Adhesive Tapes Market It is anticipated to grow at a CAGR of 3.5% from 2019 to 2030.
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 billion in 2019. It is anticipated to grow at a CAGR of 3.5% from 2019 to 2030.
Incessantly growing usage of adhesive tapes in diverse applications, such as healthcare packaging, white goods, electrical & electronics, automotive, building & construction is propelling the global adhesives tapes market.
Due to ease of applicability of adhesive tapes, it is widely used across applications. User-friendliness, reduced vibration, bonding of dissimilar materials are some of the key attributes of adhesives tapes. Due to their ability to reduce noise and vibrations, it finds usage in applications such as, white goods, automotive, aerospace& defense.
The healthcare segment is anticipated to witness highest CAGR during the forecast period. Rampant usage of specialty tapes for monitoring electrodes, on surgical containers, and other medical devices is one of the key factors driving its demand. Adhesive tapes are also used in the manufacture of adult incontinence productsand disposable infant diapers. Extensive usage of medical tapes in hospitals to cover wounds, for cleaning purposes in antiseptic rooms and for fixing cover shields during surgeries are other key factors that are bolstering its demand globally.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, 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 in detail along with the table of contents:https://www.marketindustryreports.com/adhesive-tapes-market/128
The growth of the market can also be attributed to rising demand from packaging industry where it is used to manufacture high-end equipment in various segments. In Automotive industry, weight reduction has become essential part of vehicle design with rising consumer and government call for lower carbon emissions, enhanced passenger comfort, passenger safety, and improved performance.To accomplish this, smaller and more efficient power systems are important which requires lighter and more efficient designs. Automotive adhesive tapes are designed to withstand varied environmental conditions, including moisture, salt spray, temperature variances, and UV radiation. There has been significant reduction in the amount of noise in the vehicles due to the advanced properties of adhesives tapes.
Natural rubbers, foam, films, paper, PVC, and release liners are used as a raw material in manufacturing of adhesive tapes. Most of these raw materials are petroleum-based derivatives that are vulnerable to fluctuations in the cost and availability of feedstock. This is expected to restrain the growth of the adhesive tapes market.
Asia Pacific is expected tohighest CAGR in adhesive tapes market over forecast period. Growth of the Asia Pacific region is expected to be hinged at countries, such as India, China, Singapore, South Korea, Vietnam,and Taiwan. China is expected to continue its dominance for adhesives tapes in the Asia Pacific region.
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, among others.
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