Industry News

Packaging Industry Holds Largest Market Share in PSA Market: MarketsandMarkets

Published on 2016-11-01. Author : SpecialChem

Pressure Sensitive Adhesives Market
Water-based PSAs are widely used in varied
applications such as tapes, labels, and graphics
MarketsandMarkets has released the new report "Pressure Sensitive Adhesives Market - Global Forecast to 2021”. The pressure sensitive adhesives (PSA) market is projected to reach USD 11.22 Billion by 2021, at a CAGR of 6.1% between 2016 and 2021. The increasing need for bio-based PSAs is propelling the development of innovative products in the PSA market.

The report has done in-depth analysis on Pressure Sensitive Adhesives Market by:
  • Chemistry (Acrylic, Rubber, EVA)
  • Technology (Water-based, Solvent-based, Hot Melt)
  • Application (Labels, Tapes, Graphics)
  • End-Use Industry (Packaging, Automotive, Medical)
  • Region 

Acrylic - Largest Chemistry Segment

Based on chemistry, acrylic is the largest segment of the PSA market, owing to its extensive usage in two major applications, namely, labels and tapes. It is widely used in the automotive & transportation and medical & healthcare end-use industries. It is highly preferred due to its resistance to aging, moderate cost, and excellent physical properties such as peel adhesion, high cohesion, UV resistance, chemical & humidity resistance, high cutability, and thermal stability.

Water-based - Largest Technology Segment

Water-based technology is the largest segment in the PSA market; this growth is mainly attributed to the eco-friendly nature of water-based PSAs, safety associated with their use, and cost-effectiveness. Water-based PSAs are widely used in varied applications such as tapes, labels, and graphics.

Labels - Largest Application Segment

The labels segment is estimated to account for the largest market share, in terms of value as well as volume, followed by tapes and graphics, in 2016. Labels are widely used in varied end-use industries such as medical & healthcare, packaging, and electronics, electrical & telecommunication, among others. They are also utilized in sectors such as consumer goods, HVAC (heating, ventilation, and air conditioning), and food & beverage.

Packaging End-use Industry - Largest Market Share

PSAs are used in varied end-use industries such as packaging; electronics, electrical & telecommunication; medical & healthcare; and building & construction; among others. The packaging end-use industry is estimated to account for the largest market share, in terms of volume, in 2016. The electronics, electrical & telecommunication end-use industry is estimated to grow at the highest CAGR between 2016 and 2021, in terms of value. Increasing per capita income and improving living standards are driving the demand for electronic products, which further propels the growth of the PSA market.

Asia-Pacific - Largest Regional Segment

The Asia-Pacific region is the largest regional segment of the PSA market, owing to rise in industrial and infrastructural developments. Asia-Pacific has emerged as the leading consumer as well as producer of PSAs, due to the increasing demand for pressure sensitive adhesives from India, South Korea, China, and Indonesia, among others.

About MarketsandMarkets

MarketsandMarkets is one of the largest market research firms worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals.

It specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM".  

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Source: MarketsandMarkets
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