Asia Pacific Pressure Sensitive Tapes & Labels Market size exceeded USD 35 billion in 2020 and is anticipated to witness 7.9% CAGR from 2021 to 2027. Rapid surge in the packaging industry due to the strong demand from e-commerce goods and food packaging sectors across the region will enhance the industry growth.

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Pressure sensitive tapes and labels are significantly used in wide end-user applications such as food & beverages, construction, healthcare, electronic goods, automotive & transportation, general manufacturing, etc. The considerable growth of rigid and flexible packaging will subsequently spur the Asia Pacific pressure sensitive tapes & labels market demand. The rapid growth of urban population coupled with rising disposable income will influence the overall industry size.

The increasing middle-class population in China, India, and Malaysia will increase the purchasing power and gradually contribute to the packaging industry. In addition, the robust growth of the food & beverages sector due to fast urbanization, rapidly adoption of modern lifestyles, and growing need for hygienic & packaging food will drive the market demand.

The COVID-19 pandemic had negatively affected the market growth owing to shutdown of production facilities, downturns in economic activities, and massive disruption of logistics & supply chains throughout the region. Government and regulatory bodies had imposed country-wide lockdown to combat the spread of coronavirus. Moreover, the limited availability of raw materials, such as adhesives and backing materials, affected the market revenue. Production halts and restrictions on international trade and travel have further flattened the Asia Pacific pressure sensitive tapes & labels market share. Nevertheless, lifting of lockdowns, rapid growth of e-commerce business, and favorable government policies are likely to offset these negative impacts in the upcoming years.

Asia Pacific Market, By Backing Material

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The polypropylene-based material is likely to gain popularity among all the backing materials and will generate over USD 36 billion revenue at the end of 2027, owing to its significant mechanical, physical, and chemical properties. Polypropylene-based backing materials are extensively used in various industries such as packaging, consumer electronic appliance manufacturing, automotive, etc. Strong dimensional stability, chemical stability, and translucent nature will make it highly suitable to be used as a backing material.

Asia Pacific Market, By Adhesion Type

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The single-sided segment will capture nearly 68% of the Asia Pacific pressure sensitive tapes & labels market share by 2027. The growth of this segment is mainly attributed to diverse applications including electrical, carton sealing, masking, and medical tapes.

Asia Pacific Market, By Product

Based on product, the tapes product segment in the Asia Pacific pressure sensitive tapes & labels market will showcase around 7.7% growth rate during the forecast period, due to the rising demand for superior quality tapes in various sectors such as food & beverage, healthcare, and automotive. The proliferating e-commerce sector is the major driving factor owing to the increasing number of online deliveries of consumer goods and household appliances in corrugated boxes and flexible packages.

Asia Pacific Market, By End-user

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The logistics segment registered more than USD 14 billion revenue in 2020, credited to the rising demand for household goods, packed consumer products, storing of chemicals or materials, transportation, etc. The key driving factors for the segment growth are the growing food & consumable goods packing and the rising e-commerce industry in the Asia Pacific region.

Competitive Industry Landscape

Some of the major players in the Asia Pacific pressure sensitive tapes & labels market are CCI Industries, Lintec Corp., Avery Dennison, Fuji Seal International, Mondi Group, MCC Labels, Cosmo Films, and Jindal Poly Films.

Market leaders are adopting aggressive strategies including merger & acquisition, product improvisation, and technological advancement for their business growth. For instance, CCL Industries Inc., completed the acquisition of Singapore-based Lux Global Label Asia Pte. Ltd. in May 2021, which will strengthen its presence in the ASEAN region.