Increasing applicability of PSAs in tapes and labels is additional factors propelling the demand for Pressure Sensitive Adhesives Market
The pressure sensitive adhesives (PSA) market was valued at USD 7.87 billion in 2015 and is projected to reach USD 11.22 billion by 2021, at a CAGR of 6.1% between 2016 and 2021.
The increasing demand for PSAs from varied end-use industries, such as packaging, automotive & transportation, and electronics, electrical & telecommunication is driving the growth of the PSA market. Increasing applicability of PSAs in tapes and labels and the ability of PSAs to dampen vibration and inhibit corrosion are additional factors propelling the demand for PSAs among varied end-use industries.
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Growth in this market is mainly attributed to the increasing demand for PSAs from varied end-use industries such as packaging, automotive & transportation, and electronics, electrical and telecommunication.
Properties such as high tack and resistance to peel & sheer are responsible for the extensive use of PSA labels. PSA tapes are also widely used across varied end-use industries, owing to their ability to dampen vibrations and inhibit corrosion as well as provide superior bonding and enhance aesthetical properties of products.
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The EVA segment of the PSA market is projected to grow at the highest CAGR between 2016 and 2021, in terms of volume, owing to the increasing applicability of PSAs in the packaging end-use industry.
Moreover, in terms of value, the silicone segment is anticipated to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increasing consumption of silicone-based PSAs in aerospace and automotive end-use industries.
The hot melt segment is the fastest-growing technology segment of the PSA market, in terms of volume, owing to the increasing applicability of hot melt PSAs in packaging and electronics, electrical & telecommunication end-use industries.
The labels segment is the fastest-growing application segment of the PSA market, in terms of volume and value. This is due to increasing usage of labels in the packaging, medical & healthcare, and automotive & transportation end-use industries.
Electronics, electrical & telecommunication is the fastest-growing end-use industry, in terms of volume and value. This is due to the increasing applicability of PSAs in integrated circuits, electronic components, and insulating tapes.
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The report analyzes the key growth strategies adopted by market players between 2011 and 2016. Henkel AG & Co. KGaA (Germany), 3M Company (U.S.), The Dow Chemical Company (U.S.), Avery Dennison (U.S.), Ashland Inc. (U.S.), and H.B. Fuller (U.S.) are leading players in the PSA market.
Henkel AG & Co. KGaA is one of the leading players in the PSA market. The company, being a key manufacturer of PSAs, aims to strengthen its market position and enhance its customer base.
As a part of its business strategy, Henkel AG & Co. KGaA focuses on R&D activities to develop high quality products by employing the latest state-of-art technology and continuously improving the efficiency of its operations.
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