North America Pressure Sensitive Adhesives (PSA) Market Report and Forecast 2024-2032

North America Pressure Sensitive Adhesives (PSA) Market Outlook

The North America pressure sensitive adhesives (PSA) market size reached USD 3.07 billion in 2023. The market is expected to grow at a CAGR of 5.5% between 2024 and 2032, reaching almost USD 4.72 billion by 2032.                                        

Key Takeaways

• According to Statistics Canada, the revenue from automobile and light-duty motor vehicle manufacturing in 2022 amounted to USD 45,083,712.

• According to the United States International Trade Commission, the US exported USD 302,850 million and imported USD 629,871 million of electronic products in 2022.

• Canada's 11.68% healthcare expenditure of GDP in 2021 drives the market growth, used for healthcare tasks like fissure repair and object fixation.

Water-based PSAs drive the North America pressure sensitive adhesives (PSA) market growth, being deemed environmentally friendly with reduced VOC emissions, thereby minimizing their impact on air quality and human health.

Water-based PSAs are acknowledged for their environmental friendliness, featuring reduced VOC emissions, safer handling, and simple water cleanup. They excel in wetting properties, emit a mild odour, and adhere effectively to porous substrates like paper and fabric.

Solvent-based PSAs are recognized for their quick-drying, boosting productivity, and providing a strong initial tack for immediate bonding requirements. They exhibit resilience to extreme temperatures, offering high cohesive strength, and effectively adhere to non-porous substrates, often resisting water.

Pressure Sensitive Adhesives (PSAs) and the tapes derived from them are vital in automotive manufacturing, aiding in assembly, insulation, and mitigating noise, vibration, and harshness (NVH) issues. The total revenue for automobile and light-duty motor vehicle manufacturing in 2022 was USD 45,083,712, as per Statistics Canada, thereby propelling the market growth.

The North America pressure sensitive adhesives (PSA) market share is dominated by the United States, fuelled by its electronics sector. PSAs are extensively utilized in foldable electronics to integrate devices and create multiple neutral planes (MNPs) that safeguard fragile films during the folding process.

As reported by the United States International Trade Commission, the US exported USD 302,850 million and imported USD 629,871 million worth of electronic products in 2022, thereby fuelling the market growth.

According to the World Bank, Canada's healthcare expenditure as a percentage of GDP was 11.68% in 2021, consequently driving the North America pressure sensitive adhesives (PSA) market due to the use of PSAs in the healthcare sector for purposes such as fissure repair and object fixation.

Market Segmentation

North America Pressure Sensitive Adhesives (PSA) Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Resin Type

• Acrylic

• Rubber

• Ethylene Vinyl Acetate (EVA)

• Silicone

• Polyurethane

• Others

Market Breakup by Technology

• Water Based

• Solvent Based

• Hot melt

• Radiation

Market Breakup by Application

• Tapes

• Labels

• Graphic Films

• Medical Adhesives

• Others

Market Breakup by End Use

• Packaging

• Automotive

• Healthcare

• Electronics

• Building and Construction

• Consumer Goods

• Others

Market Breakup by Country

• United States of America

• Canada

The market participants are funnelling growth through innovation, introducing new products, and entering intro strategic partnerships.

The North America pressure sensitive adhesives (PSA) market key market players are 3M Company, H.B. Fuller Company, Avery Dennison Corporation, Arkema S.A., Ellsworth Adhesives, Saint Gobain SA, Sika AG, Dow Inc., Wacker Chemie AG, and Ashland Inc among others.

Key Highlights of the Report