CLEVELAND, July 16, 2018 /PRNewswire/ -- Demand for
duct tape is projected to increase 3.6% per year to
$403 million in 2022, above the
average of PSA tape overall. Rising spending on building and
construction will boost demand for HVAC systems, which will support
sales of higher-value professional grade duct tape, driving dollar
gains. Broader distribution beyond hardware and home goods stores
has also contributed to rising sales, with duct tape often found in
crafts stores, drug stores, and mass retail stores. Going forward,
advances will be aided by ongoing interest in creative and
decorative options for duct tape, as well as demand for
higher-performing grades in maintenance applications. These and
other trends are presented in Pressure Sensitive Tapes in the
US, 12th Edition, 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/pressure-sensitive-tapes-3645.htm
Pressure sensitive tape demand overall is relatively
acyclical, due to its use in multiple applications. Prices will
increase, reflecting the higher value of specialty tapes and rising
prices for oil, a key raw material in the manufacture of PSA tapes.
The US remains a net exporter of PSA tapes, owing to its
technological expertise and specialty offerings. PSA tapes exhibit
performance advantages over competitive joining and sealing
methods, such as welding and mechanical fasteners.
Consumer electronic devices – including thermostats and
appliances – are increasingly interconnected via internet to
enhance efficiencies. Known as the Internet of Things (IoT),
this network enables users to remotely monitor and control devices
in their homes. As the number of electronic devices per house
increases, PSA tapes will see increased use, both in the
manufacture of these products and among end users who opt to mount
their devices or bundle and support wires and cables.
Related studies include:
#3623 Adhesives & Sealants in the US, 3rd Edition
(April 2018)
#3585 Labels Market in the US, 12th Edition
(November 2017)
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 https://www.freedoniagroup.com, www.marketresearch.com and
www.profound.com.
Press Contact:
Corinne
Gangloff
+1 440.684.9600
cgangloff@freedoniagroup.com
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SOURCE The Freedonia Group