Global Pressure Sensitive Adhesives Market to Increase to $8.0 billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 08/24/2017 -- Zion Market Research has published a new report titled "Pressure Sensitive Adhesives (Water-based, Solvent-based, Hot Melt, Radiation Cured) Market for Tapes, Specialty, Labels, Graphics, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020." According to the report, global demand for pressure sensitive adhesives was valued at USD 6.20 billion in 2014 and is expected to reach USD 8.0 billion in 2020, growing at a CAGR of around 5% between 2015 and 2020. In terms of volume, the global pressure sensitive adhesives market stood at 2.65 million tons in 2014.
Pressure sensitive adhesives are the adhesives that form a bond with the surface when pressure is applied. Pressure sensitive adhesives are made up of various compositions of chemicals like acrylic, silicone, polyurethane, and styrene butadiene. Pressure sensitive adhesives are used in host industries such as building & construction, electrical and electronics, packaging and automotive for various applications. Pressure sensitive adhesives (PSAs) require pressure to create bonding between the adhesive and the substrate. No solvent, water, or heat is needed to activate the adhesive.
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The pressure sensitive adhesives market is segmented on the basis of different types of pressure sensitive adhesives products such as water-based pressure sensitive adhesives, solvent-based pressure sensitive adhesives, hot melt pressure sensitive adhesives, and radiation cured pressure sensitive adhesives. The water based pressure sensitive adhesives dominated the market with around 60% share in total revenue generated in 2014. It is also expected to continue to be the fastest growing segment over the forecast period. The second largest product segment was solvent-based pressure sensitive adhesives in 2014. Solvent based pressure sensitive adhesives are expected to grow at the slowest CAGR during the forecast period slightly losing its market share by the end of 2020.
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The pressure sensitive adhesives market is segmented on the basis of various application segments such as tapes, specialty, labels, graphics and other applications including dental adhesives, notepads, etc. In 2014, the tapes dominated the pressure sensitive adhesives application market and accounted around 40% total shares of the market. The labeling application is expected to exhibit fastest growth rate during the next five years. Furthermore, the increasing demand for lighter vehicles in automotive industries is expected to drive demand for specialty pressure sensitive adhesives.
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Asia Pacific dominated the global pressure sensitive adhesives market and accounted around 45% of the total volume in 2014. Strong growth in automotive and electronic industry in the region is the major reason behind strong demand for pressure sensitive adhesives. Moreover, consumer goods such as footwear, office stationary and furniture are also anticipated to record strong demand for pressure sensitive adhesives in the years to come. North America, Europe, Latin America, and Middle East & Africa are other regions following Asia Pacific.
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3M Company, HB Fuller, Henkel AG, Avery Dennison, Collano Adhesives AG, Novamelt, Bostika S.A., BASF SE, LG Chemicals, and Ashland, Inc. are the key players operating in this industry.
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