Market Overview:

The Adhesive Tapes industry size is predicted to grow from $ 60.6 billion in 2020 to $ 79.4 billion by 2025, with a CAGR of 5.2% over the foreseen period. Adhesive tape can be defined as a continuous flexible strip made of paper, metal foil, cloth, or plastic film coated with a thin layer of permanent tacky adhesive on one or both sides. These tapes are available in rolls or sheets of various sizes on the industry and are commonly referred to as pressure sensitive tapes, tapes, self-adhesive tapes, and adhesive tapes. These tapes are escalatingly employed to bind and package products associated with the food and beverage, healthcare, and e-commerce industries. There is a strong call for adhesive tapes in the healthcare, electrical, electronics and automotive industries as manufacturers are primarily focemployed on introducing a new variety of products with improved properties. In addition, the use of health services, knowledge of hygiene products, infrastructure development and improvement of electronic equipment increase the call for adhesive tapes.

Market drivers and restraints:

The main driver of expansion in the adhesive tapes industry is the expanding automotive industry. In this industry, tapes having adhesive properties are mainly employed in the form of double-sided tapes and protective tapes. Since mechanical fasteners such as bolts and screws add to the weight of vehicles, these products are escalatingly being replaced by lightweight adhesive solutions. Therefore, the escalating adoption of these tapes in the automotive industry is predicted to boost the adhesive tape industry. Strict regulatory standards for health reasons are the main limitation in the adhesive tape industry. Chemicals such as azodicarbonamide (ADCA), silane and formaldehyde are employed in the manufacture of adhesive solutions. Since these chemicals are dangerous and can have a negative impact on health, companies that are in the business of producing these chemicals adhere to various safety standards. Additionally, growing health problems are reflected in legislation to limit the use of these chemicals in several countries. Therefore, it is negatively impacting the expansion of the Adhesive Tapes industry. Eco tapes are made of biodegradable polymers obtained from polymerization of bio-based raw materials, which are a good alternative to petroleum-based raw materials.

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Report segmented as:

By type:

Commodity
Specialty tapes
By technology:

Water-based
Solvent-based
Hot-melt based technologies
By end use industry:

Packaging
Consumer and office
Healthcare
Automotive
Electrical and electronics
Building and construction
others
Geographical analysis:

APAC is the fastest growing industry for adhesive tapes and its share is attributed to the growing healthcare industry. Consumers are becoming more and more health and fitness conscious. This is driving call for these bands in the region’s health sector. However, North America was considered to have the largest industry share in 2020 and is predicted to grow in the coming years. It is followed by Europe, which is predicted to see steady expansion over the foreseen period. APAC, with its positive expansion figures and economic outlook, has proven to be a potential industry for these types of tapes in all industries. In the coming years, APAC is predicted to be the fastest growing industry with high consumer value for these tapes. Healthcare is the largest industry by application due to its diverse use in surgical vessels, monitoring electrodes, and other medical devices. The segment is likely to experience rapid expansion due to escalating call from the APAC region, which is also predicted to be the fastest growing industry due to increased awareness of health and disease risks.

Important market players:

The key players operating in the adhesive tapes are 3M Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), Lintec Corporation (Japan), Intertape Polymer Group (Canada), Avery Dennison Corporation (US), Lohmann GmbH (Germany), Berry Global Inc. (US), Scapa Group PLC (Canada), and Rogers Corporation (US).

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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