Market Size of Pressure Sensitive Adhesives (PSA) Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.29 Billion |
| Market Size (2029) | USD 15.25 Billion |
| CAGR (2024 - 2029) | 6.21 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pressure Sensitive Adhesives Market Analysis
The Pressure Sensitive Adhesives Market size is estimated at USD 11.29 billion in 2024, and is expected to reach USD 15.25 billion by 2029, growing at a CAGR of 6.21% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- The major factor driving the market studied is the increasing development of low-cost, flexible packaging and increasing usage of pressure-sensitive adhesives because of lesser curing time.
- On the flip side, stringent environmental regulations regarding VOC emissions and increasing usage of substitutes like UV-cured adhesives are expected to hinder the studied market's growth.
- The tapes segment dominated the market and is expected to grow during the forecast period. It is owing to the growing end-user industries, such as packaging, medical, and transportation.
- Adopting bio-based pressure-sensitive adhesives and developing nanotechnology-based functional pressure-sensitive adhesives is likely an opportunity in the future.
- Asia-Pacific dominated the global market, with the largest consumption from countries such as China and India.
