Global Pressure Sensitive Tapes Market Information by Backing Material (Paper, PVC, Polypropylene, and others) by Product (Masking, Carton Sealing, Electrical, Double-sided, and others) by Application (Healthcare, Packaging, Construction, Manufacturing, and others) and Region – Forecast to 2022
Pressure Sensitive Tapes Market – Outlook
Pressure sensitive tapes are being increasingly adopted across a wide variety of applications because of their convenience factor. Market Research Future, a firm which specializes in market reports regarding the packaging and transport sector, among others; of late, released a report on this market. The segment is expected to witness more than average revenues in USD million by the end of the forecast period. It should grow at a remarkable CAGR from 2016 to 2022.
Pressure sensitive tapes are used to bond various surfaces with each other and are extremely versatile in their usage. As their applications grow at an unparalleled pace, with new uses being discovered every day, industry demand is also rising. Due to their relatively low costs as compared to other methods of adhesion, the demand for this sector continues to escalate as businesses and individuals look out for cost-effective solutions. Their adoption in the electronics sector is instrumental to sector growth. Considerable expansion in the packaging sector has also raised the market shares of pressure sensitive tapes.
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Latest Industry News:
Sep 2017 – ‘Intertape Polymer Group Inc.’ is spending millions of dollars to expand a facility near Danville, Va.; a project that will create more than a dozen jobs. The company, with corporate offices in Montreal and Sarasota, Fla.; already has 300 employees in Pittsylvania County. The new $7 million project is expected to add 15 jobs. Its latest operation involves spending worth $25 million in recent upgrades and expansion at the location.
Oct 2017 – ‘Bron Aerotech,’ an aerospace specialty materials supplier has been collaborating with Northrop Grumman Corporation’s F/A-18 program leaders for providing innovative solutions to support F/A-18 affordability. Their 40 year old partnership in producing pressure sensitive tapes & cutting edge innovations has driven both affordability and production.
June 2017 – ‘Intertape Polymer Group Inc.’ announced the acquirement of major stakes in Capstone Polyweave Private Limited, a newly-formed Indian enterprise. The Indian company is expected to contribute to greenfield investments from Capstone. Intertape Polymer Group is a recognized leader in the development, manufacture, and sales of different paper and film based pressure-sensitive and water-activated tapes.
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Global Competitive Analysis
With new industry players entering the market; a trend of solid, volume-driven growth has been observed. The addition of novel and high-tech products has also been witnessed. Companies aim to gain further traction by experimenting in growth strategies.
Long-term growth prospects can be tapped by indulging in process developments and financial flexibility. The key players of global pressure sensitive tapes market include Avery Dennison Corporation, 3M Company, Berry Plastics Corporation, American Biltrite Inc., and Intertape Polymer Group.
The worldwide pressure sensitive tapes market is divided into backing papers, products, applications, and regions.
Backing Papers: Paper, PVC, polypropylene, and others.
Products: Masking, carton sealing, electrical, double-sided, and others.
Applications: Healthcare, packaging, construction, manufacturing and others.
Regions: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Detailed Regional Analysis
The global pressure sensitive tapes market is split into North America, Europe, APAC, and Rest of the World (RoW). APAC dominates, with its fastest growing market worldwide. It will expand at an incredible CAGR over the forecast period. The region should display rapid growth in the healthcare and construction sectors. Increased governmental initiatives to improve the healthcare sector also fuel this market.
However, North America holds impressive shares and is estimated to grow rapidly till 2022. It is followed by Europe, reported to grow at an encouraging CAGR till the same year.
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