PUNE, India, October 31, 2016 /PRNewswire/ --
The report "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 2021", published by MarketsandMarkets, the market is projected to reach USD 11.22 Billion by 2021, at a CAGR of 6.1% between 2016 and 2021.
Browse 194 market data Tables and 63 Figures spread through 219 Pages and in-depth TOC on "Pressure Sensitive Adhesives Market"
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The increasing need for bio-based PSAs is propelling the development of innovative products in the PSA market.
Based on chemistry, acrylic is the largest segment of the PSA market, owing to its extensive usage in two major applications, namely, labels and tapes. It is widely used in the automotive & transportation and medical & healthcare end-use industries. It is highly preferred due to its resistance to aging, moderate cost, and excellent physical properties such as peel adhesion, high cohesion, UV resistance, chemical & humidity resistance, high cutability, and thermal stability.
Water-based is the largest technology segment of the PSA market
Water-based technology is the largest segment in the PSA market; this growth is mainly attributed to the eco-friendly nature of water-based PSAs, safety associated with their use, and cost-effectiveness. Water-based PSAs are widely used in varied applications such as tapes, labels, and graphics.
Labels is the largest application segment of the PSA market
The labels segment is estimated to account for the largest market share, in terms of value as well as volume, followed by tapes and graphics, in 2016. Labels are widely used in varied end-use industries such as medical & healthcare, packaging, and electronics, electrical & telecommunication, among others. They are also utilized in sectors such as consumer goods, HVAC (heating, ventilation, and air conditioning), and food & beverage.
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Packaging end-use industry is estimated to account for the largest market share
PSAs are used in varied end-use industries such as packaging; electronics, electrical & telecommunication; medical & healthcare; and building & construction; among others. The packaging end-use industry is estimated to account for the largest market share, in terms of volume, in 2016. The electronics, electrical & telecommunication end-use industry is estimated to grow at the highest CAGR between 2016 and 2021, in terms of value. Increasing per capita income and improving living standards are driving the demand for electronic products, which further propels the growth of the PSA market.
Asia-Pacific is projected to lead the PSA market during the forecast period
The Asia-Pacific region is the largest regional segment of the Pressure Sensitive Adhesives Market, owing to rise in industrial and infrastructural developments. Asia-Pacific has emerged as the leading consumer as well as producer of PSAs, due to the increasing demand for pressure sensitive adhesives from India, South Korea, China, and Indonesia, among others.
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