The global specialty pressure sensitive tapes market was valued at USD 9 billion square meters in 2016 and is expected to surpass USD 11 billion square meters by 2021, says Technavio.
Technavio has announced its latest market research report on the global specialty pressure-sensitive tapes market, under its tags and labels portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like 3M Company, Avery Dennison, Nitto Denko, and Tesa.
According to Sharan Raj, a lead analyst for tags and labels research at Technavio, “Demand for pressure-sensitive adhesives from healthcare industry is a major factor driving the market. Pressure-sensitive adhesives are used to manufacture medical tapes, patches or dressings, and other fabrication components. The growth in the medical devices sector has increased the demand for these adhesives.”
Manufacturers of medical devices in Europe and the US are expanding their production capacities to meet the swelling global demand for adhesives. The rising demand for lightweight and advanced medical devices is expected to increase the consumption of adhesives during the forecast period.
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Growing preference for sustainable specialty pressure-sensitive tapes
In the past few years, the demand for sustainable and environment-friendly pressure-sensitive tapes has amplified due to the environmental regulations and consumer preferences toward environment-friendly products. These specialty pressure-sensitive tapes are capable of undergoing decomposition into carbon dioxide, water, or biomass. In comparison to conventional pressure-sensitive tapes, these tapes occupy less landfill space.
Development of innovative high-resistance tapes
The increase in R&D expenditure has facilitated the development of high-resistance tapes. These products offer high aging resistance, good adhesion, absolute transparency, and clean positioning. Acrylate-based pressure-sensitive adhesives provide trouble-free labeling at exceptionally low temperatures. UV acrylate adhesives are used to enable high aging resistance. Such new products have increased the number of applications of pressure-sensitive tapes and have thus increased the demand for the overall market.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Specialty Pressure-sensitive Tapes Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Packaging Tapes Market 2016-2020
- Global Adhesive Tapes Market 2016-2020
- Global Pressure-sensitive Labels Market 2016-2020
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