Key Highlights:
·
In terms
of value, the global Pressure Sensitive Tapes market was stood around US$ 65.0
Bn in 2018 and is anticipated to expand at a CAGR of
more than 6% from 2019 to 2027
·
Based on
product type, carton sealing tapes held a major share of the market in 2018
owing to increasing online retailing market and growing global cargo scenario
·
On the
basis of backing material, polypropylene was the major material used in
pressure sensitive tape in 2018. It is accounted for more than 50% of
the total Pressure Sensitive Tapes usage in 2018.It is projected to
exhibit significant growth rate during the forecast period 2019 to
2027
·
In terms
of end-user industry, automotive was the dominant end-user industry accounted
for more than 20% of the total Pressure Sensitive Tapes market
in 2018. It is likely remain dominant application between 2019 and 2027
·
Based on
region, Asia Pacific held major share in 2018 and is expected
to grow at significant rate of more than 7% compared to other
region from 2019 to 2027. Strong economic growth
in China and India followed by increase in online retailing where pressure
sensitive tapes are majorly utilized is the major factor which drives the
demand for pressure sensitive tapes in Asia Pacific
·
North
America and Europe are matured markets expected to exhibit moderate growth rate
during the forecast period
·
Growing
urbanization, increase in global trade relation followed by increase in
adoption of online retailing are the major factor which are anticipated to
drive the global pressure sensitive tape demand in near future
Request A Sample- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=17087
VOC Emissions during
Manufacturing and Volatility in Raw Material Prices May Hamper Overall Demand
·
There
exist major environmental concerns regarding the manufacture of tapes,
particularly pressure sensitive tapes
·
Environmental
regulations affect the pressure-sensitive tape technology in two areas:
manufacturing process and product design
·
While
forming an adhesive layer on the backing material, adhesives such as
low-viscosity natural rubber and resins are coated by solvents such as xylene
and toluene. Without proper containment devices, these solvents are simply released
into the atmosphere. Moreover, energy required to evaporate these solvents
emits carbon dioxide into the atmosphere
·
Solvent-based
adhesives contain a significant level of volatile organic compounds (VOCs),
which can lead to smog formation and asthma irritations. It is often a reason
for environmental concerns worldwide. Hence, emission of VOCs during production
of tapes is likely to act as a restraint for the pressure sensitive tapes
market
·
However,
the innovation of hot-melt, pressure-sensitive adhesives and water-based
acrylate adhesives that require no solvent and consume minimum energy can
mitigate the restraint arising out of environmental regulations
·
On the
other hand, volatility in the price of raw materials due to changing price of
crude is likely to affect the development of the market adversely over the
assessment tenure, from 2019 to 2027. In addition,
regulations pertaining to the use of backing materials and adhesives for
several applications are factors that could add to the complications of the
regulatory framework
·
This is
also major factor which may hamper the overall demand for Pressure Sensitive
Tapes during the forecast period 2019 to 2027
Purchase A Report- https://www.transparencymarketresearch.com/checkout.php?rep_id=17087<ype=S
Asia Pacific Expected to be
Highly Lucrative Region of Global Pressure Sensitive Tapes Market
·
In terms
of volume and value, Asia Pacific held the largest share of the global pressure
sensitive tapes market in 2018 across the globe. Boom in the
manufacturing sector, the electronics and electrical sector, motor vehicle
assembly, and the accelerating construction and packaging industry in the
region is fueling the demand for pressure sensitive tape
·
In terms
of value, Asia Pacific was estimated to hold for more than 40% share
of the global pressure sensitive tapes market in 2018. This trend
is anticipated to continue during the forecast period 2019 to 2027
·
China and
India are the key countries which are expected to drive the pressure sensitive
tapes market demand in near future. These countries accounted for combined
share of more than 60.0% in 2018 in Asia
Pacific region
Global Pressure Sensitive Tapes
Market -Key Developments
·
In 2018, Avery
Dennison Corporation has introduced a new line of acrylic pressure sensitive
adhesive (PSA) tapes which offers a high performance alternative to
conventional bonding methods used to install resilient flooring is now
available in North America
·
The new
line of acrylic PSA tapes makes life easier for flooring manufacturers,
converters, builders, contractors and installers by eliminating cure time and
simplifying the floorings’ installation
Global Pressure Sensitive Tapes
Market: Competition Landscape
·
The
global pressure sensitive tape market features a highly fragmented competitive
landscape with the presence of a large number of global and regional players.
Some of the key players in the global pressure sensitive market are Nitto
Denko Corporation, Lintec, Avery Dennison Corporation, Henkel AG & Company
KGaA, 3M, Adchem Corporation, and Canadian Technical Tape Limited among others
Get Trending Report- https://www.prnewswire.com/news-releases/estimates-of-substantial-rise-in-demand-for-electric-vehicles-to-reduce-carbon-footprint-to-create-immense-growth-opportunities-in-lithium-ion-battery-packs-market-explains-projected-worth-to-surpass-whopping-us-120-3-bn-by-203-301287445.html
