Growth pressure on adhesives

The Global pressure-sensitive adhesives market is forecast to grow at a CAGR of 5.32 percent over the period 2013-2018 according to a report from analysts Research and Markets. Pressure-sensitive adhesives are a category of adhesives that form a bond with the substrate on the application of slight pressure. They provide a strong and durable bond for lightly loaded applications. Pressure-sensitive adhesives are used in a wide range of applications, from automotive to medical and general industrial applications. The four major types of pressure-sensitive adhesives are water-based, solvent-based, hot melt, and radiation-cured. According to the report, the most important factor driving the market is the increase in demand from the Automotive industry. The trend of manufacturing lightweight vehicles has led to an increase in the demand for pressure-sensitive adhesives that contribute to weight reduction in automobiles. Further, the report states that one of the major challenges in the market is the volatile prices of raw materials. The prices of most raw materials used in the manufacture of pressure-sensitive adhesives are dependent on the price fluctuations of crude oil. Hence, vendors face the challenge of increased procurement costs. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.