Global Adhesive Tapes Market to be of worth USD 85.9 billion by 2026
Published | 16 July 2020
The surge in disposable income, alterations in lifestyles of the people and increased dependency on electronic devices' usage are expanding the sales of electronic devices in Asian countries. The tendency toward miniaturization of electronic devices, especially cell phones, portable personal computers, and tablets, is a central element driving the adhesive tapes market internationally.
Adhesive tapes are widely deployed in various automotive applications such as wire harnessing, electric insulation, and automotive body repairs, masking, and surface protection. The surge in usage of adhesive tapes in automotive interior parts to deliver improved confrontation and excellent bond-ability is likely to push the adhesive tapes market during the prediction period. Demand for adhesive tapes has been surging in the packaging-end-use industry due to its wide range of applications in unitizing, palletizing, carton sealing, bundling, and general packaging.
Adhesive tape can be defined as a continuous flexible strip made of paper, metal foil, cloth, or plastic film layered with a thin coat of enduring glutinous adhesive on one or both sides. These tapes are available in the form of rolls or sheets of varied sizes in the market and are commonly known as self-sticking tapes, pressure-sensitive tapes, and sticky tapes.
Double-coated tapes are expected to substitute old-style sealing and adhesion techniques, due to their rise in ingesting due to their stability, excellent surface adhesion, and high shear strength. Strong production base, the rapid growth of the automotive sector, and replacement of bolts, traditional fasteners, screws, and rivets with adhesive tapes are projected to push the adhesive tapes market through the globe.
Single-coated adhesive tapes captured the global adhesive tapes market in 2018. Single-coated tapes contain adhesive applied to one side of a support. The adhesive could be composed of silicone, natural rubber, or acrylic, while the backing material could be paper, foil, nonwoven, polymeric film, or high thread count weaved cloth. These tapes, which comprise masking, medical tapes, carton sealing, electrical, and BOPP adhesives, facilitate the closeness of a material with a surface and the joining of two adjacent or overlying materials.
Rising usage of adhesive tapes in diverse applications
The widespread practice of adhesive tape usage in various industries such as automotive and food and beverage is an essential factor propelling the market. Automotive manufacturers are progressively accepting adhesive tapes in place of mechanical fasteners such as bolts and screws to decrease the vehicles' weight and provide better fuel efficiency. The growth of the healthcare sector is another factor in promoting the market growth. The sector uses adhesive tapes majorly for wound care, assembly of medical devices, attributing electrodes on the skin, and fixing cover shields during surgeries. Besides, skin-friendly adhesive tapes are extensively applied in the manufacturing of infant and adult diapers. Moreover, the rising demand for eco-friendly water-based adhesive products joined with the introduction of recyclable tapes made from biodegradable polymers has increased the market development. Furthermore, the rising trend of online shopping is feeding the demand for retail packaging and distribution materials, which has resulted in an increased obligation of adhesive tapes across the sphere.
Increasing demand for adhesive tapes in Asia-Pacific
The Asia Pacific region is anticipated to fetch a promising rate in the coming years owing to the growth in technology. Furthermore, raw materials are readily available in the Asia Pacific, and the manufacturing infrastructure is advancing as per the needs of the units. Middle East & Africa is also a prominent market for adhesive tapes due to the substantial rise in commercial & substructure activities and current low market saturation in the region.
Global Adhesive Tapes Market: Competitive Landscape
APAC is a significant primary adhesive tapes market and is predicted to be the fastest-growing market during the forecast period. The region is seeing healthy development due to ongoing R & D progressions and other related activities in healthcare, electrical & electronics, and automotive industries. The adhesive tapes market in developing economies, such as South Africa, China, India, Brazil, and Indonesia, is expected to witness significant development. In contrast, more advanced markets such as the US, Germany, Japan, and the UK, will see slow or no growth during the prediction period. China is probably the major contributor, mostly led by the high demand from heavy industries and consumer product manufacturing segments.
Socio-economic growth donates to the development of the global adhesive tapes market in the country. Besides, the low cost of raw materials and easy accessibility of inexpensive labor for their manufacturing have induced the augmented production of low-priced tapes in APAC, which has funded to the development of the adhesive tapes market in this region.
Some of the leading players operating in the Global Adhesive Tapes Market 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), 3M Company (US) and other prominent players.
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The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Global Adhesive Tapes Market size & forecast. The report promises to provide state-of-the-art technology of Global Adhesive Tapes Market and industry insights, which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive analysis of the market.
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