Pressure Sensitive Adhesives Market Size to Grow USD 9668 Million by 2029 at a CAGR of 3% | Valuates Reports

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Aug 07, 2023, 10:27 ET

BANGALORE, India, Aug. 7, 2023 /PRNewswire/ -- The Global Pressure Sensitive Adhesives Market is Segmented by Type (BOPP Tapes, PVC Insulation Tapes, PET Tapes, Labels, Double Sided Tapes, Aluminum Foil Tape), by Application (Building and Construction, Packaging, Automotive, Electrical and Electronics, Health and Hygiene): Global Opportunity Analysis and Industry Forecast 2023 - 2029.

The Pressure Sensitive Adhesives market was valued at USD 7925.6 million in 2022 and is anticipated to reach USD 9668 Million by 2029, witnessing a CAGR of 3.0% during the forecast period 2023-2029.

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TRENDS INFLUENCING THE GROWTH OF PRESSURE SENSITIVE ADHESIVES MARKET

PSAs are adaptable adhesives used in a variety of sectors, including consumer products, construction, electronics, packaging, healthcare, and the automobile industry. The rise of PSAs has been spurred by the rising demand for these sectors' products and services. Compared to conventional adhesives, PSAs provide a number of benefits. They are simple to use, don't need heat or solvent activation, and give immediate bonding when pressure is applied. These features make them practical and effective for different industrial processes, which promotes further use. This factor is expected to drive the growth of the Pressure Sensitive Adhesives Market.

Electronic equipment, in particular, is becoming lighter and smaller, thus PSAs are favored because they can offer high adhesion without adding a lot of weight. They are perfect for situations where weight and space are important considerations since they make it possible to assemble smaller, lighter components. The need for packing materials, such as tapes and labels, has increased dramatically with the expansion of e-commerce. PSAs are widely employed in packaging applications because they can provide trustworthy and secure seals. PSAs have expanded as a result of the rise of online purchases and the demand for effective packaging options. This factor is expected to drive the growth of the Pressure Sensitive Adhesives Market.

The uses of PSAs have grown as a result of advancements in the field, such as the creation of high-performance adhesives with increased bonding power, sturdiness, and temperature resistance. These developments have given PSAs new chances in competitive sectors including healthcare, aerospace, and the automobile industries. The adhesives business, particularly PSAs, has been impacted by the growing emphasis on sustainability and environmentally friendly practices. Manufacturers are creating recyclable and bio-based PSAs to lessen their influence on the environment. This is in line with the expanding consumer and governmental demand for environmentally friendly products, which is propelling the use of PSAs in a variety of applications. This factor is expected to drive the growth of the Pressure Sensitive Adhesives Market.

The employment of PSAs has benefited from the transition from rigid packaging to flexible packaging types, such as pouches and wraps. PSAs provide for reliable bonding on a range of substrates, such as plastics, films, and foils, enabling effective and adaptable packaging solutions. In the flexible packaging sector, PSAs have become more popular because of their flexibility, toughness, and attractiveness. This factor is expected to drive the growth of the Pressure Sensitive Adhesives Market.

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PRESSURE SENSITIVE ADHESIVES MARKET SHARE

Henkel and 3M are two of the top producers of pressure-sensitive adhesives worldwide. About 35% of the market is made up of the top 5 producers.

The largest market in the globe is in the Asia-Pacific region, which makes up about 55% of the whole market. North America and Europe follow, making up 20% and 18% of the total market, respectively.

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Key Players:

3M, Nitto Denko, Avery Dennison, tesa SE, Henkel, Berry Plastics, Intertape Polymer, LINTEC Corporation, Scapa, Shurtape Technologies, Lohmann, ORAFOL Europe GmbH, Tremco illbruck(Adhere Industrial Tapes), Achem Technology Corporation, Yonghe Adhesive Products, Winta, Yongle Tape, JinghuaTape, Luxking Group, Shushi Group, Yongguan, Camat

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