Albany, NY, April 3, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Pressure Sensitive Adhesives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019," the global pressure sensitive adhesives market was valued at USD 5.58 billion in 2012 and is expected to reach USD 7.96 billion by 2019, growing at a CAGR of 5.2% over the forecast period from 2013 to 2019. The global pressure sensitive adhesives market volume was 2,421.1 kilo tons in 2012.
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The industry is expected to expand at a rapid pace due to the increasing application of pressure sensitive adhesives in electronics, automotive, and packaging materials. Increased adoption of RFID labels for better inventory management, miniaturization of electronic devices, increasing demand for light weight and low emission automotives, and low cost, flexible packaging materials are some of the factors expected to be major drivers for the pressure sensitive adhesives market in the years to come.
Pressure sensitive adhesives can be classified based on product types into four segments - water-based, solvent-based, hot melt, and radiation cured. Water-based pressure sensitive adhesives were the dominant segment with 41.1% of the global demand in 2012. Solvent-based pressure sensitive adhesives were the second largest product segment; however, they are expected to lose market share due to regulations against VOC emissions from these products. Hot melt pressure sensitive adhesives and radiation cured pressure sensitive adhesives accounted for the remaining quarter of the volume in 2012.
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Key end-use applications for pressure sensitive adhesives include tapes, labels, graphics, specialty, and others including notepads, automotive trims and dental adhesives. Globally, tapes are the largest end-use application segment of pressure sensitive adhesives in terms of volume demand. Tapes accounted for 43.7% of the global volume in 2012. Labels are expected to be the fastest growing end-use application segment growing at a CAGR of 5.1% over the forecast period from 2013 to 2019.
The global pressure sensitive adhesives market was dominated by Asia Pacific in 2012. The market is expected to witness robust growth in Asia Pacific due to the growing demand for pressure sensitive adhesives from electronics and automotive industries in this region. North America was the second largest market for pressure sensitive adhesives with a market share of 26.4% in terms of volume demand. Europe and Rest of the World together accounted for a quarter of the global market volume in 2012.
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3M Company, HB Fuller, Henkel AG, Avery Dennison, BASF SE, and LG Chem are some of the leading pressure sensitive adhesives suppliers across the world. The top three players accounted for more than 40.5% of the market in terms of revenue.
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The Report Segments the global pressure sensitive adhesives market as:
Pressure Sensitive Adhesives Market - Product Segment Analysis
- Hot melt
- Radiation cured
Pressure Sensitive Adhesives Market - Application Analysis
- Others (Automotive trims, dental adhesives, notepads, etc.)
Pressure Sensitive Adhesives Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World
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Source:Transparency Market Research