A new Fact.MR research report has slated the global market for pressure sensitive adhesives to record a steady 4.9% CAGR, in terms of volume, over the forecast period (2017-2026). Pressure sensitive adhesives sales across the globe are estimated to exceed US$ 71,000 Mn in revenues by 2026-end.
A key determinant for driving demand for pressure sensitive adhesives is growing requirement for weight reduction in products that offer high bonding solutions. A prevailing trend in the pressure sensitive adhesives market is use of lightweight and cost-effective engineering plastics across diverse end-use industries including electronics, construction and automotive.
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Well-established vendors in the pressure sensitive adhesives market are focusing on extending their market presence across several regional locations across the globe. These vendors are also focusing on enhancing their product portfolios for meeting rising end-user demands. Few vendors in the global pressure sensitive adhesives market are making enormous investments in research & development activities in a bid to sustain in the constantly changing landscape of the market. Leading manufacturers are entering into collaborations for producing low-cost, versatile, and eco-friendly products, meanwhile adhering to government norms for staying competitive in the market.
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In terms of value, Asia-Pacific excluding Japan (APEJ) will ride on the highest CAGR in the global pressure sensitive adhesives market through 2026. This growth is mainly attributed to robust demand for pressure sensitive adhesives in numerous end-use industries such as leather, automotive, furniture, packaging, and construction in APEJ. Manufacturers in countries such as China and India in the region are making huge investments in technical research and development for extending their market reach globally. In addition, surging government assistance in these developments will further augment growth of the market in APEJ.
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Based on backing material, sales of polypropylene will remain considerably larger than those of paper, polyvinyl chloride, and other backing materials combined. Polypropylene sales are projected to hold over three-fifth volume share of the market by 2026-end.
Tapes are expected to remain the largest application of pressure sensitive adhesives, trailed by labels. Sales of pressure sensitive adhesives in these two applications are collectively projected to hold over four-fifth share of the market by 2026-end. Pressure sensitive adhesives will register the fastest sales expansion in medical and graphic films applications through 2026.
Fact.MR’s report has listed key participants actively contributing to the market growth, which include 3M Company, Tesa SE, Nitto Denko Corporation, LINTEC Corporation, BASF SE, Lohmann GmbH & Co. KG, Exxon Mobil Corporation, and Scapa Group PLC.
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