Market World Pressure Sensitive Adhesives Market | Page 3

small market share as opposed to tapes and labels is a potential future market owing to a wide range of
applications in cushioning and home décor.
Tapes dominate the market with wide application scope in construction & building, medical, electrical, and
automotive industries. They are used in mounting, HVAC & pipe wrapping, splicing, casketing, sealing, and
masking.
End-use Insights
The dominant end-use segment was packaging accounting for over 25% of the market volume in 2015, owing
to the high use of the product in food packaging industry. The advent of packaging technology coupled with
increased requirement of PSAs flexible materials on account of its attributes including good adhesion at low
temperature is anticipated to fuel market demand.
The extensive use of the product in electronics & electrical industries is on account of its performance
specifications including easy application, strong bond strength, easy application, and transparency coupled with
decreased processing time. The electronic appliances including refrigerators and microwaves together with
membrane switches are likely to have a positive impact on PSA market growth.
The PSAs are widely used as substitutes for mechanical fasteners and liquid epoxies on account of its attributes
including clean application, ease of handling, thickness control, flexibility, consistent bond, and mess-free
processing. The rising need for use of automation, fast prototyping, and quick changeover are anticipated to
fuel market growth in the electrical & electronics segment.
Regional Insights
Asia Pacific contributed to over 45% of the market volume in 2015. The easy availability o funds via personal
loans and EMI coupled with increasing disposable income is expected to drive market growth in the region. The
demand for the product is primarily from the electronic & electrical and automotive industries.
The variation in consumer preferences with regard to convenience and processed food is expected to propel
PSA market demand in Central & South America for the labeling application segment. The emerging economies
including Brazil and Uruguay are undergoing sharp industrial growth together with large investments in
automotive and construction industries.
The stringent regulations regarding VOC emissions together with fuel efficiency norms are likely to result in the
sluggish growth of the product in North America and Europe regions. The regulatory agencies including REACH,