Asia-Pacific to Dominate the Market
The Asia-Pacific dominated the bopp tape market in 2018 and is anticipated to continue so during the forecast period. Japan is one of the major markets for packing tape,jumbo adhesive tape, owing to the massive production of appliances, and health care products.
The growing packaging industries in countries, like China, Japan, and India, are further expected to augment the demand for adhesive tapes.
China state council announced a 10-year manufacturing plan called 'Made in China 2025', which focuses on high-end equipment manufacturing in various segments, like automotive, appliances, etc. This is expected to drive the demand for adhesive tapes in the country.
China remained as the global leader in the production of automobiles across the world, with a production of 27,809,196 units in 2018. Though there is a huge decrease in the production of automobiles in China, there is a considerable demand from the current manufacturing vehicles.
From the above-mentioned factors, it is evident that the demand for adhesive tapes is expected to further increase in the Asia-Pacific region, over the forecast period.