PUNE, India, October 13, 2017 /PRNewswire/ --
The report"Pressure Sensitive Adhesive Tapes Marketby Resin type (Acrylic, Rubber, Silicone), Category (Commodity, Specialty), Backing Material (Polypropylene, Paper, PVC), Type, End-Use Industry, and Region - Global forecast to 2022" published by MarketsandMarkets', the market is projected to grow at a CAGR of 6.22%, from an estimated 50.12 Billion in 2017 to 67.76 Billion in 2022. The demand for PSA tapes is high in end-use industries such as medical & healthcare, packaging, electrical & electronics, transportation, and construction due to their ease of use and wide availability. Acrylic is the highest used resin type for PSA tapes across the globe. Growth in various end-use industries, especially in the Asia Pacific, is driving the global PSA tapes market.
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Among resin type, the silicone PSA tape segment of the PSA tapes market is expected to grow at the highest CAGR during the forecast period.
The performance of silicone-based PSA tapes is excellent on low surface energy substrates. Silicone-based PSA tapes can maintain adhesion over a larger temperature range and possess the ability to adhere to difficult surfaces. Major players are planning to increase the production capacity of silicone PSA tapes considering the future demand. Silicone PSA consists of silicone polymers and is widely used in specific industrial applications such as solar and wind energy, heavy machinery, and applications involving extreme environments, especially in aerospace in the form of masking tapes, process tapes, and high-performance insulation laminates, wherein organic PSA do not fulfill the required properties.
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Among backing materials, the paper PSA tapes segment is expected to lead the PSA Tapes market along with having the highest CAGR during the forecast period
The growing awareness regarding PSA tapes in different end-use industries has encouraged tape manufacturers to focus on products where these tapes can replace other fastening systems. For instance, in the automotive industry, there is an increasing government regulation for manufacturing lightweight vehicles. Such regulations have propelled the demand for paper PSA tapes due to their benefits such as being lightweight and economical.
The Asia Pacific PSA tapes market is expected to grow at the highest CAGR during the forecast period.
Among regions, Asia Pacific is expected to be the fastest-growing Pressure Sensitive Adhesive Tapes Market. In this region, PSA tapes are finding applications in various end-use industries, such as medical & healthcare, packaging, electrical & electronics, transportation, construction, and others. This high growth is mainly attributed to high-growth economies such as China, India, Taiwan, and other smaller countries, such as Indonesia, Vietnam, and Malaysia. China is the leading market in terms of the demand for PSA tapes in Asia Pacific.
3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), and Avery Dennison Corporation (US), among others are the key players operating in the PSA tapes market.
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