Pressure Sensitive Adhesives Market By Application (labels, tapes, graphics, specialty), By End-User (building & construction, electronics, electrical & telecommunication, and others ), By technology (hot melt, radiation, solvent-based, water-based), By product (radiation cured, water-based, solvent-based and others), By Region And Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, And Forecast 2023-2032

Report Overview

Pressure Sensitive Adhesives Market size is expected to be worth around USD 16.9 Bn by 2032 from USD 10.7 Bn in 2022, growing at a CAGR of 4.8% during the forecast period from 2023 to 2032.

Request Covid - 19 Impact

Pressure sensitive adhesives are intriguing substances that exhibit exceptional adhesion to surfaces when subjected to light pressure. Their utility extends to a vast array of products, including labels, tapes, medical devices, and electronics, as a result of their superior properties, which include usability, adaptability, and cost-effectiveness. The implications of these characteristics lay in the ability of pressure sensitive adhesives to simplify processes and reduce costs, thereby providing a practical, efficient, and environmentally friendly solution. Without requiring solvents or heat to activate, their consistent performance, ease of application, and compatibility with various surfaces have made them a popular choice for a variety of applications.

Pressure sensitive adhesives market has witnessed a number of significant innovations that have profoundly altered the landscape of the industry. For instance, 3M has created a revolutionary adhesive technology that enables labels to be repositioned multiple times without losing their adhesion. In the meantime, Avery Dennison has developed adhesives that can be removed readily without leaving a residue. These extraordinary advancements have created new applications for pressure sensitive adhesives, which can now be used for a wide variety of purposes.

Several industries, including packaging, automotive, electronics, and medical, have recognised the advantages of pressure sensitive adhesives and begun investing in this burgeoning market. In addition, the explosive development of the e-commerce industry has created new opportunities for pressure sensitive adhesives market in the packaging and logistics industries, thereby accelerating the growth of the industry.

As the pressure sensitive adhesives market continues to expand, ethical and responsible use of these products is becoming a developing concern. Manufacturers and suppliers have a solemn obligation to ensure that their products are safe, eco-friendly, and sustainable. Additionally, there is an emphasis on openness, explicability, and responsibility, especially in the areas of labelling and certification. In order to ensure the well-being of both society and the environment, it is crucial that this industry operate in a socially responsible and environmentally sustainable manner.

Driving factors

Increasing Demand for pressure sensitive adhesives

In recent years, the packaging industry has considerably contributed to the rise in demand for pressure sensitive adhesives. These adhesives offer numerous advantages over other adhesives, including superior bonding strength, which makes them ideal for packaging materials. Pressure sensitive adhesives adhere well to a wide range of surfaces, ensuring that packaging materials remain securely sealed during transport and storage.

Electronics Utilising Pressure Sensitive Adhesives

The increased demand for electronic devices such as smartphones, tablets, and laptops has also prompted the electronics industry to employ pressure sensitive adhesives. These adhesives provide a cost-effective and dependable solution for bonding, making them an ideal option for use in a variety of electronic components.

Economical and Featherweight Adhesives

The cost-effectiveness and portability of pressure sensitive adhesives also contribute to their high demand. They are simple to apply and do not significantly increase the weight of finished products, making them ideal for use in a variety of industries spanning from the automotive to the healthcare sectors.

Industry of Healthcare and Pressure Sensitive Adhesives

The expanding use of medical tapes and dressings in the healthcare industry is driving the expansion of the pressure sensitive adhesives market. These adhesives provide excellent skin adhesion and are readily removable without causing skin damage.

Restraining Factors

Fluctuations in Raw Material Prices

The volatility of raw material prices is one of the most significant obstacles confronting Pressure Sensitive Adhesive (PSA) producers. The market is replete with an abundance of raw materials, such as acrylic polymers, silicone, rubber, and resins, among others, which are susceptible to enormous price fluctuations due to a variety of factors, such as global demand, supply disruptions, and geopolitical tensions. The extreme volatility of these raw materials presents a formidable obstacle for manufacturers, who must contend with pricing conundrums, inaccurate forecasts, and overall market instability.

