Selbyville, Delaware, Nov. 15, 2020 (GLOBE NEWSWIRE) — Based on Global Market Insights Inc., report, the global Pressure Sensitive Tapes & Labels Market was estimated at $86.1 billion in 2019 and is slated to surpass $120 billion by 2026, registering a CAGR of 7.8% from 2020 to 2026. The report provides a detailed analysis of the market estimations and size, top investment avenues, wavering industry trends, drivers & opportunities, key winning strategies, and competitive scenarios.
The industrial development in countries including Japan, China, India, and South Korea will augment the pressure sensitive tapes & labels market share due to technological changes to increase the productivity of machinery. Pressure sensitive tapes & labels can replace screws, rivets, and glues in many applications to enhance efficiency and create exciting new material combinations & high impact visual designs. The use of pressure sensitive tapes & labels in the manufacturing sector is to increase the efficiency of machines by making them lightweight.
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Polyvinyl Chloride (PVC) is likely to witness steady growth as it exhibits strong dimensional stability and transparency, which are factors considered in the production of pressure sensitive tapes & labels. It can be made soft, which is preferred for masking and insulating applications.
The adhesive transfer segment will witness over 7% CAGR in pressure sensitive tapes & labels market size. It is a special type of adhesive tape that does not include a backing material. The pressure sensitive adhesive is coated onto the release liner and wound onto the roll. The most common type of adhesive transfer is an acrylic adhesive.
Tapes will dominate the pressure sensitive tapes & labels market with over 70% share. Pressure sensitive tapes are mainly used as a solution to fasten and join surfaces with the incorporation of pressure sensitive adhesives. These tapes find usage in safe and convenient food & beverage packaging applications. The growing food industry in India, Brazil, and China will drive the demand for pressure sensitive tapes.
The healthcare end-user segment will witness over 7.5% CAGR in pressure sensitive tapes & labels market due to demand for pressure sensitive tapes & labels in different applications such as ostomy, surgical applications, wound care, labeling OTC containers in pharmaceutical applications, electromedical, and electronic visual inspection.
The North America region will generate over USD 20 billion by 2026 due to the growing food & beverages and packaging industries. The regional pressure sensitive tapes & labels market will grow due to improved lifestyles and increasing demand for conveniently packaged food products. On the other hand, Asia Pacific is the fastest-growing product market as the region is a strong market for the food & beverages and packaging sectors.
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Some of the key players involved in the global pressure sensitive tapes & labels industry include 3M, UPM Raflatac, Lintec Corporation, and Berry Global. The key participants are focusing on increasing production capacity, joint venture, and acquisition to increase their global footprint or acquire advanced technology to cater to the increasing demand from global market.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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