Rubber-based Pressure Sensitive Adhesive Market Overview
Rubber-based
pressure sensitive adhesives market size is forecast to reach $3.1 billion by
2026, after growing at a CAGR of 4.7% during 2021-2026. Rubber is the most cost-effective
pressure sensitive adhesive and offers quick stick capability. The synthetic
rubber based PSA is unique owing to its flexible property, the impact it takes,
and resistance to the chemical. The need for cost-effective and flexible
medical tools and product innovation is driving the rubber based pressure
sensitive adhesives market.
The automotive and construction industry sector
uses rubber based pressure sensitive adhesives in large quantities as it has
many beneficial properties is another key driver driving the market growth. Availability
of other types of pressure sensitive adhesives such as vinyl acetates, organic
rubber, ethylene vinyl acetate, polyurethane, and others may also pose a
significant challenge for the rubber-based pressure sensitive adhesive industry
during the forecast period.
Rubber-based
Pressure Sensitive Adhesive Market COVID-19 Impact
The outbreak of
COVID-19 had a huge impact on the automotive industry. Automotive production
was disruptively and halted as the demand gradually shrank, contributing to a major
loss in the automotive. For instance, according to the European Association of
Automobile Manufacturers, demand for new commercial vehicles across the EU
remained low in June 2020 (-20.3%), although the rate of decline slowed
compared to April and May.
Double-digit percentage decreases were recorded last
month by three of the four largest markets in the region: Germany (-30.5
percent), Spain (-24.2 percent), and Italy (-12.8 percent), while France
recorded a modest increase (+2.2 percent). With the decrease in automotive
production, the demand for rubber-based pressure sensitive adhesive
significantly decreased, which had a huge major impact on the rubber-based
pressure sensitive adhesive market.
Report Coverage
The report: “Rubber-based Pressure Sensitive Adhesive Market
– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the
following segments of the rubber-based pressure sensitive adhesive Industry.
By Type: Natural Rubber
Based Pressure Sensitive Adhesives, and Synthetic Rubber Based Pressure
Sensitive Adhesives.
By Technology: Water-Based,
Solvent-Based, Hot-Melt, and Radiation Cured.
By Application: Tapes,
Labels, Graphics, and Others.
By End-Use Industry: Automotive
(Passenger Cars, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles
(HCV)), Building & Construction (Residential, Commercial, Industrial, and
Infrastructural), Electrical & Electronics, Medical & Healthcare (Wound
Dressings, Bandages, Medical Tapes, and Others), and
Paper, Board, and Packaging, and Others. By Geography: North
America (U.S., Canada, and Mexico), Europe (U.K, Germany, France, Italy,
Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China,
Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan,
Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile,
and Rest of South America), Rest of the World (Middle East, and Africa).
Key Takeaways
- Asia-Pacific dominates the rubber-based
pressure sensitive adhesive market. The rising demand for rubber-based
pressure sensitive adhesive can be attributed to the flourishing automotive,
construction, and medical sector in the region.
- Availability of other types of
pressure sensitive adhesives such as vinyl acetates, organic rubber, ethylene
vinyl acetate, polyurethane, and more may restrain the market growth during the
forecast period.
In the medical sector, rubber
based PSA is extensively used as a Skin adhesive in terms of medical tapes to
cover wounds, dressings, or wearable sensors, positively impacting the market
growth.
Figure: Asia-Pacific Rubber-based Pressure Sensitive Adhesive Market Revenue, 2020-2026 (US$ Billion)
Rubber-based
Pressure Sensitive Adhesive Market Segment Analysis - By Type
The natural
rubber based pressure sensitive adhesives segment held the largest share of
more than 55% in the rubber-based pressure sensitive adhesive market in 2020. Natural
rubber-based pressure-sensitive adhesives contain natural rubber (NR) and a
tackifying resin. Their advantages include good initial adhesion properties and
high peel strength, temporary or permanent fastening for a range of substrates,
high green strength for fastening that starts with the first contact, and lower
costs, including support for inexpensive backing tapes.
Natural rubber PSAs are
typically used for indoor applications with lower surface energy substrates
owing to these properties. They’re also suitable for applications where the
adhesive is subjected to low shear stress. Thus, these extensive properties
associated with natural rubber based pressure sensitive adhesives are the major
factor driving its demand.
Rubber-based
Pressure Sensitive Adhesive Market Segment Analysis - By Technology
The water-based
segment held the largest share of more than 45% in the rubber-based pressure
sensitive adhesive market in 2020 up to 3.5% during 2021-2026. It's attributed
to their exceptional properties including cohesive strength, wide-range peel,
exceptional clarity in dry films, excellent leveling and flow, and low-temperature
adhesion. Removable protective films, paper labels and film, and over laminate
films all use water-based rubber-sensitive adhesives.
Major European and
American countries have abandoned solvent-based adhesives in favor of
water-based adhesives, boosting the demand for water-based rubber pressure
sensitive adhesives in the years ahead.
Rubber-based
Pressure Sensitive Adhesive Market Segment Analysis - By Application
The tape segment
held the largest share of more than 40% in the rubber-based pressure sensitive
adhesive market in 2020. Pressure Sensitive Adhesive Tape (also referred to as
PSA, self-adhesive, or self-stick adhesive) is a thin, flexible adhesive tape
with a single or double-sided coating. These tapes minimize manufacturing time,
remove the need for a surface refinishing, and provide uniform thickness and
gap filling properties, as well as vibration dampening and noise reduction.
PSA
tapes are used in a wide range of applications, with new ones being found on a
nearly daily basis. Because of advancements in adhesive technology, ease of
use, and low cost compared to conventional fastening systems, PSA tape will
continue to increase in popularity as a fastening and joining solution.
