Pressure Sensitive Adhesives Market worth $16.9 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 11, 2022 /PRNewswire/ -- The report "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", 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. The market is witnessing healthy growth, and the trend is expected to continue in the long term. The market for PSAs is mainly driven by the growing packaging, automotive & transportation, medical & healthcare, and electrical, electronics, and telecommunication industries. The industry scenario hints at making huge investments by major market players to serve the increasing demand from emerging countries.

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Tapes are the largest application segment of the overall Pressure Sensitive Adhesives Market.

The tapes segment accounts for the largest share, in terms of value, of the overall Pressure Sensitive Adhesives Market. PSA tapes are of various types based on the technological developments and requirements of the application, namely, single-coated, double-coated, reinforced, and unsupported. Single-coated PSA tapes have adhesives applied to only one side of the backing. Double-coated PSA tapes have adhesive applied to both sides of the backing. The PSA is coated on both sides of the carrier, which is typically a polymeric film such as 0.5 mil polyester. Examples of double-coated tapes include mounting, medical, and membrane switch tapes. 

Medical & Healthcare is the fastest-growing end-use industry segment of the overall Pressure Sensitive Adhesives Market.

PSAs have prime importance in the medical & healthcare industry and are extensively used in hospitals. These medical products include PSA transfer tapes and single-coated & double-coated PSA tapes. Adhesive transfer tapes and double-coated tapes are mostly used in medical device OEMs to adhere to medical devices, strips, and pouches. These products are associated with medical diagnosis and waste management. Single-coated PSAs are used as bandages, medical tapes, wound closure tapes, surgical tapes, and skin attachments for electrodes, IV dressings, and medical sensors. Labels serve in inventory management, and waste management, and find their use in the labeling of medical products where clarity and permanent adhesion are needed. In the healthcare equipment industry, specialty tapes are applied on surgical containers, monitoring electrodes, and other medical devices. Medical tapes and adhesive plasters are a few of the PSAs used in the medical industry. 

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China is the largest Pressure Sensitive Adhesives Market in Asia Pacific during the forecast period.

China is the largest market for PSAs in the Asia Pacific, with many key market players investing in the country to build new manufacturing facilities and distribution networks. The major industries in China are manufacturing, electronics, and telecommunication services. China exports manufacturing goods. The spectrum of Chinese goods includes iron, steel, aluminum, textiles, cement, chemicals, toys, electronics, rail cars, ships, aircraft, and others. The other important industries include textiles, cement, railway, petroleum, aerospace, automotive, chemicals, mining, and consumer and industrial goods. The factors driving the Chinese economy are the upper-middle class population and the booming service sector. The industrial environment in China is favorable for the growth of the PSA market.

The key players profiled in the Pressure Sensitive Adhesives Market report are Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (US), Avery Dennison Corporation (US), H.B. Fuller Company (US), and 3M (US).

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