The global pressure sensitive adhesives industry was worth over US$ 51 Bn in 2020, expanding at a CAGR exceeding 3% across the 2016-2020 historical period.
MAHARASHTRA, INDIA, September 8, 2021 /EINPresswire.com/ — According to new Fact.MR research, the pressure-sensitive adhesives market is estimated to grow at a CAGR of more than 6% to reach US$ 93 Bn across the 2021-2031 forecast period. In the short-run, the market is expected to reach US$ 78 Bn by 2026. Rising demand for inexpensive flexible packaging has majorly sustained demand.
Key Points Addressed in Pressure Sensitive Adhesives Industry Analysis
• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• Recommendation on Key Winning Strategies
Historically, from 2016 to 2020, sales of pressure sensitive adhesives expanded at above 3% CAGR, clocking more than US$ 51 Bn. The industry received strong tailwinds amidst COVID-19- as burgeoning e-commerce operations due to stringent restrictions stimulated demand for safe, secure and flexible packaging solutions- particularly across the food & beverage and pharmaceutical industries.
According to Fact.MR, market demand for pressure sensitive adhesives will receive further stimulus- most notably from the automotive and packaging industries respectively. Consequently, a flurry of innovative product launches and collaborations with prominent players are on the cards- providing an opportunity for further revenue expansion.
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Key Takeaways from the Market Study
• Acrylic-based pressure sensitive adhesives to expand at nearly 5% CAGR
• Polypropylene backed adhesives to exhibit promising growth, registering 6% CAGR
• By type, tapes to remain top selling, growing at over 5% CAGR through 2031
• Over 80% of the demand for pressure-sensitive adhesives is accounted for by China, India, Japan, and South Korea.
• U.S to be a highly promising market, with revenues surpassing 1/4th as of 2020
• U.K market to expand at around 6% CAGR through 2031
• Global market for pressure sensitive adhesives to expand 1.8x until 2031
“Rapid technological advancements in the global packaging industry is prompting increased uptake of lightweight and flexible solutions, widening prospects for pressure sensitive adhesives,” says a Fact.MR analyst.
How will Automotive Industry Generate Pressure Sensitive Adhesives Demand?
Pressure sensitive adhesives are utilized in a variety of automotive applications, including assembly, securing carpets to different vehicle interior substrates, brake shims, wire wrapping, foam & fiber bonding, securing gaskets in a variety of configurations, and others.
Furthermore, polypropylene is utilized to replace medium surface energy materials used in convectional fuel tanks. To avoid melting, this tank requires appropriate heat shielding from vehicle temperature.
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Leading manufacturers are forming alliances to create low-cost, flexible, and environmentally friendly goods while complying with government regulations to remain competitive in the market. Some notable developments are:
• For instance, 3M Company offers the 3MTM Pressure Sensitive Spray Adhesive 72- a permanently tacky industrial grade spray adhesive, which offers an aggressive hold that bonds plastic, foam paddling and carpet backing among other substrates
• Similarly, Tesa SE has introduced a range of pressure sensitive adhesives for electric vehicles. These adhesive tapes offer robust permanent bonding of battery cells and insulation of electronic components
Key Segments Covered
• Acrylic-based Pressure Sensitive Adhesives
• Rubber-based Pressure Sensitive Adhesives
• Other Pressure Sensitive Adhesive Types
• Polypropylene-based Pressure Sensitive Adhesives
• Paper-based Pressure Sensitive Adhesives
• Polyvinyl Chloride-based Pressure Sensitive Adhesives
• Other Backing Material-based Pressure Sensitive Adhesives
• Pressure Sensitive Tapes
• Pressure Sensitive Labels
• Pressure Sensitive Hygiene Adhesives
• Pressure Sensitive Graphic Films
• Pressure Sensitive Medical Adhesives
• Pressure Sensitive Adhesives for Other Applications
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A recent study by Fact.MR on the pressure sensitive adhesives market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering pressure sensitive adhesives.
Key Questions Answered in Report
• Which are the most lucrative pressure sensitive adhesives markets?
• Which factors will impact the growth of pressure sensitive adhesives?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the pressure sensitive adhesives industry?
• What are the winning strategies of stakeholders in the market?
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Source: EIN Presswire