To combat this difficulty, PSA manufacturers have realigned their supply chain, employing a more diversified strategy that draws from multiple sources of raw materials, thereby reducing the impact of supply chain disruptions caused by a single supplier. In addition, they have shifted their focus to investing in extensive Research and Development (R&D) activities targeted at developing cost-effective, sustainable, and supply-stable alternative raw materials.

Stringent Regulations

The stringent regulatory framework that regulates the use of chemicals in adhesives is another formidable factor that poses a substantial barrier to the PSA market. There has been an increase in the number of stringent directives and standards aimed at regulating the use of certain adhesives in response to rising concerns regarding the environmental, health, and safety risks associated with their use. For instance, the European Union's REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) regulation restricts the use of certain chemicals in adhesives, thereby limiting the options available to manufacturers.

To overcome this obstacle, businesses must engage in R&D initiatives to develop sustainable, eco-friendly, and safe adhesives. In addition, they must comply with the prevailing regulations and invest in the necessary documentation and certification to mitigate the effects of the stringent regulatory environment.

Lack of Awareness

Lack of end-user awareness of the advantages of pressure sensitive adhesives in a variety of applications is yet another obstacle facing the PSA market. This has caused end-users to choose traditional adhesive solutions or alternatives, such as hot-melt and water-based adhesives, which offer comparable benefits at a lower price. This ignorance has hindered the growth and adoption of pressure sensitive adhesives, especially in developing economies.

Availability of Alternatives

The PSA market also faces competition from alternative adhesive solutions, such as hot-melt and water-based adhesives, which offer comparable benefits at a lower price. This has heightened competition and price pressure in the PSA market, compelling manufacturers to continually reevaluate their strategies and innovate.

PSA manufacturers must invest in R&D to develop innovative, cost-effective, and efficient products that offer distinct advantages over alternative adhesive solutions in order to address this problem. To obtain a competitive advantage, they must also prioritise improving the overall quality of their products and enhancing customer service.

By Technology Analysis

In recent years, the market proportion of water-based PSAs has increased to over fifty percent. The segment's popularity is due to its eco-friendliness and affordability. This form of PSA is solvent-free, making it less hazardous to the environment and simpler to dispose of.

Additionally, consumer trends and behaviours favour the water-based PSA segment. As environmental concerns have increased, there has been a transition towards eco-friendly products. Regardless of whether it is food packaging or cosmetic labels, consumers prefer sustainable products. The expansion of e-commerce has also increased the demand for pressure sensitive adhesives used in parcel delivery.

Due to the aforementioned factors, the water-based PSA segment is anticipated to experience the highest growth rate in the coming years. The increasing demand for pressure sensitive adhesives market, coupled with the need for environmentally friendly and cost-effective solutions, will continue to drive the expansion of the water-based PSA segment.

By Application Analysis

The labels segment dominates the market for pressure sensitive adhesives and represents a substantial portion of the industry. The labels industry, which includes product identification, pricing, and packaging information, is the largest pressure sensitive adhesives market end-use segment.

This market is growing due to the increasing demand for labels in industries such as food and beverage, pharmaceuticals, and cosmetics. Advanced labelling technologies, particularly inks and adhesives, have played a significant role in the development of novel packaging-enhancing products.

This segment's development has also been significantly influenced by consumer trends and label-related behaviour. Innovative label adhesives have been created in response to the demand for sustainable and environmentally favourable products. Consumers are becoming more aware of the detrimental effects of adhesives and are increasingly drawn to products with safe, non-toxic, and natural compositions.

By End-Use Analysis

The packaging segment dominates the pressure sensitive adhesives market and claims the largest market share. Diverse industries have a growing demand for packaging materials, and pressure sensitive adhesives are an essential component for ensuring safe and secure packaging. Strong demand from end-use industries such as food and beverage, healthcare, and consumer products drives the packaging market. With the rise of e-commerce, the demand for pressure sensitive adhesives and tapes to ensure safe and dependable packaging has increased.

Consumer packaging trends and behaviour also contribute to the expansion of this market segment. Consumers are becoming more aware of the environmental impact of excessive packaging and are opting for sustainable and recyclable packaging alternatives. This trend has increased the demand for eco-friendly pressure sensitive adhesives market that provide safe packaging solutions.

Due to the aforementioned factors, it is anticipated that the Packaging segment of the Pressure Sensitive Adhesives Market will experience substantial growth in the coming years. With the rising demand for safe and eco-friendly packaging, this market has tremendous growth potential.

