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Pressure Sensitive Adhesives Market - New Report by MarketsandMarkets
Global PSA market is emerging with a positive growth due to the increasing number of applications in tapes, labels, and graphics that cater the demand of packaging, aerospace, electrical and electronics, construction, automotive industries, etc. There is a continuous need of innovations in the applications and products to help sustain against the different substitutes available in the market. Therefore, all major companies have created advanced application technology centers for R&D worldwide.
The rising attention towards the protection of human health and environmental risks has promoted various government regulations, has led to rise in developments of sustainable or bio based PSA. In order to achieve this hike, innovations are being undertaken to meet the synchronization of consumer needs as per their requirements. The demand for renewable and sustainable green resins are also gaining hold in this industry.
Asia-Pacific market has tremendous opportunities for PSA and its applications due to presence of enormous consumer industries like automotive, food packaging, etc. This region has emerged to be the driving factor for this market, contributing to more than 50% of the global demand. China leads the global market in the consumption of PSA and India is the fastest growing market, globally. The other emerging economies such as Brazil, The Middle East, Russia, India, etc. are further lined up for the brighter future in this market. The companies such as Avery Dennison and Scapa, headquartered in U.S. and U.K aims to increase its presence in the Asian market particularly in India by increasing its application development capability and global production infrastructure.
Through their organic growth strategies of new product developments and geographic expansions, the companies are opting to expand their PSA business worldwide. The major companies operating in this market such as Lintec Corporation located in Japan; BASF from Germany, U.S. based 3M, Ashland, Avery Dennison are taking efforts for developing sustainable adhesives, which are made from environment safe technologies.
Pressure Sensitive Adhesives Market by Technology (Water-Based, Solvent-Based, Hot Melt & Radiation), by Application (Industrial Tapes, Specialty Tapes, Medical Tapes, Labels, Graphics & Others) & by Geography - Global Trends & Forecasts to 2018
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