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Global Pressure Sensitive Adhesives to Reach USD 8,501.06 Million by 2020: MarketsandMarkets

Published on 2015-06-05. Author : SpecialChem

The report “Pressure Sensitive Adhesives Market by Technology Types (Water Based, Solvent Based, Hot Melt & Radiation), by Applications (Industrial Tapes, Specialty, Medical Tapes and Others), and by Region - Global Trends & Forecasts to 2020”, defines and segments the PSA market with analysis and forecasts of the market size.
The global pressure sensitive adhesives market in terms of volume is projected to reach $8,501.06 Million by 2020.

Asia-Pacific – The biggest market of pressure sensitive adhesives

Asia-Pacific is the major customer of PSA in the world. Henkel Adhesives Technologies India Pvt. Ltd. (India), H.B. Fuller Korea Ltd. (South Korea), Scapa Tapes India Ltd. (India), and 3M India Ltd. are the leading players in the Asia-Pacific market. Asia-Pacific countries are flexible regarding laws and regulations for VOC emissions, and as a result, solvent-based technologies are also growing in these markets. The demand for commodities and appliances in this region is huge and this is the key driving factor for PSA demand in applications such as tapes, labels, graphics, and so on. The automobile industry continues to grow highly in Asia-Pacific markets, such as China and India, which leverage the demand of tapes for automobile applications. China is the largest market for PSA due to strong governmental support for FDI, no political interference, and favorable economic conditions.

“Water-based PSA is the biggest and fastest-growing market among various technologies used for manufacturing of PSA."

In the lights of ever-tightening governmental and environmental legislation and regulations to reduce VOC emissions, the PSA industry is rapidly changing from solvent-based to water-based technology for manufacturing adhesives. Water-based technology is a globally accepted technology and is much cheaper than solvent-based technology. A wide variety of materials such as acrylics, natural rubber, and styrene butadiene can be used with this technology effectively. Using water-based technology leads to a safer work place and there are lesser chances of hazards.

Among the various applications of PSA, labels represent the largest market for pressure sensitive adhesives. Labels find wide applications in medical, food packaging, commodities, general purpose products, pharmaceuticals, cosmetics, and so on.
Industrial tape is among the largest market for PSAs due to its applications in aerospace, automotive, construction, marine, and other sectors. Industrial tapes are further classified as cloth, masking, and packaging tapes.

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Source: MarketsandMarkets

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