Pressure sensitive tapes in Asia/Pacific to grow 5.3% annually
Demand for pressure sensitive tapes in the Asia/Pacific region is projected to increase 5.3% per year to 28.3 billion square meters in 2020, according to a study by The Freedonia Group (freedoniagroup.com). Growth will be boosted by continued economic expansion in much of the region, particularly in India and Indonesia, as well as China and a number of smaller countries.
According to analyst Mike Richardson, “China’s tape demand is expected to decelerate considerably from the nearly double-digit annual gains registered between 2005 and 2015, but it will still be among the world’s fastest growing tape markets in 2020, and will remain by far the largest market.”