TAGS: Acrylic Adhesives Polyurethane Adhesives Waterborne Adhesives
Research and Markets (RM) anticipates that global pressure-sensitive adhesives market forecast which was valued at USD 9.8 billion in 2020, and is projected to reach USD 17.6 billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030 forecast period.
Pressure-sensitive adhesives come under the category of non-reactive materials, and bond formation in these types of adhesives occurs when some pressure is applied to the substrate. It is manufactured in liquid and solid form.
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Adoption of PSAs in the Automotive Industry
The growth of the global pressure-sensitive adhesives market is driven by an increase in the adoption of PSAs in automotive, packaging, and building & construction end-use industries. The utilization of pressure-sensitive adhesives (PSAs) in construction activities such as wood connections made with high-performance PSAs tapes has significant promise for mitigating damage in buildings under high wind or seismic conditions.
Advantages of using PSAs in the construction industry include joint ductility and sealing protection from water-intrusion damage. In addition, pressure-sensitive adhesive tapes are utilized for insulation of buildings to offer protection from various environmental factors such as cold, heat, noise, precipitation, and others. Thus, all these factors together are predicted to augment the demand for pressure-sensitive adhesives global market.
Related Read: PSA Formulation Strategies for Tapes & Labels
However, Environmental Protection Agency (EPA) defined VOCs as "any compound of carbon, excluding carbon monoxide, carbon dioxide, carbonic acid, metallic carbides or carbonates, and ammonium carbonate, which participates in atmospheric photochemical reactions." VOCs found in certain pressure-sensitive adhesives have the tendency to react with nitrogen oxides present in the atmosphere to form ozone, which poses a health threat by causing respiratory problems. Solvent-based adhesives containing certain solvents emit VOCs, owing to which the market is experiencing a shift towards VOC-free water-based adhesives, which is likely to hamper the market growth.
Increased Demand of Silicone-based PSAs in India
Conversely, an increase in the adoption of pressure-sensitive adhesives in the healthcare sector is predicted to offer a new opportunity in the global market. There are several medical devices that need to be attached to the skin, ileostomy, and colostomy are medical devices that will be attached to the skin and require proper adhesive for bearing load.
Majorly, silicone-based PSA is used for such application and it can also be used with prosthetic appliances or the impregnation of hairpieces. There has been a noteworthy rise in the number of hospitals and clinics in countries such as India and Malaysia, which has led to an increased demand for medical technology and equipment.
The pressure-sensitive adhesives market is segmented on the basis of chemical composition, technology, application, end-use, and region. On the basis of chemical composition, the market is categorized into acrylic, rubber, ethylene vinyl acetate, silicone, polyurethane, and others.
On the basis of technology, the market is categorized into water-based, radiation cured, solvent-based, and hot melt. The applications covered in the study include tapes, labels, graphics, and others. By end-use, the market is divided into packaging, automotive, healthcare, building & construction, electronics, consumer goods, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research and Markets