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Pressure Sensitive Adhesives Market Projected to Reach $17.6 Billion by 2030 | In-Depth Analysis with Top Key Players
Acrylic based pressure sensitive adhesives (PSA) are thermoplastic in nature and can be formulated with acrylic monomers and polymers with low glass transition temperature. These pressure sensitive adhesives are versatile, low-cost, and offer enhanced performance characteristics making them suitable for label applications.
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However, fluctuation in cost of raw materials is anticipated to restrain the pressure sensitive adhesives market growth. The growth of pressure-sensitive adhesives market is restricted, owing to the escalation in price of raw materials required for their production. Furthermore, deficit in the supply of a key raw material for the production of water-based and other adhesives acts as a major challenge in the adhesives industry. The shortage of VAM in the market is attributed to the shutdown of few production plants in Europe, the U.S., and Asia-Pacific, due to plant failure, accidents, or for regular maintenance scheduled work.
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On the contrary, increase in demand for bio-based pressure sensitive adhesives is predicted to offer new opportunity in the forecast period. Growth in demand for sustainable solutions globally has created a need for bio-based pressure sensitive adhesives. A bio-based pressure sensitive adhesive is made by combining a commercially available acrylate with bio-based monomer chain. Around 60% of the materials utilized in production of this product are bio-based and these adhesives do not lack in performance as compared to traditional products.
Key Benefits For Stakeholders:
► Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
► It outlines the current pressure sensitive adhesives market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
► The major countries in the region have been mapped according to their individual revenue contribution to the regional pressure sensitive adhesives market.
► The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
► The profiles of key players and their key strategic developments are enlisted in the report.
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Impact Of Covid-19 On The Global Pressure Sensitive Adhesivesmarket:
► The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe.
► The pressure sensitive adhesives market witnessed negative impact due to the wake of the COVID-19 pandemic. The major end-users of pressure sensitive adhesives include automotive, electronics, building & construction, consumer goods, and others. Pressure sensitive adhesives are used in numerous applications in the automotive industry, which include assemblies, fixing carpets to various vehicle interior substrates, brake shims, cable wrapping, foam & fiber bonding, fixing gaskets in multitude configurations, and others.
► However, due to negative impact on automotive industry there has been decline the demand of PSAs from automotive sector. Factors such as disruption in value chain analysis has impacted large scale manufacturers in automotive sector. For instance, major exporter of automotive parts from China has been hit due to travel ban across globe and temporary closure of manufacturing hubs which in turn has pivoted automotive manufacturers across Europe. In addition, automotive assembly plants across the U.S.
Key Market Players:
► The 3M Company
► Henkel Ag & Co
► KGAA
► The Dow Chemical Company
► Sika Group
► Exxonmobil Corporation
► Avery Dennison Corporation
► H.B. Fuller
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