Adhesive Tapes Market by Resin Type (Acrylic, rubber, silicone), Technology (Solvent, Water and Hot-Melt-Based), Substrate (PP, Paper, PVC), Application (Packaging, Healthcare, Electrical & Electronics, Automotive) - Global Analysis & Forecast 2019-2030
Report ID : 128 | Published Date : May 2020 | Pages : 160 | Region : Global | Report Code : CM-10
Adhesive Tapes Market Overview and Introduction
Market Industry Reports (MIR) has published a new report titled “Adhesive Tapes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global adhesive tapes market is estimated to be over US$ 58 Bn in 2019. It is anticipated to grow at a CAGR of 3.5% from 2019 to 2030.
Rampant usage of adhesive tapes across industries due to its properties such as high cohesive strength, fast processing, and others, is one of the pivotal factors driving the global adhesive tapes market.
Reduced waste handling is another critical factor that is expected to fuel its demand in the coming years. Adhesive tapes also do not require additional water, solvent or heat to strengthen the adhesive forces, which makes them easier to apply. On the other hand, high manufacturing costs resulting from high raw material & energy costs is likely to restrain market growth to a certain extent.
Adhesive Tapes Market By Applications
Adhesive tapes find extensive applications in electronic & electrical devices, packaging, healthcare, automotive, construction, and others. Owing to several advantages offered by adhesive tapes, they are expected to replace mechanical fasteners, primarily in the automotive, defense, and aerospace sectors. Avoiding hassles of mixing up materials, ease of application and negligible settling time are factors that are expected to play a significant role in the growing popularity of adhesive tapes in a broad spectrum of industries.
Adhesive tapes are also gaining widespread popularity owing to environmental friendliness. Along with reduced waste handling, they offer several other advantages such as the convenience of applying with hands and no harmful emissions post the application. Furthermore, these tapes do not leave any marks on walls, metals, etc. when removed, further expanding their scope of application.
Most raw materials, including rubber, films, foams, paper, PVC, adhesives, etc., are petroleum-based derivatives that are vulnerable to fluctuating prices. Limited availability of raw material at reasonable prices coupled with high energy costs is expected to adversely impact the manufacturing of adhesive tapes.
Adhesive Tapes Market By Regions
Asia Pacific is estimated to grow at the highest CAGR owing to the high demand from China, India, Singapore, South Korea, Taiwan, and Vietnam. China is expected to lead the global adhesive tapes market due to its ever-expanding manufacturing sector followed by India.
Adhesive Tapes Market By Prominent Players
Some of the prominent players operating in the adhesive tapes market are 3M Company, Shurtape Technologies, LLC, Avery Dennison Corporation, Intertape Polymer Group, Inc., Scapa Group Plc, Tesa SE, Nitto Denko Corporation, Lintec Corporation, and others.