The Asia-Pacific Pressure Sensitive Adhesives market is expected to grow at with a CAGR greater than 7% during the forecast period. One of the major factors driving the market is the increasing adoption of low-cost flexible packaging. However, stringent environmental regulations regarding VOC emissions is hindering the growth of the market studied.
- Adoption of bio-based pressure sensitive adhesives is expected to provide a major growth opportunity for the market studied.
- China accounted for the highest share of the market and is likely to continue dominating the market during the forecast period.
- Among the end-user industries, packaging industry is expected to dominate the market studied during the forecast period.
Key Market Trends
Packaging Industry to Dominate the Market
- Adhesives play a crucial role in ensuring that the product packaging remains intact until it reaches the consumer.
- As there is an increase, in terms of several new products and product proliferation, packaging operations require a reliable adhesive, to meet the increasingly complex packaging demands.
- Pressure-sensitive adhesives (PSAs), specifically offer several advantages for the packaging industry which include:
- Reworking, or repackaging increases costs. PSAs offer a timely way to make products compliant and shelf-ready. Pressure-sensitive adhesives are safer than glue sticks and more discrete than traditional tape.
- Application of pressure-sensitive adhesives is time-saving, as there is no need to wait until they cure. The moment they are applied, they compress the substrate, right at the moment when adhesion takes place. Instant bonding increases the processing speed, as well as improves production.
- Brand image relies heavily on the appearance of the packaging. PSAs provide a bond that removes cleanly without damaging the packaging or leaving behind residue. Preserving brand image adds to your consumer appeal.
- Furthermore, in the last few years, the packaging industry has been experiencing a transition, where the manufacturing and industrial sector has been adapting to flexible packaging.
- Hence, owing to the above-mentioned factors, packaging industry is likely to dominate the Asia-Pacific pressure sensitive adhesives market during the forecast period.
China to Dominate the Market
- China accounts for the major share of the Asia-Pacific pressure sensitive adhesive market owing to the high demand from the packaging industry.
- China is one of the major exporters of adhesive products (tapes, labels, etc.) and the factors concerning the majority of its customers are quality of the product, product range offered by the vendor, and reducing the dosage and wastage of adhesives.
- Owing to this reason, international players currently dominate the Chinese market for pressure-sensitive adhesives. The same factor encourages local producers to invest in R&D to acquire a major share of the national market.
- Similarly, a significantly growing domestic demand for PSA is experienced from the food & beverage and hygienic product industries in the past few years.
- Hence, owing to the above-mentioned factors, China is expected to dominate the market studied during the forecast period.
The Asia-Pacific pressure sensitive adhesives market is moderately consolidatedas the top playrs of the market account for a major share of the market share. Some of the major players of the market include 3M, Arkema Group, H.B. Fuller Company, Dow, and Henkel AG & Co. KGaA, among others.
- The market estimate (ME) sheet in Excel format
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