Sellbyville, DE -- (SBWIRE) -- 11/23/2018 -- The qualitative research study conducted by Global Market Insights, Inc. titled "Pressure Sensitive Tapes & Labels Market" provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Pressure Sensitive Tapes & Labels Market.

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.

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In a bid to fortify its stance in the North America pressure sensitive labels market, Tokyo headquartered adhesive products manufacturer Lintec Corporation has officially announced to have acquired Mactac Americas L.L.C at an estimated cost of around USD 375 million. Industry experts have understandably concluded that the latest acquisition is of colossal importance for Lintec, as it is likely to bring about a transformation of sorts in the existing range of products in the pressure sensitive tapes & labels industry.

One of the major factors to cause this change is the high-speed coating technology and excellent adhesion formula deployed by Mactac while developing its tapes and labels, which would be added to Lintec's product portfolio. Moreover, it would be imperative to mention that the products of the Ohio based firm are being extensively used in graphic design, label printing, automotive assembly, retail display, digital imaging, medical device assembly, fleet graphics, packaging, and assembly engineering. Subsequently, this wide scale applicability of Mactac's products would assist Lintec to extend its reach across all-inclusive business verticals. Apparently, the aforementioned instances go on to explain the primary reasons behind North America being one of the largest growth avenues for pressure sensitive tapes & labels industry.

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Apart from the rising number of takeovers being witnessed across this business sphere, the major pressure sensitive labels market giants have been concentrating on enlarging their manufacturing scope in geographical terms. To serve the swiftly progressing South America pressure sensitive tapes & labels industry, UPM Raflatac has recently inaugurated a new labelstock slitting and distribution terminal in Chile. The latest terminal would reportedly offer a new range of sustainable and advanced labels to the consumers in the wine and craft beverage segments in Chile and its neighboring countries including, Bolivia, Argentina, Peru, and Paraguay.

Needless to say, such bold initiatives being executed by prominent industry players to expand their sphere of influence across the globe would augur well for the overall pressure sensitive labels market share augmentation. With concerns related to emission level, life cycle analysis, performance, and sustainability of these labels and tapes, the major market participants have been prompted to come up with viable alternatives like hot melt pressure sensitive tapes. With an ever-increasing requirement for these materials coupled with a favorable regulatory framework, pressure sensitive tapes & labels market is projected to surpass a striking remuneration portfolio of about USD 150 billion by 2024.

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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.