“Pressure sensitive adhesives (PSA) are non-metallic materials used to bond different materials, mainly on their surface, through adhesion and cohesion. Water, or heat is not required to apply the adhesive. The adhesives occupy the largest market share in the adhesives business. They are either permanent or removable and can match with a variety of substrates. The major materials used in formulating pressure sensitive adhesives are acrylics, silicone, and rubber. Other formulations include polyurethane, vinyl acetate, epoxy, SBS, and so on. In terms of end-use applications, the major markets for PSA are tapes and labels, while graphics holds a small amount of market share.
Asia-Pacific dominates the PSA market in terms of volume which is expected to continue till 2020. China is the key market in the region, demanding more than half of the total water- based resins, followed by Japan where it is growing steadily. Asia-Pacific countries do not have strict laws and regulations with regards to VOC emissions, and as a result, solvent-based technologies are also growing in these markets. The demand for commodities and appliances in this region is huge and this is the key driving factor for the PSA market in applications such as tapes, labels, graphics, and so onetc. The automobile industry continues to grow fast in Asia-Pacific markets, such as China and India, which leverages the demand of tapes for automobile applications.
Label is one of the major applications of the water based reins market. Labels find wide applications in medical, food packaging, commodities, general purpose products, pharmaceuticals, cosmetics, and so on. Avery Dennison is the market leader for PSA labels business. Labels for beverage packaging are another huge end-user market and the demand is growing in double digits.
This study estimates the market value for PSA and projects the same by 2020. As a part of quantitative analysis, the study segments the market by technology used for the manufacturing of PSA, and applications at country level with the current market estimation and forecast till 2020. The countries covered in the report are China, Japan, India, South Korea, Brazil, Germany, the U.K., France, Italy, U.S., Canada, and Mexico. The segmentation by technology includes water based, solvent based, hot melt, and radiation. The segmentation by applications includes industrial tapes, specialty tapes, medical tapes, labels, graphics, and others. Furthermore as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, burning issues, challenges, and key issues in the market. It also includes the company profiling and competitive strategies adopted by different market players, including 3M (U.S.), Avery Dennison (U.S.), Ashland Inc. (U.S.), H.B. Fuller Co. (U.S.), The Dow Chemical Company (U.S.), Henkel Ag (Germany), Dow Corning (U.S.), Collano Adhesives AG (Switzerland), Novamelt (U.S.), and Bostika S.A.(France).
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“TABLE OF CONTENTS
1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKET SCOPE 15
1.3.1 MARKETS COVERED 15
1.3.2 YEARS CONSIDERED IN THIS REPORT 15
1.3.3 CURRENCY 16
1.3.4 PACKAGE SIZE 16
1.4 LIMITATIONS 16
1.5 STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 MARKET SIZE ESTIMATION 18
2.2 MARKET BREAKDOWN & DATA TRIANGULATION 21
2.3 MARKET SHARE ESTIMATION 23
2.4 ASSUMPTIONS 24
3 EXECUTIVE SUMMARY 25
4 PREMIUM INSIGHTS 28
4.1 ATTRACTIVE OPPORTUNITIES IN THE PSA MARKET 28
