The global Pressure Sensitive Tapes market is forecast to reach USD 82.94 Billion by 2027, according to a new report by Reports and Data. Increasing concerns regarding the light-weighting of automobiles across the globe have led to the increasing adoption of tapes. Traditionally used products, such as fasteners and adhesives, are being replaced by pressure sensitive tapes, due to the benefits they offer.
Frequent fluctuations in raw material prices have a significant impact on the manufacturers’ procurement cost, which can hamper the demand for the market. Increasing sanctions on the import of crude oil affect the overall oil prices, which can also lead to reduced market size for pressure sensitive tapes. The market also faces a threat from the increasing number of substitutes present for the product, such as sealants and fasteners. The growing use of these in various industries can lead to reduced demand for Pressure Sensitive Tapes.
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Further key findings from the report suggest
- Consumer Tapes occupied 22.2% of the market share in 2019. This finds extensive applications in attaching, temporary mounting, and bonding. Plastic backing with a medium to strong adhesive is used for manufacturing the product. Increasing demand from residential and commercial interior modifications is expected to drive the growth for this segment.
- In terms of material, Foam occupied 17.8% of the market share in 2019. It is one of the majorly used products in the specialty products market. In finds increasing applications in mounting and bonding applications in various cars in the mid to high-end range. It provides benefits, such as superior water, aging, and UV resistance, which leads to increasing demand for the product.
- In terms of End-Use, the Medical industry occupied 8.40% of the market share in 2019. Pressure Sensitive Tapes are used in the industry to secure dressings and bandages on wounds. These are also used to prevent injuries in sports.
- The market in Latin America is witnessing a decline in demand due to the low manufacturing ability of the region, along with a rapid economic decline in many countries.
- In terms of Technology, Hot Melt occupies a significant market share. This is primarily due to the extensive use of the technology in Specialty products, as it provides benefits, such as superior product performance and long life, in both outdoor and indoor products. The technology provides a strong bond between the tape and the surface on which it is applied, as it uses a durable resin or synthetic adhesive.
- Key participants include Scapa Group PLC, Sika AG, Arkema Group, DOW Corning, 3M, H.B. Fuller, Avery Dennison Corporation, Tesa, Intertape, and Henkel AG & Company KGAA, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/pressure-sensitive-tapes-market
For the purpose of this report, Reports and Data have segmented into the global Pressure Sensitive Tapes market on the basis of product, Material, End-Use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Specialty Tapes
- Packaging Tapes
- Consumer Tapes
Material Outlook (Revenue, USD Billion; 2017-2027)
- Woven/Nonwoven
- Polyvinyl Chloride
- Polypropylene
- Polyethylene Terephthalate (PET)
- Foam
- Metal
- Others
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Automotive
- Aerospace
- White Goods
- Electronics
- Semiconductors
- Electrical
- Paper and Printing
- Construction
- Medical
- Hygiene
- Retail and Graphics
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- The U.S.
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
The materials & chemicals industry consists of companies that engage in the manufacture of a wide range of industrial and commercial products using various chemicals and raw materials such as oil, natural gas, metals, and minerals. Growing demand for consumer products such as soaps, perfumes, detergents, extensive usage of chemicals and raw materials in industries including buildings & construction, food & beverage, and agriculture, and increasing demand for environmentally sustainable raw materials and chemicals are among the key drivers for the industry growth. Rising environmental awareness, technological advancements in various chemical products, development of organic chemicals and materials, growing use of high-performance agrochemicals and specialty chemicals are other major factors bolstering the growth of this industry.
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