Rubber-based
Pressure Sensitive Adhesive Market Segment Analysis - By End-Use Industry
The automotive segment
held the largest share in the rubber-based pressure sensitive adhesive market
in 2020 and is growing at a CAGR of 6.3% during 2021-2026, owing to the
increasing demand for rubber-based pressure sensitive adhesive in the
automotive sectors. The rubber-based pressure sensitive adhesive is used in
automotive applications where strength, heat, or moisture resistance is
required (close-up application of heated mirror).
They provide aggressive and
instantaneous tack at short contact times, adhere well to various substrates,
are of low cost, and are generally considered of low toxicity, owing to which
these are extensively utilized in the automotive industry. The rubber-based
pressure sensitive adhesive tapes are used on the vehicle body, under the bonnet,
and exterior & interior trim of the vehicle. In the coming years,
increasing the use of tapes and labels in lightweight vehicle production and
lowering fuel consumption would boost product demand.
Rubber-based
Pressure Sensitive Adhesive Market Segment Analysis - By Geography
Asia-Pacific region
held the largest share in the rubber-based pressure sensitive adhesive market in
2020 up to 45%, owing to the escalating demand for rubber-based pressure
sensitive adhesives from the automotive industries in Asia-Pacific countries. The
automotive industry in Asia-Pacific is growing at the fastest rate, with China,
Japan, and India leading the way. The rising demand for rubber-based pressure
sensitive adhesive market from the automotive industries due to its low cost
would propel the industry further.
Governments are launching initiatives to
support the growth of the automotive industry. For instance, the Indian
government launched Automotive Mission Plan 2016-26 (AMP 2026) to boost the
automotive industry in the country. China is the world's largest vehicle
market, according to the International Trade Administration (ITA), and the
Chinese government expects car production to surpass 35 million by 2025.
With
the increasing automotive industry in Asia-Pacific, the demand for rubber-based
pressure sensitive adhesive is also increasing. And with the increasing demand
for rubber-based pressure sensitive adhesive from these automotive industries,
the demand for rubber-based pressure sensitive adhesive is also substantially
rising in Asia-Pacific during the forecast period.
Rubber-based Pressure Sensitive Adhesive Market - Drivers
Increasing Building and Construction Activities
Rubber-based pressure sensitive adhesives are used to manufacture
construction tapes. And these construction tapes are then extensively utilized
in the building and construction industry for bonding & mounting decorative
trims on furniture, bonding components within elevators and escalators, bonding
decorative trims and profile extruders, bonding decorative wall coverings, and
attractive facades, and more.
According to Statistics Poland, developers
completed 64.8% of the total number of dwellings, i.e. by 1.6 percentage points
more than in the previous year (2019) in the period of January-November 2020. Total
residential constructions rose from 28,393 units in 2018 to 33,232 units in
2019 in Denmark, according to official Danish statistics. Singapore’s construction demand is expected to range between S$27
billion and S$34 billion per year for 2021 and 2022, and between S$28 billion
and S$35 billion per year for 2023 and 2024, according to the Building and
Construction Authority (BCA) of Singapore. Thus, increasing building and construction
will require more construction tapes, which will act as a driver for the rubber-based
pressure sensitive adhesives market during the forecast period.
Flourishing Medical Industry
In the medical industry, rubber-based pressure sensitive adhesives
are used in applications such as wound dressings, bandages, medical tapes,
surgical drapes, and more. The increasing incidence of accidents such as road
accidents, burns, and trauma events across the globe is anticipated to drive
the market. For instance, as per the WHO (2018), around 1,000,000 people are
severely or moderately burnt in India per year.
In addition, as per the
National Center for Biotechnology Information (NCBI), in 2017, countries such
as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K. reported
a rise in the incidence of burn wounds. Furthermore, as per the American
Association for the Surgery of Trauma (AAST), in 2017, around 1.2 million
people died globally, accounting for deaths of around 3,242 people per day in road
accidents every year. Wound care and dressing products are, thus,
increasingly being used in the medical industry, which is further driving the
growth of the rubber-based pressure sensitive adhesive market.
Rubber-based
Pressure Sensitive Adhesive Market Challenges
Volatility in Crude Oil Prices
The
petrochemical feedstock is used to make synthetic rubber. Crude oil is the
primary raw material used to make various forms of synthetic rubber. So, the
price fluctuation of crude oils also hinders the price of synthetic rubber raw
materials. According to BP Statistical Review of World Energy, in the recent
year there has been a fluctuation in the price of crude oil, for instance, the
crude oil price decreased from $98.95/bbl in 2014 to $52.39/bbl in 2015 and
increased from $43.73/bbl in 2016 to $71.31/bbl in 2018 and then decreased to
$64.21/bbl in 2019. And because of this uncertainty in crude oil prices, the
price of synthetic rubber's raw materials also increases. Thus, the volatility
in crude oil prices is expected to be a significant challenge for the rubber-based
pressure sensitive adhesive market manufacturers.
Rubber-based Pressure
Sensitive Adhesive Market Landscape
Technology
launches, acquisitions, and R&D activities are key strategies adopted by
players in the rubber-based pressure sensitive adhesive market. Major players
in the rubber-based pressure sensitive adhesive market are 3M, American
Biltrite Inc., Arkema Group, Ashland, Avery Dennison Corporation, Dow Dupont,
Drytac Corporation, H.B. Fuller, Helmitin Adhesive, and Henkel Ag Co. Kgaa.
Acquisitions/Technology
Launches
- In October 2019, Avery Dennison
Performance Tapes introduced an ore series portfolio that specifies a full
detailed extent of adhesive technologies, from general-purpose rubber to
silicone adhesives.
Relevant Reports
Report Code: CMR 0147
Report Code: CMR 67270
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