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DUBLIN--(BUSINESS WIRE)--Dec 2, 2022--
The "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" report has been added to ResearchAndMarkets.com's offering.
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.
Acrylic is estimated to be the largest chemistry segment of the pressure sensitive adhesives market.
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.
Asia Pacific is the forecasted to be the fastest-growing pressure sensitive adhesives market during the forecast period.
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.
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/02/2022 09:37 AM/DISC: 12/02/2022 09:37 AM
http://www.businesswire.com/news/home/20221202005236/en