Over the recent years, pressure sensitive tapes market has been witnessing phenomenal advancement owing to its massive end use expanse. Ease of usability and superior bonding properties have translated into enormous usage of these materials as labeling, masking, and sealing across various business verticals. Furthermore, one of the most pivotal factors to have significantly boosted the growth prospects of this business space is the fact that these materials are steadily replacing the conventional bonding elements and techniques used in the manufacturing sector. As per reliable estimates, the global pressure sensitive tapes & labels market held an impressive remuneration portfolio in excess of USD 90 billion in 2016.
A concise overview of how numerous business verticals have positively influenced the growth of pressure sensitive tapes industry
Food and beverages: a crucial sector to impel the pressure sensitive tapes market size
Long working hours and rapidly changing lifestyle have significantly boosted the demand for easily consumable packaged food products. This has not only affected the dietary habits of populace living in developed countries, but also the citizens in emerging economies. As a consequence, this has led to the immense popularity of products encompassing pressure sensitive tapes industry.
The report titled “Pressure Sensitive Tapes & Labels Market Size By Backing Material, By Adhesion Type, By Product, By End-user, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” has been published in January 2017. To understand the industry better, request a sample of this report @ https://www.gminsights.com/request-sample/detail/383
One of the chief reasons to contribute toward wide scale acceptance of these PSA’s (pressure sensitive adhesives) across F&B sector is the fact that these materials provide customized removable packaging. Furthermore, these tapes fulfill numerous other requirements of this business vertical including the appropriate labelling and packaging of food products. Therefore, it is quite apparent that the prospective rise in the fortunes of food and beverages industry, especially the FMCG domain, would undoubtedly translate into pressure sensitive tapes market share augmentation.
Healthcare: a swiftly emerging end user segment of pressure sensitive tapes industry
The healthcare segment, as per a research report by Global Market Insights, Inc., garnered quite a sizeable chunk of the global pressure sensitive tapes market share. The utilization of labels and tapes in the healthcare sector has had an indelible influence on the surgical procedures and the capability for wound management in prominent wellness institutions. Apart from surgical and wound care applications, these materials have numerous other uses including ostomy, medical device assemblies, electro medical, and diagnostics. Surpassing a remuneration figure of around USD 8 billion in the year 2016, the healthcare segment is estimated to fortify its position among the major end user verticals of the overall pressure sensitive tapes & labels market in the forthcoming years.
Packaging: the astonishing growth of the global packaging industry to favor pressure sensitive tapes market share expansion
The ever-increasing international trade has led to burgeoning demand for packaging materials world over. Add to it, the rapid GDP growth being witnessed across developed and emerging economies has propelled the packaging industry size expansion. As a consequence of these developments, the growth prospects of pressure sensitive tapes market are anticipated to achieve greater heights. It is quite imperative to take note of the advantages of these flexible tapes and labels in the packaging sector. Coated with advanced adhesives, these materials stick to a variety of surfaces at different room temperatures, are easy to handle, and apply with light pressure. Hence, it is undeniable that the proliferation of packaging sector would act as the major growth enabler for the pressure sensitive tapes & labels market.
Numerous leading pressure sensitive tapes industry players including Avery Dennison Corporation, UPM Raflatac, Fuji Seal International, 3M, Scapa Group, LINTEC Corporation, COVERIS, American Biltrite, Constantia Flexibles, Mactac, Berry Global, Inland, DeWal, and Gaska Tape, are investing massively to revamp the existing product portfolio. It goes without saying that the efforts being deployed by the aforementioned industry participants would effectively contribute toward the growth of this business space. With a favorable regulatory framework complemented with burgeoning demand for these materials, pressure sensitive tapes & labels market is estimated to exceed a total valuation of USD 150 billion by 2024.