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Pressure Sensitive Tapes & Labels Market 2021 | Insights & Forecast Research Report 2026
Pressure Sensitive Tapes & Labels Market
These tapes & labels can effectively replace glues, rivets, and screws in numerous applications to improve the efficiency. This also helps in forming innovative, novel material combinations and visual designs that are high impact.
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Meanwhile, various new developments in the manufacturing sector will also augment market demand in the study timeframe. The main use of pressure sensitive tapes & labels throughout the manufacturing industry is to enhance the efficiency of machines by making them very light in weight.
As per a new research report by Global Market Insights, Inc., the pressure sensitive tapes & labels market is estimated to surpass a $120 billion valuation by 2026.
Several market players in the industry are actively focusing on launching novel products in order to consolidate their position in the landscape. Citing an instance, in March 2021, Sealstrip, a leading provider of easy open packaging solutions, reportedly launched a new recyclable pressure sensitive tape, VerdeSeal. This new product is specifically designed for usage with its resealable and easy to open product lines. Apart from recyclability, the product also boasts of a much lower carbon footprint in comparison to other conventional reseal adhesive technologies.
Based on backing material, the PVC (Polyvinyl Chloride) segment will witness tremendous growth over the projected time period. PVC exhibits robust dimensional stability as well as transparency, which are key factors considered during the production of pressure sensitive labels and tapes. The material also holds the ability to be made soft, a property that is preferred for insulating and masking applications. These features essentially make PVC the material of choice across a number of application avenues, which would consequently ensure that the segment sees stimulating growth in terms of business.
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With respect to end-user, the healthcare segment is poised to grow at a CAGR of 7.5% over the assessment time period. This growth projection can be chalked up to the growing demand for pressure sensitive tapes & labels across numerous applications like electronic visual inspection, electromedical, labeling OTC containers in pharmaceutical applications, wound care, ostomy and surgical applications.
Through the regional standpoint, pressure sensitive tapes & labels market in North America will generate revenues of more than $20 billion by the end of 2026. The regional growth can be ascribed to the expanding packaging and food & beverages industries. The market will also clock in substantial growth owing to the escalating demand for conveniently packaged food products and improving lifestyles.
Berry Global, Lintec Corporation, UPM Raflatac, and 3M among others are some of the key players operating in the global pressure sensitive tapes & labels market.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights:
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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