ashland, Inc., Henkel, 3M and Avery Dennison.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand
View Research has segmented the pressure sensitive adhesives market on the
basis of product, end-use, technology and region:
Pressure
Sensitive Adhesives Technology Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2024)
- Water-Based
- Solvent-Based
- Hot-Melt
- Radiation
Pressure
Sensitive Adhesives Product Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2024)
- Tapes
- Labels
- Graphic Films
- Specialty
- Others
Pressure
Sensitive Adhesives End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2024)
- Automotive
& Transportation
- Electrical
& Electronics
- Consumer
Goods
- Packaging
- Construction
- Others
Pressure
Sensitive Adhesives Regional Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2024)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Asia Pacific
- India
- China
- Japan
- Central &
South America
- Brazil
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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