Pressure Sensitive Adhesive Tapes Market size is forecast to reach $8.2 billion by 2026, after growing at a CAGR of 5.2% during 2021-2026. Pressure Sensitive Adhesive Tapes (PSA) are the flexible strip of cloth, paper, and plastic coated with permanently tacky adhesive at room temperature. Surging use of Pressure Sensitive Adhesive Tapes based on ethylene-vinyl acetate, non-reactive adhesive, and Polyvinyl Chloride Tapes across various end-use industries like medical & healthcare, packaging, electrical & electronics, transportation, and construction is expected to drive the PSA market during the forecast period. Whereas, the developing aviation sector in the emerging country like China and India are also driving the growth of this market. Increasing construction activities in the Middle East region, especially in the United Arab Emirates and Saudi Arabia are also contributing to the growth of the Pressure Sensitive Adhesive Tapes share globally.
Emergence of the COVID-19
The COVID-19 pandemic has hindered the Pressure Sensitive Adhesive Tapes Market growth. The COVID-19 has a major impact on the end-use industries like construction, packaging, aviation, and automobile, which in turn decline the demand and the overall market growth in 2020. Moreover, due to the pandemic, many countries were forced into lockdown and has disrupted the supply chain, which in turn hindering the Pressure Sensitive Adhesive Tapes Market.
Pressure Sensitive Adhesive Tapes Market Segment Analysis – By Adhesive Type
Acrylic segment held the largest share of more than 30% in the Pressure Sensitive Adhesive Tapes Market in 2020. Acrylic is a translucent polymer material with excellent strength, stiffness, and optical clarity. Acrylic adhesives have superior weathering properties, excellent durability, and high shear strength compared to other transparent adhesives. Moreover, non-reactive adhesives formulated with acrylic have better long-term aging and are more resistant to solvents and environmental factors. The superior properties of acrylic adhesives make them suitable to use across various applications like screen protector membrane, outdoor advertising banner and applied car on window tinting. Moreover, in aerospace, acrylic adhesives are used in the interior & exterior of engine parts and bonding carbon fiber components with other substrates. Therefore, due to the properties and application offered by acrylic adhesives increase its demand in the PSA Tapes Market.
Pressure Sensitive Adhesive Tapes Market Segment Analysis – By Material
Plastic Films segment held the largest share of more than 45% in the Pressure Sensitive Adhesive Tapes Market in 2020. In Plastic Films, ethylene-vinyl acetate, non-reactive adhesive, Polyvinyl Chloride Tapes, and Polypropylene (PP) is most widely used for manufacturing adhesive tapes. Polypropylene or PP is an important thermoplastic material, which only consists of carbon and hydrogen. PP tapes are ideal for all general sealing tasks, as they are strong material with high strength. Whereas, these tapes are most commonly used around all applications like bonding, insulation, packaging, and protection. In the construction industry, plastic films are used in insulating electrical wires, window glazing, and mounting sink ages. Moreover, plastic film is a preferred substrate among manufacturers due to its low cost, robustness with some degree of flexibility, and has excellent chemical resistance.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=500260
Report Price: $ 4500 (Single User License)
Pressure Sensitive Adhesive Tapes Market Segment Analysis – By Type
Double Coated PSA Tapes segment held the largest share of more than 45% in the Pressure Sensitive Adhesive Tapes Market in 2020. In Double Coated PSA Tapes, Pressure Sensitive Adhesive is applied on both sides of the tape to create a strong bond between two substrates, such as metal, plastic, and paper. These Double Coated PSA Tapes are intended as an alternative to conventional rivets, screws, or glue, and provide various advantages over single coated PSA Tapes, such as design flexibility, immediate handling strength, clean aesthetic, and prevent moisture intrusion. The double-coated PSA Tapes are ideal for dynamic long-term or permanent bonding solutions and are available in a wide variety of size, types, and solvent adhesive technologies that are used in various applications such as architectural cladding, hosiery bag closure, industrial application, craftspeople, consumers, and folder. Moreover, in the electronic industry, double-coated PSA tapes are used in electronic devices to hold parts together of devices like microphones, loudspeakers, screens, and cameras. The growing consumer electronic market will increase the demand for double-coated tapes in Pressure Sensitive Adhesive Tapes Market.
Pressure Sensitive Adhesive Tapes Market Segment Analysis – By End-Use Industry
Packaging & Labeling segment held the largest share of more than 40% in the Pressure Sensitive Adhesive Tapes Market in 2020. Pressure Sensitive Adhesives Tapes are used for various packaging purposes like food packaging, consumer good packaging, and medical packaging. The ethylene-vinyl acetate and Polyvinyl Chloride Tapes are non-reactive adhesive designed for both permanent and removable applications. Removable adhesives are meant to form a temporary bond, and ideally can be removed. In packaging, both the plastic and paper-based adhesives tapes are used from packing boxes to poly shipping mailers, sealing corrugated boxes, envelopes, and cardboard containers. Whereas, growing demand for Packaging & Labeling further drives the Pressure Sensitive Adhesive Tapes Market. For instance, as per the Flexible Packaging Association report in 2019, the US packaging market was $ 170 billion in 2018 and the flexible packaging was worth $31.8 billion in the same year. Furthermore, as per the Indian Institute of Packaging (IIP) report, the packaging industry in India is expected to reach $204.81 billion by 2025 from $50.5 billion in 2019 and growing at 26.7%. Such growth in the packaging industry will further drive the market’s growth during the forecast period.
