Published Date: 2021-12-01
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APAC Pressure Sensitive Tapes and Labels Market size is predicted to cross USD 60 billion by 2027, according to a latest forecast report by Graphical Research. The robust growth of the manufacturing industry in emerging countries will stimulate the market share.
Asia Pacific held around 45% share in the global pressure sensitive tapes and labels industry in 2020, attributed to the strong presence of leading manufacturing industries coupled with rapid economic development in the developing countries. Rapid growth of industrial manufacturing facilities including production of electrical products, machinery & equipment, building & construction material, plastic & rubber products, and automotive products are augmenting product demand. Leading economies including China, Japan, India, and South Korea will boost the demand for pressure sensitive tapes & labels due to the technological changes to increase the efficiency and productivity of machinery and finished products. The use of pressure sensitive tapes & labels in these industries to increase the efficiency of machines by making them light weighted, such as motors, oil exploration & drilling machine, mining equipment, power generators, etc., will boost the product market. In addition, favorable government policies and regulations will significantly propel the market growth. For instance, the Government of India launched ‘Make in India’ program through Foreign Direct Investment to make India as a manufacturing center across the world.
However, environmental concerns regarding pressure sensitive tapes & labels may hamper the Asia Pacific industry growth. Pressure sensitive adhesives are generally non-toxic and safe but the manufacturing process, such as grinding and machining, produces hazardous substances that can affect both human beings as well as environment. Moreover, the release of volatile and other wastes during manufacturing of adhesives will pollute the environment. For instance, toluene, a major source of volatile organic compound, which is used as a carrier fluid in conventional heat melt adhesives may cause air pollution.
The paper materials segment will showcase around 8% CAGR from 2021 to 2027 due to the special properties of paper as a backing material such as significant thermal resistance and absorption. It can be stretched up to 50%, ripped by hand, etc. Soft papers are in strong demand as adhesive tapes are required for packaging or as a template for sandblasting. Crepe paper is used for masking & painter’s tapes. These factors will collectively drive market growth.
Browse detailed statistical insights from the report, “Asia Pacific Pressure Sensitive Tapes & Labels Market Forecast 2027 By Adhesion Type (Single Sided, Double Sided, Adhesive Transfer), By Backing Material (Polypropylene, Polyvinyl Chloride, Paper, Cloth), By Product (Tapes, Labels [Linered {Barcode, Others}, Linerless {Barcode, Others}]), By End-user (Food & Beverage, Healthcare, Logistics, Automotive & Transportation, General Manufacturing), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @ https://www.graphicalresearch.com/industry-insights/2021/asia-pacific-pressure-sensitive-tapes-labels-market
Double sided tapes have the minimum share among the adhesion types but are anticipated to expand substantially with a significant CAGR over the forecast period and will exceed USD 8 billion by 2027. Increasing applications of double-sided tapes for steel, bond glass, foam, plastic, concrete, wood, etc., will augment the industry size.
The labels is likely to grow at a CAGR over 8% between 20221 and 2027 due to the increasing packaging industry across the region. Labels are contained with data about the nutritional value of food items, price, and date of manufacturing & expiration, etc. Governments in many countries have made it mandatory for packed food products to have an extensive data about the content. This will fuel the product demand and increase their average sizes in the future, contributing to the market growth.
The food & beverage segment will acquire more than 28% market share by 2027. Food & beverage is the second major end-use sector in the market. The extensive usage of tapes & labels for packaging & labeling of food & beverage products will foster the segment growth. The increasing consumption of packaged products in the developing countries coupled with shifting consumer concern toward hygienic and protected packaged food will augment the industry size.
The APAC pressure sensitive tapes and labels market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Square Meter and revenue in USD Million from 2016 to 2027 for the following segments
Asia Pacific Market, By Backing Material
Asia Pacific Market, By Adhesion Type
Asia Pacific Market, By Product
Asia Pacific Market, By End-use
The above information has been provided for the following countries:
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