High growth in the food & beverage industry in emerging economies such as Brazil, India, Argentina, and China will drive pressure sensitive tapes & labels market demand till 2024.
Sellbyville, DE -- (SBWIRE) -- 11/09/2018 -- GMI presents a most up-to-date research on "Pressure Sensitive Tapes & Labels Market – Global Industry Analysis, Size, Share, Products (Tapes, Labels), Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, GCC) and Forecast 2017 – 2024".
Pressure Sensitive Tapes & Labels Market size will surpass USD 150 billion by 2024; according to a new research report by Global Market Insights, Inc. High growth in the food & beverage industry in emerging economies such as Brazil, India, Argentina, and China will drive pressure sensitive tapes & labels market demand till 2024. Tapes are extensively used in the packaging of food & beverage products. Increasing consumer demand for displaying key information about products content and nature has also led to a high demand for labels. Steady demand for packaged food products in the U.S. and other mature markets in Europe will also boost product market growth during the forecast timeframe. Lifestyle changes, long working hours, and ease of consumption has led to the increasing demand for packaged food products not only in developed countries, but in emerging economies as well. This will contribute to the pressure sensitive tapes & labels market development during the study period.
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3M, one of the most acclaimed players in pressure sensitive labels and tapes market, has officially launched 3M™ FWBT (Fire and Water Barrier Tape), specially designed for firestopping in construction. Reportedly, FWBT is integrated with pressure sensitive adhesives, that have the credibility to stick to a wide platter of construction substrates including damp surface both at low as well as high temperatures. Claimed as a revolutionary extension of the existing products encompassing the pressure sensitive tapes and labels industry, FWBT is reported to be the first of its kind that comprise self-adhered membranes to provide an elastomeric tough seal.
In fact, the product range, as per experts' opinion, is deemed to garner a mass popularity in a wide range of site applications, subject to its flexibility in the size range spanning 51 mm-303 mm in width and 22.8 m in length. Reportedly, the newly launched ASTM and NFPA approved pressure sensitive tapes, that can be utilized for a diversified range of customized applications, as per experts' opinion, in all plausibility, would bring a disruption in the entire pressure sensitive tapes and labels industry.
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With technology making a strong footprint in packaging sector, it won't be irrefutable to declare that the development of pressure sensitive labels and tapes market is heavily influenced by the changing trends of flexible packaging industry. As per estimates, global flexible packaging industry is claimed to cross a humougous revenue of USD 250 billion by 2024, validating a slew of opportunities for pressure sensitive labels and tapes market players.
With global population treading toward sedentary lifestyle such as long working hours, packaged food consumption has not only upscaled in developed economies but also emerging countries. In consequence, this has led to an escalating demand for pressure sensitive labels and tapes market, given the fact PSA (pressure sensitive adhesives) is a one stop solution to many requirements including metalized PET or customized removable packaging.
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North America is a major pressure sensitive tapes & labels market owing to its large packaging and food & beverage industry. A large manufacturing sector is also a principal reason behind North America's large market size which is likely to surpass USD 35 billion by 2024. Latin America market will exhibit growths of more than 6.5% CAGR and will turn into a key pressure sensitive tapes & labels market till the end of the study period. High growth in the Mexican automotive and general manufacturing industries along with high demand for packaging materials in South American countries such as Brazil, Argentina, and Chile will favor the region's pressure sensitive tapes & labels market development in the forecast timeframe.
Major manufacturers in the pressure sensitive tapes & labels market include 3M, Avery Dennison Corporation, Scapa Group, American Biltrite, Berry Global, DeWAL, LINTEC Corporation, CCL Industries, MACtac, Constantia Flexibles, Gaska Tape, Inland, UPM Raflatac, Fuji Seal International, and COVERIS.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.