Pressure Sensitive Adhesives Market – Overview
The Global Pressure Sensitive Adhesive Market is expected grow substantially and register a healthy CAGR over the forecast period. Some of the protuberant drivers and trends supporting the growth of Global Pressure Sensitive Adhesive Market are identified as, rapid growth in automotive & packaging industry along with growing packaging, electrical & electronics industry and consumer goods industry.
Industry/ Innovation/ Related News:
December 2015 – The subsidiary of Arkema named as Bostik, has increased the production capacities of pressure sensitive adhesive which is of hot melt. The new expansion is done by Bostik in its Mexico site, in Monterry plant. The company has expanded the capacity of pressure sensitive adhesive in line with high growth of the latin America regions. The expansion is expected to significantly increase its ability to serve customers in the healthcare market. The plant of Bostik is expected to significantly increase hot melt pressure sensitive adhesive production capacity in Monterrey and expected to primarily serve the needs of customers.
October 2017 – Arkemas specialty business unit named Bostik has expanded the manufacturing capacities of hot melt pressure sensitive adhesive in new facility in Gujarat. Along with existing plant in Bangalore, the new plant of Bostik in Gujarat is expected to serve the rising growing demand in India for adhesives in industrial markets. As per the announcement, new facility in Gujarat is expected to produce advanced hot melt pressure sensitive adhesives for wide range of industrial applications such as footwear production, transportation and flexible lamination. The company’s expansion strategy is expected to serve the strong demand products in which it is used both in domastic and export markets.
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Pressure Sensitive Adhesives Market – Regional Analysis
Asia Pacific region accounted largest market share in the Global Pressure Sensitive Adhesives Market and expected to dominate during the forecast period due to rising population, automotive and electrical & electronics industry, consumer goods in the region. China being largest consumer, manufacturer and exporter of Pressure Sensitive Adhesives. Chinese adhesive manufacturers are mostly comprises of some of the prominent manufacturers and small manufacturers. Followed by China, India is the second largest Pressure Sensitive Adhesive consumer in Asia Pacific region. Several initiatives taken by Government in the country is expected to support the growth of Pressure Sensitive Adhesive Market in India. One of the initiative among the initiatives taken by government of India is ‘Make in India’. This initiative is expected to fuel growth of pressure sensitive adhesives market in India. In addition to this, approval of the GST bill by Indian government is expected to be another key reform which is expected to lower logistics cost by at least 10% and expected to create a unified market across the India.
Looking at the export and import point of view in the country, launch of single window interface to increase trade flow by government is expected to help exporters and importers so as to file a common integrated declaration. In addition to this, Europe and North America have registered positive growth in Pressure Sensitive Adhesives Market owing to a growing automotive and packaging activities in the region.
The degree of competition among the pressure sensitive adhesive industry players along with market scenario and industry growth are analysed in the report. The Global Pressure Sensitive Adhesives Market is at a growing stage, and represents moderate statistics in terms of market overall value and volume. Over the past few years, Pressure Sensitive Adhesives Market has witnessed healthy demand due to increasing spending capacity of people which has fuelled the automotive sale across the globe. Nevertheless, the degree of competition among the Pressure Sensitive Adhesive manufacturing players is still less due to limited major market players across the world. However, in case of China market for Pressure Sensitive Adhesives is fragmented as a result global manufacturers are moving towards growth expansion by specifically adopting partnership, expansion and joint-venture strategies and product launch strategies in Asia Pacific region to increase their market share.
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