The global Pressure Sensor Market is expected to reach USD 11.91 billion by 2025. A pressure sensor can be defined as a device that is used to sense pressure changes and translate it into an electrical signal, that can be moderated depending on the strength of pressure. Factors, such as advancements in MEMS & NEMS technologies for various applications, increase in use of pressure sensors in automotive industry. In addition, favorable regulations for use of pressure sensors and increase in demand for pressure sensors in consumer electronics are likely to drive the pressure sensor industry in the forthcoming period.

On the other hand, intense pricing pressure is anticipated to hinder pressure sensor market growth in the future. However, the increasing demand for pressure sensors in numerous applications is likely to create lucrative opportunities for the market. Pressure sensor industry is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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Pressure sensors market is segmented by type, product type, application and geography. The market is segmented by type as Resonant Solid State, Piezoresistive, Capacitive, Electromagnetic, Optical and Others. The “Piezoresistive” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of market include increasing use of MEMS sensors in wearable devices and consumer electronics is boosting market growth.

Based on product type, the pressure sensors industry is segmented by Gauge Pressure Sensors, Absolute Pressure Sensors, and Differential Pressure Sensors. The “Absolute Pressure Sensors” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factor that could be attributed to the growth of market includes increasing demand in industrial applications for the measurement of vacuum levels.

The key applications are segmented in the pressure sensor market include Oil & Gas, Consumer Electronics, Industrial Applications, Automotive, Medical, and Others. The “Consumer Electronics” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of market include rising use of MEMS devices in wearable devices and consumer electronics is boosting the segment growth. The Consumer electronics segment is followed by the Automotive sector in the forthcoming period.

North America is a leading region in the market. It is likely to maintain a dominance in the forecast period owing to factors, such as increasing awareness about the advantages of automated systems and growing deployment of automated retrieval and storage systems (ASRS), presence of several semiconductor establishments, sensor manufacturers, and foremost system suppliers in North American countries. North America is followed by the Asia-Pacific region.

Key players operating in the pressure sensor industry include ABB Ltd, Emerson Electric Co., Analog Devices, Inc., Robert Bosch Gmbh, Delphi Automotive Plc, Denso Corporation, Honeywell International Inc., NXP Semiconductors, N.V., Damco Corporation, and Schneider Electric. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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Market Segment:

Product Outlook (Revenue, USD Million; 2014 - 2025)
• Absolute Pressure Sensors
• Differential Pressure Sensors
• Gauge Pressure Sensors

Type Outlook (Revenue, USD Million; 2014 - 2025)
• Wired
• Wireless

Technology Outlook (Revenue, USD Million; 2014 - 2025)
• Piezoresistive
• Electromagnetic
• Capacitive
• Resonant solid-state
• Optical
• Others

Application Outlook (Revenue, USD Million; 2014 - 2025)
• Automotive
• Oil & gas
• Consumer electronics
• Medical
• Industrial
• Others

Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Russia
• Nordic Region
• Asia Pacific
• India
• Australia
• China
• Japan
• Latin America
• Brazil
• Argentina
• MEA
• Saudi Arabia
• UAE

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Industry Insights

The global Pressure Sensitive Adhesives Market was valued at USD 8.81 billion in 2015. The market is driven by the increasing consumption of the product in construction, consumer goods, automotive, and packaging industries. The rising requirements for reducing weight in products providing high bonding solutions is expected to drive market growth.

The increasing use of low-cost engineering and lightweight plastics in numerous end-use applications such as electronics, construction, and automotive is expected to have a positive impact on the PSA market demand. The low plastic materials are evolving as substitutes for wood assembly, construction material, glass, and heavy materials.

The demand for PSA in the automotive sector is increasing owing to the pressure for reduction in emission from regulatory bodies coupled with increased mileage performance is likely to propel market growth. The rising acceptance of RFID labels (wireless tags) in end-use applications including medical, packaging, architecture, and automotive on account of their contribution in managing inventory is likely to aid PSA market growth.

The regulations regarding reducing carbon & Green House Gases (GHG) emissions by improving fuel efficiency has attracted the OEM automotive towards plastics as substitutes for metals including steel and aluminium, thereby aiding PSA market growth.

The cultural and social factors including increased spending on lifestyle products, increased income of nuclear families and a high number of working women are likely to affect market dynamics. These factors augment the growth in major industries including consumer goods, electronics & electrical, and packaging.

Technology Insights

The demand for water-based PSA is expected witness fastest growth on account of its eco-friendly and low-cost characteristics. The attributes of water-based PSA such as high resistance to UV radiation, temperature, and chemicals coupled with high sheer, peel & tack bonding well with polymer, polycarbonates, and glass & metal surfaces have enabled their scope of applications.

The labeling segment is the largest application of water-based PSAs having wide product range such as CDs, vegetables & fruits, electronic devices owing to its superior moisture adhesion coupled with high tack. In addition, their low cost and multiple properties have aided in their growth over conventional polymers.

The solvent-based PSAs are acrylic polymers produced from crude oil solvents offering high tensile strength. In addition, the peel & sheer strength provided by them is higher than water-based PSAs. Solvent-based products are used in Asia Pacific region on account of relaxed regulations on emissions. The use of the product in the automobile industry is high on account of their resistance to fluids including gasoline, brake fluid antifreeze, & oil and chemicals.

Product Insights

The largest product segment was labels at CAGR of over 5% owing to the rising demand for retail labeling and RFID labels. The key driving factor for the growth in this segment is a wide range of applications in security, health & beauty, food & beverage, and transportation industry.

