Labels, Tapes And Films Market Size
With their better qualities than traditional fastening techniques, labels, tapes and films market for electronics industry size valued at roughly USD 3.5 billion in 2020 and is projected to show 5.1% CAGR from 2021 to 2027. With a CAGR of 4% in terms of volume, the sector is expected to expand to reach a valuation of 4,839.6 Million Square Meter over the expected period.
Reliable and efficient fastening solutions for their products are the main priorities of consumer durable companies. Rising technological developments in the realm of bonding and joining materials will influence demand for products all around. Because of their outstanding UV resistance, long-lasting bonding strength, and great viscoelasticity, adhesive tapes are becoming rather popular among appliance manufacturers.
Rising consumer electronics and domestic appliances all around the world is another important element promoting growth. Because of rising population and consistent economic development, China and India have been seeing improvement in terms of disposable income. Rising consumer buying behavior in reaction to air conditioners, washing machines, televisions, cellphones, etc. is driving product development in the local market.
USD 20 billion is the projected global consumer electronics market revenue in 2020. Growing residential and commercial building construction worldwide is driving demand for air conditioning as well. Demand for air conditioners in China reached 44.63 million units in 2018; this is further predicted to boost the labels, tapes and films business for electronics sector by 2027.
| Report Attribute | Details |
|---|---|
| Base Year | 2020 |
| Labels, Tapes and Films Market Size in 2020 | 3,491.8 Million (USD) |
| Forecast Period | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR | 5.1% |
| 2027 Value Projection | 7,247.9 Million (USD) |
| Historical Data for | 2017 to 2020 |
| No. of Pages | 215 |
| Tables, Charts & Figures | 203 |
| Segments covered | Product, Application, & Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
The continuous coronavirus epidemic is expected to slow down industrial growth in 2020, which is under the output of important national electronics. The closing of big consumer appliance facilities along with a shortage of workers and resources will reduce electronics output during the epidemic. Rising coronavirus numbers and disturbed supply chain activity have caused severe effects on Europe and North America.
Countries depending on imports to satisfy their domestic demand would suffer significant losses in terms of labels, tapes and film sales in the electronics industry between 2020 and 2021. Projected to drive industry share by 2027 is the consistent output of electronic goods coupled with the reopening of international trade globally.
Labels, Tapes And Films Market Analysis
Growing use of tapes in consumer electronics and residential appliances means that they generated over USD 1.5 billion in 2020. Depending on the need, electronic producers use a range of tapestransfer tapes, packing tapes, masking and sealing tapes, specialty tapes, etc. End customers are giving adhesive tapes great attention because of its outstanding waterproofing, noise reduction, stress reduction on parts, etc.
Key drivers of segment development in the business by 2027 will be the growing requirement for dependable and speedier bonding solutions in the sector coupled with rising electronics demand in most of the world. Growing consumer inclination for small and lightweight products, which is expected to improve segment growth from 2021 to 2027, is driving miniaturizing of the electronics sector as well.
Smartphones are predicted to create a massive wave of growth in the market for labels, tapes, and films for electronics. Over the next few years, this market is expected to soar past 2.5 billion square meters. At the heart of this growth is the booming smartphone industry. In 2019, the world witnessed a staggering 1.5 billion smartphones sold. And the experts predict this number will only climb higher by 2027. So, what's driving this smartphone frenzy? It's a combination of factors, including rising incomes, booming economies, and the desire for consumers to stay ahead of the curve with their smartphones. To fuel this growth, governments in major smartphone hubs like India and China are rolling out initiatives to ramp up manufacturing. This will encourage new players to enter the smartphone market, promising even more innovation and excitement by 2027.
Hey there! This is a fascinating tidbit you might find cool. In the next few years, the market for labels, tapes, and films used in electronics in the Asia Pacific area is predicted to expand wild-like. It's expected to be valued a whooping $3.2 billion by 2027! That yearly growth rate is 5.5%. How is this occurring? Countries including China, Japan, India, South Korea, and Taiwan are producing increasingly more electrical and electronic products. To package and guard their goods, they also require such labels, tapes, and films. With more than 35% of the world's market share, China is the top electronics producer in the planet. With about 12% of the world's share, Japan is also rather prominent. That's not all, though. These nations' residents are likewise purchasing more technology than they have ever done. for what reason? They are first earning more money to spend. They also find it simpler to get their hands on reasonably priced appliances. This is driving a great demand for films, tapes, and labels overall. Thus, if you own such a company, the Asia Pacific area is a fantastic location to be!
Labels, Tapes And Films Market Share
Labels, tapes and films industry is moderately fragmented with key top companies accounting for a limited share. Some of the key manufacturers in the industry are
- 3M
- Avery Dennison
- UPM Corporation
- Scapa Group
- tesa SE
- FLEXcon Company, Inc.
- American Biltrite
- CCL Industries.
These companies compete by implementing various strategic initiatives such as production capacity expansion, new product launches, mergers & acquisitions, etc. In March 2021, Avery Dennison Corporation announced a strategic acquisition with JDC Solutions, Inc. This agreement will further boost the company’s capability in offering adhesive tape solutions to consumer appliances suppliers. Such initiatives are expected to drive top companies’ dominance to some extent in the industry.
A growing number of small- to medium-scale labels, tapes and films suppliers for electronics industry in China will drive down the competitiveness of top companies. This is due to the limited scope in differentiating labels, tapes and films from each supplier and the prevalence of bulk order supply in the sector.
The Labels, Tapes and Films Market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Square Meter and revenue in USD Million from 2017 to 2027 for the following segments
By Product
- Labels
- Tapes
- Films
By Application
-
Consumer electronics
- Computers & laptops
- Smartphones
- Tablets
- Others (disk drives, digital cameras, etc.)
- Home appliances
- Television
- Refrigerator
- Washing machine
- Air conditioner
- Others (ovens, vacuum cleaners, dishwashing machines, etc.)
The above information has been provided on a regional and country basis for the following
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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