Developing Markets Worldwide Drive Demand for Pressure Sensitive Tapes
(USA, Nov. 8, 2016) Advances in the global market for pressure sensitive tapes will generally be the strongest in the developing markets worldwide. The Asia/Pacific region, which is already the largest regional market, will continue to register above average gains. China will remain the largest market by a wide margin and will continue to post above average increases. The Africa/Mideast region will register the most rapid growth through the forecast period (2020 & 2025), but will still account for less than five percent of global demand by 2020.
These and other trends are presented in World Pressure Sensitive Tapes, a new study from The Freedonia Group, a Cleveland-based industry research firm.
International trade plays a big role
International trade of tapes is considerable. Historically, pressure sensitive tape production has been concentrated in a handful of countries, particularly the US, Italy, Taiwan, and China. China has grown to become the largest tape producer and exporter by a wide margin. The US remains a large manufacturer and exporter of specialty tapes, although it imports a significant amount of commodity tapes, mainly from China and Taiwan. Italy supplies much of the European market, although Italian producers face greater competition from Chinese suppliers, even in their domestic market. Taiwan still manufactures tape at a level far in excess of its domestic requirements, although some leading Taiwanese producers have shifted output capacity to China, both to save on manufacturing costs and to be nearer to customers.
North America, Western Europe & Japan markets face maturity
The more mature markets of North America, Western Europe, and Japan will continue to account for a substantial share of worldwide demand for pressure sensitive tape — more than one-third of the total in 2020. In the US, modest gains in manufacturing output will support sales of carton sealing tapes. In Western Europe, rebounding construction activity following a long period of decline will heighten the usage of masking and other tapes. Japan’s economic growth will remain slow, but the country will remain a significant producer and consumer of specialty tapes, such as those used in motor vehicle and electronics assembly.
World Pressure Sensitive Tapes is available from The Freedonia Group. For further details, please visit: www.freedonia.com (Source: The Freedonia Group, Inc.)