Global Pressure Sensitive Tapes Market Share, Trends, Analysis and Forecasts, 2020-2030
The Pressure Sensitive Tapes Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
Pressure sensitive tape is continuous flexible strip of plastic, metal, cloth or paper coated with adhesives that adhere to surfaces with application of pressure without changing phase of adhesive. Based on type and application of adhesive material, the pressure sensitive tapes can be single coated, double coated, reinforced or unsupported. The pressure sensitive tapes are used across several industries such as packaging, construction, automotive, and so on. With emergence and expansion of ecommerce, the demand for efficient packaging and sealing products has increased significantly during past decade. Additionally, increased demand for pressure sensitive tapes form construction industry has contributed significantly towards the growth of the global pressure sensitive tape market. It plays a vital role in maintaining the integrity of industrial systems such as HVAC, transformer windings, and electrical wiring, thus are witnessing prominent demand across the globe. Pressure sensitive tapes are also used in security & safety, signage and marking applications such as hazardous material warnings, traffic signs, commercial vehicle reflectivity, and so on. This has fuelled the adoption of pressure sensitive tapes across commercial and residential sectors.
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The global pressure sensitive tape market is segmented on the basis of type, construction, adhesive type, backing material, applications, end use industry, and geography. Based on type, the global pressure sensitive tapes market is segmented into specialty tapes, packaging tapes, consumer tapes, and others. The speciality tapes contributed a prominent share to the global market in 2019 and is expected to be the fastest growing segment during the forecast period. The major attributes contributing towards the growth of speciality tapes is increasing adoption across automotive industry for wire harnessing, thermal insulation and other similar applications. The packaging tapes contributed a dominating share to the global pressure sensitive tape market and is anticipated to be a dominating segment throughout the forecast period.
Increased demand for advanced and sustainable packaging solutions to drive the growth of market in coming years
Based on end use industry, the global pressure sensitive tapes market is segmented into packaging, semiconductor & electronics, energy & utility, IT & telecommunication, automotive & transportation, healthcare, building & construction, and others. The applications of pressure sensitive tapes in packaging industry contributed the largest share to the global market in 2019 and is expected to witness prominent growth during the forecast period owing to strong demand from packaging industry fuelled by expansion of ecommerce industry. The automotive & transportation is anticipated to witness prominent growth during the forecast period.
Based on geography, the global pressure sensitive tapes market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific contributed a dominating share to the global market in 2019 and is anticipated to be a dominating segment throughout the forecast period owing to the expansion of automotive, semiconductor & electronics, healthcare and packaging industry across major countries. North America is anticipated to witness steady growth during the forecast period, followed by Europe owing to strong demand from packaging industry across these geographies.
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Major players active in the global pressure sensitive tapes market include 3M, Adhesive Applications, Adhesives Research, American Biltrite Inc., AVERY DENNISON CORPORATION, Berry Global Inc., Cantech, CCT Tapes, Coroplast Fritz Müller GmbH & Co.KG, Duraco, Edge Adhesives, Infinity Tapes, Intertape Polymer Group, Lamart Corp, Mactac, Magnum Tapes & Films, NITTO DENKO CORPORATION, Shurtape Technologies, LLC, tesa SE, and Worthen Industries.