Packaging was the major revenue generating application in U.S. Pressure Sensitive Adhesives (PSA) Tapes Market in 2015. Global demand was valued at over USD 25 billion in 2015, driven by rising corrugated box demand due to increase in trend for green technology accompanied by growth in the food & beverages sector.
Asia Pacific pressure sensitive adhesives market size was worth over USD 20 billion in 2015. China, India, Indonesia, and South Korea are the key revenue generating countries owing to growth in packaged goods sales and increase in building & construction spending.
The industry is anticipated to witness moderate growth due to increase in retail and electrical & electronics spending in the U.S.
Automotive applications accounted for over 5.5% of the global revenue in 2015; however, technology innovations and increase in automobile production is projected to create opportunities in this segment. Global automotive production was over 89.55 million units in 2015 and is anticipated to exceed 100 million vehicle units by 2018.
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China dominated the overall volume and manufactured more than 23.4 million vehicle units in the same year. North America was the second main region, manufactured over 17.25 million vehicle units in 2015.
Brazil pressure sensitive tape market share was the leading revenue generating country in Latin America and is estimated to witness significant growth due to increase in interregional trade with Colombia, Argentina and Venezuela.
PSA tapes market is most suitable sticking substitute to solvent or heat required for activation and it also creates negligible residue. This product can be used in the office, home, industry, and institutions for diverse purposes.
Product types include carton sealing, masking, double-sided, surgical, and electrical. Carton sealing dominated the demand and accounted for more than 55% of the total share in 2015.
Recyclability and reusability coupled with long-lasting adhesion properties are propelling corrugated box packaging demand in several industries including food & beverages and electronic goods.
Masking tape is designed to be applied on those parts which are not required to be painted or coated such as window pane in homes and offices during painting and automotive coatings. Increase in automotive production is anticipated to stimulate demand in this segment.
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Double-sided sticking solution serves the purpose when two surfaces need to be glued together, they provide strong adhesion to several crafting and clothing application.
Pressure sensitive tapes market share is fairly consolidated with major players including 3M, Nitto Denko, and Lintec, which accounted for more than 19% of the overall demand. Other key players consist of Adchem, ABI Tape Products, Jonson Tapes, and Avery Dennison.
Key Insights in this Report
- Global Pressure Sensitive Tape Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Pressure Sensitive Tape Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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