How Does Commerce Industry Impacts Sales of Pressure Sensitive Adhesives?
The pressure-sensitive adhesive market is predicted to rise in the near future. APAC reflects the highest sales of pressure-sensitive adhesives referring to both volume and value, over the last few years, ascribed to the expansion of the packaging and other relevant industries, such as healthcare, construction, automotive, electrical, and electronics. In addition, these adhesives are highly demanded in industries that manufacture wall coverings, floor tiles, tapes, graphical films, and labels.
Over the recent years, numerous players in the industry have announced various activities that fuel their growth such as facility expansion and product launches, ascribed to the rise in end use industries, which creates business opportunities for them. For instance, BASG SE announced to double the production capacity for UV acrylic hotmelts and sells the acResin brand in 2019. Moreover, several SMEs announced merging or acquiring other companies to improve their position in the industry and improve their product portfolio.
The primary driver of the pressure-sensitive adhesives market is the commerce industry, led by the rising purchasing power of the people and shift in their preferences. It resulted in increased demand for packaging, more specifically paperboard packaging that fuels the requirement of cartons, and causes massive consumption of pressure-sensitive adhesives.
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Emerging economies, such as Brazil, China, and India hold massive potential for industry players to expand their operations, led by the rise in the construction, fast-moving consumer goods, electronics, and other end-use industries, with escalating production of pressure-sensitive adhesives to cater to the demand in these countries. In addition, numerous industry players are establishing their facilities in these countries to cater to the growing requirements.
Under the formulation segment, the silicone category is projected to generate the highest sales of pressure-sensitive adhesives in the coming years, led by the advancement of the healthcare and hygiene product industries. The silicon-based adhesives are massively consumed in numerous hygiene and healthcare products such as sanitary napkins, medical tapes, and baby diapers.
Under the application segment, the tapes are expected to dominate the industry in the coming years, attributed to the high usage of pressure-sensitive tapes in electronics, packaging, construction, automobiles, and various other applications that boost the demand, resulting in the expansion of pressure sensitive adhesives industry.
APAC is expected to hold a significant position in terms of revenue generation in the industry in the coming years, attributed to the rise in the packaging, automotive, construction, and electronics sector in the region. South Korea, Japan, and China have worldwide dominance in terms of electronics manufacturing, while both India and China are the next-significant global consumers. In addition, China holds over 55% share of the regional pressure-sensitive adhesives industry of the APAC and is projected to retain its position in the near future.
Therefore, the expansion of the electronics, construction, packaging, and automotive sector boosts the consumption of pressure-sensitive adhesives.
