Global Acrylic Pressure Sensitive Adhesives (PSA) Market - Segmented by Application, by End-User Industry, and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global acrylic pressure sensitive adhesives (PSA) market is expected to register a CAGR of around 7% during the forecast period, 2018 to 2023. Asia-Pacific accounted for the largest market in 2017, followed by North America and Europe. Asia-Pacific is also expected to register the fastest growth during the forecast period.
Bio-based PSAs to Provide Numerous Opportunities
Acrylic pressure sensitive adhesives are formulated from cross-linked acrylic polymers and are resistant to high heat and oxidation. Such acrylic-based PSAs exhibit lower initial tack and are less prone to develop sticky edges and maintain consistent level of removability. Bio-based pressure sensitive adhesives are showing a promising future if they can meet the requirements of customers without sacrificing the core strength of materials, even though prices can be pushed up a little bit. With the growing environmental regulations on VOC emission affecting the synthetic-based PSAs, the demand for bio-based PSAs is projected to increase during the forecast period, thus providing various opportunities of the major manufacturers to cater to the growing demand for bio-based PSAs.
Tapes – the Dominant Application
Tapes are used in day-to-day life for various purposes, ranging from packaging to attaching. PSA tape is typically made from plastic, paper, metal foil, or cloth. It does not need any heat or solvent for it to stick to the surface. Common examples of PSA are electrical tapes, duct tapes, masking tapes, surgical tapes, and box-sealing tapes, among others. Scotch tape is one of the most well-known PSA tapes. The different types of tapes used are commercial tapes, protective tapes, foam tapes, and specialty tapes. With the growing demand for these tapes from various end-user industries in developing economies, the consumption significantly increased, thereby driving the demand for acrylic PSAs. This trend is projected to continue during the forecast period with Asia-Pacific leading the consumption.
Asia-Pacific to Dominate the Market Growth
Asia-Pacific is the largest market for acrylic pressure sensitive adhesives (PSA), accounting for a major chunk of the global market. China is the leading consumer of acrylic PSAs in the region with the major demand coming from packaging, followed by the electronics, transportation industries. The packaging market in China is expected to grow during the forecast period, driven by the steady growth of the consumer goods market, including packaged food, beverages, home care, and beauty and personal care, supported by the rising household income. China is one of the biggest global manufacturers in the electronics industry, and is followed by South Korea and Japan. With the growing demand from various end-user industries, the market for acrylic PSAs is expected to increase during the forecast period.
Major Players: Henkel AG & Co. KGaA, 3M, Arkema Group (Bostik SA), H.B. Fuller Company, and Avery Dennison Corporation, amongst others.
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How bio-based PSAs will offer numerous opportunities to the market leaders
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Which application and end-user industry is expected to dominate the market
Which region is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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