Global Rubber-based Pressure Sensitive Adhesive Market - Segmented by Technology, Application, Resin, Mode of Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The market is expected to register a CAGR of approximately 7.15%, during 2018-2023 (the forecast period). The market is driven by a number of factors; the growing demand for lightweight and low-emission vehicles, increasing adoption of low-cost flexible packaging aids, however, and the market faces certain drawbacks, such as stringent environmental regulations regarding VOC emissions.
Lightweight Automobiles Driving the Market
The major driver for market is the increasing demand for lightweight vehicles. Lightweight vehicles require less maintenance and operation charges as they require less fuel consumption, and therefore, customers are more inclined toward lightweight automobiles. According to the US Department of Energy statistics, decreasing automobile weight by 10% can result in reduction of fuel consumption by 6%-8%.
Tapes are the Dominant Application
The global market has been segmented by technology, application, resin, and mode of application. By technology, water-based segment is expected to grow at a good rate during the forecast period, due to the government regulations regarding VOC’s, which are providing opportunities. By application, the tape segment is expected to grow at a good rate during the forecast period, due to the increasing usage of interior bonding and assembly applications, fabricating foam gaskets and seals, and duct tape. The market by resins, has been segmented into acrylics, silicones, elastomers, and others. The market has also been segmented by mode of application into permanent and removable.
Asia-Pacific Leads the Market
The market, based on the geographic area, is segmented into – Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. Asia-Pacific dominates the market with a share of more than 55% and is expected to grow during the forecast period. This demand is mainly from China, which dominates the market with a market share of 52%, and the demand is a result of rapid urbanization and industrialization in the country, which lends this region high potential for growth, during the forecast period.
November 2016: 3M introduced a new tape, which is designed with pressure sensitive rubber adhesive, and can be applied and adhered to common surfaces, such as vinyl, painted metal, stainless steel, plastic, and glass.
Major Players: 3M, Avery Dennison, Arkema Group (Bostik SA), Beardow & Adams (Adhesives) Ltd, H.B. Fuller, Jowat AG, Franklin International, SIKA AG, among the others.
Reason to Purchase this Report
Current and future global rubber-based pressure sensitive adhesive market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
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