Pressure Sensitive Adhesives Market Size, Share, Leading Players, Growth and Business Opportunities

Pressure sensitive adhesives refer to elastomer copolymers or elastomers that are slightly crosslinked and strongly bond with a substrate. These adhesives do not undergo a liquid-to-solid transition to hold substances together. This class of adhesives can be synthetic or solvent-free natural resins having a viscoelastic property named 'tack'. Tack refers to the rapid wetting of a substrate by a polymer to create an adhesive bond during brief contact with the substrate under light pressure. Major advantages of these adhesives are environmental durability and instant bonding.

One of the key growth drivers for the pressure sensitive adhesives market is the flourishing e-commerce sector. The prospering e-commerce industry, on account of the changing customer preferences and mounting purchasing power of people, is creating a huge requirement for packaging materials, especially paper board. This factor will, therefore, drive the market at a CAGR of 4.0% during the forecast period (2019–2024). The market revenue stood at $7,414.0 million in 2018 and it is projected to reach $9,351.8 million by 2024.

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At present, the pressure sensitive adhesives market is highly fragmented, with the presence of numerous players. Some of the leading players in the market include Henkel AG & Co. KGaA, The Dow Chemical Company, Mapei SPA, 3M Company, Ashland Inc., Arkema Group, Huntsman Corporation, Sika AG, Avery Dennison Corp., and H.B. Fuller Co. These companies account for the largest market share. Other players in the market include Exxon Mobil Corporation, Adhesives Research Inc., Franklin Adhesives & Polymers, BASF SE, Hitachi Chemical Company Ltd., TOYOCHEM CO. LTD., Pidilite Industries Ltd., Toagosei Co. Ltd., and Jowat SE.

Pressure sensitive adhesives manufactured by global and localized companies are used in packaging, construction, automotive, electrical and electronics, and healthcare and hygiene industries. These industries use adhesives derived from acrylate, silicon, and rubber for applications such as tapes, labels, graphics, and laminations. At present, such adhesives are mostly used for packaging purposes, owing to the expansion of the e-commerce sector. Adhesives are applied on cartons used for delivering products to the customers.

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According to P&S Intelligence, Asia-Pacific (APAC) held the largest share in the pressure sensitive adhesives market during the historical period (2014–2018), and it is expected to maintain this trend throughout the forecast period. This can be primarily attributed to the expanding construction, electronics, packaging, and automotive industries in the region. As China, Japan, and South Korea are the leading manufacturers of electronics in the world and India and China are two of the largest consumers of fast-moving consumer goods (FMCG) products, these countries create a significant demand for packaging materials such as pressure sensitive adhesives.

There, the booming e-commerce sector and surging number of mergers and acquisitions among pressure sensitive adhesive producers will augment the adoption and production of pressure sensitive adhesives in the foreseeable future.

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