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CHEMICALS AND ADVANCED MATERIALS

Pressure Sensitive Adhesives Market Analysis by Composition (Acrylic, Ethylene Vinyl Acetate, Polyurethane, Rubber, and Others); by Technology (Radiation Cured, Water & Solvent Based, Hot Melt, and Others); by Application (Graphic, Labels, Tapes, and Others); and by End-User Industry (Automotive, Construction, Electronic, Healthcare, Packaging, and Others)– Global Supply & Demand Analysis & Opportunity Outlook 2022-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • January 28, 2022: Henkel AG & Co. KGaA to merge its path with Laundry & Home Care and Beauty Care. both the company together are determined to create a multi-category platform with the expectation of about 10 billion sales. 

  • September 6, 2022: The Dow Chemical Company to acquire two awards for its MaizeCare Clarity Polymer, a bio-based polymer. The award received by company for its product are 2022 R&D 100 Awards and the title, BIG Sustainability Product of the Year by the Business Intelligence Group. 

Global Pressure Sensitive Adhesives Market Size, Forecast, and Trend Highlights Over 2022 - 2033

Pressure Sensitive Adhesives Market Size & Forecast Chart

The global pressure sensitive adhesives market is estimated to garner robust revenue by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated impressive revenue in the year 2023. The growth of the market can primarily be attributed to the growing demand for adhesives worldwide. For instance, in 2020, the demand for adhesives across the globe was estimated at about 15 million tonnes.

Pressure Sensitive Adhesives Market Overview Chart

Global pressure sensitive adhesives market trends such as, higher utilization in plastic production and significant need 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 has a higher demand for these Adhesives. Hence, all these factors are anticipated to hike the growth of the market over the forecast period.

Global Pressure Sensitive Adhesives Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Production Pigment Globally to Boost the Market GrowthAs of 2021, the 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, corrosion & oxidation prevention. A noteworthy demand for pigment has emerged in the market on the back of rising urbanization and growing inclination toward interior designing.
  • Escalating Utilization in Manufacturing of Cosmetics- The cosmetics segment was estimated to generate a revenue of about USD 5 billion in 2022.
  • Significant Requirement in Making of Medicine- The total spending on medicine in the United States was estimated to drop to around USD 500 billion in 2021.
  • Spiking Production of Iron & Steel- In 2020, the production of crude steel worldwide was expected to be approximately 1.5 billion metric tons.

Challenges

  • Government Initiatives toward the Export and Import of the Material
  • Limited Sources of Pressure Sensitive Adhesives
  • Requirement for Higher Initial Investment

The global pressure sensitive adhesives market is segmented and analyzed for demand and supply by application into graphic, labels, tapes, and others, out of which, the tapes segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising sales of tapes. For instance, the highest sales in the tapes segment were estimated to be around USD 200 million in 2020.

Major Macro-Economic Indicators Impacting the Market Growth

Pressure Sensitive Adhesives Market Growth Chart

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Pressure Sensitive Adhesives Market Regional Synopsis

Regionally, the global pressure sensitive adhesives market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033. The growth of the market is attributed to the an up-surged demand for pressure sensitive adhesives in the oil & gas industry. 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 is estimated to be about 7000 thousand barrels a day in 2021. Moreover, increasing utilization of these adhesives in textiles, and pharmaceuticals is also expected to hike the market growth over the forecast period. 

Pressure Sensitive Adhesives Market Share Chart

The global pressure sensitive adhesives market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global pressure sensitive adhesives 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

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

Top Featured Companies Dominating the Global Pressure Sensitive Adhesives Market

  • 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 Pvt. Ltd.
  • Arkema Group
  • H.B. Fuller Company
  • Wacker Chemie AG
  • Exxon Mobil Corporation

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