Pressure Sensitive Adhesives Market to grow at 5% CAGR over 2018-2024: 3M, H.B. Fuller, Wacker Chemie, LG Chem, Avery Dennison, Henkel, Sika, Momentive, Evonik, Mapei, Ashland, Bostik, BASF

Unveiling North America pressure sensitive adhesives market trends

North America has emerged as one of the most reliable and lucrative growth grounds for the overall pressure sensitive adhesives market. One of the pivotal reasons responsible for the growth of the regional industry is the expansion of the packaging sector in the continent, specifically across the United States.

As per statistics provided by the Flexible Packaging Association, the U.S. recorded sales worth over USD 30 billion for the flexible packaging industry in the year 2014. Indeed, flexible packaging had then been touted to be the second largest packaging segment in the United States, with a registered share of 19% of the U.S. packaging market, that had been proclaimed by analysts to have been valued at somewhere over USD 162 billion back then.

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Driven by the robust deployment of these adhesives in the packaging sector, in addition to the availability of myriad technology types and products, North America pressure sensitive adhesives market size is all set to surpass USD 2 billion by 2024.

Pressure Sensitive Adhesives Market was estimated over USD 6 billion in 2017 and will likely surpass USD 9.5 billion by 2024 and the industry will grow by a CAGR of close to 5% up to 2024 ; according to a new research report by Global Market Insights.

Growth drivers

1. Growth in the packaging industry
2. Increasing use of tapes and labels in automotive & transportation sector
3. Ease of application creating a wide acceptance
4. Advancement in PSA tape technologies

Touted as one of the most remarkable value additions to the current product spectrum encompassing the pressure sensitive adhesives market the latest water-based acrylic adhesive developed by Dow Adhesives, the material science division of the leading pressure sensitive adhesives industry giant DowDuPont Inc, is deemed to generate a substantial momentum in the overall business landscape.

An innate vertical of the polymers space, pressure sensitive adhesives market has lately established itself as quite a lucrative business space in the overall adhesives domain. Undeniably, this growth can be credited to the fact that this product is one of the most recognized adhesive due to its ability to generate an instant bond under light pressure without the requirement of any activation provided by solvents, heat, or water.

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Technological developments have provided a major impetus to pressure sensitive adhesives market. For instance, since the automotive industry requires adhesives that can resist extreme heat, pivotal pressure sensitive adhesives industry firms have conducted numerous R&D programs to come up with a new, unique product. This adhesive is a high temperature resistant acrylic pressure sensitive adhesive that can withstand temperature of up to 400°F as compared to other acrylic pressure sensitive adhesives that can withstand temperatures of only up to 325°F.

Many such research and development programs are still on the radar, that will help manufacture adhesives that are more suited to different applications. Eventually, this would provide a major boost to the overall pressure sensitive adhesives market, the size of which is likely to surpass USD 9.5 billion by 2024.

By Technology
• Water-based
• Solvent-based
• Hot melt
• UV-cured

Product by Application
• Rubber-based
• Acrylic
• Silicone

By Application
• Tapes
• Labels
• Graphics
• Films & Laminates
• Others

By End-user
• Food & Beverage
• Packaging
• Electronics & Laminates
• Medical & Healthcare
• Building & Construction
• Automotive & Transportation
• Others

Silicone is an important product type of the pressure sensitive adhesives market which can withstand extreme temperatures and has chemical resistance. This relatively expensive product is frequently applied to products like glass cloth and aluminum foils so that they are appropriate for extreme temperature applications.

Graphics is an important application section of the pressure sensitive adhesives industry which is expected to develop at a rate of approximately 4.5% during the study period. Graphics consists of signage, vehicle wraps, logos & emblems, carpets & mats, floors etc.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. BASF
2. Avery Dennison
3. 3M
4. H.B. Fuller
5. Henkel
6. Sika
7. DowDuPont
8. Momentive
9. Wacker Chemie
10. LG Chem
11. Evonik
12. Mapei
13. Ashland
14. Bostik

Food & beverage industry is a significant end-user section of the market which is expected to propel at a compound annual growth rate of approximately 5% in the study period. The reason behind the prominence of PSA in food & beverage sector is that certain has adhesives have gained FDA approval to be used as food contact applications like labels and tapes on the food items.

Browse key industry insights from the report, “Pressure Sensitive Adhesives Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/pressure-sensitive-adhesives-market

Hot-melt PSA portray environment friendly and fast setting features. These are 100% solid adhesives which are applied in molten state in room temperature to achieve flow and wetting.

This technology is widely used in industries including textile lamination, book-binding, construction, woodworking, automotive, electronics, shoemaking, product assembly, packaging, hygiene etc. This technology section of the pressure sensitive adhesives market is likely to propel at a compound annual growth rate approximately 5.4% in the study period.

Some of the key product manufacturing companies of the market include Bostik, Dow Dupont , Evonik Industries, Avery Dennison, Henkel, Arkema, Sika, HB Fuller etc. Large number of small and medium scale local manufacturers are also part of the market.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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