The global pressure sensitive tape market size was valued at USD 51.42 billion in 2017. Expanding construction, automotive, and healthcare sectors have resulted in an increased demand for pressure sensitive tapes over the past few years.
Noise reduction, vibration dampening, elimination of surface refinishing, reduced assembly time, elimination of mechanical fasteners for cosmetic superiority, uniform thickness, and gap filling properties has increased its popularity for automotive applications. Technological advancement in adhesives and low cost as compared to other fastening systems is expected to increase the global pressure sensitive tapes market size over the projected period.
At a compound annual growth rate of 6.1 %, the size of the worldwide Pressure Sensitive Tape market is projected to reach $ 17.6 billion in 2030.
Over the past few years, advancement in packaging technology has encouraged manufacturers to expand their distribution network and transport bulk quantity of products all over the world. Carton boxes are the preferred secondary packaging products by virtue of its compatibility and easy availability. Growing adoption of pressure sensitive tapes for sealing of carton boxes are expected to increase their market volume and revenues over the projected period. The global corrugated boxes market size exceeded USD 60 billion in 2017. Strong growth of the electronics goods and food & beverage industries is expected to increase the market penetration of carton boxes, which in turn, is expected to increase the global pressure sensitive tapes market reach over the coming years.
The global pressure sensitive tape market size for automotive application accounted for more than 6% of overall market volume and revenue share in 2017. Growing adoption in roof molding, side fenders, rear spoilers, plate panels, outer belt moldings, side mirrors, rocker panel, bumper side moldings, and emblem & nameplates is expected to increase the utilization of double-sided tapes in automotive applications over the projected period. Increased application in electrical & electronics and construction industry to protect electrical components by virtue of high heat resistance and dielectric strength is expected to increase market expansion of electrical tape over the projected period. Growing healthcare and automotive industry in Europe is expected to increase pressure sensitive tapes market reach over the projected period. Increased application in wound care dressings, sealing surgical drapes, medical equipment, and diagnostic devices is expected to increase market penetration of pressure sensitive tapes in medical applications over the coming years.
Growing opportunities for commercial, residential, and industrial construction activities in developing economies is expected to drive the global pressure sensitive tape market. Asia Pacific pressure sensitive tapes market accounted for more than 50% of overall market share in 2017. The growing automotive industry in India, China, and Japan is expected to amplify market growth over the coming years. Trends in the electronics industry such as robotics & automation, virtual reality, IoT technology for household appliances, and rising demand for smart TV’s is expected to provide lucrative growth in the global electronics industry, thus, in turn, is projected to encourage manufacturers to adopt pressure sensitive tapes for protecting electronic components.
The global pressure sensitive tapes industry is fragmented in nature as the leading five manufacturers operating in this industry accounted for nearly 30% of overall share in 2017. Prominent players operating in global pressure sensitive tape industry are 3M, Avery Dennison, Nitto Denko, Lohmann GmbH, Nichiban, Lintec, Intertape Polymer, Shurtape, tesa, and Advance Tapes International.
Manufacturers operating in this industry are adopting M&A and new product development strategies to strengthen their distribution channel and sustain in the competitive environment. For instance, in 2016, Avery Dennison, an American manufacturer, and distributor of pressure sensitive adhesive materials acquired Mactac. This acquisition is expected to expand Avery Dennison’s business in Europe and Asia. Moreover, in August 2018, Intertape Polymer Group, manufacturer and distributor of film and paper-based pressure sensitive tapes acquired Polyair Inter Pack, a Canada-based manufacturer engaged in integrated packaging systems.
Pressure Sensitive Tape Market Scope
|Revenue forecast in 2030
|$ 17.6 billion
|CAGR of 6.1% during 2020-2030
|Backing Material, Product, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Intertape Polymer Group, Adchem Corporation, Henkel AG & Company KGaA, TESA SE, 3M, Avery Dennison Corporation, Canadian Technical Tape Limited, Lintec Corporation, and Nitto Denko Corporation.
Key segments of the global pressure sensitive tapes market
Backing Material Overview (USD Billion)
- Polyvinyl Chloride
Product Overview, (USD Billion)
- Carton Sealing Tapes
- Masking Tapes
- Double Sided Tapes
- Electrical Tape
Application Overview, (USD Billion)
- Infrastructure & Construction
- Electrical & Electronics
- Healthcare & Medical
Regional Overview, (USD Billion)
- North America
- Middle East & Africa
- Latin America