4.2 KEY END-USE INDUSTRY SEGMENTS 29
4.3 PSA MARKET IN NORTH AMERICA 30
4.4 LEADING COUNTRIES IN THE PSA MARKET, 2014 31
4.5 PSA MARKET: DEVELOPED VS. DEVELOPING NATIONS 32
4.6 PSA MARKET, BY APPLICATION, 2014 33
4.7 LIFECYCLE ANALYSIS, BY REGION 34
5 MARKET OVERVIEW 35
5.1 INTRODUCTION 36
5.2 MARKET SEGMENTATION 36
5.3 MARKET DYNAMICS 37
5.3.1 DRIVERS 38
5.3.1.1 New Applications in Diverse Industries 38
5.3.1.2 Increase in demand in Asia-Pacific 38
5.3.1.3 Wide acceptance due to ease of adaptability 39
5.3.1.4 Emerging trend of bio-based adhesives 39
5.3.2 RESTRAINTS 39
5.3.2.1 Rising raw material prices 39
5.3.3 OPPORTUNITIES 40
5.3.3.1 Development of VOC-free sustainable products 40
5.4 CHALLENGES 40
5.4.1.1 Stringent regulations reshaping the PSA market 40
5.5 WINNING IMPERATIVES 41
5.5.1.1 Focus on growth and consolidation 41
5.5.1.2 Innovative product development to meet need for varied bonding performance 41
5.5.1.3 Increasing consumer awareness 42
6 INDUSTRY TRENDS 43
6.1 INTRODUCTION 43
6.2 VALUE-CHAIN ANALYSIS 43
6.3 PORTER’S FIVE FORCES ANALYSIS 45
6.3.1 THREAT OF NEW ENTRANTS 45
6.3.2 THREAT OF SUBSTITUTES 46
6.3.3 BARGAINING POWER OF SUPPLIERS 46
6.3.4 BARGAINING POWER OF BUYERS 47
6.3.5 INTENSITY OF COMPETITIVE RIVALRY 47
6.4 RAW MATERIAL ANALYSIS 48
6.5 REGULATIONS 48
7 PSA MARKET, BY TECHNOLOGY 49
7.1 INTRODUCTION 50
7.2 DIFFERENT TECHNOLOGIES USED FOR THE PRODUCTION OF PSA 50
7.3 WATER-BASED PSA 51
7.4 SOLVENT-BASED PSA 52
7.5 HOT MELT PSA 54
7.6 RADIATION PSA 55
8 PSA MARKET, BY APPLICATION 58
8.1 INTRODUCTION 59
8.1.1 INDUSTRIAL TAPES 60
8.1.2 SPECIALTY TAPES 62
8.1.3 MEDICAL TAPES 65
8.1.4 LABELS 66
8.1.5 GRAPHICS 68
8.1.6 OTHERS 69
9 PSA MARKET, BY REGION 71
9.1 INTRODUCTION 72
9.2 ASIA-PACIFIC 74
9.2.1 CHINA 79
9.2.2 JAPAN 81
9.2.3 INDIA 83
9.2.4 SOUTH KOREA 85
9.3 NORTH AMERICA 88
9.3.1 U.S. 92
9.3.2 CANADA 94
9.3.3 MEXICO 96
9.4 EUROPE 98
9.4.1 GERMANY 101
9.4.2 FRANCE 103
9.4.3 U.K. 105
9.4.4 ITALY 107
9.5 ROW 109
9.5.1 BRAZIL 112
10 COMPETITIVE LANDSCAPE 114
10.1 OVERVIEW 114
10.2 COMPETITIVE SITUATIONS & TRENDS 115
10.3 KEY GROWTH STRATEGIES IN THE PSA MARKET, 2012–2015 116
10.4 NEW PRODUCT/SERVICE/TECHNOLOGY LAUNCHES 117
10.5 PARTNERSHIPS, AGREEMENTS, JOINT VENTURES, AND COLLABORATIONS 119
10.6 EXPANSIONS 120
11 COMPANY PROFILES 122
(Overview, Financial*, Products & Services, Strategy, and Developments)
11.1 INTRODUCTION 122
11.2 3M 123
11.3 AVERY DENNISON 126
11.4 ASHLAND INC. 129
11.5 H.B. FULLER CO. 132
11.6 THE DOW CHEMICAL COMPANY 135
11.7 HENKEL AG & COMPANY KGAA 137
11.8 DOW CORNING 139
11.9 COLLANO ADHESIVES AG 140
11.10 NOVAMELT AMERICAS LLC 142
11.11 BOSTIK SA 144
*Details might not be captured in case of unlisted companies
12 APPENDIX 146
12.1 INSIGHTS OF INDUSTRY EXPERTS 146
12.2 DISCUSSION GUIDE 147
12.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 150
12.4 AVAILABLE CUSTOMIZATIONS 151
12.5 RELATED REPORTS 152
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“LIST OF FIGURES
FIGURE 1 PSA MARKET SEGMENTATION 15
FIGURE 2 PSA: RESEARCH METHODOLOGY 17
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 19
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 20
FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION & REGION 21
FIGURE 6 DATA TRIANGULATION 22
FIGURE 7 WATER-BASED PSA SEGMENT IS PROJECTED TO GROW AT THE HIGHEST RATE 25
FIGURE 8 LABELS: THE LARGEST SEGMENT BY APPLICATION FOR PSA 26
FIGURE 9 ASIA-PACIFIC AND NORTH AMERICA ARE THE KEY CONTRIBUTORS FOR GLOBAL PSA MARKET (2014) 27
