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Pressure Sensitive Adhesives Market With Geographic Segmentation, Statistical Forecast and Competitive Analysis Report to 2024

Author : Ronak Bora | Published Date : 2019-05-24 

North America pressure sensitive adhesives market value is likely to cross USD 2 billion by 2024. Availability of numerous products and technology types of the market for various industries makes it a more reliable choice in the region.

Unveiling North America pressure sensitive adhesives market trends

North America has emerged as one of the most reliable and lucrative growth grounds for the overall pressure sensitive adhesives market. One of the pivotal reasons responsible for the growth of the regional industry is the expansion of the packaging sector in the continent, specifically across the United States. As per statistics provided by the Flexible Packaging Association, the U.S. recorded sales worth over USD 30 billion for the flexible packaging industry in the year 2014. Indeed, flexible packaging had then been touted to be the second largest packaging segment in the United States, with a registered share of 19% of the U.S. packaging market, that had been proclaimed by analysts to have been valued at somewhere over USD 162 billion back then.

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Driven by the robust deployment of these adhesives in the packaging sector, in addition to the availability of myriad technology types and products, North America pressure sensitive adhesives market size is all set to surpass USD 2 billion by 2024.

Technological developments have provided a major impetus to pressure sensitive adhesives market. For instance, since the automotive industry requires adhesives that can resist extreme heat, pivotal pressure sensitive adhesives industry firms have conducted numerous R&D programs to come up with a new, unique product. This adhesive is a high temperature resistant acrylic pressure sensitive adhesive that can withstand temperature of up to 400°F as compared to other acrylic pressure sensitive adhesives that can withstand temperatures of only up to 325°F.

Growth drivers

1.     Growth in the packaging industry

2.     Increasing use of tapes and labels in automotive & transportation sector

3.     Ease of application creating a wide acceptance

4.     Advancement in PSA tape technologies

 

Latin America holds a significant share in the pressure sensitive adhesives industry which generated a revenue of USD 550 million in 2024. Increasing demand for the product in the industrial sectors of Brazil and Mexico would augment the pressure sensitive adhesives market growth in the coming years.

Many such research and development programs are still on the radar, that will help manufacture adhesives that are more suited to different applications. Eventually, this would provide a major boost to the overall pressure sensitive adhesives market, the size of which is likely to surpass USD 9.5 billion by 2024.

By Application

  • Tapes
  • Labels
  • Graphics
  • Films & Laminates
  • Others

Ease of product application is a significant growth driver for the pressure sensitive adhesives market. They have a wide variety of applications including packaging tapes, specialty tapes, repositionable tapes, permanent labels, direct food contact applications, peelable labels, etc. These tapes and labels are easy to use and are popularly used for safety as well as aesthetic purposes. Escalating demand for sustainable packaging for environmental conservation and reduction of ecological footprints by using bio-based PSAs will propel the pressure sensitive adhesives industry.

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Silicone is an important product type of the pressure sensitive adhesives market which can withstand extreme temperatures and has chemical resistance. This relatively expensive product is frequently applied to products like glass cloth and aluminum foils so that they are appropriate for extreme temperature applications.

UV adhesives are highly viscous liquids that are screen printable and develop the desired viscoelastic properties upon ultra-violet exposure. The demand for this product has been growing in industrial-graphic applications such as durable labels, nameplates, membrane switches, and graphic overlays. Due to its eco-friendly nature, this technology will gain prominence and boost up the demand in pressure sensitive adhesives industry.

Rubber based PSA includes the use of both natural and synthetic rubber. It is a cheaper option with good adhesion properties, and is abundantly available. Natural rubber-based PSA are most suitable for applications involving low temperature and stress. They have low tack and must be formulated with plasticizers and tackifiers to accomplish pressure sensitive properties.

Films & laminates is a significant application segment in pressure sensitive adhesives market which is expected to develop at a rate of approximately 4.5% in the coming years. Labels also play an important role and enables the customers to gain critical information regarding the product. PSA labels are offered in the market in various forms which consists of permanent labels, peelable labels, frost-fix labels, high track labels etc.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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