Pressure Sensitive Adhesives Market Overview, Leading Players and Forecast Report

NEW YORK - June 2, 2021 - PRLog -- With the expansion of the global e-commerce industry, on account of the surging popularity of online shopping and the increasing disposable income of people, the demand for pressure sensitive adhesives is growing rapidly across the world. This is because the soaring popularity of online shopping is causing a sharp rise in the demand for packaging, especially the ones based on paper board, which is, in turn, pushing up the requirement for pressure sensitive adhesives.

Apart from the aforementioned factor, the rapid growth of the global online grocery industry is also positively impacting the sales of pressure sensitive adhesives around the world. Furthermore, the increasing number of construction and infrastructural development activities and the expansion of various industries such as electronics, fast moving consumer goods, and construction, especially in the developing nations such as India, Brazil, and China are also creating lucrative growth opportunities for the pressure sensitive adhesive producing companies all over the world.

For example, the opening of a new manufacturing facility of Bostik India Private Limited, which is a specialty adhesives business line of Arkema Group, in Gujarat, India, in December 2017 considerably boosted the demand for pressure sensitive adhesives in the country. Due to these factors, the global pressure sensitive adhesives market is exhibiting huge expansion. As a result, the value of the market is predicted to rise from $7,414.0 million in 2018 to $9,351.8 million by 2024.

Geographically, the Asia-Pacific pressure sensitive adhesives market (https://www.psmarketresearch.com/market-analysis/pressure...) held the largest share during the historical period (2014–2018), and it will continue its dominance during the forecast period. This can be attributed to the growth in the packaging, automotive, construction, healthcare, and electrical and electronics industries. All these sectors require pressure-sensitive adhesives for the manufacturing of tapes, graphical films, labels, floor tiles, and wall coverings. Among APAC nations, China and India are consuming a large volume of these adhesives owing to the increasing sale of FMCGs.

Thus, the expansion of the e-commerce sector and strategic developments by chemical companies will propel the market growth in the foreseeable future.