The global pressure sensitive adhesive (PSA) market size is expected to reach USD 15.98 Billion in 2028 and register a revenue CAGR of 5.8% over the forecast period, according to the latest report by Reports and Data. Steady growth in the construction industry and increasing number of construction activities in developing countries are some key factors expected to drive market revenue growth during the forecast period. The construction industry is increasingly utilizing pressure sensitive adhesive as an insulation barrier around doors and windows. Pressure sensitive adhesives prevents water and air from infiltrating the home, which enables enhancing of energy efficiency as well as longevity and durability of buildings. Advancements in design of customer electronics is projected to boost demand for PSAs and drive revenue growth of the market during the forecast period. Increasing demand for electronic devices that are continually decreasing in size and increasing in efficiency and functionality are driving rapid demand for pressure sensitive adhesives. Thermally conductive adhesive tape is specifically used to dissipate heat within electronic products. Excellent conformability and strength, high-temperature resistance, and compatibility with Polytetrafluoroethylene (PTFE), polyimide, and glass cloth backings provided by the pressure sensitive adhesives products for electrical and electronic tape applications are augmenting growth of the pressure sensitive adhesives market. Rapid urbanization in developing countries is expected to boost market growth in the region. Steady growth across various industries and production expansion in developing countries such as automotive, pharmaceuticals, electronics, manufacturing, and packaging are projected to increase utilization of pressure sensitive adhesives going ahead.
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Some Key Highlights From the Report
- In August 2020, Henkel Adhesive Technologies announced the establishment of a new, state-of-the-art production area for UV-curable acrylic pressure sensitive adhesives (PSA) at the site in Salisbury, North Carolina. Establishment of the new production facility was to meet rising demand for sustainable UV-curable adhesives for tapes and label applications. Expansion of the existing site will also help the company to broaden its capabilities and to provide more sustainable and innovative pressure sensitive adhesive solutions to label, tape, medical, and graphic films markets.
- Tapes segment is expected to account for largest revenue share in the global pressure sensitive adhesive market over the forecast period owing to the increasing utilization of pressure sensitive adhesive tapes in the packaging and healthcare industry. The superior flexibility to follow curved surfaces and movement, low skin irritation, and high moisture permeability offered by surgical tapes based on pressure sensitive adhesives are driving revenue growth of this segment.
- Acrylic segment is expected to register a significantly rapid revenue growth rate over the forecast period. Better heat and oxygen resistance provided by acrylic-based pressure sensitive adhesives is boosting their usage across major industrial verticals. Applications include automotive tapes, wound dressings, durable labels, surgical drapes, pharmaceutical labels, removable and resealable labels, over-laminating films, and vehicle graphics.
- Water-based segment is expected to account for large revenue share in the global pressure sensitive adhesive market owing to increasing usage of water-based pressure sensitive adhesives in wound dressings, bandages, and medical tapes.
- Packaging segment revenue is expected to expand significantly over the forecast period owing to rising demand for flexible packaging solutions across major industry verticals.
- The pressure sensitive adhesive market in Asia Pacific is expected to account for largest revenue share over the forecast period. Growth in the automotive industry and rise in demand for lightweight vehicles is driving demand for high-performance materials and boosting market growth in the region.
- Some major players in the market include Henkel AG Co. KGaA, The Dow Chemical Company, Avery Dennison Corporation, H.B. Fuller Company, The 3M Company, Arkema S.A., Sika AG, Scapa Group, Ashland Global Specialty Chemicals Inc., and Franklin Adhesives Polymers.
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For the purpose of this report, Reports and Data has segmented the global pressure sensitive adhesive (PSA) market based on product type, composition, technology, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Tapes
- Labels
- Films
- Others
Composition Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Acrylic
- Rubber
- Ethylene Vinyl Acetate
- Silicone
- Polyurethane
- Others
Technology Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Water-Based
- Radiation Cured
- Solvent-Based
- Hot Melt
Industry Vertical Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Packaging
- Automotive
- Healthcare
- Building Construction
- Others
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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