Pressure Sensitive Adhesives Market to Observe 6% CAGR Up To 2026

According to a Global Market Insights, report, in terms of revenue, the global pressure sensitive adhesives market will surpass USD 10.5 billion by 2026.

Selbyville, United States – July 20, 2021 /MarketersMedia/ —

Exponential growth in the packaging sector will drive the global pressure sensitive adhesives market value in coming years. Meanwhile, technological advancements in the field of PSA technologies to boost resistance to elevated temperature will also augur well for the growth of the industry size.

Pressure sensitive adhesives, or PSAs for short, are expected to be the preferred bonding solution in a slew of applications, including medical & healthcare, packaging, and food & beverage over forthcoming timeframe. Industry players have upped the production and supply of pressure sensitive adhesives for demanding performance requirements, such as UV and heat resistant, water whitening resistance and ice bucket resistance. Meanwhile, the emergence of the COVID-19 outbreak has dented the Pressure Sensitive Adhesives Market forecast.

Responding to the challenges from the COVID-19 crisis

The coronavirus pandemic led to some of the steepest declines in demand for various types of packaging, while expediting growth of packaging for e-commerce shipments. As per the United States Department of Commerce Census Bureau, e-commerce retail sales for the U.S. for Q2 of 2020 was estimated at around $211.5 billion, a surge of around 31.8% from the first quarter of 2020. However, demand for B2B-transport, luxury, and industrial packaging declined.

Companies have also reduced shipments to brick-and-mortar retailers and are shipping directly to businesses and consumers. This shift in business practices due to the pandemic will prompt tape manufacturers to address the burgeoning need with robust packaging solutions.

Manufacturers to navigate towards hot-melt technology as a key growth strategy

Pressure sensitive adhesives such as the hot-melt technology will witness an increased demand owing to reduced costs vis-à-vis other technologies. Hot melt adhesives are helping brands provide more flexibility for packaging operations as compared to other sealing alternatives. Considering that these adhesives use produce less waste, use less material, and reduce line stoppages, the hot melt technology has gained significant traction globally.

Pressure sensitive adhesives market volume from the solvent-based technology segment will witness an upward growth trajectory in the coming years. The solvent-based technology has gained significant traction in tapes and films owing to attributes such as superior moisture resistance and film protection. Some of the upsides of the technology include high bond strength, quick curing and high heat and chemical resistance. The solvent-based technology segment could expand at a robust CAGR of close to 5% through 2026.

Trend for rubber-based products to be pronounced

Industry participants are likely to exhibit more inclination towards rubber-based products for their high-strength foam bonding tapes and easily removable masking tapes. The shift towards rubber-based product will be fueled by the demand for rapid adhesion and cost-effective tapes. The rubber-based product will expand at a healthy CAGR of more than 6% through 2026.

With the demand for vehicle graphics and architectural graphics soaring, stakeholders have increased the production of PSAs for graphics application. The rising trend for wall décor and signage has further driven the demand for pressure sensitive adhesives. The industry share from the graphics application segment is likely to be valued at around 11% through 2026.
Based on the end-user sector, the electronics & laminates will be one of the major consumers of PSAs in the next few years. Considering the demand for PSA-based foam tapes to boost lens bonding application, the electronics sector will continue to exhibit an inclination for pressure sensitive adhesives. The electronics & laminates segment is forecast to be valued at approximately USD 2 billion by 2026.

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Asia Pacific to emerge as a favorable investment market

In terms of region, Asia Pacific pressure sensitive adhesives market value will witness notable gains with growing demand for tapes and labels across the region. Lately, Fast-moving consumer goods (FMCG) manufacturers in China and India have exhibited increased demand for PSAs. Besides, major industries such as medical & healthcare, mining, electronics, automobiles and food & beverage will also potentially boost the PSAs market in the region.

Leading enterprises are likely to boost their strategic initiatives such as product launches, mergers & acquisitions and R&D activities. Key industry participants are Henkel, Evonik Industries, LG Chem, Arkema and Sika, among others.
Henkel is investing in the U.S. manufacturing facility to bolster its UV-curable pressure-sensitive adhesives portfolio for label and tapes applications. Besides, the company is boosting its production capacity in Europe by 300% that could come online in September 2021.

Manufacturers are expected to make advancements and innovations in adhesive formulations to keep up with the future demands. In doing so, the global pressure sensitive adhesives market outlook will be strong with growing footfall across the end-use sectors.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/pressure-sensitive-adhesives-market

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