Pressure Sensitive Adhesives Market Size & Share, by Composition (Acrylic, Ethylene Vinyl Acetate, Polyurethane, Rubber); Technology (Radiation Cured, Water & Solvent Based, Hot Melt); Application (Graphic, Labels, Tapes); End-user (Automotive, Construction, Electronic, Healthcare, Packaging) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4337
  • Published Date: Apr 12, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Pressure Sensitive Adhesives Market size is projected to cross USD 15 Billion by the end of 2033, growing at a CAGR of 8% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of pressure sensitive adhesives was over USD 10 Billion. The growth of the market can be attributed to the growing demand for adhesives worldwide for the packaging of food, pharmaceuticals, beverages, and other products which need extended shelf life. People nowadays are purchasing packaged food in escalated quantities that require advanced packaging. For instance, in 2020, the demand for adhesives across the globe was estimated at 15 million tonnes. Furthermore, pressure-sensitive adhesives are experiencing rapid market expansion backed by the rising consumer demand for lightweight, low-emission vehicles. In the automotive industry, polymer-based hot adhesives are mostly utilized for panel laminating. The demand for such adhesives in the automobile industry is expected to grow as individuals become more cognizant of the improved fuel economy and reduced pollution of lightweight vehicles. The global market for pressure-sensitive adhesives is therefore anticipated to increase as a result of the rising demand for fuel-efficient vehicles.

Global pressure-sensitive adhesives market trends such as higher utilization of pressure-sensitive adhesives in plastic production and significant need for pressure-sensitive adhesives in the paper & coating industry are projected to influence the growth of the market positively over the forecast period. It is observed that around 250 million tons of paper are produced annually across the globe. Pressure-sensitive adhesives are made of cloth, plastic, metal, paper, and others. These adhesives are generally used to manufacture labels and tapes. Multiple industries such as food, packaging, automotive, electronics, and others have a higher demand for these adhesives. Hence, such as higher demand for pressure-sensitive adhesives in multiple industries is anticipated to hike the growth of the market over the forecast period.


Pressure Sensitive Adhesives Market
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Pressure Sensitive Adhesives Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Production of Pigment Globally to Boost Market Growth - As of 2021, pigment production was estimated to be around 14 thousand metric tons in India while it was projected to be about 100 thousand metric tons in South Korea. Pressure-sensitive adhesives are used to make pigment owing to their specific properties such as waterproofing, sealing agents, and corrosion & oxidation prevention. Significant demand for pigment has emerged in the market as a result of increasing urbanization and a growing interest in interior design. Pigments are colored material and are considered to be inorganic compound and it is insoluble in water. A wide range of applications requires pigments such as cosmetics, coloring paint, fabric, ink, plastic, and others.

  • Escalating Utilization of Pressure Sensitive Adhesives in Manufacturing of Cosmetics- The cosmetics industry was estimated to generate a revenue of about USD 5 billion in 2022 globally. Pressure-sensitive adhesives are used to pack cosmetics products as it is pressure-sensitive which can prevent moisture to penetrate and damage the product quality. 

  • Significant Requirement Pressure Sensitive Adhesives in Making Medicine- The total spending on medicine in the United States was estimated to reach around USD 500 billion in 2021.

Challenges

  • Unpredictability in Raw Material Prices - Manufacturing pressure-sensitive adhesives require petrochemicals that are derived from crude oil. A constant fluctuation in the prices of petrochemicals and crude is estimated to hamper the market growth over the forecast period. Various Geopolitical and weather-related factors are a major reason to cause this fluctuation in price
  • Presence of Alternative Products Such as Mechanical Fasteners 
  • Requirement for Higher Initial Funding

Pressure Sensitive Adhesives Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~8%

Base Year Market Size (2022)

~ USD 10 Billion

Forecast Year Market Size (2033)

~ USD 15 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Pressure Sensitive Adhesives Segmentation

Application (Graphic, Labels, Tapes)

The global pressure-sensitive adhesives market is segmented and analyzed for demand and supply by application into graphics, labels, tapes, and others. Out of these applications, the tapes segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the rising sales of tapes in the packaging industry for keeping the packaging in place until it reaches its required location. Adhesive tapes are used to bond objects together by eliminating the use of welding, fasteners, screws, and others. Tapes come in multiple forms such as electrical, masking, packing, flooring, painting, and duct tape. Adhesive tapes are required in a wide array of industries such as paper & printing, building & construction, retail, consumer & office, electrical & electronics, automotive, white goods, and others. The growth of these industries is projected to be interlinked with the growth of the tapes segment owing to its higher demand. For instance, the total worth of the consumer electronic segment was estimated to reach approximately USD 1000 billion by 2027 across the globe.