Pressure Sensitive Adhesive Tapes Market Segment Analysis – By Geography
Asia-Pacific held the largest share of more than 45% in the Pressure Sensitive Adhesive Tapes market in 2020 and is projected to witness the highest growth during the forecast period. This growth is due to the presence of emerging country like China and India, developing manufacturing and pharmaceutical industry, and growing packaging and FMCG industry. Furthermore, change in consumer preference and increasing demand for online shopping is driving the market across the region. As per the Indian Brand Equity Foundation (IBEF) report in 2020, the Indian E-commerce market was estimated to be $ 38.5 billion in 2017and is expected to grow to $ 200 billion by 2026, which will further fuel the demand for Pressure Sensitive Adhesive Tapes Market in the region.
Pressure Sensitive Adhesive Tapes Market Drivers
Growing demand from Construction Industry is Driving the Market Growth
Pressure Sensitive Adhesive Tapes have good strength, longevity and are durable, which makes them ideal for a wide variety of construction applications. In the construction industry, the Pressure Sensitive Adhesive Tapes are used to reinforce foundation membranes to keep water out, to seal the argon gas between window panes, and to support and secure ductwork. Moreover, Pressure Sensitive Adhesive Tapes also withstand moisture & high temperatures, non-reactive adhesives, and have a capability to handle wind better than mechanical fasteners, which makes these tapes a great alternative for bonding structural panels to the sides of buildings. Therefore, the rise in commercial and residential building sectors coupled with the growing population and rise in income level further drive the demand for Pressure Sensitive Adhesive Tapes. As per International Finance Corporation (IFC), the global construction industry is projected to grow at 4.2 % annually between 2018 and 2023 in terms of market value. Such growth in the construction industry will likely drive the market’s growth.
Growing Energy & Power Sector drive the market growth
The growing consumption of energy coupled with the growing population/urbanization drive the demand for power from household to industrial use, which leads to the growth of Power & Energy Industry. Thus, industrial growth further drive the growth of this market. As Pressure Sensitive Adhesive Tapes are typically used for bonding, securing, and protecting the applicant’s surface. Whereas, the use of Acrylic Foam Tapes can provide for durable attachment, bonding, and sealing solutions during solar panel and module manufacturing along with provides immediate holding strength with no process bottlenecks for drying time or clamping. Furthermore, the pressure-sensitive Adhesive Tapes are used for manufacturing and installing batteries for solar, and wind energy. Typically, a single coated Polyethylene with rubber adhesive is used in wind blades for bundling of tubes, and short-term holding of films. Likewise, Pressure Sensitive Adhesive Tapes are also used to protect blades surface from damage caused by minor impacts and erosion due to rain, sand, dirt, or other debris. Whereas, in solar power applications, these tapes are used in the production of solar modules due to tidiness and cost-effectiveness and their capacity to simplify the process. Therefore, an increase in demand for renewable energy, further drives the Energy and Power Industry growth, which in turn propels the Pressure Sensitive Adhesive Tape Market. For instance, as per the Indian Brand Equity Foundation (IBEF) report, as of August 31, 2020, installed renewable energy capacity stood at 88.79 GW, of which solar and wind comprised 35.73 GW and 37.99 GW, respectively. Moreover, in 2019, India installed 7.3 GW of solar power across the country, making it the third-largest solar market in the world and with a potential capacity of 363 GW in the future.
Pressure Sensitive Adhesive Tapes Market Challenges
Fluctuation in the Raw Material Prices & Environment Concerns
Pressure Sensitive Adhesives Tapes are produced from various raw materials like synthetic based rubber, ethylene-vinyl acetate, Polyvinyl Chloride, and Polypropylene. These raw materials are petroleum products, so any fluctuation in their price hinders the market growth. For example, fluctuation in the price of crude oil from 2015 to 2020 due to trade war, geopolitical issues between major oil and gas producing countries, and unstable economy have impacted the prices of Crude Oil, which in return hinders the market growth. Furthermore, growing awareness regarding the dumping of plastic waste in the environment as landfills and its adverse effect on the environment is also hindering the market’s growth. As soft elastomer used in these adhesives tapes are not easily recyclable, and do not dissolve in water, but rather fragment into smaller particles during the repulping process.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Pressure Sensitive Adhesive Tapes Market report. Major players in the Pressure Sensitive Adhesive Tapes Market are Adchem Corp., Nitto Denko Corp., Dow Chemical Co., Advance Tapes International Ltd., Avery Dennison Corp., 3M Co., Berry Global Group, Inc., American Biltrite Inc., Godson Tapes Pvt. Ltd., LINTEC Corp., and Shurtape Technologies, LLC, among others.
In September 2020, Dow Chemical Co. launched its INVISU™ Acrylic Adhesive portfolio in North America, with an intention to expand its focus on labelling industry. With this new launch, the Dow Chemical will expand its customer’s base in North America, which will further drive the market’s growth.
Key Take Away
The market in Europe is projected to witness a significant growth due to the high demand for personal care and consumer goods packaging. Whereas, the UK, Germany, and France are the major countries in the Region.
Fluctuation in the raw material prices of ethylene-vinyl acetate, non-reactive adhesive, and Polyvinyl Chloride Tapes, and stringent environment regulations are hindering the market’s growth.
COVID-19 acts as a major challenging factor to the growth of the Pressure Sensitive Adhesives Tapes market due to disruption of the global supply chain and declined demand from the end-use industry.
A. Adhesive Tapes Market
B. Medical Adhesive Tapes Market
For more Chemicals and Materials related reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting service
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677