Tape Industries Market Segments, 6.1% CAGR, Statistics, Opportunities by forecast 2023 | Global Tape Industries Market information by Backing Material (Paper, PVC, Polypropylene), Product (Masking, Carton Sealing, Electrical, Double-sided), Application (Healthcare, Packaging, Construction, Manufacturing) and Region – Forecast to 2023
Tape Industries Market Overview
Market Research Future (MRFR) has recently published an in-depth report on the global Tape Industries market and has projected a CAGR of 6.1% over the forecast period of 2017-2023.
Tape Industries are broadly used for packaging, sealing, labelling, stationery, and other general-purpose applications. This kind of tapes are based on several pressure sensitive adhesives where adhesive is applied on one side or on both sides.
Tape Industries adhere to various surfaces with light pressure without the need for solvent, water, or heat to activate the adhesive present in them. They are generally termed as self-adhesive, sticky tape, or PSA tape and are used for wide-ranging purposes.
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- American Biltrite Inc.
- LINTEC Corporation
- Scapa Group
- Adchem Corporation
- Jonson Tapes Limited
- Shurtape Technologies, LLC
- Intertape Polymer Group
- Zhejiang Yonghe Adhesive Products Company Limited
- Tesa SE
- 3M Company
- Nitto Denko Corporation
- Advance Tapes International Limited
- Berry Plastics Corporation
- Avery Dennison Corporation
In June 2017, Avery Dennison Corporation, one of the major manufacturers and distributors of pressure sensitive adhesive materials has completed the acquisition of Yongle Tape Company Ltd. to manufacture specialty tapes and related products in a variety of industrial markets. The same year, in September 2017, Avery Dennison Corporation expanded its Kunshan Plant to meet the demand from Tape Industries.
In November 2016, 3M Company developed Scotch Clean Removal Strapping Tape 8899HP to expand the product portfolio.
Region-wise, the Tape Industries market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The APAC market is expected to domineer the global Tape Industries market over the forecast period. Expanding industrial activities in the region provides attractive opportunities for the growth of the market. Manufacturing activities are gradually being shifted to APAC due to the ease of carrying out operations in the region. The availability of relatively cheap labor, supportive government regulations, and availability of raw materials at subsidized rates are favoring the shift. The expanding construction industry also acts as a motivating force to the growth of the market.
North America has secured the second spot in the global Tape Industries market. An established automotive industry generates substantial demand for Tape Industries. Moreover, the region has demonstrated heightened acceptance of Tape Industries in place of mechanical fasteners, which is contributing to the growth of the market.
Europe is a key market for Tape Industries. Augmented demand from the consumer goods industry and personal care industry has substantiated the growth of the market in the region. Rapidly expanding packaging industry in the UK, Spain, Germany, and France is inducing high demand for packaging tapes in the region.
Tape Industries Market Segmentation
The Tape Industries market has been segmented based on backing material, product, and application.
By backing material, the Tape Industries market has been segmented into paper, PVC, polypropylene, and others. The polypropylene segment dominated the market in 2016 and is anticipated to retain its position over the forecast period. Superior properties of polypropylene such as moisture and chemical resistance, high impact and fatigue resistance, as well as resistance to electricity, boost its demand. The paper segment is expected to register the highest CAGR over the forecast period. Paper is a low-cost backing material due to which it experiences demand from diverse industries such as industrial, construction, and electronics.
By product, the Tape Industries market has been segmented into masking, carton sealing, electrical, double-sided, and other. The carton selling tapes segment held the foremost share of the market in 2016. Carton selling tapes are non-toxic in nature and are compatible with various sterilization forms due to which they experience heightened demand. The double-sided tapes segment is expected to be the fastest growing segment over the forecast period. Double sided tapes are durable, reliable, and possess effective fixing and bonding properties.
By application, the Tape Industries market has been segmented into healthcare, packaging, construction, manufacturing, and others. Application-wise, the packaging segment leads the market.
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