October 08, 2021
As cited by the research report titled ‘Labels, Tapes And Films Market For Electronics Industry Size, Share, Industry Analysis By Product (Tapes, Labels, Films) and Application (Consumer Electronics, [Computers & Laptops, Smartphones, Tablets], Home Appliances [Television, Refrigerator, Washing Machine, Air Conditioning) Regional Outlook, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global labels, tapes and films market for electronics industry is estimated to expand significantly over 2021-2027.
Technological advancements in the product, coupled with growing demand for electronics and household appliances are the major factors driving global labels, tapes and films market for electronics industry growth.
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Moreover, the covid-19 pandemic induced restrictions have compelled people to connect virtually for work, entertainment, and social engagements, thus augmenting the demand for smartphones, laptops, tablets, and AI-integrated television, including other electronic appliances. This factor, in consort with rising focus on product upgradation and technological innovations are positively swaying the market dynamics.
Based on product, global labels, tapes and films market for electronics industry is segmented into tapes, labels, and films. Among these, tapes segment is likely to grow with a 5.6% CAGR over the estimated timeline, owing to rising demand for durable packaging tapes in the electronics industry.
Considering application range, the marketplace is categorized into consumer electronics (tablets, computers & laptops, smartphones, and others), and home appliances (washing machine, refrigerator, television, air conditioner, and others). Among these, the tablets segment is poised to showcase lucrative growth trends over the projected timeframe, due to growing work-from-home culture, and increasing focus on e-learning in schools and universities.
The regional scope of global labels, tapes and films market for electronics industry consists of North America, Asia Pacific, Europe, and Latin America. Of these, Latin America market is likely to expand at 2.4% CAGR in terms of volume over the assessment period, owing to higher reliance on import to meet electronics demand across the region.
Prominent players influencing the industry trends are tesa SE, Hinsitsu Screen Sdn Bhd., CCL Industries Inc., Mactac Americas LLC, American Biltrite Inc., Scapa Group Ltd., ORAFOL Europe GmbH, FLEXcon Company Inc., UPM-Kymmene Oyj, Avery Dennison Corporation, and 3M Company. These industry players are focusing on acquisition, partnerships, mergers, and product development, to monetize the surging product demand and amplify their profit returns.