Key Market Segments

By Technology

• Hot Melt
• Radiation
• Solvent-based
• Water-based

By Application

• Labels
• Tapes
• Graphics
• Specialty

By End-User

• Building & Construction
• Electronics
• Electrical & Telecommunication
• Medical & Healthcare
• Packaging
• Automotive & Transportation

Growth Opportunity

Emerging Economies Fuel Growth

Emerging economies are fueling the demand for pressure sensitive adhesives as they experience rapid urbanisation and infrastructure development, leading to an increase in packaging and labelling applications. As the manufacturing and industrial sectors continue to grow, so does the demand for industrial pressure-sensitive adhesives. The robust demand for pressure sensitive adhesives from emerging economies is anticipated to continue in the near future, contributing to the expansion of the global market for pressure sensitive adhesives.

Bio-based and renewable pressure-sensitive adhesives are being developed.

The depletion of mineral oil reserves has precipitated a significant shift towards the development of bio-based and renewable pressure-sensitive adhesives. Bio-based and renewable pressure-sensitive adhesives are derived from natural materials, such as glucose, cellulose, and vegetable oils. They provide a sustainable and environmentally favourable alternative to petrochemical-based synthetic adhesives.

The development of bio-based and renewable pressure sensitive adhesives is motivated by the increasing environmental consciousness and stringent regulations governing hazardous materials. In the coming years, the rising demand for eco-friendly products is anticipated to fuel the expansion of bio-based and renewable pressure sensitive adhesives.

Medical industry demand for pressure-sensitive adhesives is increasing.

Medical applications such as wound care, medical device assembly, and surgical drapes, among others, make the medical industry a significant end-user of pressure sensitive adhesives. Utilising pressure sensitive adhesives in the medical industry provides flexibility, conformability, and exceptional adhesion, making it an ideal choice for medical applications. The increasing demand for innovative medical devices and materials, as well as the rising cost of healthcare, are anticipated to propel the expansion of the market for pressure sensitive adhesives in the medical industry.

Latest Trends

Demand for High-Performance Pressure-Sensitive Adhesives is Increasing.

In today's fast-paced society, everything, including bonding and adhering, must be completed swiftly and effectively. Here, pressure sensitive adhesives come into play. Due to their ease of use and ability to adhere to a variety of surfaces, pressure-sensitive adhesives are the preferred choice for many manufacturers.

The demand for high-performance pressure-sensitive adhesives has increased significantly. The increase in demand can be attributed to the numerous advantages offered by these adhesives. They offer a robust, instantaneous bond and have exceptional temperature resistance, making them ideal for use in harsh environments. In addition, they are adaptable and can be utilised in a variety of applications, from the automotive to the aerospace industries.

Greater emphasis on the creation of bio-based and renewable adhesives

As the world becomes aware of the destructive effects of climate change, there is a rising demand for sustainable living. This has led to a greater emphasis on the development of bio-based and renewable adhesives that can replace conventional adhesives produced from fossil fuels.

Renewable and bio-based adhesives are derived from plant-based materials such as soy, maize and other vegetation. Compared to conventional adhesives, they are biodegradable, recyclable, and have a reduced environmental footprint. In addition, they are safer to use because they do not contain chemicals that are detrimental to the environment.

Demand for Pressure Sensitive Adhesives is Rising in the Healthcare Sector

When it comes to adhesives, the healthcare industry is one of the most demanding industries. Medical devices, wound dressings, and electrodes all require adhesives that can withstand daily use. Pressure sensitive adhesives are an ideal solution because they provide firm, reliable adhesion while remaining skin-friendly.

With the expansion of the healthcare industry, the demand for pressure-sensitive adhesives has increased. This trend will likely continue as the industry continues to expand rapidly. Manufacturers are investing in R&D to create adhesive solutions that can satisfy the growing demands of the healthcare sector.

Regional Analysis

We are pleased to provide a comprehensive analysis of the Asia Pacific Pressure Sensitive Adhesives market to our readers. According to extensive research, the Asia-Pacific region is the largest PSA market in the world, accounting for more than 40% of the overall revenue.

