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Pressure Sensitive Adhesives Market - By Technology (Water Based, Solvent Based, Hot-Melt, UV-Cured), By Product (Acrylic, Silicone), By Application (Tapes, Labels, Graphics), By Sector (F&B, Packaging, Healthcare, Building & Construction) - Global Forecast to 2032
Report ID: GMI2385
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Published Date: March 2023
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Report Format: PDF
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Premium Report Details
Base Year: 2022
Companies covered: 17
Tables & Figures: 517
Countries covered: 20
Pages: 410
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Pressure Sensitive Adhesives Market Size
Pressure Sensitive Adhesives Market size surpassed USD 8.3 billion in 2022 and is likely to grow at 6% CAGR from 2023 to 2032 due to rising use of tapes and labels in automotive & transportation applications.
Pressure-sensitive tapes are utilized in the car’s exterior and interior trim, bonnet, and body as they offer a multitude of benefits over conventional adhesive methods. Owing to their vibration and noise-damping capabilities, they improve the driving experience without increasing the weight of the vehicle. The surging use of tapes and labels in the manufacturing of lightweight vehicles is likely to pave the way for industry progress.
Pressure-sensitive adhesives are also considered reliable for electric vehicles’ battery pack applications such as dielectric insulation, flame retardance, bonding, and others. The growing inclination of customers towards electric cars is likely to proliferate the demand for pressure-sensitive tapes.
Stee raw material prices may constrain industry development
Pressure-sensitive raw materials such as organic & inorganic chemicals, synthetic rubber, and acrylate monomer are derived from petroleum products. The prices of these raw materials are severely affected by fluctuating oil prices. Especially, the COVID-19 pandemic resulted in large fluctuations in the prices of refined petroleum products in the first half of 2020. In fact, the oil demand from China witnessed a sharp decline and reduced by 3 million barrels daily, which further affected its price.
Pressure Sensitive Adhesives Market Analysis
Based on technology, pressure sensitive adhesives market from the water-based segment is expected to record a valuation of over USD 6.3 billion by 2032. Water-based pressure-sensitive adhesives have superior transparency retention properties and demonstrate excellent adhesion to polar substrates. They also possess excellent bonding characteristics such as tack, peel, and cohesive strengths, low-temperature adhesion, superior flow & levelling capabilities, and demonstrate a high level of clarity in dry films.
Based on product, pressure sensitive adhesives market from the acrylic-based segment is poised to depict over USD 7 billion by 2032. The acrylic pressure-sensitive adhesives offer the widest performance range and are better resistant to water, chemical, and heat as compared to other adhesive categories. They demonstrate superior resistance to UV, aging characteristics, and higher temperature stability than rubber-based adhesives. In addition, they are compatible with many surfaces and demonstrate a strong initial bond which gets even stronger over time.
With respect to application, pressure sensitive adhesives market from the tapes segment is expected to grow at over 6.5% CAGR from 2023 to 2032. These tapes can be used for various purposes such as sound suppression, heat management, surface protection, noise reduction, masking off surfaces, and others. Pressure-sensitive adhesive tapes only require pressure and can even bond dissimilar materials without incompatibility issues. When applied with pressure over clean and dry surfaces, these tapes are compatible with various substrates.
Asia Pacific pressure sensitive adhesive market is slated to exhibit over USD 6 billion by 2032. The rising demand for pressure-sensitive adhesives in the region can be attributed to growing industrial sector. In fact, the packaging industry is developing at over 25% annually in India, which is likely to proliferate the demand for these adhesives.
Moreover, the rapidly growing automotive industry in China is further contributing to regional expansion. The country is the world’s largest vehicle market in terms of manufacturing output and sales and its domestic vehicle production capacity is expected to reach 35 million by 2025.
Pressure Sensitive Adhesives Market Share
The list of leading pressure sensitive adhesives market players includes names such as :
Many of these firms are emphasizing mergers and acquisition strategies to reinforce their industry position.
Impact of the COVID-19 pandemic
The COVID-19 pandemic asserted a negative impact on pressure-sensitive adhesives industry on account of disruptions in automotive and packaging sectors, which are its major end-users. In fact, the sales of the new vehicle dropped by 92% in February 2020 in China. Likewise, in Europe, the sales of vehicles fell by 7.4% as compared to 2019. However, the reviving automotive industry is likely to bring the market back to normalcy.
The pressure sensitive adhesives market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:
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Market, By Technology
Market, By Product
Market, By Application
Market, By Sector
The above information is provided on a regional and country basis for the following: