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Pressure Sensitive Tape Market - Detailed Analysis and Forecast by 2026
Pressure sensitive tapes are used across myriad applications with new applications being discovered almost daily. The use of pressure sensitive tapes is expected to rise as a joining and fastening solution with advancement in adhesive technology, low cost in comparison to traditional fastening systems, and ease of use.
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Pressure sensitive tape is an adhesive substance that sticks to a given surface on application of light pressure. It is used across various applications in offices, homes, restaurants, institutions, and industries. The major constituents that are used in the manufacture of pressure sensitive tapes are adhesive, filler, resin, and other additives that are combined with organic solvents or water.
The global pressure sensitive tape market can be segmented with respect to backing material, application, product, and geography.
The report on the global pressure sensitive tape market is an interesting read due to its several offerings. The report presents projections of the various segments and sub-segments based on current and past performance. Using standard analytical tools, the report also presents a market attractiveness analysis over the forecast period.
Global Pressure Sensitive Tape Market: Trends and Opportunities
Increasing awareness about the utilization of environment friendly packaging in order to abide by governmental regulations are the major factors contributing to the growth of pressure sensitive tape market.
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In 2015, the packaging industry led the application segment of pressure sensitive tape market and is expected to retain its dominant position over the forecast period. Building and construction is the second-largest application segment of the pressure sensitive tape market. The automotive industry is expected to emerge as a significant application segment of the pressure sensitive tape market in the coming years.
In terms of backing material, the pressure sensitive tape market is divided into paper, PVC, polypropylene, and others. On the basis of product, the segments of the market are single-sided tape, transfer tape, double-sided tape, carton sealing tape, and others (includes masking tape, electrical tape etc.) Amongst these, carton sealing is the leading product segment and is expected to display growth over the forecast period.
Global Pressure Sensitive Tape Market: Regional Outlook
In terms of geography, Asia Pacific is the leading regional market for pressure sensitive tapes and it is expected to retain its dominant position until the end of the forecast period in 2024. In this region, increasing building and construction undertakings predominantly in China, India, and Malaysia and growth of the automotive industry are the major factors propelling the demand for pressure sensitive tapes.
The region is trailed by the Middle East and Africa, which is expected to emerge as a significant market for pressure sensitive tapes. Robust growth of the tourism and hospitality industries in the region leading to new construction undertakings has fuelled the demand for pressure sensitive tapes.
North America and Europe are expected to display a moderate demand for pressure sensitive tapes. In U.S., the expansion of the food and beverage sector is indirectly benefitting the pressure sensitive tapes market for corrugated packaging.
Global Pressure Sensitive Tape Market: Competitive Landscape
The global pressure sensitive tape market features a highly fragmented competitive landscape with the presence of a large number of global and regional players. Some of the key players in the global pressure sensitive market are Nitto Denko Corporation, Lintec, Avery Dennison Corporation, Henkel AG & Company KGaA, 3M, Adchem Corporation, and Canadian Technical Tape Limited among others.
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