Tapes and Labels market: Overview
In terms of end-user, the tapes and labels market can be categorized into food & beverages, health care, logistics, automotive & transportation. Moreover, tapes and labels are used in mounting, injection, and component marking. Furthermore, they are used in the automotive, construction, lift, and reseal applications. In the electronics industry, tapes and labels market are used for smartphones, tablets, and notebooks. Adhesive tapes have typical uses in in-vitro diagnostics (IVD). Nowadays, tapes and labels are rapidly being used in web material production and processing, in smart cards, and in the transportation and renewable energy sectors.
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Tapes and Labels Market: Market Trends and Development
A key trend in the tapes and labels market is rise in preference for sustainable specialty pressure-sensitive tapes. The demand for sustainable and biodegradable pressure-sensitive tapes is increasing rapidly because of environmental concerns and consumer preference for environmentally friendly products. Specialty pressure-sensitive tapes are able to undergo decomposition into water, carbon dioxide, or biomass. The global specialty pressure-sensitive tapes industry has seen the emergence of new and innovative products in the past few years. Increase in R&D expenditure has helped the development of these products. The total utilization of silicone-based specialty pressure-sensitive tapes is expected to increase during the forecast period as they are significantly used in electronic devices. Silicone-based specialty pressure-sensitive tapes yield adhesion even at extremely high temperatures.
Tapes and Labels market: Regional Outlook
Developing regions are expected to be robust in the global tapes and labels market during the forecast period. The tapes and labels market in Asia Pacific is estimated to be dominant and expand at a rapid pace during the forecast period. China is anticipated to remain a prominent country of the tapes and labels market by a wide margin, and the tapes and labels market in the country is likely to continue to expand at a robust pace during the forecast period. Rise in demand for FMCG goods is expected to fuel the tapes and labels market globally.
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Tapes and Labels Market: Key Players
Key players in the tapes and labels market are Avery Dennison Corporation, 3M, Scapa Group, Lintec Corporation, MACtac, Berry Global Inc., American Biltrite Inc., CCL Industries, and UPM Raflatac among others.