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Key Players in the PSA Market
The pressure sensitive adhesives (PSA) market was valued at USD 7.87 Billion in 2015 and is projected to reach USD 15.76 Billion by 2026, at a CAGR of 6.6% between 2016 and 2026. The increasing demand for PSAs from varied end-use industries, such as packaging, automotive & transportation, and electronics, electrical & telecommunication is driving the growth of the PSA market. Increasing applicability of PSAs in tapes and labels and the ability of PSAs to dampen vibration and inhibit corrosion are additional factors propelling the demand for PSAs among varied end-use industries.
The report analyzes the key growth strategies adopted by market players between 2011 and 2016. Henkel AG & Co. KGaA (Germany), 3M Company (U.S.), The Dow Chemical Company (U.S.), Avery Dennison (U.S.), Ashland Inc. (U.S.), and H.B. Fuller (U.S.) are leading players in the PSA market.
New product launches and mergers & acquisitions are key growth strategies adopted by industry players to strengthen their presence in the PSA market. These strategies accounted for shares of around 50% and 30% respectively, of all growth strategies adopted by market players. Rising demand for eco-friendly and high performance products has propelled key players to undergo R&D activities for the development of innovative products in the PSA market.
Henkel AG & Co. KGaA is one of the leading players in the PSA market. The company, being a key manufacturer of PSAs, aims to strengthen its market position and enhance its customer base. As a part of its business strategy, Henkel AG & Co. KGaA focuses on R&D activities to develop high quality products by employing the latest state-of-art technology and continuously improving the efficiency of its operations. The company also concentrates on attracting, developing, and retaining a skilled workforce. The company is also engaged in strategic acquisitions and new product launches to cater to the high demand for PSAs in the near future. In June 2015, the company acquired Novamelt GmbH (Germany) to expand its business in field of pressure sensitive adhesives. In March 2013, the company launched Aquence PS 6025, a PSA for sticking transparent films to transparent substrates such as glass or plastic.
The Dow Chemical Company operates its PSA business under its infrastructure solutions segment. The company launched Robond L95D, a pressure sensitive aqueous solution for medical and specialty tapes in March 2011. In November 2012, the company invested in a new lab-scale equipment to accelerate technological developments in the PSA market.
Pressure Sensitive Adhesives Market by Chemistry (Acrylic, Rubber, EVA), Technology (Water-based, Solvent-based, Hot Melt), Application (Labels, Tapes, Graphics), End-Use Industry (Packaging, Automotive, Medical), Region - Global Forecast to 2026
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