Portland, OR, Sept. 10, 2019 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “South East Asia & Middle East Pressure Sensitive Adhesives Market by Composition (Acrylic, Rubber, Ethylene Vinyl Acetate, Silicone, Polyurethane, and Others), Type (Water-Based, Hot Melt, Solvent Based, and Radiation Based), Application (Labels, Medical, Graphics, Tapes, and Others), and End-Use Industry (Automotive, Packaging, Building and Construction, Electronics, Medical, Consumer Goods, and Others): Opportunity Analysis and Industry Forecast, 2019–2026.” The report provides a detailed analysis of the drivers & opportunities, wavering market trends, competitive market scenario, and market size & estimates. As per the report, South East Asia & Middle East PSA industry was estimated at $1.17 billion in 2018 and is expected to hit $1.89 billion by 2026, registering a CAGR of 6.1% during the study period.
Development of the flexible packaging industry and surge in demand from various end-use industries fuel the growth of South East Asia & Middle East PSA market. On the other hand, fluctuation in the cost of raw materials checks the growth to some extent. However, an increase in demand for bio-based pressure-sensitive adhesives is expected to create multiple opportunities for the key players in the industry.
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The solvent-based segment to lead the trail in terms of revenue-
Based on type, the solvent-based segment accounted for more than one-third of the total South East Asia & Middle East PSA market share in 2018 and is expected to dominate throughout the forecast period. The rise in demand from the automotive industry has acted as the prime growth factor for the segment. The water-based segment, on the other hand, is projected to grow at the fastest CAGR of 7.6% by 2026. This is due to its eco-friendly characteristics such as low volatile organic compounds (VOCs) content.
The acrylic segment held the major share in 2018-
Based on composition, the acrylic segment contributed to nearly one-third of the total South East Asia & Middle East PSA market revenue in 2018 and is anticipated to rule the roost till 2026. This is due to the rise in demand for hot melt acrylic-based pressure sensitive adhesives from the automotive sector in countries such as India, Thailand, and others. Simultaneously, Ethylene Vinyl Acetate segment is predicted to register the fastest CAGR of 7.3% through 2019-2026. Increase in demand for producing EVA based hot melt pressure sensitive adhesives (PSAs) for industrial applications has driven the growth of the segment.
South East Asia to maintain the lion’s share during the study period-
Based on geography, the South East Asia region generated the highest share, holding 77% of the total South East Asia & Middle East PSA market. This is due to a surge in demand for pressure-sensitive adhesives in the South East Asia region owing to the expansion of the automobile as well as flexible packaging sectors. The same segment would also cite the fastest CAGR of 6.4% during the estimated period.
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Leading market players-
- Avery Dennison
- Sika AG
- Henkel AG & CO.KGAA
- BASF SE
- Arkema Group
- Jowat Corporation
- H.B. Fuller Company
- Ashland Inc
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