Pressure Sensitive Adhesives (PSA) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Pressure Sensitive Adhesives (PSA) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The pressure-sensitive adhesives market is expected to register a CAGR of over 6% during the forecast period. Major factor driving the market studied is the increasing development of low-cost flexible packaging. On the flip side, stringent environmental regulations regarding VOC emissions are expected to hinder the growth of the market studied.

Key Highlights

• The tapes segment dominated the market, and it is expected to grow during the forecast period, owing to the growing end-user industries, such as packaging, medical, and transportation.
• The adoption of bio-based pressure sensitive adhesives is likely to act as an opportunity in the future.
• Asia-Pacific dominated the global market, with the largest consumption from countries, such as China and India.

Key Market TrendsPackaging Industry to Dominate the Market

• Adhesives play a crucial role in ensuring that the product packaging remains intact until it reaches the consumer.
• As there is an increase, in terms of several new products and product proliferation, packaging operations require a reliable adhesive, to meet the increasingly complex packaging demands.
• Pressure-sensitive adhesives (PSAs), specifically offer several advantages for the packaging industry:
• Quick reworks: Reworking, or repackaging increases costs. PSAs offer a timely way to make products compliant and shelf-ready. Pressure-sensitive adhesives are safer than glue sticks and more discrete than traditional tape. Unlike glue sticks, pressure-sensitive adhesives do not require heat during application. The absence of heat eliminates burns and increases safety among plant workers. Additionally, PSAs are less intrusive on packaging graphics, providing the required adhesion without sacrificing the brand image. Pressure-sensitive adhesives are less visible packaging solutions, which preserve the brand and maximize the impact.
• Instant bond: Application of pressure-sensitive adhesives is time-saving, as there is no need to wait until they cure. The moment they are applied, they compress the substrate, right at the moment when adhesion takes place. Instant bonding increases the processing speed, as well as improves production.
• Maintaining brand image: Brand image relies heavily on the appearance of the packaging. PSAs provide a bond that removes cleanly without damaging the packaging or leaving behind residue. Preserving brand image adds to your consumer appeal.
• Furthermore, in the last few years, the packaging industry has been experiencing a transition, where the manufacturing and industrial sector has been adapting to flexible packaging.
• The benefits, such as lightweight, easy handling, less space-consuming, longer shelf life, easy transit, damage resistance, and better printability, have made packaging popular.
• Such factors are likely to increase the demand for pressure-sensitive adhesives market over the forecast period.

Asia-Pacific Region is Expected to Dominate the Market

• With over 40% of the global demand, Asia-Pacific is the most promising market for pressure-sensitive adhesives, which is likely to dominate the market in the near future. This domination can be attributed to the growing demand for tapes and labels in the region.
• China, India, Japan, and South Korea account for over 80% of the demand for pressure-sensitive adhesives.
• China is one of the major exporters of adhesive products (tapes, labels, etc.) and the factors concerning the majority of its customers are quality of the product, product range offered by the vendor, and reducing the dosage and wastage of adhesives. Owing to this reason, international players currently dominate the Chinese market for pressure-sensitive adhesives. The same factor encourages local producers to invest in R&D to acquire a major share of the national market.
• The pressure-sensitive adhesives market in India is expected to grow at a higher rate and its usage has increased with the transparent and filmic labels, shrink-wrap labels for fast-moving consumer goods (FMCG) manufacturers, and flexible labels and multicolor wrap-around labels. The pressure-sensitive adhesives market is still in its early growth stage and it has a higher scope of growth in the coming future.
• The large market size, coupled with the huge growth of Asia-Pacific, is quite instrumental in the expansion of the pressure-sensitive adhesives market.

Competitive Landscape

The pressure-sensitive adhesives market is consolidated, and the top seven players account for almost 60% of the market. The major companies include 3M, Arkema, DuPont, HB Fuller, and Henkel AG & Co. KGaA, among others

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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