End-user (Automotive, Construction, Electronic, Healthcare, Packaging)

The global pressure-sensitive adhesives market is also segmented and analyzed for demand and supply by the end-user industry into automotive, construction, electronic, healthcare, packaging, and others. Out of these sub-segments, the packaging segment is expected to garner a significant share among these segments over the forecast period. higher utilization of pressure-sensitive adhesives in medical packaging, flexible packaging, and others is expected to propel the market growth over the forecast period. The proper packaging of the medical product is necessary since it is responsible to preserve the medicine throughout its lifecycle. Pressure-sensitive adhesives are used in medical packaging to prevent moisture and oxidation of the packaged medical product. For instance, in 2020, approximately 5 trillion doses of medicines were consumed across the globe with a notable increase of 25% from 2015. Additionally, owing to multiple benefits such as charming designs, recyclable, low-cost, and others, flexible packaging is also becoming very popular among

Our in-depth analysis of the global market includes the following segments:

         By Composition

  • Acrylic
  • Ethylene Vinyl Acetate
  • Polyurethane
  • Rubber
  • Others

 

         By Technology

  • Radiation Cured
  • Water & Solvent Based
  • Hot Melt
  • Others

 

          By Application

  • Graphic
  • Labels
  • Tapes
  • Others

 

 

 

          By End-User Industry

  • Automotive
  • Construction
  • Electronic
  • Healthcare
  • Packaging
  • Others

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Pressure Sensitive Adhesives Industry - Regional Synopsis

APAC Market Statistics

The Asia Pacific pressure-sensitive adhesives market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to an up-surged demand for pressure-sensitive adhesives in the oil & gas industry for varied processes in procuring oil and gas products. For instance, the countries in Southern Asia are anticipated to launch nearly 50 oil and gas projects by the year 2025. Furthermore, the total oil production in the region was estimated to be about 7000 thousand barrels a day in 2021. Moreover, increasing utilization of these adhesives in textiles, and pharmaceuticals along with a higher adoption rate in the packaging industry including medical, personal care, food & beverage, and other types of packaging is also expected to hike the market growth over the forecast period. For instance, the sales volume of ready-to-eat packaged meals in the Asia Pacific region is estimated to hit approximately USD 400 billion by 2027. Therefore, such factors are anticipated to enlarge the market size in the region over the forecast period.

North American Market Forecast

Additionally, the market in the North American region is also projected to grow rapidly over the forecast period on the back of higher production and distribution of cosmetic products. In North America, a robust inclination toward the utilization of cosmetic products has been observed which is set to grow exponentially. Hence, for better distribution of products and to preserve their chemical and compounds, advanced packaging is necessary. For instance, it is observed that every year, approximately USD 50 billion are obtained from cosmetic product sales solely in the USA. Additionally, the average amount of money spent on cosmetics every month by Americans is estimated to be around 200 U.S. dollars to 300 U.S. dollars per month. Hence, such a higher utilization of pressure-sensitive adessives in the packaging of a wide range of products across several industries is estimated to hike the market growth over the forecast period.

Research Nester
Pressure Sensitive Adhesives Market Size
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Companies Dominating the Pressure Sensitive Adhesives Landscape

top-features-companies
    • Henkel AG & Co. KGaA
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • The Dow Chemical Company
    • Avery Dennison Corporation
    • Ashland Inc.
    • H.B. FULLER COMPANY
    • Sika India Private Limited
    • Arkema Group
    • Wacker Chemie AG
    • ExxonMobil Corporation
    • 3M Company

In the News

  • Henkel AG & Co. KGaA is going to merge Laundry & Home Care and Beauty Care in its portfolio. The company is determined to create a multi-category platform by continuing the optimization of consumer portfolios. 

  • The Dow Chemical Company assists automotive OEMs to understand the utilization of silicon. The company has also prepared a skillset to identify innovation opportunities.

Author Credits:  Rajrani Baghel


  • Report ID: 4337
  • Published Date: Apr 12, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing production of pigment and escalating utilization of pressure-sensitive adhesives in the manufacturing cosmetics industry are the major factors driving the market growth.

The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023-2033.

Unpredictability in raw material prices and the presence of alternative products such as, mechanical fasteners are estimated to be the growth-hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are The Dow Chemical Company, Avery Dennison Corporation, Ashland Inc., H.B. FULLER COMPANY, Sika India Private Limited, Arkema Group, Wacker Chemie AG, ExxonMobil Corporation, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

The market is segmented by composition, technology, application, end-user industry, and by region.

The tapes segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Pressure Sensitive Adhesives Market Report Scope
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