December 28, 2018: Adroit Market Research launched a report on the, “Global Pressure Sensitive Tape Market Size 2017 By Backing Substrate (Paper, Polypropylene, Polyvinyl Chloride, Others), By Product (Masking Tapes, Carton Sealing Tapes, Electrical Tape, Double Sided Tapes, and Others), By Application (Infrastructure & Construction, Automotive, Packaging, Electrical & Electronics, Healthcare & Medical, Others), By Region and Forecast 2018 to 2025”. The study covers the global pressure sensitive tapes market value and volume for a period ranging from 2015 to 2025. Drivers, restraint, and opportunities have been covered in the study.
The global pressure sensitive tape market size is estimated to reach USD 83.85 billion by 2025. Growing application in automotive, building & construction, electrical & electronic, and medical industry is expected to propel the demand for pressure sensitive tapes over the projected period. Rising health concerns coupled with increased healthcare spending around the world is expected to augment the consumption of surgical tapes, athletic tapes, and medical equipment tapes over the projected period.
Expanding international trade, a strong global economy, and technological advancement in packaging solutions has increased market penetration of carton sealing tapes over the past few years. In 2017, carton sealing tapes accounted for more than 60% of the global pressure sensitive tape market share. Rising production of electronic & telecommunication equipment has increased market expansion of double-sided tapes over the past few years.
Huge investment to strengthen manufacturing industry and untapped market in the Middle East & African countries such as Israel, South Africa, Saudi Arabia, and Turkey is expected to provide a potential opportunity for manufacturers to expand their production facilities. Increased building & construction expenditure in Turkey by virtue of incentives offered by the government, housing loan campaigns, and regulations in value-added tax rates is projected to increase demand for masking tapes over the coming years.
North America accounted for more than 20% of overall market share in 2017. North America and Europe are expected to be a mature market for pressure sensitive tapes industry over the coming years. However, increased manufacturing output and growing consumer electronics industry in U.S., Germany, UK, and Italy is expected to increase sales volume of carton sealing tapes over the coming years.
Global Pressure Sensitive Tape Market Size, By Application, 2025 (%)
3M, LINTEC Corporation, NICHIBAN Co., Ltd., Nitto Denko Corporation, Intertape Polymer Group, Avery Dennison Corporation, tesa SE, Shurtape Technologies, Lohmann GmbH & Co. KG and Advance Tapes International are the leading players present within the global pressure sensitive tapes market. Global pressure sensitive tape industry is consolidated in North America. However, it is fragmented in Asia Pacific and Middle East & Africa by virtue of a large number of manufacturers are present in these regions.
Manufacturers are adopting M&A strategies in order to expand their global presence and stay competitive in the industry. For instance, 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.
Key segments of the global pressure sensitive tapes market
Backing Material Overview, 2015-2025 (Million Square Meter) (USD Million)
- Polyvinyl Chloride
Product Overview, 2015-2025 (Million Square Meter) (USD Million)
- Carton Sealing Tapes
- Masking Tapes
- Double Sided Tapes
- Electrical Tape
Application Overview, 2015-2025 (Million Square Meter) (USD Million)
- Infrastructure & Construction
- Electrical & Electronics
- Healthcare & Medical
Regional Overview, 2015-2025 (Million Square Meter) (USD Million)
- North America
- Middle East & Africa
- Latin America