Discover Pressure Sensitive Tapes Market Upcoming Trends, Growth Drivers And Challenges – Forecast To 2025|Grand View Research, Inc.
The global pressure sensitive tapes market size is poised to reach USD 75.91 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.1% during the forecast period. Increasing application scope in the medical and automotive industries is projected to augment the market over the forecast period.
The market is driven by the packaging industry on account of their high-volume usage in cardboard and container sealing. In addition, ease of application of packaging tapes as compared to substitute products such as adhesives and sealants is anticipated to further boost the demand in packaging application in end-use industries.
Technological advancements in the industry are focused towards production of premium quality products with superior performance. Development of customized product designed for use in specialized applications along with rise in use of silicone-based adhesives is estimated to emerge as a way forward for tape manufacturers across the globe.
Major players across North America, Europe, and Asia Pacific are focused on manufacturing high-quality products to compete in the international market. Companies in the market such as Tesa, 3M, and Intertape are increasing their investments in R&D for development of new technologies, such as hot melt and water based, to provide solvent-free adhesives.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/pressure-sensitive-tapes-market/request/rs4
Fluctuations in raw material prices result in a notable changes in procurement cost for manufacturers, thereby negatively influencing the growth of the market. Volatility in prices of raw materials is a result of changes in crude oil prices. Moreover, sanctions imposed on import of crude oil are also expected to limit the market from realizing its utmost potential.
Further key findings from the report suggest:
Fluctuations in raw material prices are a result of changes in crude oil prices and have a notable impact on procurement cost for manufacturers, thereby adversely affecting the growth of the market. Moreover, sanctions imposed on import of crude oils are likely to influence the overall oil prices, resulting in fluctuations in raw materials prices.
Regulations have been imposed regarding the use of adhesives and backing materials for various applications. In addition, national governments in Europe and North America have mandated listing of materials used for the production of pressure sensitive tapes, thereby increasing the complexity of regulatory framework.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-pressure-sensitive-tape-market
The demand for hot melt technology is primarily driven by their high consumption volumes in North America. Specialty products are generally manufactured using hot melt technology on account of superior product performance achieved through technology and ensures a longer product life for both indoor and outdoor applications.
The use of hot melt technology for double sided tapes, primarily for mounting in the building & construction and automotive industries, is projected to augment the market over the forecast period. Hot melt technology-based specialty tapes use a strong synthetic rubber or resin adhesive, leading to a strong bond between tape and surface on which it is applied.
Water-based adhesive technology is anticipated to witness significant growth over the forecast period on account of low cost of adhesives and application of improved adhesives to match high performance of hot melt and solvent-based adhesives. Furthermore, introduction of water-based acrylic technology is estimated to boost the demand for this technology over the forecast period.
Grand View Research has segmented the global pressure sensitive tapes market on the basis of product (backing material, adhesive chemistry), technology:
Pressure Sensitive Tapes Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
The market is driven by the packaging industry on account of their high-volume usage in cardboard and container sealing. In addition, ease of application of packaging tapes as compared to substitute products such as adhesives and sealants is anticipated to further boost the demand in packaging application in end-use industries.
Technological advancements in the industry are focused towards production of premium quality products with superior performance. Development of customized product designed for use in specialized applications along with rise in use of silicone-based adhesives is estimated to emerge as a way forward for tape manufacturers across the globe.
Major players across North America, Europe, and Asia Pacific are focused on manufacturing high-quality products to compete in the international market. Companies in the market such as Tesa, 3M, and Intertape are increasing their investments in R&D for development of new technologies, such as hot melt and water based, to provide solvent-free adhesives.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/pressure-sensitive-tapes-market/request/rs4
Fluctuations in raw material prices result in a notable changes in procurement cost for manufacturers, thereby negatively influencing the growth of the market. Volatility in prices of raw materials is a result of changes in crude oil prices. Moreover, sanctions imposed on import of crude oil are also expected to limit the market from realizing its utmost potential.
Further key findings from the report suggest:
- Packaging tapes represented over 63.0% of the overall volume in 2017 on account of their increasing use in sealing, enclosing, bundling, and wrapping applications of containers, cardboard boxes, and bottles
- Specialty pressure sensitive tapes are likely to register a CAGR of 4.3% in terms of revenue from 2018 to 2025 owing to their spiraling demand in the medical industry for sustainable and easy to use wound care solutions
- Woven & non-woven backing materials commanded over 18.0% of specialty tapes volume share in 2017, owing to their properties such as stretchability, bacterial barrier, and absorbency, which facilitate their use in medical and wound care applications
- Acrylic is the most widely used adhesive chemistry for manufacturing of specialty pressure sensitive products. It is poised to post a CAGR of 4.5% in terms of revenue during the forecast period as it offers better tacking properties and high UV, plasticizer, and solvent resistance
- The Asia Pacific pressure sensitive tapes market accounted for 35.6% of the overall revenue in 2017, on account of booming manufacturing sector and presence of major manufacturers in the electronics, automotive, and medical industries in the region
- Presence of a large number of players and introduction of advanced products for specialized applications coupled with price discrimination by manufacturers in China are bolstering the competitive rivalry in the market.
Fluctuations in raw material prices are a result of changes in crude oil prices and have a notable impact on procurement cost for manufacturers, thereby adversely affecting the growth of the market. Moreover, sanctions imposed on import of crude oils are likely to influence the overall oil prices, resulting in fluctuations in raw materials prices.
Regulations have been imposed regarding the use of adhesives and backing materials for various applications. In addition, national governments in Europe and North America have mandated listing of materials used for the production of pressure sensitive tapes, thereby increasing the complexity of regulatory framework.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-pressure-sensitive-tape-market
The demand for hot melt technology is primarily driven by their high consumption volumes in North America. Specialty products are generally manufactured using hot melt technology on account of superior product performance achieved through technology and ensures a longer product life for both indoor and outdoor applications.
The use of hot melt technology for double sided tapes, primarily for mounting in the building & construction and automotive industries, is projected to augment the market over the forecast period. Hot melt technology-based specialty tapes use a strong synthetic rubber or resin adhesive, leading to a strong bond between tape and surface on which it is applied.
Water-based adhesive technology is anticipated to witness significant growth over the forecast period on account of low cost of adhesives and application of improved adhesives to match high performance of hot melt and solvent-based adhesives. Furthermore, introduction of water-based acrylic technology is estimated to boost the demand for this technology over the forecast period.
Grand View Research has segmented the global pressure sensitive tapes market on the basis of product (backing material, adhesive chemistry), technology:
Pressure Sensitive Tapes Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
- Specialty tapes
- Automotive
- Aerospace
- White goods
- Electronics
- Semiconductors
- Electrical
- Paper & printing
- Construction
- Medical
- Hygiene
- Retail & graphics
- Others (Sports, defense, etc.)
- Packaging tapes
- Consumer tapes
- Specialty tapes
- Hot melt
- Water based
- Solvent based
- Radiation cured
- Other tapes
- Hot melt
- Water based
- Solvent based
- Radiation cured
- Specialty tapes
- Woven/Nonwoven
- Polyvinylchloride (PVC)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Foam
- Metal
- Others
- Specialty tapes
- Acrylic
- Rubber
- Silicone
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Comments
Post a Comment