The global pressure sensitive 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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Research:
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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Research: 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
o U.S.
·
Europe
o Germany
·
Asia Pacific
o China
o India
·
Latin America
o Brazil
·
MEA
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-pressure-sensitive-tape-market
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research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
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