The pressure-sensitive adhesive (PSA) market is projected to grow at a compound annual growth rate (CAGR) of 6.22%, from an estimated 50.12 billion in 2017 to 67.76 billion in 2022, according to a report by MarketsandMarkets.
The demand for PSA tapes is reportedly high in end-use industries such as medical and healthcare, packaging, electrical and electronics, transportation, and construction due to their ease of use and wide availability. Acrylic was reported as the highest used resin type for PSA tapes across the globe. Growth in various end-use industries, especially in the Asia Pacific, is driving the global PSA tapes market.
Among regions, Asia Pacific is expected to be the fastest-growing pressure sensitive adhesive tapes market. In this region, PSA tapes are finding applications in various end-use industries, such as medical and healthcare, packaging, electrical and electronics, transportation, construction, and others. This high growth is mainly attributed to high-growth economies such as China, India, Taiwan, and other smaller countries, such as Indonesia, Vietnam, and Malaysia. China was reported as leading the market in terms of the demand for PSA tapes in Asia Pacific.
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