Global Pressure Sensitive Tape Market: Snapshot
Pressure sensitive tape is a universal commodity employed for bonding and sealing applications. Pressure sensitive tape are widely used for packaging, sealing, labeling, electrical insulation, stationery, and other general purpose applications. These tapes are based on many kinds of pressure sensitive adhesives where in adhesive is applied on one side or on both sides. They can be easily put on any surface by applying slight mechanical or manual pressure.
Adhesive tapes are widely used for labelling, packaging, sealing, stationery, electric insulation, and general-purpose applications. In the automotive industry, adhesive tapes are used for joining interior parts, roof, and glass bonding. These tapes are also extensively used in the construction industry for applications associated with ceramic tiles, concrete, floorings, panels, and roofing. The demand for pressure sensitive tapes has continued to rise over the years as application areas have increased.
Transparency Market Research estimates that the market, which valued at US$53,906.5 mn in 2015, will reach a valuation of US$96,105.0 mn by 2024, expanding at a CAGR of 6.7% between 2016 and 2024.
Specialty Tapes to Gain Increased Adoption
In terms of product, the pressure sensitive tape market has been segmented into cartoon sealing tape, masking tape, double sided tape, and specialty tape. Of these, the segment of cartoon sealing tape emerged as the leading product segment of the pressure sensitive tape market in 2015. The segment accounted for more than 60% share in the global market in terms of volume in 2015.
In terms of revenue, specialty tape segment is expected to be the key product segment in terms of growth, expanding at a CAGR of 7.7% during the forecast period. Specialty tapes consists of unique properties as per the requirement when compared to general varieties of pressure sensitive tapes. The promising future growth prospects of this segment are attributed to the high demand for pressure sensitive tapes for specific operation and purpose. The segment is expected to acquire significant global market share owing increasing demand in applications such as vibration, masking, insulation, wire harnessing, and labeling.
Asia Pacific Market to Remain Strong
Asia Pacific leads the global pressure sensitive tape market. The demand in this region is driven due to the steady expansion of economies such as India, Indonesia, and Vietnam, rising population, and rapid industrialization. Technological advancements, easy availability of raw materials, and strong manufacturing base, particularly in China and Japan, are the key factors favoring the growth of pressure sensitive tape market in the region. The Asia Pacific market is expected to capture significant market share in future expanding at a CAGR of 7.3% during the forecast period.
The pressure sensitive tape market in North America is likely to expand at a promising pace during the forecast period due to surging automotive sector and increasing use of pressure sensitive tape in place of mechanical fasteners. In terms of revenue, Europe held a significant 21.8% share in the global pressure sensitive tapes market. Rise in purchasing power of people and steady expansion of the consumer goods industry are likely to drive the pressure sensitive tape industry in the region. The countries such as Italy, Germany, France, U.K. and Spain are booming packaging markets, which, in turn, is also likely to boost the demand for packaging tapes in the region.
Some of the leading companies operating in the global pressure sensitive tape market profiled in the report are Kruse Adhesive Tape, 3M, Nitto Denko Corporation, tesa SE, H.B.Fuller, LINTEC Corporation, Saint-Gobain, Surface Shields, CCT Tapes, Scapa Group plc., Advance Tapes International, Vibac Group S.p.a., CMS Group of Companies, Lohmann GmbH & Co.KG., NICHIBAN CO., LTD.
Global Pressure Sensitive Tape Market: Overview
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.
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.
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.
The global pressure sensitive tape market is segmented as follows:
Global Pressure Sensitive Tape Market, by Geography
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Middle East and Africa
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- A clear understanding of the competitive landscape and key product segments