Research Nester published a report titled “Pressure Sensitive Adhesives Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global pressure sensitive adhesives market in terms of market segmentation by composition, technology, application, end-user, by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global pressure-sensitive adhesives market is projected to grow at a CAGR of ~8% by attaining robust revenue during the forecast period, i.e., 2023 – 2033. Skyrocketing demand for pressure sensitives adhesives is anticipated to propel the growth of the market during the forecast period.
As of 2020, the demand for adhesives across the globe was anticipated to be around 15 million tonnes. Additionally, increasing the utilization pressure sensitive adhesives in cosmetics manufacturing is further estimated to propel the market growth over the forecast period. For instance, in 2022, the revenue generated by the cosmetics segment was anticipated to be approximately USD 5 billion.
Additionally, by application, the global pressure-sensitive adhesives market is segmented into graphics, labels, tapes, and others. Out of these sub-segments, the tapes segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to skyrocketing sales of tapes. As of 2020, the highest sales of the tapes segment were observed to be around USD 200 million.
Global Pressure Sensitive Adhesives Market Regional Synopsis
Furthermore, the global pressure-sensitive adhesives market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the Asia Pacific region is estimated to grow at a rapid pace over the forecast period on the back of increasing demand for pressure-sensitive adhesives in the oil & gas industry. It is observed that in 2021, approximately 7000 thousand barrels of oil were produced per year in the region.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Increasing Production of Pigment to Foster the Growth of the Market
The production of pigment is projected to be nearly 14 thousand metric tons in India in 2021.
Pressure-sensitive adhesives are utilized in the making of pigment production at a very high scale. It consists of properties such as, waterproofing, sealing agents, and corrosion & oxidation prevention. People are more inclined to buy pigment on the back of the rising trend of interior design. Therefore, such factors are anticipated to propel the growth of the market during the forecast period.
However, limited sources of pressure-sensitive adhesives and the requirement for higher initial investment are expected to operate as a key restraint to the growth of the global pressure-sensitive adhesives market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global pressure-sensitive adhesives market which includes company profiling of Henkel AG & Co. KGaA, The Dow Chemical Company, Avery Dennison Corporation, Ashland Inc., H.B. Fuller Company, Sika India Pvt. Ltd., Arkema Group, H.B. Fuller Company, Wacker Chemie AG, and Exxon Mobil Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments.
On the whole, the report depicts a detailed overview of the global pressure-sensitive adhesives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.