Published on : Feb 15, 2018
Albany, New York, February 15, 2018: Based on pressure sensitive tapes, a new informative report titled “Pressure Sensitive Tapes - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” has been added into the repository of Market Research Hub (MRH) recently. According to the report, the global pressure sensitive tapes market is projected to reach a valuation of US$96,105.0 mn by 2024, expanding at a CAGR of 6.7% between 2016 and 2024.
Research Inclusion and Key Highlights
This 163-page report shows a clear overview of the market, including the drivers that are helping the growth of the market, restraints that are limiting the market and new trends that are following the global pressure sensitive tapes market. This in-depth analysis of the market includes market forecast for the year 2017-2025 while considering 2016 as the base year. In terms of geography, the report analyzes current and forecast demand for pressure sensitive tapes in the Asia Pacific, Europe, North America, Latin America, and Middle East & Africa regions.
Pressure sensitive tape is an adhesive substance that sticks to a given surface on application of light pressure. It is used across various applications in offices, homes, restaurants, institutions, and industries. In the present time, the research finds that these tapes are widely used in the construction industry for applications associated with ceramic tiles, concrete, floorings, panels, and roofing. Therefore, the demand for pressure sensitive tapes has continued to rise over the years as application areas have increased.
Moreover, the readers will find the global pressure sensitive tapes market analysis divided into various segments and sub-segments which are backing material, application, product, and geography. In terms of backing material, the pressure sensitive tape market is divided into paper, PVC, polypropylene, and others. On the basis of product, the segments of the market are single-sided tape, transfer tape, double-sided tape, carton sealing tape, and other. In terms of revenue, specialty tape segment is expected to be the key product segment in terms of growth.
Application-wise segmentation of the study reveals that the steadily expanding electronics industry employs pressure-sensitive tapes and adhesives to install parts directly in devices. Thus, providing a significant boost to the market.
Asia Pacific Region to Display Lucrative Opportunities
The Asia Pacific is the leading regional market for pressure sensitive tapes and it is expected to retain its dominant position until the end of the forecast period in 2024. Key factors favoring the growth of pressure sensitive tape market in the region include technological advancements, easy availability of raw materials, and strong manufacturing base.
Some of the key players in the global pressure sensitive market are Nitto Denko Corporation, Henkel AG & Company KGaA, Lintec, Adchem Corporation, Avery Dennison Corporation, 3M, and Canadian Technical Tape Limited among others.
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