Pressure Sensitive Adhesives Market
Pressure Sensitive Adhesives Market Analysis By Resin Type (Acrylic, Rubber, and Others), By Backing Material (Polypropylene, Paper, Polyvinyl Chloride, and Others), By Application (Tapes, Labels, Hygiene Adhesives, Graphic Films, Medical Adhesives, Others) - Global Market Insights 2023 to 2033
Analysis of Pressure Sensitive Adhesives Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Pressure-Sensitive Adhesives Market Outlook (2023-2033)
The global pressure-sensitive adhesives (PSA) market is estimated to be valued at US$ 60.2 billion in 2023 and it is anticipated to grow at a CAGR of 5.8% to reach US$ 105.7 billion by the end of 2033.
The pressure-sensitive adhesives, which are non-reactive self-adhesives, when applied pressure bond with the various substrates. Due to its high viscosity, it attracts and holds onto wet surfaces when it comes into contact.
The pressure-sensitive adhesive's ability to bind solely relies on its polar attraction to a substrate's surface. The adhesive can be activated without the use of heat, solvent, or water. The packaging, consumer electronics, automotive, and construction industries all use it extensively.
Estimated Market Value (2023E)
US$ 60.2 Billion
Forecasted Market Value (2033F)
US$ 105.7 Billion
Global Market Growth Rate (2023-2033)
North America Market Share (2023)
East Asia Market Growth Rate (2023-2033)
Europe Market Growth Rate (2023-2033)
Key Companies Profiled
Know thy Competitors
Competitive landscape highlights only certain players
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Historic and Future Path for Pressure-Sensitive Adhesives Market
With the growing demand for electronic devices in response to their miniaturization the pressure-sensitive adhesives market is expanding dramatically. Additionally, the primary driver of the market's growth is the increasing demand for lightweight vehicles, which leads to an increase in automotive production.
Additionally, it is estimated that the market will experience growth in forthcoming years due to the expanding use of sensitive adhesives in tapes and labels as well as their widespread acceptance due to their ease of adaptability.
- Short Term (2023-2026): Growing demand for flexible packaging from various end-use industries is likely to drive the PSA market during the short term.
- Medium Term (2026-2029): Rising e-commerce industry across developed as well as developing countries to create a positive environment for the growth of pressure-sensitive adhesives.
- Long Term (2029-2033): Product innovation coupled with business expansion across untapped markets to meet the end-user’s requirement is likely to drive the PSA market growth in the long run.
Market Dynamics Overview
“Growing Packaging Industry to Supplement PSA Market Growth”
The growing packaging industry creates high opportunities for the PSA market. Packaging is the process of creating a package for a consumer good. Packaging enables end-users to differentiate their brands and makes it effortless for consumers to identify their products.
Growing consumer demand for packaged goods as a result of changing dietary preferences and altering lifestyles may have a critical impact on the packaging market. Further, owing to their high barrier properties, shelf lives, and consumer safety, products will be in greater demand as the population and per capita income rise.
Hence, due to such factors, the packaging industry is anticipated to grow at a prominent growth rate, and mushrooming packaging industry paves the way for the PSA market growth over the forecast period.
“Government Strict Rules to Hamper Market Growth”
A class of chemicals known as volatile organic compounds (VOCs) is capable of vaporizing into the atmosphere. In some PSA materials VOCs are present which are harmful to health as they cause nose, and throat irritation, eye, headaches, nausea, and loss of coordination. They can also cause damage to the kidneys, central nervous system, and liver. Among VOCs, some are inferred or verified as carcinogens.
Hence, to prevent harm to the ozone layer and check health hazards due to VOCs governments across both developed as well as developing economies imposed rules and regulations over the use of materials containing or emitting VOCs. On the back of the aforementioned facts, the PSA market is estimated to witness certain challenges during the forecast period.
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What are the Factors Driving PSA Demand in the US?
