|Status : Upcoming||Report Code : VRCH2030||Industry : Chemicals & Materials||Available Format :|
Industry Insights by Chemistry (Acrylic, Rubber, Silicone), by Backing Material (Polypropylene, Paper, Polyvinyl Chloride), by End-User (Packaging, Electrical and Electronics, Medical & Hygiene, Transportation, Construction)
Pressure sensitive adhesive tapes are the continuous flexible strip of cloth, metal, paper, or plastic coated on both sides with a permanent adhesive at room temperature that will adhere to the variety of surfaces with finger pressure without changing the phase. They are generally available in roll form. The global pressure sensitive adhesive tapes market is experiencing a good growth in the market and expected to witness the same in the coming years, which can be attributed to its increasing use in the end-user industries, due to the advantages it offers such as high heat resistance, good adhesion to metals, and others.
Insight by Chemistry
Based on chemistry, the pressure sensitive adhesive tapes market is segmented into acrylic, rubber, silicone, and others. Among all these, Silicone-based tapes is the most dominant category in the market and expected to witness the fastest growth in the market during the forecast period. This is attributed to its wide industrial application which includes heavy machinery, solar and wind energy, and others. Also, they are used in the aerospace industry, they are used in the form of process tapes, masking tapes, high performance insulation laminates, and others, where organic tapes are not able to fulfill the requirement.
Insight by Backing Material
On the basis of backing material, the pressure sensitive adhesive tapes market is classified into polypropylene, paper, polyvinyl chloride, and others. The paper segment is anticipated to register the highest growth in the market during the forecast period, due to the increasing demand of low-cost backing material for tape manufacturing.
Insight by End-User
Based on end-user, the pressure sensitive adhesive tapes market is categorized into packaging, electrical and electronics, medical and hygiene, transportation, construction, medical, and others. Electrical and electronics end-user category is the largest consumer of these tapes, owing to the increasing demand of these tapes in the manufacturing of consumer electronics such as camera and mobile phones. Also, these tapes are useful for attaching surface-mount components at points on printed circuit boards.
The major factors driving the pressure sensitive adhesive tapes market are the increasing adoption due to easy applicability, increasing demand from end-user industries, and high demand from developing countries. The demand of these tapes is increasing in various end-user industries such as medical, automotive, electronics, and others. This is due to the various advantages these tapes offers such as reduce assembly line, lightweight material, eliminates the need of surface refinishing, eliminate visible mechanical fasteners, provide uniform thickness, and various others.
The pressure sensitive adhesive tapes market growth is restrained by the rising price of raw material prices and the changing regulations to reshape the pressure sensitive adhesives tapes market. The rising cost of raw materials that are used in the formulation of these tapes for the tape industry are expected to bring uncertainty in the market, which can hinder the market growth in the coming years. The basic formulations used in the industry are polymers and tackifiers among various other additives.
Considering the fact, that most of the raw materials used are petroleum-based derivatives and hence vulnerable to fluctuations in commodity prices. Crude oil prices are highly volatile in nature, which can affect the pressure sensitive adhesive tapes industry in the coming years.
Asia-Pacific is expected to register the highest CAGR in the pressure sensitive adhesive tapes market during the forecast period, which can easily be attributed to the increasing demand and use of these tapes in the end-user industries. Also, the demand is significantly increasing from the countries such as India, South Korea, China, and others to fulfill the need of rapidly expanding industries in the region.
Adchem Corporation, Advance Tapes International, Adhesives Research, Inc., Berry Plastics Corporation, Dewal Industries Inc., Saint-Gobain Performance Plastics, Dermamed Coatings Company, LLC, Mactac, LLC, Wuhan Huaxia Nanfeng Adhesive Tapes, and Canadian Technical Tape Ltd. are some of the key players operating in the pressure sensitive adhesive tapes market.