Pressure Sensitive Tapes Market size was valued at USD 70.2 billion in 2023 and is estimated to reach USD 133.5 billion by the end of 2036, growing at a CAGR of 5.5% during the forecast period, i.e., 2024-2036. In 2024, the industry size of pressure sensitive tapes is estimated at USD 74.06 billion.
The pressure sensitive tapes market is expanding due to its high usage in automotive applications and growing popularity of electric vehicles worldwide. Pressure sensitive tapes are used in car batteries to prevent thermal runaway and link cells to one another. These tapes help to increase fuel efficiency due to their low weight and transparent surfaces and enhance the visual appeal of the vehicles.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.5% |
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Base Year Market Size (2023) |
USD 70.2 billion |
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Forecast Year Market Size (2036) |
USD 133.5 billion |
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Regional Scope |
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Product (Specialty Tapes, Packaging Tapes, Consumer Tapes)
The packaging tapes segment is poised to capture about 49.1% pressure sensitive tapes market share by the end of 2036. The growing use of packaging tapes in bundling, wrapping, sealing, and enclosing applications is expected to fuel demand for these tapes. These tapes are utilized in the packaging of consumer and industrial items, construction transit packaging, pharmaceutical delivery systems, electronics and electrical gadgets, and hygiene and medical products. Segment expansion is anticipated to be aided by the growing usage of packaging tapes, including polypropylene tapes, in various applications, such as transportation, cartons, warehousing, and logistics.
Technology (Hot Melt, Water-based, Solvent-based, Radiation-cured)
Hot melt segment is expected to dominate pressure sensitive tapes market share of around 40.7% by the end of 2036 owing to its rising demand in the bonding and mounting of components in the aerospace and automotive industries. Furthermore, the segment growth is driven by the rising focus on sustainability in the packaging sector. For example, in April 2023, Dow and Avery Dennison collaborated to develop a novel and environmentally friendly hotmelt label adhesive solution that allows polypropylene or polyethylene (PP/PE) packaging and polyolefin film labels to be mechanically recycled in the same stream.
Our in-depth analysis of the pressure sensitive tapes market includes the following segments:
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Product |
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Technology |
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Backing Material |
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Adhesive Chemistry |
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Application |
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APAC Market Statistics
Asia Pacific in pressure sensitive tapes market is estimated to account for more than 37% revenue share by the end of 2036. The demand for tapes is positively impacted due to rising demand for pressure sensitive tapes across various sectors and increasing investments by manufacturers to develop and launch enhanced, eco-friendly, and durable products. Asia Pacific is world's largest manufacturing hub with strong demand for sticky tapes in packaging and labeling business. Rising demand from the packaging sector is a key factor fueling market growth in this region.
The market is rapidly growing in China due to the significant expansion of end user industries such as healthcare, e-commerce, and automobiles. It is anticipated that growing disposable incomes will increase demand for automobiles and online shopping which will support the market for pressure-sensitive tapes in China.
The automobile industry in Japan is one of the biggest sectors worldwide. Pressure sensitive tape applications in the automotive industry are likely to fuel the market's growth here. These applications include bonding, noise reduction, and surface protection. Japan’s automobile sector is expanding steadily, with a rise in two-wheelers, passenger cars, and commercial vehicles.
North America Market Analysis
North America will encounter huge growth in the pressure sensitive tapes market during the forecast period owing to increasing building and construction activities in many parts of this region. These tapes work better than mechanical fasteners and are perfect for connecting architectural panels as they can withstand wind loads in Canada's shifting climate. Franklin Adhesives & Polymers, an American firm, introduced Covinax 625 in April 2024. It is an emulsion pressure-sensitive adhesive that is designed to be versatile and work well in a range of durable label and tape applications.
The expansion of packaging materials in the e-commerce industry is increasing demand for pressure-sensitive tapes in the U.S. The pressure sensitive tapes play a key role in keeping the shipments and goods secure during transit. In addition, the government’s focus on infrastructural developments and increasing investing in building projects is expected to enhance the sales of pressure sensitive tapes.
The pressure sensitive tapes market is quite fragmented, consisting of key players operating at global and regional levels. The key players are focused on developing novel products, including eco-friendly tapes and expanding their production capacities to cater to the rising demand. These players are adopting several strategic alliances such as mergers and acquisitions, partnerships, license agreements and product launches to expand their product offerings and retain their market position. Here is a list of key players operating in the global pressure sensitive tapes market.
Author Credits: Rajrani Baghel
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