GIA announces the release of a comprehensive global report on Pressure Sensitive Tapes markets. Global market for Pressure Sensitive Tapes is projected to reach US$32.8 billion by the year 2018, primarily driven by performance enhancing product/technology innovation and robust application demand in developing markets such as Asia-Pacific.
As one of the greatest inventions of the twentieth century, pressure sensitive tapes are deceptively simple looking products that literally hold together modern life. From bonding and fastening applications in industrial assembly processes and equipment manufacturing to sealing of corrugated cartoons in packaging applications, pressure sensitive tapes find ubiquitous applications in everyday life. Over the decades, environment regulations have been eliciting changes in pressure sensitive tape manufacturing practices and methods. The conventional solvent-based adhesives are increasingly being replaced by solvent-free adhesives which are eco-friendly and possess greater resistance compared to solvent-based adhesives.
In addition to rising awareness of environmental issues, product polarization is a phenomenon that is taking on a concrete hue in the adhesive tape industry. The phenomenon is leading to a wide disproportionate fracture between low-end products, and value added high-end products with specialized, sophisticated features. On cards is the growing need for additional performance functionalities unmet by conventional pressure sensitive tapes. The rapidly evolving sophistication of information technology and electronics sector is spurring the need for tapes, which are soundproof, transparent with optical features and functionality such as heat conductivity, peelability, vibration, heat and flame resistance.
The typical, average level of performance and capability very often crumbles when pressure sensitive tapes are required to be used in conjunction with cutting edge electronic and information technology equipments and devices. Taking the case of display screens and panels in the electronics industry, these products require tapes with optical characteristics, and other functions such as glare prevention, and shielding. With miniaturized, lightweight, portable and compact designs, and dimensions continuing to drive the electronics industry, pressure sensitive tapes are also feeling the dire need to evolve in sync with the challenges confronted.
Market for pressure sensitive tapes was impacted during the years 2008 and 2009 with the 2007-2009 world economic recession crippling vital industries across the globe, such as, manufacturing, industrial, automotives, healthcare, electronic & communications, and consumer & office products. Technical and specialty tapes used in bonding and fastening applications in aerospace, electronics, building construction, motor vehicle assembly and telecommunication declined considerably. The market however posted an encouraging recovery in the year 2010 in sync with the resurgence of market driving growth fundamentals.
In Europe, the impact of the debt crisis is already being witnessed in the region’s fluctuating industrial output that remained volatile for most part of the year 2011. Overall consumption was also relatively less stable during the year as soft labor market, personal finances and tight credit conditions, weakened consumers’ confidence and their ability to spend. Also, the anti-crisis austerity and spending cuts as a measure to tame towering public debts and reduce the gross debt-to-GDP ratio is impacting capital expenditure in manufacturing industries in debt affected economies by limiting borrowing and reducing investments in capital goods. The automobile end-use industry, for instance, has been losing ground more rapidly than other manufacturing sectors. All of these factors are causing demand growth for pressure sensitive tapes to lose steam. While no easy and immediate solutions exist for Europe’s macroeconomic imbalances, the market will continue to remain tense into the year 2013.
For a market whose future growth prospects depend on medium to long term health of the economy, the periodic flaring up of Europe’s financial problems is currently throwing the market in Europe into a state of sustained uncertainty. With Europe now engulfed largely in a crisis of confidence, the scenario in itself is dragging down growth patterns. In the immediate future, should Greece exit the Euro zone triggered by the still uncertain political outlook, the damaging domino effect of the recalibration of the Euro could trickle down into eliciting a marked deterioration in the business climate in key end-use industries and conversely in the pressure sensitive tapes market as well. With numerous factors still continuing to threaten CAPEX and OPEX spending across industries in Europe, demand for pressure sensitive tapes which is largely a consumable used in diverse industries, is treading the tight rope.
As stated by the new market research report on Pressure Sensitive Tapes, Asia-Pacific is the most prominent regional market, with annual dollar sales waxing at a CAGR of about 6.8% over the analysis period. Continued migration of production and assembly activity particularly in automotive, electronics and appliance industries, from western markets to low-cost destinations such as China and India and subsequent need for efficient bonding and fastening solutions in these industries, is especially driving demand for pressure sensitive tapes in the Asia-Pacific region. Single Sided Tapes represents the most prominent product segment with annual dollar sales waxing at a CAGR of about 5.0% over the analysis period.
Leading global and regional players operating in the market include 3M Company, Adchem Corporation, Adhesives Research Inc., Adhesive Applications Inc., Advanced Flexible Composites Inc., American Biltrite Inc., Avery Dennison Corp, Better Packages, Berry Plastics Corporation, DeWAL Industries Inc., Intertape Polymer Group Inc., Nitto Denko Corporation, Scapa Group Plc, Shurtape Technologies LLC, Tesa Tape Inc., and Yem Chio Co. Ltd., among others.
The research report titled "Pressure Sensitive Tapes: A Global Strategic Business Report", announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, issues, challenges, company profiles, mergers, acquisitions and other recent industry activity. The report provides market estimates and projections for pressure sensitive tapes both in volume sales (million square meter) and value sales (US$ million) for major geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America. Key product segments analyzed with annual dollar sales include Single Sided Tapes (Packaging Tapes, Masking Tapes, Medical Tapes, and Other Single Sided Tapes); and Double Sided Tapes.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Pressure_Sensitive_Tapes_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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