The pressure sensitive tapes and labels market generated total revenue of USD 90 billion in 2022. The industry is anticipated to rise at a healthy CAGR of 6% over the forecast period, to attain market revenue of USD 170.85 billion by 2033. The amplified growth in the packaging industry, underpinned by the surging demand from the food packaging sector and e-commerce goods, is projected to augment the market in focus.
Key Elements Determining Market Development:
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| Attribute | Details |
|---|---|
| Pressure Sensitive Tapes and Labels Market Value (2023) | USD 95.40 billion |
| Pressure Sensitive Tapes and Labels Market Forecast Value (2033) | USD 170.85 billion |
| Pressure Sensitive Tapes and Labels Market CAGR (2023 to 2033) | 6% |
The pressure sensitive tapes and labels market attained revenue of USD 90 billion in 2022. In the historical period, the demand outlook for the market was shaped by the surging utilization of the product in the interior parts of the automotive to augment resistance and superior adhesion quality. In addition to this, the rising global trade relation as a consequence of the rising adoption of online retailing has pulled up the demand for packaging. This is propelling the demand for pressure sensitive tapes and labels over the forecast period.
The market is estimated to generate market revenue of USD 170.85 billion by 2033, thriving at a CAGR of 6% in the forecast period. Future Market Insights (FMI) inspects key trends impacting the market over the following time durations:
| Year | Expected Valuation |
|---|---|
| 2025 | USD 107.19 billion |
| 2028 | USD 127.67 billion |
| 2032 | USD 161.18 billion |
The paper segment is projected to be driven by the extensive deployment of paper as a backing material in pressure sensitive adhesives and tapes due to its key attributes like resistance, high stretchability, and absorption of up to 180° C, etc. Also, soft papers are commonly utilized in adhesive tapes for packaging or as a model for sandblasting. In addition to this, the application of crepe paper in masking and painter’s tapes, besides the development of high-value hemp-based paper is projected to catalyze the production of pressure sensitive tapes and labels.
The single-sided adhesion segment is estimated to contribute to the market growth of pressure sensitive tapes and labels. The segment, over the forecast period, is projected to witness market growth of 6%. The single-sided adhesion segment is used for carton sealing, electrical, masking, and medical tapes, among other industrial applications. In the consumer electronics sector, specialty single-sided adhesive tapes boost structural integrity and simultaneously protect against heat, vibration, and electrostatic discharges. Surging expenditure on electronic goods is, therefore, assessed to propel market development of labels and tapes with single-side adhesives.
The food and beverage segment is projected to support the market growth of pressure sensitive tapes and labels over the forecast period. The segment growth can be attributed to the robust expansion of retail channels and the introduction of strict government mandates for packaged food products. Take for instance, the Food Safety and Standards Authority of India, which revised the Food Safety and Standards (Labeling and Display) Regulations, 2020 to provide extensive data on the utilized ingredients on packaged food labels. Such modifications contain the explanation of FOPNL (Front-of-Pack Nutrition Labeling) and HFSS (High Fat, Sugar, Salt). Initiatives of such kind are anticipated to push the sales of pressure-sensitive labels to deliver insights regarding the nutritional value of food items.
The robust logistics sector reflects the economic growth of the country. The accelerating growth of the logistics segment enables the movement of goods in the supply chain so that the goods eventually reach the consumer. The flourishing logistics sector, owing to the rise in e-commerce sales, is pushing the sales of flexible packaging, which is gaining traction on account of the consistently changing purchasing behavior of consumers. A shipping label is crucial for inbound and outbound logistics alike and helps in optimizing order fulfillment operations. Clear tapes have become important in logistics sector to protect the labels. As a result, the increasing sales of consumer products are propelling the consumption of pressure sensitive tapes and labels for packaging purposes.
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The United States pressure sensitive tapes and labels industry is being stimulated by the robust expansion of packaging, and food and beverage businesses in the country. These new developments in the market are a result of evolving consumer preferences for convenience, foods, improved lifestyle, and security issues and costs. Additionally, the mounting consumer expenditure on new vehicles is also projected to utilize labels and tapes in automotive applications, thus invigorating the market outlook in the United States. Furthermore, the significant development of automotive, electrical and electronics, and medical sectors, is also projected to bolster the application of pressure sensitive tapes and labels in the country.
China pressure sensitive tapes and labels market is expected to witness significant growth, in terms of CAGR, in the coming years. The market growth can be credited to the increase in general manufacturing in the country. In addition to this, an increase in logistics activities, in turn, boosts the requirement for pressure sensitive tapes and labels. Furthermore, the surge in demand for adhesives with low volatile organic compound (VOC) content from countries in Asia such as Japan, China, and India is boosting the demand for water-based pressure sensitive adhesives.
The thriving manufacturing industry with increasing investments from key manufacturers is projected to yield significant market growth over the stipulated time frame. Additionally, the large production of products and surging exports are complementing the market growth in China.
The pressure sensitive tapes and labels industry in the United Kingdom is expected to be propelled by the rising consumption of packaged food items. With an increase in the working population and growing disposable incomes, awareness regarding healthy lifestyles and the demand for packaged foods has risen. In addition to this, the rapid presence of food processing facilities is projected to intensify the demand for pressure sensitive labels and tapes for several packaging applications in the United Kingdom. Moreover, the substitution of adhesives with tapes is anticipated to positively influence market growth over the upcoming years.
Market players operating in North America, Asia Pacific, and Europe are concentrating their efforts to manufacture high-quality products fit for consumption in the international market. Numerous companies in the market are raising their investments for research and development of new technologies, such as water-based and hot melt, to offer solvent-free adhesives.
Better adhesion provided by solvent-based technology is promoting its utilization in Europe as manufacturers and customers are emphasizing quality as opposed to prices. Nevertheless, rising competition from manufacturers in Asia that are offering low-cost products and materials is a key element limiting the prospects of Europe-based manufacturers.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million/ billion for Value |
| By Backing Material | Polypropylene, PVC, Paper, Cloth, Others |
| By Adhesion | Single Sided, Double Sided, Adhesive Transfer |
| By Product | Tapes, Labels |
| By End-user | Food and beverage, Healthcare, Logistics,Automotive and Transportation, General Manufacturing, Others |
| By Region | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Covered | The United States, Brazil, Mexico, Canada, The United Kingdom, Germany, France, Spain, Italy, Russia, Argentina, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, Australia, Poland, China, New Zealand, Japan, GCC countries, South Africa, others |
| Key Players | Rogers Corporation; Scapa Group Ltd; American Biltrite; Gaska Tapes Inc.; Mactac Americas, LLC.; LINTEC Corporation; UPM; Fuji Seal International, Inc.; Others |
The pressure sensitive tapes and labels market CAGR for 2033 is 6%.
The market is estimated to reach USD 170.85 billion by 2033.
The fluctuating raw material prices is the key challenge in the market
The market is estimated to secure a valuation of USD 95.40 billion in 2023.
Increasing demand for sustainable products and the growing e-commerce industry.
| Estimated Size, 2024 | USD 1,558.3 million |
|---|---|
| Projected Size, 2034 | USD 2,374 million |
| Value-based CAGR (2024 to 2034) | 4.3% |
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Pressure Sensitive Tapes and Labels Market
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