The global pressure sensitive tapes market size is poised to reach USD 75.91
billion by 2025, according to a new report by Grand View Research, Inc.,
progressing at a CAGR of 4.1% during the forecast period. Increasing
application scope in the medical and automotive industries is projected to
augment the market over the forecast period.
The market is driven by the packaging
industry on account of their high-volume usage in cardboard and container
sealing. In addition, ease of application of packaging tapes as compared to
substitute products such as adhesives and sealants is anticipated to further
boost the demand in packaging application in end-use industries.
Technological advancements in the industry
are focused towards production of premium quality products with superior
performance. Development of customized product designed for use in specialized
applications along with rise in use of silicone-based adhesives is estimated to
emerge as a way forward for tape manufacturers across the globe.
Fluctuations in raw material prices result
in a notable changes in procurement cost for manufacturers, thereby negatively
influencing the growth of the market. Volatility in prices of raw materials is
a result of changes in crude oil prices. Moreover, sanctions imposed on import
of crude oil are also expected to limit the market from realizing its utmost
potential.
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https://www.grandviewresearch.com/industry-analysis/pressure-sensitive-tapes-market
https://www.grandviewresearch.com/industry-analysis/pressure-sensitive-tapes-market
Further key findings from the report suggest:
· Packaging tapes represented over 63.0% of
the overall volume in 2017 on account of their increasing use in sealing,
enclosing, bundling, and wrapping applications of containers, cardboard boxes,
and bottles
· Specialty pressure sensitive tapes are
likely to register a CAGR of 4.3% in terms of revenue from 2018 to 2025 owing
to their spiraling demand in the medical industry for sustainable and easy to
use wound care solutions
· Woven & non-woven backing materials
commanded over 18.0% of specialty tapes volume share in 2017, owing to their
properties such as stretchability, bacterial barrier, and absorbency, which
facilitate their use in medical and wound care applications
· Acrylic is the most widely used adhesive
chemistry for manufacturing of specialty pressure sensitive products. It is
poised to post a CAGR of 4.5% in terms of revenue during the forecast period as
it offers better tacking properties and high UV, plasticizer, and solvent
resistance
· The Asia Pacific pressure sensitive tapes
market accounted for 35.6% of the overall revenue in 2017, on account of
booming manufacturing sector and presence of major manufacturers in the
electronics, automotive, and medical industries in the region
· Presence of a large number of players and
introduction of advanced products for specialized applications coupled with
price discrimination by manufacturers in China are bolstering the competitive
rivalry in the market.
Grand View Research has segmented the
global pressure sensitive tapes market on the basis of product (backing material,
adhesive chemistry), technology, and region:
Pressure Sensitive Tapes Product Outlook (Volume,
Million Square Meters; Revenue, USD Million, 2014 - 2025)
·
Specialty tapes
·
Packaging tapes
·
Consumer tapes
Pressure Sensitive Tapes Technology Outlook (Volume,
Million Square Meters; Revenue, USD Million, 2014 - 2025)
·
Specialty tapes
·
Other tapes
Pressure Sensitive Tapes Backing Material Outlook
(Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
·
Specialty tapes
o
Woven/Nonwoven
o
Polyvinylchloride (PVC)
o
Polypropylene (PP)
o
Polyethylene Terephthalate (PET)
o
Foam
o
Metal
o
Others
Pressure Sensitive Tapes Adhesive Chemistry
Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
·
Specialty tapes
o
Acrylic
o
Rubber
o
Silicone
Pressure Sensitive Tapes Regional Outlook (Volume,
Million Square Meters; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Rest of World
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
