Pressure Sensitive Tapes & Labels Market 2024 Global Key Players are Constantia Flexibles, Avery Dennison Corporation, 3M, Scapa, Berry Global Inc., CCL Industries, Coveris Group, UPM Raflatac
Labels product segment is likely to generate revenues of over 45 billion by 2024. The product has become an essential part of any item that is sold in retail. It contains data about the nutritional value of food items, price, date of manufacturing & expiration, etc. Government in many countries have made it mandatory for packaged food products to have extensive data about the content. This will fuel their demand and increase its average sizes in the future which in turn will contribute to the pressure sensitive tapes & labels market development in coming years.
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Based on backing material, pressure sensitive tapes & labels market is categorized into polyvinyl chloride, cloth, paper, polypropylene, and others. Paper is an important segment which will account for more than a fifth of the market size in 2024. Paper backing materials are extensively used for labels. They are also used for tapes which are used for masking applications. The increasing labels demand along with the lower costs of paper will favor this segment’s development in the study period.
- Pressure Sensitive Tapes & Labels Market by Adhesion Type
• Single sided
• Double sided
• Adhesive transfer
- Pressure Sensitive Tapes & Labels Market by Backing Material
• Polyvinyl chloride
- Pressure Sensitive Tapes & Labels Market of Product by End-user
• Food & beverage
• Automotive & transportation
• General manufacturing
• Food & beverage
• Automotive & transportation
• General manufacturing
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The pressure sensitive tapes & labels market is categorized, on the basis of adhesion type, as single sided, adhesive transfer, and double sided. Double sided products have adhesive applied on both the sides of the support material. The release liners are coated on both the sides with release agents for creating a differential release. The adhesives on both the sides of the backing material may be of different chemistries or thickness. This pressure sensitive tapes & labels market segment will experience high growth by around 8% CAGR during the forecast timespan.
Food & beverage is a key end-user industry in the pressure sensitive tapes & labels market. The products are used in the labelling and packaging of food products. High growth in the packaged food industry in developing countries of Asia Pacific along with steady food & beverage demand from saturated markets in developed countries will drive demand for pressure sensitive tapes & labels market till 2024. Automotive & transportation end-user segment will gain by close to 6% CAGR in the forecast timeframe. Growing light weight vehicles demand for increased fuel economy and lesser emissions will increase usage of pressure sensitive tapes for bonding applications in the future.
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North America is a major pressure sensitive tapes & labels market owing to its large packaging and food & beverage industry. A large manufacturing sector is also a principal reason behind North America’s large market size which is likely to surpass USD 35 billion by 2024. Latin America market will exhibit growths of more than 6.5% CAGR and will turn into a key pressure sensitive tapes & labels market till the end of the study period. High growth in the Mexican automotive and general manufacturing industries along with high demand for packaging materials in South American countries such as Brazil, Argentina, and Chile will favor the region’s pressure sensitive tapes & labels market development in the forecast timeframe.
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