Increasing demand for pressure-sensitive adhesives from the emerging economies is one of the significant factors influencing the market growth.
New York City, United States – May 20, 2020 /MarketersMedia/ —
The global pressure sensitive adhesives (PSA) market is expected to reach USD 15.59 Billion by 2027, according to a new report by Reports and Data. Growing demand for pressure-sensitive adhesives from the packaging industry is a key factor driving the growth of the market. Proper packaging is essential to ascertain that delivered products reached its destination in the same condition when it was packed, and a suitable alternative to achieve the desired purpose is pressure-sensitive adhesives. Pressure-sensitive adhesives ensure that the packaging stays in place and allows for faster packaging of products as it does not require heat at the time of application, as well as it does not block any branding or logos on the packaging, thereby maintaining brand awareness. Besides, it is safer than glue sticks.
The COVID-19 pandemic is having a significant impact on the chemicals & materials industry. Demand for chemicals is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation.
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The companies operating in the market can be segmented on product types such as tapes, labels, films, and others. Key companies in the market comprise Ashland Inc., 3M Company, Dow Chemical Company, Arkema Group, Avery Dennison Corporation, Sika AG, Henkel AG & Company KGaA, H.B. Fuller, Scapa Group PLC, and Franklin Adhesives & Polymers, among others.
For the purpose of this report, Reports and Data have segmented the global pressure-sensitive adhesive (PSA) market on the basis of product type, composition, technology, industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Composition Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
• Ethylene Vinyl Acetate
Technology Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
• Radiation Cured
• Hot Melt
Industry Vertical Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
• Building & Construction
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Further key findings from the report suggest
• By product type, tapes contributed to the largest market share in 2019. These tapes relatively thin, flexible products with single or double-sided coating. PSA tapes offer various benefits, including bonding of dissimilar materials without mismatch concerns, the offering of noise reduction and vibration dampening, elimination of the need for a surface refinishing, and reduction of assembly time.
• By composition, acrylic held the largest market share in 2019. Adhesives produced with acrylic polymers normally have better durability and improved resistance to solvents and harsh conditions.
• By technology, solvent-based PSA is expected to grow at a rate of 3.4% in the forecast period. Solvent-based adhesive formulations normally provide the highest performance, but converters, coaters, and end-users are switching to other PSA technology owing to the possession of heavily regulated VOCs solvent-based PSA, along with a higher carbon footprint.
• By industry vertical, the healthcare industry is likely to grow at a rate of 4.0% in the forecast period. The pressure-sensitive adhesives are used in transdermal applications and provide ease in devising transdermal drug delivery systems via enhanced physical stability.
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
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To summarize, the global Pressure Sensitive Adhesive (PSA) market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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