Pressure Sensitive Adhesives Market Forecasts to 2028 – Global Analysis By Product (Acrylic-Based, Silicone, Polyurethane, Polyolefin), Technology (Solvent-Based, Water Based, Hot Melt), Application (Labels, Films & Laminates, Tapes, Graphics), End User (

Pressure Sensitive Adhesives Market Forecasts to 2028 – Global Analysis By Product (Acrylic-Based, Silicone, Polyurethane, Polyolefin), Technology (Solvent-Based, Water Based, Hot Melt), Application (Labels, Films & Laminates, Tapes, Graphics), End User (Food & Beverage, Building & Construction, Packaging, Medical & Healthcare), and By Geography

According to Stratistics MRC, the Global Pressure Sensitive Adhesives Market is accounted for $10.70 billion in 2021 and is expected to reach $18.46 billion by 2028 growing at a CAGR of 8.1% during the forecast period. PSA is a kind of non-responsive adhesive, which forms a bond when stress is applied to bond a surface with an adhesive. These adhesives do not require activation by solvent, heat, or water to apply holding force on various materials. As a result, they remain permanently tacky and have the potential to wet surfaces on contact. The binding capability of the pressure-sensitive adhesive purely depends on the polar attraction to the surface of a substrates. They are either removable or permanent and have the ability to match wide variety of substrates. It widely finds its application in packaging, consumer electronics, automotive, and construction sectors.

The adhesives market has significant sales in construction industry and accounts for more than 26% share of the global demand driven by growing demand for wall and floor coverings, building refurbishment and maintenance, components such as panels, or for thermal insulation. The global adhesives market is expected to grow to $109.28 billion in 2026, because of the increasing consumption of long-term bonding agents across versatile industries backed by sustainable industrialization. According to Department for Promotion of Industry and Internal Trade (DPIIT), Foreign Direct Investment (FDI) in construction development sector (townships, housing, built up infrastructure and construction development projects) stood at USD 25.66 billion during April 2000 to March 2020.

Market Dynamics:

Driver:

Extensive use in food and convenience packaging

Increasing population will create a high demand for food and will be one of the key drivers spurring the prospects for growth in this market. At present, it has been observed that changes in urban lifestyle have promoted the usage of packaged food all around the world. The recent increase in household income will boost the industry due to the expected growth in the advanced flexible packing of products like fish, meat, poultry, snacks, and pet food. Furthermore, the use of microwavable pouches and peel-off lids as flexible packaging products will gain popularity due to changing consumer lifestyles. With the rising demand for convenient, flexible packaging solutions, customers will be looking for easy to open, higher quality, and lightweight packing materials. Therefore, the demand for pressure-sensitive adhesives is to grow steadily during the predicted period, owing to its extensive use in food and convenience packaging.

Restraint:

Regulations regarding PSAs

Presence of ecological rules concerning VOC emissions is restricting the demand for solvent based PSA’s. Severe impact of VOCs on human health has resulted in deployment of more strict regulations to lessen usage or ensure diminution of potential negative effects of VOCs. Superior concentrations of VOCs could cause respiratory circumstances, as well as damage to kidney, liver, or Central Nervous System (CNS). Regulations limiting VOC content of adhesives and sealants apply to people who use, sell, or manufacture such products. Manufacturers of pressure sensitive adhesives are faced with regulations which are restraining market growth. In addition, the need to comply with the FDA regulations on use of adhesives in food packaging, which also applies to pressure sensitive adhesives, is another factor which might act as a challenge to demand for products.

Opportunity:

Rising expansion of bio-based pressure-sensitive adhesives

The rising expansion of bio-based PSA’s owing to increasing ecological concerns is likely to provide possible market opportunities. Bio-based PSA’s reduce the environmental effects by reducing the level of carbon footprints. They are derived from starch, soy, and vegetable oils and can compete with petroleum-based adhesives. The bio-based PSAs are considered ""carbon neutral"" because their plant-derived raw materials absorb the same amount of CO2 during production as they emit when incinerated at the end of product life. Also, polyols, bio-derived from soybeans is used in the manufacturing of PSA’s. Bio-based PSAs can help reduce the demand for petroleum sources by replacing them with renewable plant-based materials. Therefore, the growing development of bio-based pressure sensitive adhesives is expected to fuel market growth.

Threat:

Low adhesive strength

The major challenges faced by the PSA’s are that the adhesive strength (shear and peel) is low and that it is generally sensitive to high temperatures and solvents. As a result, most PSA’s are unsuitable for high strength or structural applications. They are often used with substrates that are relatively weak, such as paper or film. Pressure sensitive adhesives are also unsuitable for rough surfaces and are relatively costly in terms of cost per bond area. Therefore, owing to the above mentioned properties the market growth for PSAs is estimated to face challenges in the upcoming years.

The water based segment is expected to be the largest during the forecast period

The water based segment is estimated to have a lucrative growth during the forecast period, due to increasing demand from the medical and packaging industries and exceptional characteristics such as cohesive strengths, wide-ranging peel, exceptional clarity in dry films, excellent levelling & flow, and low temperature adhesion. Water-based technology finds applications in pressure-sensitive tapes, labels, glue dots, note pads, automobile trims, films & peelable and specialty applications in different industries such as packaging, electrical, electronics & telecommunication, medical & healthcare, and automotive. It is ideal for porous and non-puros substrates. Moreover, different types of monomers can be used during formulation of water-based PSAs to achieve chosen properties such as peel strength, shear strength, and tackiness.

