Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Pressure Sensitive Adhesive market fueling the market growth in the wake of increasing automotive sector and rising demand for labels
The global pressure sensitive adhesives market has the potential to grow with USD 20 billion with propelling CAGR in the forecast period from 2020-2027. The emerging demand for pressure-sensitive adhesives owes to the rise in the greenhouse gas emission, the need for informing the customer about food safety. Moreover, the emerging use for labels and packaging is bolstering the marketing of the MNCs are supporting market demand of pressure sensitive adhesives market.
With the increasing ability of pressure-sensitive adhesives in automotive and labeling applications, factors such as increasingly severe health problems, strict energy efficiency regulations, and rising environmental issues for greenhouse gas emissions expected to be within the forecast period have a positive impact on demand.
Product innovation is the most extensive development strategy implemented by the company. Adhesives have always focused on building existing products while developing new, innovative, and competitive products. For example, to increase its product portfolio, Ashland introduced Arocure UV curable pressure-sensitive adhesives for special adhesive tapes. These bonding systems are based on hot melt technology.
Technology overview in the Global Pressure Sensitive Adhesive Market
Based on the technology, the global pressure sensitive adhesive market segment into Water-based, Solvent-based, Hot Melt, Radiation-cured (Radiation-cured Hot Melt, Radiation-cured Syrup-based). The radiation-cured segment accounted for the largest share in the global pressure sensitive adhesives market. Under the radiation-cured section, hot melt adhesive is dominating market demand owing to its cost-effectiveness, used in various purposes such as tapes, labels, or medical products. Moreover, it is suitable for installation, insulation, or safety and has a wide temperature range coupled with excellent adhesion to PE and PP.
Adhesive Chemistry overview in the Global Pressure Sensitive Adhesive Market
Based on the adhesive chemistry, the global pressure sensitive adhesive market classified into Acrylic, Rubber, Silicone, Others. The acrylic segment is estimated to dominates the maximum share of the pressure-sensitive adhesive market in the forecast period. It is mainly owing to its various properties that include excellent chemical resistance, heat resistance, and aging resistance. Moreover, it is suitable for wipes and bottle labeling and has excellent processability.
Product overview in the Global Pressure Sensitive Adhesive Market
Based on the product, the global pressure sensitive adhesive market segmented into Tapes, Labels, Graphics Films, Others. Tapes dominate the largest market share in the universal pressure-sensitive adhesive. The automotive industry characterized by fierce competition, dynamic supply chains, and high-cost concerns. Tape adhesives can use in a variety of applications, including automotive interior panels and low surface energy products. Moreover, tape adhesive has excellent properties such as high-temperature resistance and low atomization.
End-Use overview in the Global Pressure Sensitive Adhesive Market
Based on the end-user, the global pressure sensitive adhesive market classified into Automotive, Electronics, Consumer Goods, Packaging, Construction, Others. The packaging segment has dominated the largest share in the global pressure sensitive adhesives market. It is mainly the demand for packaging rising in the food industry to protect food from contamination during the transportation process. Also, to promote the need for safe, reliable, and food safety adhesive packaging.
Region overview in the Global Pressure Sensitive Adhesive Market
Based on geography, the global pressure sensitive adhesive market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific region is capturing the largest market share of the global pressure sensitive market. It is mainly to the emerging demand for adhesives in automotive and food packaging and many other sectors. Promoting the safety measures and informing the customer about food safety are increasing share for pressure-sensitive adhesive demand in the Asia Pacific.
Global Pressure Sensitive Adhesive Market: Competitive Landscape
Companies such as ExxonMobil Chemicals, Arizona Chemicals, ASF SE, The Dow Chemical Company, Scapa Group Plc, Avery Dennison, Henkel Ag & Co. KGaA, BMW, Daimler, Boeing, Siemens, and others are key players in the global pressure sensitive adhesive market.