The global press release tapes market is characterized by the presence of several large to medium-sized manufacturers. Press release tapes have high preference, due to a wide array of applications. Press release tapes are commonly used for sealing, holding, repairing, color-coding, and water-proofing a surface in various industries such as, automotive industry, building & construction, electrical & electronics, and other general purposes as well as industrial activities. Manufacturers prefer press release tapes to seal heavy duty packaging sealing, bundling, and wrapping.
Also, press release tapes are used in various household DIY activities, which is expected to ensure high preference for them, over the forecast period. The complementary nature of press release tapes, added with ease in removal is expected to ensure that press release tapes remain as useful as they are today, in the days to come. Therefore, the outlook for growth of the global press release tapes market is expected to remain largely positive, during the next ten years.
Global press release tapes market: Introduction
The global press release tapes market is expected to grow on the backdrop of the global building & construction sector growth. As countries in the Latin America and Eastern Europe regions struggle to come out of the clutches of the effects of the recession of 2015, the building & construction sector in these regions might suffer due to low budget, and prioritized expenditure of the govenrments, until the economies reach a state of normalcy. However, demand is expected to be steady from Asia Pacific countries and the Middle East. In addition, the global press release tapes market is expected to be driven by the demand for durable tapes, which do not compromise on adhesion quality.
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Since press release tapes do not rely on solvent, water or heat to activate the adhesive, they enjoy major preference over their counterparts. The global press release tapes market is also expected to grow on the backdrop of global pressure sensitive adhesive market growth, over the forecast period. Other characteristics of press release tapes which increases their preference are – elimination of the need for surface refinishing, reduction in assembly time, and provision of thinner and lighter materials, among others. Therefore, it is anticipated that the global press release labels market will continue to grow as a solution to fastening and joining, triggered by advancements in adhesive technology.