Global Pressure Sensitive Tape Market: Increased Usage in Miniaturized Electronics to Bode Well for Future Growth, Says TMR

News provided by

Transparency Market Research

Jan 18, 2018, 10:30 ET

ALBANY, New York, January 18, 2018 /PRNewswire/ --

In the highly competitive global pressure sensitive tapes market, companies are lending more attention to R&D activities aimed at the development of biodegradable pressure sensitive adhesive tapes to gain an edge against competitors, observes Transparency Market Research in a recent report. With stringent environmental regulations bearing upon several decisions in the packaging industry, which happens to be one of the leading consumers of a variety of pressure sensitive tapes, biodegradable products are witnessing unprecedented demand globally. This trend could emerge as one of the key growth opportunities for aspiring companies in the market.

According to the recent TMR report, the global pressure sensitive tape market was valued at US$53,906.5 mn in 2015 and is estimated to reach US$96,105.0 mn by 2024, expanding at a CAGR of 6.7% between 2016 and 2024. In terms of volume, the market is expected to expand to 69,745.2 mn sq m in 2024.

Get a PDF Brochure for this Research Report at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=17087

Asia Pacific to Hold on to Its Leading Position 

Geographically, the market in Asia Pacific presently dominates the global pressure sensitive tapes market both in terms of revenue and volume. The regional market is likely to remain strong and expand at a CAGR of 7.3% in terms of revenue over the forecast period. Cartoon sealing tape was the leading product segment of the pressure sensitive tape market in 2015. The segment accounted for more than 60% share the global volume in 2015. In terms of revenue, specialty tape segment is expected to be the key product segment in terms of growth, expanding at a CAGR of 7.7% during the forecast period.

Rising Set of Application Areas to Benefit Market 

Pressure sensitive tapes are rapidly replacing fasteners, screws, bolts, and rivets in vehicles and electronic devices as focus on reducing the weight and form factor of the final product has increased in the recent yeas. The steadily expanding electronics industry employs pressure-sensitive tapes and adhesives to install parts directly in devices. Thus the trend of miniaturization of electronic devices, especially cell phones, portable personal computers, and tablets is expected to emerge as a leading growth factor for the adhesive tapes market in the next few years.

Rising usage of pressure sensitive tapes across the packaging industry is also proving highly beneficial for the market. Thus the promising growth of the global consumer goods industry is likely to drive the global adhesive tapes market during the forecast period on account of suitability of adhesive tapes in packaging application.

Request a Custom Report at https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=17087

Fluctuating Raw Material Costs to Negatively Impact Market Development 

Raw materials used for the production of pressure sensitive tapes are petrochemical by-products, the prices of which depend on crude oil prices. Regional supply-demand gap, production output, currency fluctuations, GDP growth, and unpredictable geo-political conflicts have a notable bearing on the global market for adhesive raw materials. Raw materials such as polymers and tackifier resins used in several technologies are primarily influenced by changing supply-demand scenario.

Unprecedented changes in prices of raw materials, followed by fluctuations in crude oil prices are likely to impact the pressure sensitive tapes market. Environmental regulations also affect the pressure-sensitive tape technology, especially in two areas: manufacturing process and product design. Strict regulations related to the production of non-ecofriendly tapes such as PVC is monitored by government of several developed nations such as the U.S, which could have a negative bearing on the market.

This assessment of the global pressure sensitive tapes market is based on a recent market research report by Transparency Market Research, titled "Pressure Sensitive Tapes (Product - Cartoon Sealing Tape, Masking Tape, Double Sided Tape, and Specialty Tape; Backing Material -Polypropylene, Paper, Polyvinyl Chloride, Others;  End-user - Food and Beverage, Building and Construction, Electrical and Electronics, Automotive, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024."

Purchase this Premium Research Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=17087&ltype=S

For the study, the market has been segmented as follows:

Pressure sensitive tape Market: Product Analysis 

  • Cartoon Sealing Tape
  • Masking Tape
  • Double Sided Tape
  • Specialty Tape

Pressure sensitive tape Market: Backing Material Analysis 

  • Polypropylene (PP)
  • Paper
  • Polyvinyl Chloride (PVC)
  • Others

Pressure sensitive tape Market: End-user Analysis 

  • Food & Beverage
  • Building & Construction
  • Electrical & Electronics
  • Automotive
  • Healthcare

Popular Research Reports by TMR:  

About Us  

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]

Website: http://www.transparencymarketresearch.com

Research Blog: http://www.editiontruth.com/

SOURCE Transparency Market Research