The packaging segment is expected to have the highest CAGR during the forecast period

The packaging segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the extensive product usage in the sector, increasing use of packaging tapes such as polypropylene tapes in a variety of applications including packaging transport, cartons, goods, warehousing, and logistics. Tapes find various applications in packaging industry ranging from containers, boxes, and envelopes to bank bags and pouches. There are two types of packaging namely flexible and rigid, pressure sensitive adhesives (PSAs) are used in these packaging depending on the application's suitability. These adhesives are used in the packaging of electronics and electrical devices, hygiene and medical packaging, drug delivery packaging, construction sector transit packaging, automotive-related logistics packaging, and consumer and industrial goods packaging, among others.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to rise in infrastructural activities in countries such as India and China, economic growth, and favorable initiatives. Further, the rise in demand for low volatile organic compound (VOCs) content adhesives from countries such as China, Japan, and India increases the demand for water based pressure sensitive adhesives. This region encompasses a diverse range of economies with different levels of economic development and a large variety of industries. China is one of the major exporters of adhesive products (tapes, labels, etc.) and the factors concerning the majority of its customers are quality of the product, product range offered by the vendor, and reducing the dosage and wastage of adhesives. Owing to this reason, international players currently dominate the Chinese market for pressure-sensitive adhesives. Electronic sector in India has been experiencing rapid growth owing to rise in sales of consumer electronic goods such as flat panel televisions, laptops, smart phones, and others.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, due to rising investment in R&D activities for manufacturing of enhanced and effective PSA’s and tapes for use in various end-use industries such as packaging, automotive, healthcare, electrical and electronics, and building & construction industries. With increased corporate emphasis and government spending on emerging technologies, innovation, novel materials, and sustainability, PSAs based on UV/EB technology are anticipated to expand at a rapid pace in North America. The regulatory agencies including REACH, U.S., and EPA have strict norms to improve sustainability. This includes considerable investment by the companies to develop eco-friendly product portfolio in accordance with the norms.

Key players in the market

Some of the key players profiled in the Pressure Sensitive Adhesives Market include Henkel AG & Company KGAA, Arkema Group, H.B Fuller Company, BASF SE, Avery Dennison Corporation, Ashland Inc., Dow Chemical Company, LG Chem, Bostik SA, Evonik Industries AG, Tesa SE, Exxon Mobil Corporation, Mitsubishi Chemical Holdings Corp., LINTEC Corporation, Covestro AG, and Sika AG.

Key Developments:

In Feb 2020, Henkel Adhesives Technologies opened its new production facility in Kurkumbh, India, near Pune. The unit aims to serve the growing demand for high-performance solutions in adhesives, sealants, and surface treatment products in Indian industries. Designed as a smart factory, the new plant also will also help a wide range of Industry 4.0 operations and meet the highest standards for sustainability.

In Sep 2019, Arkema showcased and announced a new range of PSAs at the LabelExpo 2019. The new range included products with enhanced performance and sustainability to meet the increasing demand for these adhesives from the packaging, construction, and automotive sectors.

In June 2019, BASF SE, a global leader in manufacturing raw materials for pressure sensitive adhesives, doubled its manufacturing capacity of acResin at its Ludwigshafen site, Germany. AcResin is a UV acrylic hot melt, used in manufacturing of the pressure sensitive adhesives.

In Nov 2018, H.B. Fuller launched a new product named Swiftmelt 1908, in India at the Labelexpo 2018. The product was customized to meet the unique requirements in India and was designed for providing high adhesion, precise die cutting performance, and clean converting on holographic label stock.

Products Covered:
• Acrylic-Based Pressure Sensitive Adhesives (PSA)
• Elastomers/Rubber-Based Pressure Sensitive Adhesives (PSA)
• Silicone
• Ethylene Vinyl Acetate (EVA)
• Polyurethane
• Polyvinyl Ether
• Polyisobutene
• Polybutadiene
• Polyolefin
• Polyester
• Polyamide
• Other Products

Technologies Covered:
• Solvent-Based
• Ultraviolet (UV)-Cured
• Water Based
• Hot Melt
• Electron Beam
• Radiation-Cured

Backing Materials Covered:
• Paper-Based Pressure Sensitive Adhesives
• Polypropylene-Based Pressure Sensitive Adhesives
• Polyvinyl Chloride-Based Pressure Sensitive Adhesives

Applications Covered:
• Labels
• Films & Laminates
• Tapes
• Graphics
• Pressure Sensitive Hygiene Adhesives
• Pressure Sensitive Medical Adhesives
• Other Applications

End Users Covered:
• Electrical, Electronics, & Laminates
• Food & Beverage
• Building & Construction
• Packaging
• Automotive & Transportation
• Medical & Healthcare
• Consumer Goods
• Telecommunication
• Woodworking and Joinery
• Renewable Energy
• Commercial Graphics
• Furniture
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances