According to new Fact.MR research, the pressure-sensitive adhesives market is estimated to grow at a CAGR of more than 6% to reach US$ 93 Bn across the 2021-2031 forecast period. In the short-run, the market is expected to reach US$ 78 Bn by 2026. Rising demand for inexpensive flexible packaging has majorly sustained demand.
Historically, from 2016 to 2020, sales of pressure sensitive adhesives expanded at above 3% CAGR, clocking more than US$ 51 Bn. The industry received strong tailwinds amidst COVID-19- as burgeoning e-commerce operations due to stringent restrictions stimulated demand for safe, secure and flexible packaging solutions- particularly across the food & beverage and pharmaceutical industries.
According to Fact.MR, market demand for pressure sensitive additives will receive further stimulus- most notably from the automotive and packaging industries respectively. Consequently, a flurry of innovative product launches and collaborations with prominent players are on the cards- providing an opportunity for further revenue expansion.
Rapid technological advancements in the global packaging industry is prompting increased uptake of lightweight and flexible solutions, widening prospects for pressure sensitive adhesives, says a Fact.MR analyst.
Leading manufacturers are forming alliances to create low-cost, flexible, and environmentally friendly goods while complying with government regulations to remain competitive in the market. Some notable developments are:
Fact.MR, in its new report, offers an unbiased analysis of the global pressure sensitive additives market, analyzing historical demand from 2016-2020 and forecast statistics for 20212031.
The study reveals growth projections on the pressure sensitive additives market on the basis of resin type (acrylic, rubber and other product types), backing material (polypropylene, paper, polyvinyl chloride and other backing materials) and application (tapes, labels, hygiene, graphic films, medical and other applications) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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