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Pressure Sensitive Tapes & Labels Market Growth Trends & Share Analysis Report till 2024 | 3M, Avery Dennison, CCL Industries
Pressure Sensitive Tapes & Labels Market
Increasing demand for ready-to-eat food, beverages and other edible products in developed countries such as the U.S., Germany, UK, is expected to create huge opportunities for the pressure sensitive tapes & labels market growth by 2024. The market will surpass USD 150 billion by 2024; according to a new research report.
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Asia Pacific led by India and China held over 40% share of the entire pressure sensitive tapes & labels market with a CAGR of more than 7% by the end of forecast period. Growth in regional packaging sector, online retailing, coupled with rising demand for packaged food, beverages, and other edible products will be key driving factors behind the colossal share of Asia Pacific region.
Pressure sensitive tapes & labels market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Pressure Sensitive Tapes & Labels Market by Backing Material:
• Polypropylene
• PVC
• Paper
• Cloth
• Others
Pressure Sensitive Tapes & Labels Market by Adhesion Type:
• One sided
• Double sided
• Transfer type
Pressure Sensitive Tapes & Labels Market by product:
• Tapes:
o Food & beverage
o Healthcare
o Logistics
o Automotive & transportation
o General manufacturing
o Others
• Labels:
o Food & beverage
o Healthcare
o Logistics
o Automotive & transportation
o General manufacturing
o Others
Pressure Sensitive Tapes & Labels Market by End-user:
• Food & beverage
• Healthcare
• Logistics
• Automotive & transportation
• General manufacturing
• Others
Paper and polypropylene collectively will account for over 65% of the entire market share by the end of the forecast spell.
Single sided segment is expected to surpass USD 100 billion by the end of 2024, growing at an annual growth rate of over 6.5% in coming years. Low cost and ease of use are some of the key factors for the segment demand in pressure sensitive tapes & labels market.
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Tapes will generate a revenue of more than USD 100 billion with the annual growth rate of over 6.6% by 2024. Excessive use of the product in myriad end-user domains include food & beverage, logistics, automotive & transportation and others.
Food & beverage and logistics collectively will hold more than 50% share of the entire segment by the end of forecast timeframe. This is due to the usage of the product for packaging and displaying the information of food, beverage, cosmetics, and other items.
The list of key manufacturers in pressure sensitive tapes & labels market comprises:
• 3M
• Avery Dennison
• Coveris
• Gaska Tape
• Scapa Group
• LINTEC Corporation
• American Biltrite
• Fuji Seal International
• CCL Industries
Excessive energy consumption, environmental protocols related to solid waste disposal are the key restraining factors for the pressure sensitive tapes & labels market growth in forecast spell. Additionally, volatile organic compound-based adhesives which affects the environment, high temperature required at the time of application is another hindering factor for the industry growth over the forecast period.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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