According to a new report published by Allied Market Research
titled,"South East
Asia & Middle East Pressure Sensitive Adhesives Market by
Composition, by Type, by Application, by End Use Industry: Opportunity Analysis
and Industry Forecast, 2019 - 2026,"the South East Asia
& Middle East pressure sensitive adhesives market accounted for revenue of
$1,175.4 million in 2018 and is anticipated to generate $1,890.9 million by
2026. The market is projected to grow at a CAGR of 6.1% from 2019 to 2026.
A pressure-sensitive adhesive is a material that adheres two
different or identical surfaces together solely through surface contact, and
the bond formation is achieved by applying small magnitude of external
pressure.
These adhesive so not require long retention or curing time,
which fuels their adoption across various applications. Furthermore, they
eliminate the need for rivets and clips, thus preventing corrosion and cracks
and enhancing the appearance of the end product. In addition, they are
increasingly replacing mechanical fasteners in automotive and transportation
applications, as they offer enhanced corrosion resistance. However, stringent
government regulations associated with volatile organic compounds (VOCs)
emission limit their adoption.
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The Southeast Asia & Middle East pressure-sensitive
adhesives market is analyzed across composition, type, application, end use
industry, and region. Different types of composition of pressure sensitive
adhesives studied, in the report are acrylic, rubber, ethylene vinyl acetate,
silicone, polyurethane, and others. On the basis of type, it is bifurcated into
water based, hot melt, solvent based, and radiation based. By application, the
market is categorized into labels, medical, graphics, tapes, and others. End
use industries included in the scope of report are automotive, packaging,
building & construction, electronics, medical, consumer goods, and others.
Region wise, the market is analyzed across Southeast Asia, and Middle East.
Southeast Asia countries analyzed in the report are Thailand, Vietnam,
Philippines, Malaysia, India, Indonesia, Myanmar, Cambodia, and Rest of
Southeast Asia. The Middle East is analyzed across are Saudi Arabia, Turkey,
UAE, Qatar, and Rest of Middle East.
Based on composition, the acrylic segment occupied the highest
share of 27.4%, in terms of revenue, in 2018, and is anticipated to continue
its dominance throughout the analysis period. Acrylic based pressure sensitive
adhesives are widely adopted owing to its characteristics such as strong bond
formation, resistance to high temperatures, and chemicals.
By type, the water-based adhesives segment is anticipated to
grow at the highest rate, in terms of revenue as well as volume, due to the
eco-friendly nature of these adhesives. Moreover, these adhesives deliver same
degree of performance as solvent-based acrylics, and are preferred when safety
& lesser cost are considered.
On the basis of application, the tapes segment garnered the
highest market share of 32.6% in terms of revenue in 2018. This is attributed
to the presence of large consumer base in South East Asia such as automotive
and packaging.
As per end-use industry, packaging exhibited the highest market
share of 24.4% in terms of revenue in 2018, as it offers numerous advantages
such as, instant bond formation, user-friendly application, and others.
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Region wise, Southeast Asia is expected to grow at fastest rate,
in terms of revenue as well as volume. This is attributed to increase in demand
from end-use industries such as packaging, automotive, and others.
The market analysis covers in-depth information of major
industry participants. The key player operating and profiled in the market
includes Arkema Group, Ashland Inc., Avery Dennison Corporation, Dow, Jowat
Corporation, H.B. Fuller Company, BASF SE, 3M, Sika AG, and Henkel AG Co. KGaA.
Other players in the value chain of the market includes Wacker
Chemie, Momentive, Evonik, Advance Polymers., Ester Chemical Industries Pvt.
Ltd., Aik Chiang Sdn Bhd, GB Chemical (M) Sdn. Bhd., and others.
Key Findings of the South East Asia & Middle East Pressure
Sensitive Adhesives Market:
- The market is analyzed from 2018
to 2026.
- The South East Asia is projected
to grow at a highest CAGR of nearly 6.4%, in terms of revenue, during the
forecast period.
- The Water based in the type
segment is anticipated to witness highest growth rate of 7.6%, in terms of
revenue, during the forecast period.
- The market trends are analyzed
across South East Asia-Pacific, and Middle East.
- A comprehensive analysis of the
factors that drive and restrain the market growth is provided.
- An extensive analysis of various
regions provides insights that are expected to allow companies to
strategically plan their business moves.
- The qualitative data in this
report aims at the market dynamics, trends, and developments in the
pressure sensitive adhesives industry while the quantitative data provides
the market size in terms of revenue, and volume.
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