Dallas, TX -- (SBWire) -- 04/12/2019 --Global Pressure Sensitive Tape Market size is estimated to reach USD 83.85 billion by 2025. Growing application in automotive, building & construction, electrical & electronic, and medical industry is expected to propel the demand for pressure sensitive tapes over the projected period. Rising health concerns coupled with increased healthcare spending around the world is expected to augment the consumption of surgical tapes, athletic tapes, and medical equipment tapes over the projected period.
Growing application in automotive, building & construction, electrical & electronic, and medical industry is expected to propel the demand for pressure sensitive tapes over the projected period. Rising health concerns coupled with increased healthcare spending around the world is expected to augment the consumption of surgical tapes, athletic tapes, and medical equipment tapes over the projected period.
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Pressure Sensitive Tape Market: Key Players are 3M, Avery Dennison, Nitto Denko, Lohmann GmbH, Nichiban, Lintec, Intertape Polymer, Shurtape, tesa, and Advance Tapes International.
Global presence and stay competitive in the industry Manufacturers are adopting M&A strategies in order to expand their. For instance, in August 2018, Intertape Polymer Group, manufacturer and distributor of film and paper-based pressure sensitive tapes acquired Polyair Inter Pack, a Canada based manufacturer engaged in integrated packaging systems.
The Global Pressure Sensitive Tape Market size for automotive application accounted for more than 6% of overall market volume and revenue share in 2017. Growing adoption in roof molding, side fenders, rear spoilers, plate panels, outer belt moldings, side mirrors, rocker panel, bumper side moldings, and emblem & nameplates is expected to increase the utilization of double-sided tapes in automotive applications over the projected period.
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Huge investment to strengthen manufacturing industry and untapped market in the Middle East & African countries such as Israel, South Africa, Saudi Arabia, and Turkey is expected to provide a potential opportunity for manufacturers to expand their production facilities. Increased building & construction expenditure in Turkey by virtue of incentives offered by the government, housing loan campaigns, and regulations in value-added tax rates is projected to increase demand for masking tapes over the coming years.
North America accounted for more than 20% of overall market share in 2017. North America and Europe are expected to be a mature market for pressure sensitive tapes industry over the coming years. However, increased manufacturing output and growing consumer electronics industry in U.S., Germany, UK, and Italy is expected to increase sales volume of carton sealing tapes over the coming years.
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