The global pressure sensitive tapes market is segmented into product, technology, backing material, adhesive chemistry and region. Product based segmentation of the global pressure sensitive tapes market can further be divided into specialty tapes, packaging tapes, and consumer tapes. Packaging tapes is also divided into Automotive, Aerospace, White goods, Electronics, Semiconductors, Electrical, Paper & printing, Construction, Medical, Hygiene, Retail & graphics, and Others (Sports, defense, etc.) The global pressure sensitive tapes market is bifurcated into specialty tapes and other tapes on the basis of technology based segmentation. Both the technology sub-segment is further categorized by Hot melt, Water based, Solvent based, and Radiation cured. On the basis backing material, the global pressure sensitive tapes market is classified into specialty tapes. Specialty tapes is further differentiated on the basis of Woven/Nonwoven, Polyvinylchloride (PVC), Polypropylene (PP), Polyethylene Terephthalate (PET), Foam, Metal, and Others. On the basis adhesive chemistry, the global pressure sensitive tapes market is categorized by Specialty tapes, which is further bifurcated into acrylic, rubber, and silicone. On the basis of region the global pressure sensitive tapes market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.
Recent times have witnessed quick urbanization and industrialization as a combination to the expanding populace in emerging economies. These conditions have led the governments to build their development spending so as to take into account rising framework needs. This, thusly, is foreseen to fuel the demand for pressure sensitive tapes in different development applications over the figure time frame. Moreover, the rising concerns regarding car light pressuring over the globe have prompted expanded adoption of tapes through substitution of routinely utilized products, for example, clasp and glues.
It is expected that the global pressure sensitive tapes market will grow at a CAGR of 4.1% reaching a market size of about USD 75.4 billion by the year 2026.
However, a couple of concerns hindering the growth of this market include Variances in raw material costs are an aftereffect of changes in unrefined petroleum costs and notably affect acquirement cost for makers. Notably, sanctions forced on import of unrefined oils are probably going to impact the general oil costs, bringing about changes in raw materials costs.
Here are some more points to help explain about the global pressure sensitive tapes market:
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