PRESSURE SENSITIVE ADHESIVES (PSA) MARKET

 

Market Overview:

               During the forecast period, the market for pressure-sensitive adhesives is anticipated to grow at a CAGR of over 6%. The industry under study is being driven primarily by the expansion of affordable flexible packaging. On the other hand, strict environmental laws concerning VOC emissions are anticipated to impede the expansion of the market under consideration.
Due to expanding end-user industries such packaging, medicine, and transportation, the market's dominant segment—tapes—is anticipated to expand throughout the forecast period.
Future opportunities may arise from the use of pressure-sensitive adhesives made from biological materials.

Key Market Trends:

          Adhesives are essential for keeping product packaging secure until it is delivered to the customer.
Packaging operations need a dependable adhesive to fulfil the rising needs for increasingly complicated packaging as there is an increase in the number of new items and the proliferation of existing products.
Particularly, pressure-sensitive adhesives (PSAs) provide the packaging industry with the following benefits:
Rapid revisions: Costs are raised by reworking or repackaging. PSAs provide a quick solution to get products shelf-ready and compliant. Pressure-sensitive adhesives are less obvious than standard tape and safer than glue sticks. Pressure-sensitive adhesives don't need heat to be applied like glue sticks do.

  • With over 40% of the global demand, Asia-Pacific is the most promising market for pressure-sensitive adhesives, which is likely to dominate the market in the near future. This domination can be attributed to the growing demand for tapes and labels in the region.
  • China, India, Japan, and South Korea account for over 80% of the demand for pressure-sensitive adhesives. 
  • China is one of the major exporters of adhesive products (tapes, labels, etc.) and the factors concerning the majority of its customers are quality of the product, product range offered by the vendor, and reducing the dosage and wastage of adhesives. Owing to this reason, international players currently dominate the Chinese market for pressure-sensitive adhesives. The same factor encourages local producers to invest in R&D to acquire a major share of the national market.

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