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Pressure Sensitive Adhesives (PSA) is a type of non-reactive adhesive which forms a bond with the substrate when pressure is applied. The special characteristic of these adhesives of not solidifying but retaining its viscosity makes them permanently tacky and suitable for applications. The hassle free application of these adhesives has significantly contributed the increasing demand of PSA.
Increasing demand for PSA from various end use sectors due to the durability and firm application is likely to drive the market. the high demand for acrylic adhesives due to high environmental resistance, resistance to corrosion, heat, temperature, UV radiations, color stability, and water resistance shall foster the market growth.
However, manufacturing of pressure sensitive adhesives involves emission of VOCs which are harmful for human health. This is expected to hinder the market growth.
Key Market Driver -
Increasing demand due to easy adaptability and other exceptional properties.
Key Market Restraint -
Stringent regulations regarding VOC emissions.
Based on technology, the global pressure sensitive adhesives market is segmented into water based, solvent based, hot melt and radiation. Based on application, market is segmented into tapes, labels, graphics, and other applications.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global pressure sensitive adhesives market consists of global & regional players operating. Some of the key players in the market include 3M. Arkema, DuPont, HB Fuller, Henkel AG Avery Dennison, Sika AG and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to hold the largest share in market attributed to high demand from packaging industry. North America is estimated to show significant growth due large manufacturing base for electrical and electronics sector. Europe is expected to show considerable growth attributed to the demand from healthcare and automotive application areas. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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