26-Aug-2019: 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 the production of premium quality
products with superior performance. Development of customized product designed
for use in specialized applications along with rising in use of silicone-based
adhesives are estimated to emerge as a way forward for tape manufacturers across
the globe.
Fluctuations in raw
material prices result in 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.
In
depth research report on 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 a 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 the 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
·
Automotive
·
Aerospace
·
White goods
·
Electronics
·
Semiconductors
·
Electrical
·
Paper & printing
·
Construction
·
Medical
·
Hygiene
·
Retail & graphics
·
Others (Sports, defense, etc.)
·
Packaging tapes
·
Consumer tapes
Pressure Sensitive Tapes Technology Outlook (Volume, Million
Square Meters; Revenue, USD Million, 2014 - 2025)
·
Specialty tapes
·
Hot melt
·
Water based
·
Solvent based
·
Radiation cured
·
Other tapes
·
Hot melt
·
Water based
·
Solvent based
·
Radiation cured
Pressure Sensitive Tapes Backing Material Outlook (Volume,
Million Square Meters; Revenue, USD Million, 2014 - 2025)
·
Specialty tapes
·
Woven/Nonwoven
·
Polyvinylchloride (PVC)
·
Polypropylene (PP)
·
Polyethylene Terephthalate (PET)
·
Foam
·
Metal
·
Others
Pressure Sensitive Tapes Adhesive Chemistry Outlook (Volume,
Million Square Meters; Revenue, USD Million, 2014 - 2025)
·
Specialty tapes
·
Acrylic
·
Rubber
·
Silicone
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. in the 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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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