RFID labels contributed to one of the largest application segment owing to their ability to track security and inventory locations including sea ports, shopping malls, and companies. Graphics application accounts for a small market share as opposed to tapes and labels is a potential future market owing to a wide range of applications in cushioning and home décor.

Tapes dominate the market with wide application scope in construction & building, medical, electrical, and automotive industries. They are used in mounting, HVAC & pipe wrapping, splicing, casketing, sealing, and masking.

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End-use Insights

The dominant end-use segment was packaging accounting for over 25% of the market volume in 2015, owing to the high use of the product in food packaging industry. The advent of packaging technology coupled with increased requirement of PSAs flexible materials on account of its attributes including good adhesion at low temperature is anticipated to fuel market demand.

The extensive use of the product in electronics & electrical industries is on account of its performance specifications including easy application, strong bond strength, easy application, and transparency coupled with decreased processing time. The electronic appliances including refrigerators and microwaves together with membrane switches are likely to have a positive impact on PSA market growth.

The PSAs are widely used as substitutes for mechanical fasteners and liquid epoxies on account of its attributes including clean application, ease of handling, thickness control, flexibility, consistent bond, and mess-free processing. The rising need for use of automation, fast prototyping, and quick changeover are anticipated to fuel market growth in the electrical & electronics segment.

Regional Insights

Asia Pacific contributed to over 45% of the market volume in 2015. The easy availability o funds via personal loans and EMI coupled with increasing disposable income is expected to drive market growth in the region. The demand for the product is primarily from the electronic & electrical and automotive industries.

The variation in consumer preferences with regard to convenience and processed food is expected to propel PSA market demand in Central & South America for the labeling application segment. The emerging economies including Brazil and Uruguay are undergoing sharp industrial growth together with large investments in automotive and construction industries.

The stringent regulations regarding VOC emissions together with fuel efficiency norms are likely to result in the sluggish growth of the product in North America and Europe regions. The regulatory agencies including REACH, U.S., and EPA have strict norms to improve sustainability. This includes considerable investment by the companies to develop eco-friendly product portfolio in accordance with the norms.

Competitive Insights

The global PSA market is fragmented with the presence of various large and small scale companies. The major companies are 3M, Bostik, Avery Dennison, H.B. Fuller, Dow Chemicals, Sika, Henkel, and Ashland. The other players include Drytac, Collano Adhesives, Franklin Adhesives & Polymers, Novamelt, Scapa, and Jesons Industries.

The major companies in the market focus on developing their existing product portfolio together with the development of new, competitive, and innovative products. Ashland launched Arocure UV-curable PSAs based on hot-melt technology for application in specialty tapes. The widely used product strategy implemented by most of the companies is product innovation.

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Global Pressure Sensitive Tape Market is anticipated to reach USD 69.26 billion over the forthcoming period. Pressure sensitive tapes are also known as “PSA Tape”, or “Adhesive Tape”. Pressure sensitive tape is an adhesive tape that could be stuck with application of pressure, without the solvent (such as heat or water) for initiation. It is mainly used in the institutions, industry, office, home for several purposes.

The factors that propel the growth of the Pressure Sensitive Tape industry include increasing demand for Box/sealing, extensively used for packaging, labelling, sealing, electric insulation, general-purpose, and stationery applications. On the other hand, there are factors that may hamper the growth of the market including severer rules concerning solid waste disposable. Pressure Sensitive Tape Market is anticipated to grow at a significant CAGR of 6.1% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Pressure Sensitive Tape industry may be explored by backing material type, product type, application and geography. The market may be explored by backing material type as PVC, Polypropylene, Paper, and Others. The “Polypropylene” segment led the Pressure Sensitive Tapes Market in 2016 and is anticipated to maintain its dominance by 2022 due to cost effectiveness, high-tear resistance in mid-direction & cross-direction, and well stability skill.

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The key application that could be explored in the market include Building & construction, Packaging, Electrical & electronics, Health & hygiene, Automotive, and Others. The “Packaging” segment led the pressure sensitive tape industry in 2015 and is anticipated to maintain its dominance by 2022 due to its biodegradability and low carbon footprint. The industry could be explored based on product type as Masking Tape, Electrical Tape, Carton sealing Tape, Double sided Tape, and Others.

North America accounted for the major share of the Pressure Sensitive Tape Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth includes rising building activities in the US and organization growth in Canada and Mexico. Additionally, development in the US food & beverages segment is expected to drive the demand in the forecast period. North America is followed by Asia-Pacific.

Some of the key players that fuel the growth of the Pressure Sensitive Tapes industry comprise3M, Kruse Adhesive Tape, Vibac Group S.p.a., Nitto Denko Corporation, H.B.Fuller, tesa SE, LINTEC Corporation, Surface Shields, Saint-Gobain, CCT Tapes, NICHIBAN CO., LTD, Advance Tapes International, Scapa Group plc., Lohmann GmbH & Co.KG., CMS Group of Companies. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

Market Segment:

Global Pressure Sensitive Tape Backing Material Outlook (Volume, Million Square Meters; Revenue, USD Million, 2012 - 2022)
• Polypropylene
• Paper
• PVC
• Others

Global Pressure Sensitive Tape Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2012 - 2022)
• Carton sealing Tape
• Masking Tape
• Double sided Tape
• Electrical Tape
• Others

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Global Pressure Sensitive Tape Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2012 - 2022)
• Packaging
• Building & construction
• Electrical & electronics
• Automotive
• Health & hygiene
• Others

Global Pressure Sensitive Tape Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2012 - 2022)
• North America
• U.S.
• Europe
• Germany
• Asia Pacific
• China
• India
• Latin America
• Brazil
• MEA