Pressure Sensitive Tapes Market Scenario
The demand for pressure sensitive tapes is growing rapidly and is projected to grow at the same pace over the forecast period owing to growing demand from the automotive industry. These tapes are used in automotive industry for joining interior parts, roof, and glass bonding.
The global Pressure Sensitive Tapes Market is estimated to grow at a CAGR of 6.1% during the estimated period, 2017-2023.
Global Pressure Sensitive Tapes Market is segmented based on backing material, product, application, and region. On the basis of the by Backing Material, the market is segmented into the Paper, PVC, Polypropylene and others. The polypropylene accounted for the largest market share in 2016 due to its properties such as superior moisture and chemical resistant. Good fatigue and impact resistance along with the resistance to electricity also expressively upsurges its demand as a backing material. The paper segment is anticipated to grow at the highest CAGR during the forecast period. Growing government guidelines for manufacturing lightweight vehicles ultimately increase the demand for paper tapes in the automotive industry.
On the basis of the application, the market is further segmented as Healthcare, Packaging, Construction, Manufacturing, and others. Packaging is dominating the application segment of the global the Pressure Sensitive Tapes Market. High growth in packaging industry across the globe is a major factor driving the demand of the market.
Some of the prominent players in the Pressure Sensitive Tapes Market are Avery Dennison Corporation, 3M Company, Berry Plastics Corporation, American Biltrite Inc., Jonson Tapes Limited, and Adchem Corporation. Nitto Denko Corporation, Intertape Polymer Group, Advance Tapes International Limited, Tesa SE, LINTEC Corporation, Scapa Group, Shurtape Technologies, LLC, and Zhejiang Yonghe Adhesive Products Company Limited are among others.
The global Pressure Sensitive Tapes Market consists of North America, Europe, Asia Pacific, and Rest of the World (RoW). The Asia Pacific region dominates the global Pressure Sensitive Tapes Market and is expected to grow at the largest CAGR during the forecast period. Increasing industrial base in the region is driving the growth of the market.
North America is the second largest market for the pressure sensitive tapes, mainly because of the growing automotive industry and growing use of pressure sensitive tape in place of mechanical fasteners. The U.S. is the major contributor in global and North America Pressure Sensitive Tapes Market due to the increase in demand for paints and coating, which involve the use of masking tapes.
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