India's Pressure Sensitive Tape Market Fourth Largest in the World

News provided by

Apr 22, 2019, 13:20 ET

CLEVELAND, April 22, 2019 /PRNewswire/ -- Pressure sensitive tape demand in India totaled 2.0 billion square meters in 2018, making the country the third largest tape market in the Asia/Pacific region and the fourth largest globally. Due to the country's vast population, its lack of adequate infrastructure, and the relatively underdeveloped state of many local industries, India's tape consumption relative to GDP and manufacturing output is among the lowest in the world. These and other trends are presented in Global Pressure Sensitive Tapes, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/global-pressure-sensitive-tapes-3685.htm

India has become a net exporter of PSA tape over the past decade, thanks to foreign investment by market leaders:

Intertape Polymer began construction at a plant in Bharuch in 2017 for carton sealing tapes.
Scapa Group opened a facility for automotive tapes in Chennai in May 2018.

Developed countries, including the US, Germany, and Spain, are major export destinations. However, lower cost domestically produced tapes face competition from China, the primary importer to the Indian market.

Production of pressure sensitive tape in India is forecast to increase at a 7.4% annual pace through 2023 to 3.3 billion square meters. Robust growth in the local PSA tape market will be the primary driver of expected advances, with exports contributing to a lesser extent.

Global Pressure Sensitive Tapes (published 03/2019, 359 pages) is available for $6400 from The Freedonia Group. Please link citations to https://www.freedoniagroup.com/World-Pressure-Sensitive-Tapes.html

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Packaging studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
[email protected]

SOURCE The Freedonia Group