Pressure Sensitive Adhesives Market Key Drivers & On-going Trends 2017-2026
[170 Pages Report] Pressure Sensitive Adhesives Market research report categorizes the global market by Resin Type (Acrylic, Rubber, Other Product Types), by Backing Material (Polypropylene, Paper, Polyvinyl Chloride, Other Backing Materials), By Application (Tapes, Labels, Hygiene, Graphic Films, Medical, Other Applications), & By Region (North America, Latin America, Europe, Japan, APEJ, MEA).
[UKPRwire, Wed Sep 18 2019]
A new Fact.MR research report has slated that the global market for pressure sensitive adhesives to record a steady 4.9% CAGR, in terms of volume, over the forecast period (2017-2026). Pressure sensitive adhesives sales across the globe are estimated to exceed US$ 71,000 Mn in revenues by 2026-end.
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Rapid population expansion worldwide has led to a robust demand for food, which in turn has provided an impetus to the food packaging industry. Currently, it has been witnessed that changes in the urban lifestyle have prompted use of packaged food across the globe. In addition, recent rise in the household income has boosted packaging industry, on account of expected demand for advanced flexible packaging of products such as snacks, poultry, meat, fish, and pet food.
Utilization of peel-off lids and microwavable pouches as flexible packaging products are likely to gain momentum owing to changing consumer lifestyles. With rising demand for flexible and convenient packaging solutions, customers are continuously seeking easy to open, lightweight and high quality packing materials. Pressure sensitive adhesives have been deemed to be the most appropriate for such uses and therefore will gain a tremendous surge in demand in the foreseeable future.
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Well-established vendors in the global pressure sensitive adhesives market are focusing on extending their market presence across several regional locations across the globe. These vendors are also focusing on enhancing their product portfolios for meeting rising end-user demands. Few vendors in the global pressure sensitive adhesives market are making enormous investments in research & development activities in a bid to sustain in the constantly changing landscape of the market. Leading manufacturers are entering into collaborations for producing low-cost, versatile, and eco-friendly products, meanwhile adhering to government norms for staying competitive in the market.
Product innovation will continue to be the most widely adopted development strategy among companies in the global pressure sensitive adhesives market. Key players in the market have been concentrating on establishment of their already existing products coupled with the development of new, competitive and innovative products. Leading players in the market are also focusing on acquiring smaller players to increase their product portfolio and expand their market reach. Key market participants that the Fact.MR’s report has profiled include Scapa Group PLC, Exxon Mobil Corporation, Lohmann GmbH & Co.KG, BASF SE, LINTEC Corporation, Nitto Denko Corporation, Tesa SE, and 3M Company.
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