The report of pressure sensitive tapes & labels market segmented by backing material (polypropylene, polyvinyl chloride, paper, cloth), by adhesion type (single sided, double sided, adhesive transfer), by product (tapes, labels), by end-user (food & beverage, healthcare, logistics, automotive & transportation, general manufacturing) and region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) is expected to reach US$ 160Bn by 2027, at a CAGR of 6.8 % during a forecast period.
Increasing consumer demand for displaying important information about products content and nature has also led to a high demand for labels. Steady demand for packaged food products in the U.S. and other mature markets in Europe will also boost product market growth throughout the forecast timeframe. Lifestyle changes, long working hours, and ease of consumption has led to the growing demand for packaged food products not only in developed countries, but in emerging economies as well.
Double-sided tapes segment is dominating the global pressure sensitive tapes & labels market.
Double-sided tapes will be the wildest growing tape product, with gains promoted by their further displacement of traditional bonding and joining technologies. These contain glues and mechanical fasteners, in applications ranging from automotive, aerospace, and appliance assembly to the manufacture of telecommunication and electronic equipment.
Healthcare segment is leading the global pressure sensitive tapes & labels market.
Healthcare is a significant end-user in the global pressure sensitive tapes & labels market which will grow by a moderate CAGR during the forecast years. The product has many uses in the healthcare industry including surgical applications, wound care, medical device assemblies, ostomy, diagnostics, and electro medical. This segment earned a revenue of over US$ 7Bn in 2017.
The Asia Pacific has the largest market share for global pressure sensitive tapes & labels market during the forecast period.
The Asia Pacific taking the lead in terms of share. Factors such as rapid industrialization, growing population, and steady expansion of Vietnam, Indonesia, India, and other economies could benefit the regional pressure sensitive tape market. The emerging region could also bank on the availability of strong manufacturing bases in Japan and China to gain a larger share of the global pressure sensitive tapes & labels market.
Key players operating in global pressure sensitive tapes & labels market, Avery Dennison Corporation, 3M, Scapa Group, Berry Global Inc., American Biltrite Inc., DeWAL, Gaska Tape Inc., LINTEC Corporation, MACtac, CCL Industries, Constantia Flexibles, COVERIS, Inland, Fuji Seal International, Inc., UPM Raflatac, and others.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global pressure sensitive tapes & labels market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global pressure sensitive tapes & labels market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global pressure sensitive tapes & labels market positioning of competitors.
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