|11-12-2018 11:33 AM CET - Industry, Real Estate & Construction||
Global Pressure Sensitive Adhesives Market Estimated to Soar Higher During 2017 to 2026| 3M Company, Tesa SE, Nitto Denko Corporation, LINTEC Corporation, BASF SE, Lohmann GmbH & Co. KG, Exxon Mobil Corporation
Press release from: Fact.MR
A key determinant for driving demand for pressure sensitive adhesives is growing requirement for weight reduction in products that offer high bonding solutions. A prevailing trend in the Pressure Sensitive Adhesives Market is use of lightweight and cost-effective engineering plastics across diverse end-use industries including electronics, construction and automotive.
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Pressure sensitive adhesive market has been touted to observe significant growth in account of robust demand from packaging and labelling industries. Growing adoption of RFID labels on the back of their role in making improvements in inventory management has been anticipated to impact demand for pressure sensitive labels positively. This is mainly because RFID labels are wireless non-contact tags that seek widespread application in a variety of end-use industries including medical, packaging, architecture and automotive. Mounting pressure from regulatory authorities regarding enhanced mileage performance and emission reduction in vehicles has proliferated adoption of pressure sensitive adhesives in automotive applications. With growing capability of the pressure sensitive adhesives in labelling and automotive applications, factors such as stringent energy efficiency laws, growing health concerns, and increasing environmental concerns about GHG emissions will influence the market expansion.
According to Fact.MR, a steady 5.6% CAGR will be exhibited by the global pressure sensitive adhesives market between the years 2017 and 2026, in terms of value. More than 64,000 Mn sq. m of pressure sensitive adhesives are pegged to be sold across the globe by 2026-end.
APEJ to Ride on Highest CAGR in Global Pressure Sensitive Adhesives Market through 2026
In terms of value, Asia-Pacific excluding Japan (APEJ) will ride on the highest CAGR in the global pressure sensitive adhesives market through 2026. This growth is mainly attributed to robust demand for pressure sensitive adhesives in numerous end-use industries such as leather, automotive, furniture, packaging, and construction in APEJ. Manufacturers in countries such as China and India in the region are making huge investments in technical research and development for extending their market reach globally. In addition, surging government assistance in these developments will further augment growth of the market in APEJ.
North America and Europe are also expected to remain lucrative regions for growth of the pressure sensitive adhesives market, mainly driven by stringent regulations apropos to VOC emission, coupled with the fuel efficiency norms. The regulatory agencies such as REACH and the U.S. EPA have implemented strict rules for the chemical industries to comply in order to improve sustainability, thereby creating demand for pressure sensitive adhesives that comply with these norms.
Pressure sensitive adhesive tapes find extensive utilization in the automotive, construction & building, and medical industries. These tapes are used mostly for HVAC pipe mounting & wrapping, splicing, casketing, sealing, and masking purposes. Tapes are expected to prevail as the dominant application of pressure sensitive adhesives, in terms of value. Labels will also endure as a lucrative application of pressure sensitive adhesives, as they seek widespread application in security, transportation, health & beauty, and food & beverage industries.
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Key Research Findings from Fact.MR’s Report
Polypropylene will remain preferred backing material for pressure sensitive adhesives
Acrylic is anticipated to be the most lucrative resin type in the market, with sales poised to account for revenues over US$ 40,000 Mn by 2026-end
Fact.MR’s report has listed key participants actively contributing to the market growth, which include 3M Company, Tesa SE, Nitto Denko Corporation, LINTEC Corporation, BASF SE, Lohmann GmbH & Co. KG, Exxon Mobil Corporation, and Scapa Group PLC.
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