Global Pressure Sensitive Tape Market is anticipated to reach USD 69.26 billion over the forthcoming period. Pressure sensitive tapes are also known as “PSA Tape”, or “Adhesive Tape”. Pressure sensitive tape is an adhesive tape that could be stuck with application of pressure, without the solvent (such as heat or water) for initiation. It is mainly used in the institutions, industry, office, home for several purposes.
The factors that propel the growth of the Pressure Sensitive Tape industry include increasing demand for Box/sealing, extensively used for packaging, labelling, sealing, electric insulation, general-purpose, and stationery applications. On the other hand, there are factors that may hamper the growth of the market including severer rules concerning solid waste disposable. Pressure Sensitive Tape Market is anticipated to grow at a significant CAGR of 6.1% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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Pressure Sensitive Tape industry may be explored by backing material type, product type, application and geography. The market may be explored by backing material type as PVC, Polypropylene, Paper, and Others. The “Polypropylene” segment led the Pressure Sensitive Tapes Market in 2016 and is anticipated to maintain its dominance by 2022 due to cost effectiveness, high-tear resistance in mid-direction & cross-direction, and well stability skill.
The key application that could be explored in the market include Building & construction, Packaging, Electrical & electronics, Health & hygiene, Automotive, and Others. The “Packaging” segment led the pressure sensitive tape industry in 2015 and is anticipated to maintain its dominance by 2022 due to its biodegradability and low carbon footprint. The industry could be explored based on product type as Masking Tape, Electrical Tape, Carton sealing Tape, Double sided Tape, and Others.
North America accounted for the major share of the Pressure Sensitive Tape Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth includes rising building activities in the US and organization growth in Canada and Mexico. Additionally, development in the US food & beverages segment is expected to drive the demand in the forecast period. North America is followed by Asia-Pacific.
Some of the key players that fuel the growth of the Pressure Sensitive Tapes industry comprise3M, Kruse Adhesive Tape, Vibac Group S.p.a., Nitto Denko Corporation, H.B.Fuller, tesa SE, LINTEC Corporation, Surface Shields, Saint-Gobain, CCT Tapes, NICHIBAN CO., LTD, Advance Tapes International, Scapa Group plc., Lohmann GmbH & Co.KG., CMS Group of Companies. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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