14th Jan 2021 - The global Pressure Sensitive Adhesives Market was valued at USD 8.81 billion in 2015. The market is driven by the increasing consumption of the product in construction, consumer goods, automotive, and packaging industries. The rising requirements for reducing weight in products providing high bonding solutions is expected to drive market growth.
The increasing use of low-cost engineering and lightweight plastics in numerous end-use applications such as electronics, construction, and automotive is expected to have a positive impact on the PSA market demand. The low plastic materials are evolving as substitutes for wood assembly, construction material, glass, and heavy materials.
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The demand for PSA in the automotive sector is increasing owing to the pressure for reduction in emission from regulatory bodies coupled with increased mileage performance is likely to propel market growth. The rising acceptance of RFID labels (wireless tags) in end-use applications including medical, packaging, architecture, and automotive on account of their contribution in managing inventory is likely to aid PSA market growth.
The regulations regarding reducing carbon & Green House Gases (GHG) emissions by improving fuel efficiency has attracted the OEM automotive towards plastics as substitutes for metals including steel and aluminium, thereby aiding PSA market growth.
Pressure Sensitive Adhesives Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
Pressure Sensitive Adhesives Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
- Graphic Films
Pressure Sensitive Adhesives End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
- Automotive & Transportation
- Electrical & Electronics
- Consumer Goods
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The global PSA market is fragmented with the presence of various large and small scale companies. The major companies are 3M, Bostik, Avery Dennison, H.B. Fuller, Dow Chemicals, Sika, Henkel, and Ashland. The other players include Drytac, Collano Adhesives, Franklin Adhesives & Polymers, Novamelt, Scapa, and Jesons Industries.
The major companies in the market focus on developing their existing product portfolio together with the development of new, competitive, and innovative products. Ashland launched Arocure UV-curable PSAs based on hot-melt technology for application in specialty tapes. The widely used product strategy implemented by most of the companies is product innovation.
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