The high demand of pressure-sensitive adhesives (PSAs) in the automotive, electronics and packaging materials industry is a major factor driving the growth of the global pressure sensitive adhesives market. Reduction of electronic devices, increased adoption of radio frequency identification (RFID) labels for better inventory management, increasing demand for low emission and light weight automotives, flexible packaging materials and low cost of PSAs are some of the major opportunities in the Pressure sensitive adhesives market.
The global pressure sensitive adhesives market can be categorized on the basis of product type, applications and regions. Based on product type, the global pressure sensitive adhesives has been divided into water based PSA, solvent based PSA, hot melt PSA and radiation cured PSA. Based on application, the global pressure sensitive adhesives market can be classified as industrial tapes, specialty tapes, medical tapes, labels, graphics and others. Globally, tapes are the largest end-use application segment of pressure sensitive adhesives in terms of volume demand. Among various pressure sensitive adhesives by product type, water based PSAs dominated the Global pressure sensitive adhesives market by holding more than 60% of the market share in 2014.
Pressure sensitive adhesives (PSAs) are non-metallic materials used to bond different materials, mainly on their surface, through cohesion and adhesion. Heat or water is not required to apply the adhesive. The adhesives occupy the largest market share in the adhesives business. Pressure sensitive adhesives can match with a variety of substrates and are either permanent or removable. Silicone, acrylics and rubber are the major materials used in formulating pressure sensitive adhesives. Some other PSA formulations include epoxy, polyurethane, vinyl acetate, styrene butadiene styrene (SBS), and so on. In terms of end-use applications, the main markets for pressure sensitive adhesives are labels and tapes, while graphics hold a lesser amount of market share. The water based resins market undergoes enormous use of labels. Labels are used widely in pharmaceuticals, cosmetics, food and medical packaging, commodities, general purpose products, and so on.
The pressure sensitive adhesives market has been dominated by Asia-Pacific followed by North America in terms of volume. The countries in Asia-Pacific region do not have strict rules and regulations with respect to VOC emissions, due to which, the solvent-based technologies are growing rapidly in these markets. Further, more than half of the total water-based resin demand comes from China which makes it a key market in the Asia-Pacific region; Japan is experiencing steady growth in the global PSA market. The demand for commodities and appliances in the Asia-Pacific region is huge, which is the key driving factor for the PSAs market in applications such as tapes, labels, graphics, and so on etc. The automobile industry continues to grow fast in Asia-Pacific markets, such as China and India, which influences the demand of tapes for automobile applications.
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