Pressure Sensitive Tapes & Labels Market size worth over $130 billion by 2027

According to a new research report by Global Market Insights Inc., the Pressure Sensitive Tapes & Labels Market size is anticipated to reach USD 130 billion by 2027.
 

The packaging sector is one of the crucial segments in the pressure sensitive tapes and labels market owing to increased versatility in the market techniques related to packaging. Increasing foreign direct investments and international trade will fuel the packaging industry, which will further spur the product market in the coming years.

 

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Increasing demand from the healthcare, cosmetics, toiletries, food & beverages, and household sectors will drive the packaging market. Properties including barrier against moisture, appropriate sealing, and heat insulation are fueling the industry growth. Technological advancements, such as the development of thin elastic materials and upgrading of barrier properties along with innovations in high-speed filling equipment, will drive the  pressure sensitive tapes & labels market growth. Expansion in export trading is the key factor enhancing the overall industry growth.
 

The COVID-19 pandemic has negatively impacted the pressure sensitive tapes & labels industry owing to low labor force coupled with the shrinkage of essential raw material supplies and disruptions in manufacturing units around the world. During the initial phase of the pandemic, strict lockdown and social distancing measures were enforced to stop the spread of the virus. This resulted in a slowdown in manufacturing activities and also disrupted the supply chain of the industry. As the economic activities start picking up in developed economies, the product usage is expected to grow steadily.
 

Browse key industry insights spread across 360 pages with 405 market data tables & 22 figures & charts from the report, “Pressure Sensitive Tapes & Labels Market By Backing Material (Polypropylene, Polyvinyl Chloride, Paper, Cloth), By Adhesion Type (Single-sided, Double-sided, Adhesive Transfer), By Product (Tapes, Labels [Linered {Barcode, Others}, Linerless {Barcode, Others}]), By End-user (Food & Beverages, Healthcare, Logistics, Automotive & Transportation, General Manufacturing), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Landscape & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pressure-sensitive-tapes-and-labels-market

 

Polyvinyl chloride will influence the backing material segment by 2027

Polyvinyl chloride will witness around 6.9% CAGR in the pressure sensitive tapes & labels market. Polyvinyl chloride is world’s most largely produced thermoplastic polymer after polypropylene and is widely used in different applications such as pipes, electric cables, construction, signs, clothing, healthcare, flooring, wire rope, etc. The product has a wide range of benefits including high hardness, heat stability, good insulation properties, corrosion resistance, solvent resistance, fuels & paint thinners, lower cost, easy machineability, abrasion resistance, etc.
 

The double-sided segment will stimulate the market share by 2027

The double-sided segment will hold over 13% share in the pressure sensitive tapes & labels market in 2027. In double-sided adhesive type, the backing material is coated with a pressure sensitive adhesive on both sides. The release liner used can be a silicon coated paper of filmic material. The release liner is utilized to prevent the adhesives from sticking to themselves. The major application of the double-sided tape is to bond glass, steel, concrete, foam, plastic, wood, etc. Double-sided tapes have the least share among the other adhesion types, but it is expected to grow substantially over the forecast period.
 

Labels to be the major product segment

The labels segment will witness around 7.9% CAGR in the pressure sensitive tapes & labels industry. Labels contain written or printed information and are made of a variety of materials. Pressure sensitive labels consist of four parts, topcoat, face stock, adhesive, and release coating & liner. The augmented growth for pressure sensitive labels is due to the increased consumer demand for packaged food & beverages, as the product is extensively used to label the key information regarding the product content and usage. The key reasons behind the growth of label products are government initiatives, increasing packed food product demand, strong retail industry growth, changing consumer lifestyle, etc., creating a demand for pressure sensitive labels.
 

The food & beverages segment to propel the industry growth

The food & beverages segment will witness around 8% CAGR in the pressure sensitive tapes & labels market. Food & beverage end-user is a key segment augmenting the product consumption. As food & beverage products extensively use tapes and labels for labeling & packaging, they will drive the product market growth. The rising consumption of packed food products in developing countries and steady growth of packed food in the developed countries, such as the U.S., are responsible for the food & beverages industry growth.
 

Europe to highlight substantial growth throughout the study timeframe

The packaged food industry in Europe is growing substantially. The key factors driving the packaged food industry growth are increased disposable incomes, growing awareness of healthy lifestyle, rising working population, etc. The region will exceed USD 29 billion by 2027. Europe will expect a moderate growth in the pressure sensitive tapes & labels market during the forecast time frame. Due to the decline in the sales of new automobiles coupled with a slowdown in manufacturing operations, the product market experienced a dip in 2020.
 

The global pressure sensitive tapes & labels industry is extremely competitive and industry players are working on formulating various business strategies to maintain competitive advantages. For instance, in March 2020, Avery Dennison Corporation acquired the RFID Transponder business of Smartrac for USD 263.8 million The investment helped Avery Dennison to expand its presence in the RFID sector.
 

Key market players including Avery Dennison Corporation, The 3M Company, Constantia Flexibles, Berry Global Inc., American Biltrite Inc., Gaska Tapes Inc., LINTEC Corporation, Mactac Americas, LLC, CCL Industries, Coveris, Inland, Scapa Group Plc, Fuji Seal International, Inc., Dewal Industries LLC, and UPM-Kymmene Oyj (UPM Raflatac).
 

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