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The market analyst at Technavio predicts that the global pressure-sensitive adhesives market will grow steadily during the forecast period and estimates that it will post a moderate CAGR of approximately 7% by 2020. Increasing population will create a high demand for food and will be one of the key drivers spurring the prospects for growth in this market. At present, it has been observed that changes in urban lifestyle have promoted the usage of packaged food all around the world. The recent increase in household income will boost the industry due to the expected growth in the advanced flexible packing of products like fish, meat, poultry, snacks, and pet food. Furthermore, the use of microwavable pouches and peel-off lids as flexible packaging products will gain popularity due to changing consumer lifestyles. With the rising demand for convenient, flexible packaging solutions, customers will be looking for easy to open, higher quality, and lightweight packing materials. The analyst predicts the demand for pressure-sensitive adhesives to grow steadily during the predicted period owing to its extensive use in food and convenience packaging.
Market analysts predict that the APAC region will grow steadily and post a moderate CAGR of around 7% by 2020. The APAC’s pressure-sensitive adhesives market will account for almost half of the total global demand due to its extensive use in a number of end-user industries like construction, packaging, furniture, automotive, and leather. Countries like India, China, Japan in the APAC region will be investing in technical R&D and infrastructure development to augment their hold over the global market. In addition, increasing assistance from the government will also help the APAC region to dominate the market during the forecast period.
Established vendors are dominating the market by expanding their reach in many geographical locations and product portfolios to meet end-users’ demand. These vendors are also investing in research activities to maintain pace with the continually changing landscape of the industry. Major sellers are collaborating to produce eco-friendly, versatile, and low-cost products, and are also adhering to government policies to stay competitive in the market.
Key vendors in the market are -
Other prominent vendors in the market are Avery Dennison Corporation, Dow Corning Corporation, Huntsman International LLC Company, Illinois Tool Works, Franklin International, Mapei SpA, Royal Adhesives & Sealants, and Wacker Chemie.
During 2015, ethylene vinyl acetate (EVA) dominated the market by accounting for around 30% of the total market share. The major factor contributing to the growth of EVA is its ease of application for the purpose of joining crafts and other delicate products. EVA formulations contain medium fast setting and open time, which is widely utilized for folding cartons, corrugated and wrap around boxes, paper bags, and trays.
The analysts estimate that water-based technology in the pressure-sensitive adhesives markets will grow steadily and post a moderate CAGR of around 7% by 2020. The major factors for the growth of water-based formulations segment are escalating environmental concerns and superior performances. This solution will be useful in installing carpets and insulations due to their molecular weight and ability to dissolve in water.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by polymer type
PART 07: Market segmentation by technology
PART 08: Market segmentation by end-use
PART 09: Geographical segmentation
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 17: Appendix
PART 18: Explore Technavio
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