Pressure Tapes Market to Thrive in APAC
Summary
Global Pressure Tapes Market information, by Backing Material (Paper, PVC, Polypropylene), Product (Masking, Carton Sealing, Electrical, Double-sided), Application (Healthcare, Packaging, Construction, Manufacturing) and Region – Forecast to 2023
Pressure Tapes Market Overview
Pressure Tapes adhere to various surfaces with light pressure without the need for solvent, water, or heat to activate the adhesive present in them. They are generally termed as self-adhesive, sticky tape, or PSA tape and are used for wide-ranging purposes. Market Research Future (MRFR) has recently published an in-depth report on the global Pressure Tapes market and has projected a CAGR of 6.1% over the forecast period of 2017-2023.
Growth in healthcare and medical are the key drivers of Pressure Tapes market. With increasing health risks and diseases, the demand for medical products have gone, which in turn induces the market for Pressure Tapes globally. In emerging economies like India, Malaysia and Indonesia, there is increased health awareness and government initiatives which fuels the market for sensitive tapes used in medical and healthcare sector. Furthermore the increased application across the sectors such as food & beverages, packaging, construction, automotive has led to the growth Pressure Tapes.
Competitive Landscape
- American Biltrite Inc.
- LINTEC Corporation
- Scapa Group
- Adchem Corporation
- Jonson Tapes Limited
- Shurtape Technologies, LLC
- Intertape Polymer Group
- Zhejiang Yonghe Adhesive Products Company Limited
- Tesa SE
- 3M Company
- Nitto Denko Corporation
- Advance Tapes International Limited
- Berry Plastics Corporation
- Avery Dennison Corporation
are the key players in the Pressure Tapes market.
Pressure Tapes Market Segmentation
The Pressure Tapes Market has been segmented based on backing material, product, and application.
By backing material, the Pressure Tapes market has been segmented into paper, PVC, polypropylene, and others. The polypropylene segment dominated the market in 2016 and is anticipated to retain its position over the forecast period. Superior properties of polypropylene such as moisture and chemical resistance, high impact and fatigue resistance, as well as resistance to electricity, boost its demand. The paper segment is expected to register the highest CAGR over the forecast period. Paper is a low-cost backing material due to which it experiences demand from diverse industries such as industrial, construction, and electronics. The increasing need to manufacture light-weight vehicles has considerably increased the demand for paper, which is fostering the growth of the segment.
By product, the Pressure Tapes market has been segmented into masking, carton sealing, electrical, double-sided, and other. The carton selling tapes segment held the foremost share of the market in 2016. Carton selling tapes are non-toxic in nature and are compatible with various sterilization forms due to which they experience heightened demand. The double-sided tapes segment is expected to be the fastest growing segment over the forecast period. Double sided tapes are durable, reliable, and possess effective fixing and bonding properties. They are extensively used in the industry.
By application, the Pressure Tapes market has been segmented into healthcare, packaging, construction, manufacturing, and others. Application-wise, the packaging segment leads the market.
Regional Analysis
Region-wise, the Pressure Tapes market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The APAC market is expected to domineer the global Pressure Tapes market over the forecast period. Expanding industrial activities in the region provides attractive opportunities for the growth of the market. Manufacturing activities are gradually being shifted to APAC due to the ease of carrying out operations in the region. The availability of relatively cheap labor, supportive government regulations, and availability of raw materials at subsidized rates are favoring the shift. The expanding construction industry also acts as a motivating force to the growth of the market.
North America has secured the second spot in the global Pressure Tapes market. An established automotive industry generates substantial demand for Pressure Tapes. Moreover, the region has demonstrated heightened acceptance of Pressure Tapes in place of mechanical fasteners, which is contributing to the growth of the market.
Europe is a key market for Pressure Tapes. Augmented demand from the consumer goods industry and personal care industry has substantiated the growth of the market in the region. Rapidly expanding packaging industry in the UK, Spain, Germany, and France is inducing high demand for packaging tapes in the region.
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