Pressure Sensitive Adhesives Market to Reach USD 16.9 Bn by 2027
Research and Markets (RM) anticipates that the pressure sensitive adhesives market is projected to grow from USD 13.2 billion in 2022 to USD 16.9 billion by 2027, at a CAGR of 5.1% between 2022 and 2027.
Silicone PSA is the fastest-growing chemistry segment in terms of volume and value due to the increasing demand for high-grade PSAs required for the aerospace and automotive industries.
Acrylic resin in pressure sensitive adhesives held the largest market share in 2021 in terms of value. Acrylic PSA is the largest segment, by chemistry, in terms of both value and volume. These PSAs find applications in labels, graphics, and tapes.
They are widely used in packaging, automotive, medical, and other end-use industries. Acrylic PSAs are highly preferred in these industries due to their long shelf-life, environmental resistance, moderate cost, and excellent physical properties, such as resistance to UV radiation, chemicals, and humidity; good tack and peel adhesion; high cohesion and curability; thermal stability; and good shear properties.
Highest Growth in Asia Pacific Region
Asia Pacific is the largest market for pressure sensitive adhesives, and this dominance is expected to continue during the forecast period. The Asia Pacific has been the most favorable destination for manufacturers of PSA, even during the global economic slowdown.
Environmental and health & safety factors drive the use of PSAs in the electronics, packaging, construction, automotive, and other industries in the region. Water-based, radiation, and hot-melt are environmentally-friendly adhesives and are expected to gradually replace high-VOC solvent-based PSAs in the future, thus propelling the market growth in this region.
Source: Research and Markets