December 13, 2022 03:10 ET | Source: Global Market Insights Inc. Global Market Insights Inc.
Selbyville, Delaware, Dec. 13, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the Global Pressure Sensitive Tapes & Labels Market was estimated at USD 90 billion in 2022 and is expected to surpass a valuation of $175 billion by 2032, progressing at a CAGR of 6% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets. Kraft Washi Tape
Growth of the global food and beverage sector is one of the prominent factors supporting the expansion of pressure-sensitive adhesive tapes & label manufacturer base, the report claims. With health concerns rising among consumers, food and beverage manufacturers have been placing more importance on food nutrition and the preservation of packaged foods. Since high-grade packaging techniques can minimize food contamination risks and extend the shelf life, food producers are becoming increasingly reliant on pressure-sensitive tapes and labels to maintain product integrity.
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Focus on logistical efficiency to augment use of pressure-sensitive PVC tapes & labels
Pressure sensitive tapes & labels market share from PVC backing material is set to depict over 6% CAGR through 2032, owing to water resistance, durability, high strength, user-friendliness, and other product attributes. PVC has been gaining preference over duct tape and other alternatives in applications where durable and thick custom packaging tapes are required, such as shipping heavy or large supplies. The report reveals that the continued dependence on logistics for trade development, even during economical setbacks such as the COVID-19 crisis, will bolster the adoption of PVC tapes and labels.
Key reasons for pressure sensitive tapes & labels market growth:
Environmental resistance & adhesion features to fuel double-sided tapes & label production
Pressure sensitive tapes & labels industry value from double-sided adhesion segment will be worth over USD 24 billion by 2032, on account of their low costs and uses in varied non-structural applications. These key features make double-sided PSA solutions ideal for vibration dampening, gap filling, temporary and permanent bonding, shock absorption, mounting, and thermal sealing, among other uses. Additionally, doubled-coated tapes offer excellent environmental resistance and high adhesion to low surface energy materials, further boosting product consumption in automotive and other end-use applications.
Pressure-sensitive adhesive tapes gain traction in load-bearing applications
Pressure sensitive tapes & labels market size from tapes product segment was valued at over USD 72 billion in 2022. Unlike other tapes that require heat, solvent, or water to activate the adhesive, pressure-sensitive tapes require less pressure to adhere to surfaces. Due to their load-bearing and strong bonding properties, engineers have been extensively relying on these adhesive tapes for various purposes. As adhesive technology continues to advance, engineers, scientists, and everyday consumers are finding this tape easier to use than traditional fastening solutions. Factors such as these are, in turn, likely to support the growth of global pressure-sensitive tape manufacturers.
Packed food and beverage consumption drives pressure-sensitive tapes & label production
Pressure sensitive tapes & labels market size from food and beverage end-user segment is anticipated to cross USD 51 billion by 2032. This is a result of the strong consumer emphasis on health and wellness and the growing intake of packed food products, especially in developing nations. Based on a report from the Government of Canada, in 2020, retail sales of packaged foods in China totaled USD 284 billion. These factors will lead to the extensive usage of tapes and labels in the packaging of processed foods and beverages.
North America to emerge as a key hub for pressure-sensitive tapes and label production
North American pressure sensitive tapes & labels market will exhibit over 6% CAGR through 2032, considering the rapid expansion of the food and beverage and packaging businesses in the region. These trends are emerging due to changing consumer preferences for foods, security issues and costs, convenience, and improved lifestyle. The report further states that the mounting consumer spending on new vehicles will also stimulate the use of tapes and labels in automotive applications, strengthening the regional market outlook.
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Product line extension strategies to reinforce the industry landscape
Strategic landscape of the pressure sensitive tapes & labels market consists of companies such as Dewal Industries, LLC, Scapa Group Plc., American Biltrite Inc., Gaska Tapes Inc., Mactac Americas, LLC., LINTEC Corporation, UPM-Kymmene Oyj (UPM Raflatac), and Fuji Seal International, Inc., among others. These firms are focusing on product line expansions and other initiatives to increase their foothold in the global industry.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary 2.1 Global pressure sensitive tapes & labels industry 3600 synopsis, 2018 – 2032 2.1.1 Business trends 2.1.2 Backing material trends 2.1.3 Adhesion type trends 2.1.4 Product trends 2.1.5 Product by end-user trends 2.1.6 End-user trends 2.1.7 Regional trends Chapter 3 Pressure Sensitive Tapes & Labels Industry Insights 3.1 Industry segmentation 3.2 Industry size and forecast, 2023 – 2032 3.3 Industry ecosystem analysis 3.4 Raw material trends 3.5 Technology trends 3.6 Industry impact forces 3.7 Regulatory landscape 3.8 Growth potential analysis, 2022 3.9 Porter’s analysis 3.10 Regional price trends 3.11 PESTEL analysis Chapter 4 Competitive Landscape 4.1 Introduction 4.2 Company market share, 2022 4.3 Strategic dashboard 4.4 Patent analysis
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