Pressure Sensitive Adhesives Market will grow at 5.5% up to 2024
Date: 2018-09-25   Author: Rahul Varpe  Category: #industry

Pressure Sensitive Adhesives Market will grow at 5.5% up to 2024

The ease of use, convenience, and cost effectiveness of the product have further contributed toward making pressure sensitive adhesives market a rather viable investment ground.As on today, the presence of pressure sensitive adhesives is almost all pervasive, since the product is used practically across myriad everyday applications. Right from package labels and graphic films to car exterior decorations, these adhesives seem to have become commonplace, thus providing a boost to pressure sensitive adhesives industry.

However, the technology used to manufacture these pressure sensitive adhesives as well as the base product used for the process of manufacturing causes a noticeable difference in the end product – a factor that has a major impact on pressure sensitive adhesives market size.

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An innate verticals 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.

Pressure sensitive adhesives are apt at permanently fusing dissimilar materials with the resultant cohesive bond being so strong, that it does not easily fall apart. In consequence, pressure sensitive adhesives industry has witnessed tremendous growth over the years, through the product’s usage in labels and tapes across the automotive, packaging, electronics, and healthcare sectors.

Among the various types of pressure sensitive adhesives, rubber and acrylic based adhesives are the most common. Rubber-based pressure sensitive adhesives industry was valued at close to USD 2 billion in 2016 – almost one third of the valuation of the overall pressure sensitive adhesives industry the same year. Rubber-based pressure sensitive adhesives are mainly used for indoor applications due to their low UV and chemical resistance, making them favorable to be used in tapes and labels, two of the most pervasively used pressure sensitive adhesives.

Acrylic-based pressure sensitive adhesives market size, on the other hand, was pegged at nearly USD 1.7 billion in 2016 and is predicted to witness a 5% CAGR over the period of 2017-2024. Acrylic based pressure sensitive adhesives are relatively more expensive than their rubber counterparts, but also perform better with the bond improving over time and the adhesive having enhanced tack and sheer qualities.

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According to the performance of pressure sensitive adhesives, different adhesives are used for different industries. The packaging industry widely uses weaker pressure sensitive adhesives because of the convenience the product offers coupled with the attraction it adds to the package without damaging its visual appeal. As pressure sensitive adhesives do not require heat for application, are less intrusive with brand image, instantly bond, and are compatible with numerous substrates, pressure sensitive adhesives market outlook has witnessed a major change of dynamics from the packaging sector.

Besides packaging, the automotive and transportation industry has also largely adopted pressure sensitive adhesives because of its favorable properties such as compatibility with a host of substrates, maintenance of integrity during automated processes, less time consumption, and assistance in eliminating the process of drilling and mechanical fastening. The large expanse of automotive industry has inevitably provided a huge profit base to pressure sensitive adhesives market.

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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 11 billion by 2024.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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