Pressure Sensitive Adhesives Market Set to Soar Past USD 16.71 Billion by 2030
The global Pressure Sensitive Adhesives market size is expected to reach USD 16.71 billion by 2030 and exhibit a CAGR of 4.3% in the forecast period (2023−2030), according to Skyquest’s latest research report. The growing demand from the packaging industry for labeling and flexible packaging applications, increasing adoption in the automotive sector for lightweight bonding solutions, expanding electronics and electrical industry for device assembly, rising use in medical applications for wound care and device attachment, and the trend toward sustainable and environmentally friendly adhesive products is fueling the market’s growth.
Westford, USA, Feb. 02, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Pressure Sensitive Adhesives market, growing demand for low-VOC and environmentally friendly adhesives to meet sustainability goals, increased usage in the medical and healthcare sectors for applications such as wearable devices and medical tapes, rising adoption in the electronics industry due to miniaturization and flexible electronics, ongoing innovation in adhesive technology for improved performance and application versatility, and the expansion of e-commerce driving demand for packaging adhesives in the logistics and shipping sector are the trends that aid in the market’s growth.
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- Pages – 157
- Tables – 123
- Figures – 77
A pressure sensitive adhesive (PSA) is an adhesive that forms a bond to a surface when pressure is applied, without the need for heat or solvents. PSAs are typically made from a mixture of polymers, resins, and tackifiers. They are used in a wide variety of applications, including tapes, labels, stickers, and packaging.
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Prominent Players in Pressure Sensitive Adhesives Market
- Avery Dennison
- H.B. Fuller
- Wacker Chemie
- Momentive Performance Materials
- LG Chem
- Beardow Adams
- Nitto Denko
- Nitto Electric Industrial
- Sekisui Chemical
- Showa Denko
- Toyo Seikan Group
- DIC Corporation
Water-Based Pressure-Sensitive Adhesives (PSAs) Demand to Grow Substantially in the Forecast Period
Water-based pressure-sensitive adhesives (PSAs) dominate the global online market as they have gained prominence due to their eco-friendly nature with lower volatile organic compound (VOC) emissions. They are favored for various applications, including packaging, labels, and tapes, where environmental regulations and sustainability concerns play a significant role. The dominance of water-based PSAs may continue to grow as sustainability becomes a more significant driver in adhesive selection.
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Packaging is the Leading Application Segment
In terms of application, the packaging is the leading segment as pressure-sensitive adhesives are extensively used in labels, tapes, and flexible packaging applications. The demand for convenient and attractive packaging solutions in various consumer goods sectors, including food and beverages, personal care, and pharmaceuticals, continues to fuel sales. Additionally, the growth of e-commerce and online retail has increased the need for secure and efficient packaging solutions.
North America is the leading Market Due to the Technological Advancements
North America, particularly the United States, has been a dominant player in the PSA market. Several factors contribute to this dominance, including a robust manufacturing sector, a strong presence of key PSA manufacturers, and a diverse range of industries that use PSAs, including packaging, automotive, electronics, and healthcare. Additionally, stringent regulations on labeling and environmental concerns have driven the adoption of PSAs in the region.
A recent report thoroughly analyzes the major players operating within the Pressure Sensitive Adhesives market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the significant players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Pressure Sensitive Adhesives.
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Key Developments in Pressure Sensitive Adhesives Market
- In April 2023, Henkel AG & Co. KGaA announced the expansion of its pressure-sensitive adhesives production capacity in North America to meet the growing regional demand. The company invested in new equipment and technologies to enhance its manufacturing capabilities.
Key Questions Answered in Pressure Sensitive Adhesives Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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