In recent years, the PSA market has gained significant traction, primarily due to the high demand for adhesive products in a variety of industries. The PSA market has experienced considerable expansion due to rising demand from the automotive, packaging, and healthcare sectors. The Asia-Pacific region's industrial development is expanding swiftly; consequently, the market is anticipated to expand in the coming years.

The Asia-Pacific region generates the majority of the world's PSA materials and is home to a significant number of adhesive industry leaders. China, Japan, and India are the leading contributors to this market's expansion in the region. The rise of these nations as dominant market actors can be attributed to their advanced manufacturing technologies and their status as centres for a variety of end-use industries.

Packaging is another industry that significantly contributes to the expansion of the PSA market in the Asia-Pacific region. In this industry, the demand for PSA materials is on the rise due to the rapid expansion of the e-commerce sector and the rising demand for sustainable packaging solutions.

In addition, the healthcare industry has contributed significantly to the expansion of the PSA market in the Asia-Pacific region. Increasing demand for medical devices and drug delivery systems has fueled the demand for PSA materials, primarily due to its superior adhesion and biocompatibility characteristics.

Key Regions and Countries

North America

• US
• Canada
• Mexico

Western Europe

• Germany
• France
• The UK
• Spain
• Italy
• Portugal
• Ireland
• Austria
• Switzerland
• Benelux
• Nordic
• Rest of Western Europe

Eastern Europe

• Russia
• Poland
• The Czech Republic
• Greece
• Rest of Eastern Europe

APAC

• China
• Japan
• South Korea
• India
• Australia & New Zealand
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Colombia
• Chile
• Argentina
• Costa Rica
• Rest of Latin America

Middle East & Africa

• Algeria
• Egypt
• Israel
• Kuwait
• Nigeria
• Saudi Arabia
• South Africa
• Turkey
• United Arab Emirates
• Rest of MEA

Key Players Analysis

Pressure sensitive adhesives (PSAs) are a form of adhesive that can create a bond between two surfaces when pressure is applied, without the need for heat or solvent. It is utilised in a number of industries, including packaging, automotive, medicinal, construction, and electronics. The growing demand for PSAs is fueled by the expansion of the packaging industry and the demand for lighter, more fuel-efficient automobiles.

Key participants in the market for pressure sensitive adhesives include Avery Dennison Corporation, 3M Company, Henkel AG & Company, H.B. Fuller, Ashland Inc., and Arkema Group. In 2019, Avery Dennison Corporation led the global market for pressure sensitive adhesives with a 19.1% market share. The company expanded its product line in 2017 by acquiring Hanita Coatings, an Israeli manufacturer of pressure-sensitive materials. Hanita Coatings is based in Israel.

The 3M Company is another major participant in the market for pressure-sensitive adhesives. Healthcare, consumer, industrial, and safety & graphics are among the company's numerous operating segments. In 2019, 3M Company introduced a new pressure-sensitive adhesive called 3M Scotch-Weld Low Odour Instant Adhesive, which is a solvent-free, high-temperature-resistant adhesive.

Henkel AG & corporation is a multinational corporation based in Germany that manufactures adhesives, sealants, and coatings. The company's pressure-sensitive adhesives are utilised in a variety of industries, including transportation, electronics, and industrial assembly. Henkel AG & Company acquired the U.S. adhesive manufacturer Molecule Corp. in 2019 to expand its product offering in the electronics sector.

Top Key Players in Pressure Sensitive Adhesives Market

• Novamelt Americas LLC
• 3M Collano Adhesives AG
• Henkel AG Company KGAA
• The Dow Chemical Company
• Avery Dennison
• Bostik SA
• Dow Corning
• H.B Fuller.

Recent Development

• In 2020, Wacker introduced DEHESIVE PSA 84X, a new addition to their portfolio of pressure-sensitive adhesives that offers superior bonding performance, versatility, and environmental friendliness for a wide range of applications.
• In 2021, CleanFlake Adhesive Technology was introduced by Avery Dennison to increase the recyclability of PET containers used in the food, beverage, and personal care industries.
• In 2021, Henkel introduced Technomelt Supra Pro, a new line of pressure-sensitive adhesives with superior heat resistance and adhesion to a variety of substrates, including plastics and metals.
• In 2021, Fixatti, a corporation specialising in high-performance thermobonding adhesive powders used in the automotive, construction, and textile industries, was acquired by Arkema.

Report Scope