Global Pressure Sensitive TapeIndustry is projected to
reach over USD 69.26 billion over the forecast period. This factor can be
majorly attributed to growing demand for corrugated materials used in packaging
owing to their property of high resilience and protection. There is a rising demand
for corrugated boxes primarily in developing countries including India, Brazil,
and China which is expected to trigger market expansion.
Demand
for carton sealing tape segment is projected to experience growth on account of
rising apprehensions concerning environmental friendly packaging solutions due
to stringent government rules and regulations. Also, consumption of the product
has observed a significant growth in the past few years owing to its
compatibility with various sterilization forms and non-toxic nature. New growth
opportunities are expected in this industry in the foreseeable future on
account of the introduction of eco-friendly recovery technologies that are
highly efficient and are used widely in the adhesive coating.
In
2014, demand for the product was 41.44 billion square meters at the global
level. Emerging economies namely Malaysia, India, Saudi Arabia, Vietnam, China,
and Mexico are expected to witness substantial market gains by volume owing to
growth in the construction industry.
Construction
& building are to grow at a CAGR of 5.9 % over the forecast period. Demand
for the segment is expected to have a positive impact in MEA resulting from
increasing foreign direct investments in hospitality, construction and real
estate along with the development of commercial and residential offices. The
market demand is projected to reach over 65.29 billion square meters over the
next seven years.
A
key driver in the masking tape industry is the growing consumption pattern from
automotive and construction sector owing to properties including holding power,
improved moisture resistance, better conformability and instant adhesion.
Masking tape is therefore estimated to witness significant volume gains at a
CAGR of 6.1% over the forecast period.
Full
Research Report on Global Pressure Sensitive Tape Market Analysis:
North
America is expected to account for nearly 20.0% of global share revenue owing
to growing up gradation and building activities in the US and infrastructure
development in Mexico and Canada. Furthermore, growth in the US food &
beverages sector is expected to make way for new avenues and opportunities for
corrugated box packaging thereby impacting carton sealing tape market.
Asia
Pacific demand, in 2014, was 20.36 billion square meters and is likely to
emerge as the fastest growing regional market at a CAGR of 7.0% over the
forecast period as a result of growing construction industry in the wake of
population growth, government infrastructural plans, and urbanization. Ample
availability of raw materials including PVC and polypropylene in China is projected
to propel the market from 2015 to 2022.
Pressure
sensitive tape industry is fragmented with the presence of various companies
including Lintec, 3M, teas SE and Nitto Denko Corporation. They together
constituted over 20.0% of the global market share in 2014. New launches include
a product development by Saint-Gobain in April 2014. It is a double-sided
acrylic tape with high performance, NORBOND A7300, and NORBOND A7200. In August
2015, Shurtape launched flatback paper tape which had a strong hold, moisture
& humidity resistance.
View more reports of this category by
Grand View Research at: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the
Global Pressure Sensitive Tape Market on the basis of backing material,
product, application, and region:
Global
Pressure Sensitive Tape Backing Material Outlook (Volume, Million Square
Meters; Revenue, USD Million, 2015 - 2022)
- Polypropylene
- Paper
- PVC
- Others
Global
Pressure Sensitive Tape Product Outlook (Volume, Million Square Meters;
Revenue, USD Million, 2015 - 2022)
- Carton sealing Tape
- Masking Tape
- Double sided Tape
- Electrical Tape
- Others
Global
Pressure Sensitive Tape Application Outlook (Volume, Million Square Meters;
Revenue, USD Million, 2015 - 2022)
- Packaging
- Building &
construction
- Electrical &
electronics
- Automotive
- Health & hygiene
- Others
Global
Pressure Sensitive Tape Regional Outlook (Volume, Million Square Meters;
Revenue, USD Million, 2015 - 2022)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- India
- Latin America
- Brazil
- MEA
View
Press Release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-pressure-sensitive-tape-market
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