FIGURE 10 PSA MARKET TO GROW, BY VALUE, BETWEEN 2015 & 2020 28
FIGURE 11 LABELS: THE MAJOR APPLICATION SEGMENT 29
FIGURE 12 WATER-BASED PSA ACCOUNTED FOR THE MAXIMUM SHARE IN THE NORTH AMERICAN MARKET IN 2014 30
FIGURE 13 CHINA: HIGHEST GROWTH EXPECTED 31
FIGURE 14 CHINA IS THE FASTEST-GROWING MARKET, 2015–2020 32
FIGURE 15 LABELS SEGMENT TO DOMINATE THE MAREKT FOR THE NEXT FIVE YEARS
(2015–2020) 33
FIGURE 16 MARKET IN EUROPE IS ABOUT TO ENTER THE DECLINING PHASE 34
FIGURE 17 PSA MARKET, BY TECHNOLOGY 36
FIGURE 18 PSA MARKET, BY APPLICATION 36
FIGURE 19 PSA MARKET, BY REGION 37
FIGURE 20 INNOVATIVE APPLICATIONS AND INCREASING DEMAND IN ASIA-PACIFIC: MAJOR DRIVERS FOR THE GROWTH OF PSA 37
FIGURE 21 VALUE-CHAIN ANALYSIS : MAJOR VALUE IS ADDED DURING MANUFACTURING PHASE 44
FIGURE 22 PORTER’S FIVE FORCES ANALYSIS 45
FIGURE 23 WATER-BASED PSA – LARGEST MARKET SHARE, WITH A CAGR OF 4.83% BETWEEN 2015 & 2020 50
FIGURE 24 ASIA-PACIFIC AT THE FOREFRONT IN TERMS OF CONSUMPTION OF
WATER-BASED PSA 51
FIGURE 25 ASIA-PACIFIC –FASTEST-GROWING MARKET FOR SOLVENT-BASED PSA 53
FIGURE 26 ASIA-PACIFC –FASTEST-GROWING MARKET, 2015 VS. 2020 54
FIGURE 27 ASIA-PACIFC – THE LARGEST AND FASTEST-GROWING MARKET BY VOLUME, 2015 VS. 2020 56
FIGURE 28 SPECIALTY TAPE TO GROW RAPIDLY DURING THE FORECAST PERIOD 59
FIGURE 29 ASIA-PACIFIC IS THE FASTEST-GROWING MARKET FOR PSA IN THE INDUSTRIAL TAPE APPLICATION 61
FIGURE 30 ASIA-PACIFIC TO LEAD THE MARKET FOR SPECIALTY TAPES DURING THE FORECAST PERIOD 62
FIGURE 31 ASIA-PACIFIC: THE LARGEST MARKET FOR PSA IN MEDICAL TAPES, 2015-2020 65
FIGURE 32 ASIA-PACIFIC: THE LARGEST MARKET FOR PSA FOR LABELS APPLICATION,
2015–2020 66
FIGURE 33 ASIA-PACIFIC TO BE THE MARKET LEADER OF PSA IN GRAPHICS APPLICATION, 2015–2020 68
FIGURE 34 ASIA-PACIFIC TO REMAIN THE LARGEST MARKET FOR OTHER APPLICATIONS
OF PSA 69
FIGURE 35 REGIONAL SNAPSHOT–RAPID GROWTH MARKETS ARE EMERGING AS NEW DESTINATIONS 72
FIGURE 36 ASIA-PACIFIC WAS THE LARGEST MARKET FOR PSA IN 2014, FOLLOWED
BY NORTH AMERICA 73
FIGURE 37 ASIA-PACIFIC: CHINA IS THE LARGEST REGIONAL PSA MARKET 75
FIGURE 38 INDUSTRIAL TAPES, LABELS, AND GRAPHICS: THE MAJOR APPLICATIONS
IN ASIA-PACIFIC 77
FIGURE 39 NORTH AMERICA: U.S. ACCOUNTED FOR THE LARGEST PSA MARKET 88
FIGURE 40 LABELS APPLICATION DOMINATED THE PSA MARKET IN THE U.S. 92
FIGURE 41 COMPANIES ADOPTED NEW PRODUCT/SERVICE/TECHNOLOGY LAUNCHES AS THE KEY GROWTH STRATEGIES 114
FIGURE 42 REVENUE OF TOP 5 KEY PLAYERS FOR PSA MARKET 115
FIGURE 43 ANNUAL MARKET DEVELOPMENTS MATRIX: MAXIMUM NUMBER OF DEVELOPMENTS IN 2013 116
FIGURE 44 BATTLE FOR MARKET SHARE – NEW PRODUCT/SERVICE/TECHNOLOGY LAUNCHES WAS THE KEY STRATEGY 116
FIGURE 45 3M, AVERY DENNISON, ASHLAND INC., H.B. FULLER, AND THE DOW CHEMICAL COMPANY: MAJOR PRODUCERS OF PSA 122
FIGURE 46 3M: COMPANY SNAPSHOT 123
FIGURE 47 3M: SWOT ANALYSIS 125
FIGURE 48 AVERY DENNISON: COMPANY SNAPSHOT 126
FIGURE 49 AVERY DENNISON: SWOT ANALYSIS 128
FIGURE 50 ASHLAND INC.: COMPANY SNAPSHOT 129
FIGURE 51 ASHLAND INC.: SWOT ANALYSIS 131
FIGURE 52 H.B. FULLER CO.: COMPANY SNAPSHOT 132
FIGURE 53 H.B. FULLER CO.: SWOT ANALYSIS 134
FIGURE 54 THE DOW CHEMICAL COMPANY: COMPANY SNAPSHOT 135
FIGURE 55 THE DOW CHEMICAL COMPANY: SWOT ANALYSIS 136
FIGURE 56 HENKEL AG & COMPANY KGAA: COMPANY SNAPSHOT 137
FIGURE 57 DOW CORNING: COMPANY SNAPSHOT 139
FIGURE 58 COLLANO ADHESIVES AG: COMPANY SNAPSHOT 140
FIGURE 59 NOVAMELT: COMPANY SNAPSHOT 142
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