Selbyville, DE -- (SBWIRE) -- 10/05/2018 -- 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".

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.

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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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Based on backing material, pressure sensitive tapes & labels market is categorized into polyvinyl chloride, cloth, paper, polypropylene, and others. Paper is an important segment which will account for more than a fifth of the market size in 2024. Paper backing materials are extensively used for labels. They are also used for tapes which are used for masking applications. The increasing labels demand along with the lower costs of paper will favor this segment's development in the study period.

The pressure sensitive tapes & labels market is categorized, on the basis of adhesion type, as single sided, adhesive transfer, and double sided. Double sided products have adhesive applied on both the sides of the support material. The release liners are coated on both the sides with release agents for creating a differential release. The adhesives on both the sides of the backing material may be of different chemistries or thickness. This pressure sensitive tapes & labels market segment will experience high growth by around 8% CAGR during the forecast timespan.

Labels product segment is likely to generate revenues of over 45 billion by 2024. The product has become an essential part of any item that is sold in retail. It contains data about the nutritional value of food items, price, date of manufacturing & expiration, etc. Government in many countries have made it mandatory for packaged food products to have extensive data about the content. This will fuel their demand and increase its average sizes in the future which in turn will contribute to the pressure sensitive tapes & labels market development in coming years.

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Food & beverage is a key end-user industry in the pressure sensitive tapes & labels market. The products are used in the labelling and packaging of food products. High growth in the packaged food industry in developing countries of Asia Pacific along with steady food & beverage demand from saturated markets in developed countries will drive demand for pressure sensitive tapes & labels market till 2024. Automotive & transportation end-user segment will gain by close to 6% CAGR in the forecast timeframe. Growing light weight vehicles demand for increased fuel economy and lesser emissions will increase usage of pressure sensitive tapes for bonding applications in the future.

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.