Selbyville, Delaware, Aug. 11, 2021 (GLOBE NEWSWIRE) -- As per the latest Global Market Insights Inc. research report, the Labels, Tapes and Films Market size is estimated to reach over $4.5 billion by 2027, registering a CAGR of 5.1% from 2021 to 2027 owing to the growing penetration of technologically advanced smartphones and tablets in developed nations. The research report provides a detailed analysis of the market size & estimations, major investment pockets, the competitive scenario, drivers & opportunities, top winning strategies, and wavering market trends.
The labels, tapes and films market for electronics industry is highly competitive with the presence of several small- to medium-scale companies. Rising apprehensions over e-wastes may drive the need for sustainability in the sector. The labels, tapes and films manufacturer are also addressing the demand for eco-friendly materials, which will pave way for environmental-friendly products in the near future. For instance, in 2021, FLEXcon introduced Nexgen polypropylene films, which is a greener, sustainable & non-vinyl solution for a wide range of industries.
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Films will be accelerating at 4% compounded annual growth rate during the study timeframe. This product can be manufactured using a variety of materials such as acrylic adhesive, rubber, polyethylene, polypropylene, etc., to prevent surfaces from scratches. These products have a special adhesion system to prevent adhesion transfer after the removal of the film from the surface. These adhesive films are used to protect a range of surfaces, such as polished finish, mirror finish, anodized finish, mill finish, painted metals, textured surfaces, etc.
Computers & laptops will be capturing over 25% share of the global labels, tapes and films market from consumer electronics from 2021 to 2027. Growing urbanization & working-class population and enhancement in work from home culture will spur the sales volume of computers & laptops during the study timeframe. Tapes are extensively used in the computers & laptops segment for applications including screen assembly, fixing the camera, microphones, and other electronic components.
Europe to continue its top status in terms of revenue:
The Europe industry will rise at 4.3% through 2027. In 2019, the region’s electronic production was valued at USD 337.2 billion, which can be attributed to the rising population, high consumer spending tendency, and changing lifestyles.
China will be a leading country in the global labels, tapes & films sales throughout the projected timeframe. This country has positioned itself as a leader in electronics production in recent years along with setting up a well-established manufacturing base for labels, tapes, and films.
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Leading market players:
Major companies in the labels, tapes, and films industry are 3M Company, Avery Dennison Company, UPM-Kymmene Corporation, FLEXcon Company, Inc., ORAFOL Europe GmbH, Scapa Group Ltd, American Biltrite Inc., MACtac Americas LLC, CCL Industries, Hinsitsu Screen Sdn Bhd and Tesa SE. Industry players are focused on product development, merger & acquisition, strategic partnership & joint venture, and R&D investment strategies over the long run.
About Global Market Insights Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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