The US pressure-sensitive adhesives market has grown at a CAGR of 4.6% in the historical period from 2018-2022 and is anticipated to grow at a CAGR of 5.9% in the forecast period.
Over 1/4th of the pressure-sensitive adhesives are generated in the US itself. Low-flexible packaging is the prime factor for the growth of the pressure-sensitive market growth in the US. Increasing adoption of bio-based pressure-sensitive adhesives is anticipated to generate substantial development potential.
Furthermore, the packaging industry in the US has seen a transformation in recent years, with the manufacturing and industrial sector adopting flexible packaging solutions. As a result of the aforementioned factors, pressure-sensitive adhesives are anticipated to create significant opportunities for manufacturers in the US.
What Role does China Play in the Expansion of the Pressure-Sensitive Adhesive market?
China is one of the most promising markets for pressure-sensitive adhesives. It accounts for over 60.0% of the market in the East Asia region and is expected to continue its dominance during the forecast period.
Asian countries such as China, South Korea, Japan, and India account for over 80.0% of the sales for the pressure-sensitive adhesive market. China is a global leader in supplying adhesive goods such as tapes & labels.
It is projected that china will lead the market in the forecast period and will grow at a CAGR of 6.2% and increases the sales of the product.
Why are Acrylic Pressure-Sensitive Adhesives Widely Preferred?
The increasing demand for lightweight and low-emission material in the automobile industry, along with the increasing usage of low-cost flexible packaging solutions is majorly increasing the demand for pressure-sensitive adhesives.
Acrylic pressure-sensitive adhesives are polar such that they can tend easily latch onto the substrate such as glass, metal, neoprene, polycarbonate, and polyester among others. This enhanced adhesion property is what increases acrylic pressure-sensitive adhesive popularity.
Acrylic pressure-sensitive adhesives leathers are anticipated to grow at a CAGR of 5.9% in the forecast period.
Will Polypropylene-based Adhesives Gain Momentum?
Polypropylene tapes are most commonly available in clear or buff colors and are also available in a variety of colors with high-capacity rolls used in case taper systems. These factors are likely to drive the polypropylene-based pressure-sensitive adhesive market.
The polypropylene-based pressure-sensitive backing type has grown at a CAGR of 4.4% in the historical period between 2018-2022 and is anticipated to grow at a CAGR of 5.6% in the forecast period.
Market Titans Key Strategies
Prominent pressure-sensitive adhesives market players are 3M Company, Tesa SE, Nitto Denko Corporation, LINTEC Corporation, BASF SE, Lohmann GmbH & Co. KG, and Exxon Mobile Corporation.
Leading pressure-sensitive adhesive manufacturing companies in the market are focusing on sustainable partnerships, collaboration, and strategic mergers & acquisitions with regional players, which is likely to assist in increasing production capacity and their global presence as well.
Market players are looking for innovative products in the pressure-sensitive adhesive market. For instance, 3M company offers 3MTM pressure-sensitive spray adhesives 72-a industrial grade spray adhesives, that offer aggressive hold that bonds plastic carpet backing, foam paddling, and others.
Fact.MR has provided detailed information about the price points of key manufacturers of pressure-sensitive adhesives positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Pressure-Sensitive Adhesive Industry Research
By Resin Type :
By Backing Material :
- Polyvinyl Chloride-based
By Application :
- Hygiene Adhesives
- Graphic Films
- Medical Adhesives
- Other Applications
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- FAQs -
The global pressure-sensitive adhesives market is anticipated to be valued at US$ 60.2 billion in 2023.
During 2023-2033, sales of pressure-sensitive adhesives increased at 5.8% CAGR.
The Europe market is anticipated to grow at a CAGR of 5.1% between 2023-2033.
China is anticipated to grow at the highest CAGR of 6.2% in the forecast period.
3M Company, Tesa SE, Nitto Denko Corporation, BASF SE, Exxon Mobil Corporation are some of the leading companies in the pressure-sensitive adhesives market.