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U.S. Pressure Sensitive Tape Market revenue, by application, 2012 - 2022 (USD Million)
The global PressureSensitive Tape Industry 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.
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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.
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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
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
o
India
·
Latin America
o
Brazil
·
MEA
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