Pressure Sensitive Tapes Market Size, Competitive Dynamics, Segments, Global Outlook till 2023
Pressure Sensitive Tapes Market Size
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 Size is estimated to grow at a CAGR of 6.1% during the estimated period, 2017-2023.
Key Players
Some of the prominent players in the Pressure Sensitive Tapes Market Size 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.
Segmentation
Global Pressure Sensitive Tapes Market Size 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. Furthermore, the high demand for low-cost backing materials for producing the tapes have also enhanced the growth opportunities for paper tapes in the industrial, electronics, and construction sectors. On the basis of the product, the market has been segmented as Masking, Carton Sealing, Electrical, Double-sided and other. Carton Sealing tapes accounted for the largest market share in 2016 owing to its compatibility with various sterilization forms and non-toxic nature. Double sided tapes are expected to witness the highest growth over the forecast period. It is more durable, reliable and has effective bonding, and fixing properties. Moreover, high consumption this tapes from construction sector will also fuel the market growth.
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 Size. High growth in packaging industry across the globe is a major factor driving the demand of the market.
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