The global pressure-sensitive adhesives market size is expected to reach U.S. $16.71 billion by 2030, as per a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.3% from 2023 to 2030. The market is anticipated to be driven by the significant demand for pressure-sensitive tapes and labels from the packaging industry, as well as use in the automotive industry.

However, increasing prices of raw materials is the significant factor affecting the manufacturers, which may hinder market growth. The primary raw materials used in the manufacturing of PSAs include acrylic polymers, rubber based polymers, silicone polymers, tackifiers, and additives.

Understanding PSAs
Pressure-sensitive adhesives (PSAs) are easy-to-use and have the ability to tackle adhesion challenges in several industries. The environmentally friendly nature of PSAs, coupled with compliance with government regulatory bodies like the Environmental Protection Agency (EPA), is a critical factor supporting segment growth.

In terms of the packaging industry, the requirements are becoming increasingly complex (especially in the food and beverages sector) due to product proliferation and rising competition. This will open new avenues for the market as PSAs offer the flexibility to meet these complex requirements.

One of the major drivers of the pressure-sensitive adhesives market is the increasing demand for convenience packaging, especially in the food and beverage industry. PSAs are widely used in food packaging due to their ability to provide a secure and reliable seal that keeps food fresh and free from contamination.

PSAs are also used in other industries, such as automotive, where it finds end-uses in safety and warning labels and component identification labels in the supply chain.

About one square meter of label is typically used in an average car, wherein only 10 to 15% of the labels are tire pressure and warning labels, which are visible to car owners. The rest of the labels, that remain virtually unseen, are applied on automotive parts. They are used to denote the part number and product specification, during its assembly.

These adhesives are also used in the building an construction industry for certain barriers, roofing linings, masking, insulation, and interior design.

Additionally, you’ll find PSAs in graphic films including road traffic signage, branding graphics, advertising graphics, large format weather-resistant graphics, home décor, point-of-purchase promotions, outdoor advertising, and vehicle graphics. Branding and advertising graphics are gaining more emphasis in corporate strategies of multinational companies as a brand logo and advertising play a crucial role in influencing the consumer demand.

The type of adhesive base
Water-based PSAs are extensively used on paper and are preferred over other technologies for food & beverage labels. Moreover, they are used in the production of general purpose permanent labels, removable labels, and pharmaceutical labels.

Solvent-based technology is generally acrylic or rubber-based polymer formulations dissolved in solvent. Major advantages of solvent-based technology include a wide range of adhesion with quick curing, high bond strength, as well as high heat and chemical resistance. Solvent-based segment is driven by the use of this technology in durable, demanding, and long-term end-uses.

The demand for hot-melt technology is expected to grow owing to lower costs as compared to other technologies. Hot-melt PSAs allow the converters to use higher coat weight. Also, the flexibility offered by hot melts to bond on smooth and rough surfaces is a significant factor in facilitating the faster growth of this segment.

In terms of revenue, radiation-cured PSAs are expected to register the fastest CAGR of 5.5% over the forecast period. The technology is designed to meet a variety of end-use requirements including the tapes and labels in different industries, such as food packaging, automotive, and electronics. They have similar advantages as that of solvent-based acrylic including resistance to cleaners and solvents. Additionally, they do not require special ovens to dry and have no appreciable VOC emissions.

Chemistries
Acrylics dominated the market with a revenue share of more than 58% in 2022. This is attributed to extensive usage of acrylic-based PSAs owing to their oxidation and UV resistance. They are formulated by reacting suitable acrylic monomers, which are later cross-linked to form the required polymer. They are generally used on paper and polar surfaces like steel, glass, aluminum, zinc, polycarbonate, tin, and Polyvinyl Chloride (PVC).

Rubber-based products are typically based on hot-melt and solvent-based systems. The adoption of rubber-based products in tapes is driven by their ability to provide quick adhesion on rough and smooth surfaces alike. As opposed to acrylic, rubber-based products are extensively used on non-polar, low-energy surfaces. They offer a more economical choice for tapes manufacturers.

In terms of revenue, silicone-based products are estimated to witness the fastest CAGR of 5.6% over the forecast period. The use of this formulation is driven by their ability to provide adhesion to silicon and other technology that are difficult to adhere. In addition, silicone formulations are characterized by extreme weather resistance and have longer durability as compared to acrylics and rubber. However, the large scale adoption of silicone-based PSAs is restricted by their significantly higher cost as compared to acrylics and rubber.

Key companies
3M Company, Avery Dennison, and Henkel are the global leaders in the market owing to their high expertise, extensive product portfolio, and continuing strategic initiatives like acquisition and new product launches. These companies are highly integrated in their manufacturing operations.

For example, 3M has been investing in the development of innovative PSA products for various End-uses, including automotive, construction, and healthcare. In 2020, the company launched a new line of transparent PSA films that provide high adhesion to various Technology, including low surface energy plastics.

Other prominent players in the global pressure-sensitive adhesives market include:

• H.B. Fuller
• Henkel AG & Co., KGaA
• Bostik S.A.
• 3M
• Sika AG
• Ashland, Inc.
• Jubilant Industries Ltd.
• Franklin Adhesives & Polymers.
• DowDuPont Inc.

Key insights from the report:

• Water-based technology led the market in 2022. These products are eco-friendly, which is a significant factor driving the segment growth.
• Tapes segment led the market in 2022. Increasing demand for carton sealing from the packaging industry and its increasing usage in automotive assembly is the major factor driving the segment.
• In terms of revenue, graphic films are estimated to register the fastest CAGR of over the forecast period. Increasing demand for vehicle graphics and advertising graphics will stimulate the segment growth.
• Silicone-based adhesive formulations are estimated to expand at the fastest CAGR owing to excellent weather resistance and long-term durability offered by these formulations.
• Asia Pacific led the global PSAs market in 2022 owing to extensive product demand and manufacturing activities in the region.
• 3M Company, Henkel, and Avery Dennison are the dominant industry participants owing to their wide product portfolio and significant integration in the manufacturing process.

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Filed Under: Adhesives • epoxies
Tagged With: grandviewresearch
 

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