Report Forecasts Growth in Market for Pressure-Sensitive Adhesives
SHELBYVILLE, DE — According to a study by Global Market Insights Inc., the pressure-sensitive adhesives market is set to grow from its current market value of more than $6 billion to over $9.5 billion by 2024.
Growth in the pressure-sensitive adhesives market will most likely be due to the developments in pressure-sensitive adhesive tape technologies. Innovations in these technologies have enabled manufacturers to offer notable performance and assembly-related features, including the capacity to resist high temperatures and severe environments, and to bond firmly with different substrates and materials. They also provide an economical option to cut down the total cost involved in assembly, and reduce time-consuming activities and the need for cumbersome equipment. Pressure-sensitive adhesives are also being used in the automotive sector because of their high-temperature characteristics and robust resistance to harsh substances and materials. They are used as a substitute for mechanical fasteners and automobile attachments, removing holes that could allow moisture or fluids to enter and lead to rust.