Why Is APAC Consuming Pressure Sensitive Adhesives In Abundance?

Pressure sensitive adhesives refer to elastomer copolymers or elastomers that are slightly crosslinked and strongly bond with a substrate. These adhesives do not undergo a liquid-to-solid transition to hold substances together. This class of adhesives can be synthetic or solvent-free natural resins having a viscoelastic property named 'tack'. Tack refers to the rapid wetting of a substrate by a polymer to create an adhesive bond during brief contact with the substrate under light pressure. Major advantages of these adhesives are environmental durability and instant bonding.

One of the key growth drivers for the pressure sensitive adhesives market is the flourishing e-commerce sector. The prospering e-commerce industry, on account of the changing customer preferences and mounting purchasing power of people, is creating a huge requirement for packaging materials, especially paper board. This factor will, therefore, drive the market at a CAGR of 4% during 2019–2024. The market revenue stood at $7,414.0 million in 2018 and it is projected to reach $9,351.8 million by 2024.

According to P&S Intelligence, Asia-Pacific (APAC) held the largest share in the pressure sensitive adhesives market during the historical period (2014–2018), and it is expected to maintain this trend throughout the forecast period. This can be primarily attributed to the expanding construction, electronics, packaging, and automotive industries in the region. As China, Japan, and South Korea are the leading manufacturers of electronics in the world and India and China are two of the largest consumers of fast-moving consumer goods (FMCG) products, these countries create a significant demand for packaging materials such as pressure sensitive adhesives.

There, the booming e-commerce sector and surging number of mergers and acquisitions among pressure sensitive adhesive producers will augment the adoption and production of pressure sensitive adhesives in the foreseeable future.

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