The global pressure sensitive adhesives market is projected to grow from USD 13.2 billion in 2022 and is projected to reach USD 16.9 billion by 2027, at a CAGR of 5.1%, between 2022 and 2027 period. The growth of the packaging industry in emerging countries in the Asia Pacific and the Middle East & Africa is driving the demand for PSAs in these regions.
The key players following the strategies between 2017 to 2022 are Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (US), Avery Dennison Corporation (US), H.B. Fuller Company (US), and 3M (US). The companies are majorly following new product launch and investment & expansion as the strategy to grow and expand the market.
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Henkel AG & Co. KGaA (Germany) operates worldwide by offering leading innovations, brands, and technologies in three business areas, namely, Adhesive Technologies, Beauty Care, and Laundry & Home Care. The Adhesive Technologies business segment manufactures and distributes decoration and renovation products for packaged & consumer goods, home & office, building adhesives, and industrial infrastructure. Under these dynamic economic conditions, the organic sales performance of the segment improved significantly compared to the previous year. In February 2020, Henkel Adhesives Technologies opened its new production facility in Kurkumbh, Pune, India. The unit aims to serve the growing demand for high-performance solutions in adhesives, sealants, and surface treatment products in Indian industries. Designed as a smart factory, the new plant will also help a wide range of industry 4.0 operations and meet the highest standards for sustainability.
H.B. Fuller Company (US) formulates, manufactures, and markets adhesives and other specialty chemical products globally. The company operates through five segments, namely, Americas Adhesives, Construction Products, EIMEA (Europe, India, Middle East, and Africa), Engineering Adhesives, and Asia-Pacific. H.B. Fuller Company’s product line finds applications in the fields of packaging, converting, nonwoven, and hygiene. The company has 48 manufacturing plants, of which 21 are based in the US, while the remaining 27 are in 18 other countries worldwide. In November 2018, H.B. Fuller launched a new product named Swift melt 1908 in India at Labelexpo 2018. The product was customized to meet the unique requirements in India and was designed to provide high adhesion, precise die-cutting performance, and clean converting on holographic label stock.
Pressure Sensitive Adhesives Market by Chemistry (Acrylic, Rubber, Silicone), Technology (Water-based, Solvent-based, Hot Melt), Application (Labels, Tapes, Graphics), End-Use Industry (Packaging, Automotive, Healthcare) Region - Global Forecast to 2027
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