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Pressure Sensitive Tape Market - Changing Supply And Demand Scenarios By 2016 - 2026
Pressure Sensitive Tape Market
Based on backing material pressure sensitive tape can be classified as paper, polypropylene, PVC and others. It can be further classified based on product type like single-sided tape, double-sided tape, transfer tape, carton sealing tape and others (includes electrical tape, masking tape etc.)Based on major application, pressure sensitive tape is can be classified into building & construction, packaging, automotive, electrical & electronics, health & hygiene and others. Increasing demand of corrugated boxes majorly in emerging economies is expected to fuel the demand for pressure sensitive tape.
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Based on product type, carton sealing dominated the pressure sensitive market and is projected to experience growth during the forecast period. Increase in awareness related to environmental friendly packaging solution due to stringent government rules and regulations are the key factors which is anticipated to contribute the growth of pressure sensitive tape during forecast period.
Packaging industry dominated the pressure sensitive tape in 2015 and is continue to remain the leading segment during the forecast period followed by building & construction. Application of pressure sensitive tape in automotive industry is anticipated to grow significantly during the projected period.
In terms of region, Asia Pacific is the largest region for pressure sensitive market and it is anticipated to remain the dominant region during the forecast period. Increasing building & construction activities in countries like China, India, Vietnam, Malaysia are positive growth outlook in automotive industry are the key factors which is anticipated to contribute the demand for pressure sensitive market during forecast period. The Asia Pacific is also anticipated to grow at fastest rate compare to other region during the forecast period. Middle East & Africa is another leading segment after asia pacific which is expected to grow at higher.
Strong focus of Middle East government towards hospitality and tourism industry triggers the growth of construction sector which in turn fuel the demand for pressure sensitive tape. North America and Europe is expected to grow at moderate rate during the forecast period. Slight recovery in developed countries increase the construction activities which is expected to trigger the demand for pressure sensitive tape at moderate growth rate during the forecast period. In addition to this, growth in the US food and beverage sector is expected to grow the corrugated packaging making positive impact on pressure sensitive market.
Global pressure sensitive market is highly fragmented which many global and regional players operating in the market. Some major global companies are Nitto Denko Corporation, 3M, Lintec, Adchem Corporation, Avery Dennison Corporation, Canadian Technical Tape Limited, Henkel AG & Company KGaA and others
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