The market for solvent pressure sensitive adhesives is expected to grow at a CAGR of around 4.5% during the forecast period. Major factors driving the market studied is increasing adoption of low-cost flexible packaging aids
- Shifting focus toward bio-based PSA's, and new product development to gain competitive edge is likely to act as an opportunity to the market.
- Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.
Key Market Trends
Increasing Demand for Tapes
- Tapes are used in day-to-day life, for various purposes, ranging from packaging to attaching.
- Solvent PSA tapes are widely resistant to weathering and aging that compromises many adhesives, especially when exposed to UV rays, moisture, and chemicals. They maintain stability when exposed to high temperatures, making it go-to adhesive tapes, especially for thermal applications.
- These tapes are used in day-to-day life for various purposes, ranging from packaging to attaching. Some of the applications of solvent PSA tapes are automotive tape, conspicuity tape, general-purpose permanent tape, and specialty tape.
- Some of the major advantages of solvent pressure-sensitive adhesives tapes include:
- Good low and high-temperature performance
- Suitable for high grab, heat seal, or truck-edge marking
- Toluene free
- Very good temperature resistance
- Good adhesion on various substrates, like ABS, PVC, PS, PA, and aluminum
- Very aggressive tack
- For splicing of various materials
- Very good peel retention on highly plasticized PVC banners
- Henkel, Dow, etc. are some of the major players involved in the manufacture of solvent acrylic pressure-sensitive graphic tapes.
- Such factors are likely to increase the demand for the market over the forecast period.
United States to Dominate the North America Region
- The United States is the second-largest automotive manufacturer, after China, and had a production of 11.31 billion vehicles in 2018.
- The automotive production decreased by 8.13% in 2017 to 11,189,985 units. However, the production took up the pace in 2018 and registered growth.
- However, various automotive manufacturers are planning to invest during the coming years, amid threats from the government to increase levies on auto imports from Mexico.
- In March 2019, Toyota announced its decision to invest USD 13 billion over the next five years to increase the production of hybrid versions of the RAV4 and Lexus ES.
- The packaging sector of the United States is growing at a significant pace, and is expected to reach a market value of USD 315.3 billion, during the forecast period. The major driving factor of the market is the rapid increase in the consumption of packaged food.
- Hence, owing to the increasing demand from end-user industries, the market in the United States is likely to grow during the forecast period.
The solvent pressure sensitive adhesives market is partially consolidated. Some of the major players include Henkel AG & Co. KGaA, HB Fuller, Ashland, Dow, and Hexion, amongst others.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support