New York (US), May 22, 2023 (GLOBE NEWSWIRE) -- Adhesive Tapes Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Adhesive Tapes Market Information by Backing Material, Type, Application, and Region - Forecast till 2030”, Adhesive Tapes Market could thrive at a rate of 5.4% between 2022 and 2030. The market size will be reaching around USD 79.9 Billion by the end of the year 2030
Market Synopsis
Adhesive tapes are versatile and multi-purpose tapes that have a sticky surface coated with an adhesive material, which allows them to bond to various surfaces. Adhesive tapes can be made of various materials, including paper, plastic, and fabric. They are widely used in packaging, automotive, construction, electronics, and medical industries, among others.
The adhesive tapes market is driven by various factors, including the growing demand from end-use industries, such as packaging and construction, and the rising need for lightweight and cost-effective bonding solutions. However, the market is also facing several challenges, such as the availability of alternative bonding solutions and environmental concerns regarding the disposal of adhesive tapes.
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Market Competitive Landscape:
The affluent companies in the Adhesive Tapes industry include
- 3M Company
- Rogers Corporation
- Tesa SE
- Scapa Group PLC
- Nitto Denko Corporation
- Lintec Corporation
- Berry Inc.
- Intertape Polymer Group
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2030 | USD 79.9 billion |
| Compound Annual Growth Rate (CAGR) | 5.4% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing need for the housing and lodging sector with the rapid industrialization |
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August 2022
Lintec Corporation developed a range of adhesive tapes essential for the semiconductor manufacturing process, including wafer surface protective tape, wafer backside affixing and chip mounting tape, and backside coating tape for flip chip packaging.
March 2022
Intertape Polymer Group Inc. announced that it had entered into a definitive agreement to be acquired by an affiliate of Clearlake Capital Group, L.P. The acquisition will be an all-cash transaction valued at approximately US$2.6 billion, including net debt, with Clearlake paying CDN$ 40.50 per share.
Market USP Covered:
Market Drivers:
One driver for the adhesive tapes market is the increasing demand for convenience and ease of use in packaging solutions. Adhesive tapes provide a quick and easy way to seal packages and are preferred by consumers and businesses for their efficiency and reliability. Additionally, the growth of e-commerce and online shopping has increased the demand for packaging materials, including adhesive tapes, as more products are shipped directly to consumers.
Market Restraints:
One restraint for the adhesive tapes market is the increasing cost of raw materials, such as petroleum-based chemicals, used in the manufacturing process. This can result in increased production costs for manufacturers and higher prices for consumers, which can lead to a decrease in demand for adhesive tapes. Additionally, environmental concerns over the disposal of adhesive tapes and their impact on the environment can also act as a restraint for the market. As consumers become more environmentally conscious, they may seek alternative packaging solutions that are more sustainable and eco-friendly.
COVID 19 Analysis
The adhesive tapes market witnessed a mixed impact of the COVID-19 pandemic. While there was a surge in demand for medical tapes and packaging tapes due to the rise in healthcare and e-commerce sectors' activities, there was a decline in demand for industrial tapes due to the slowdown in manufacturing and construction activities.
During the early stages of the pandemic, global supply chain disruptions affected the adhesive tapes market, leading to a shortage of raw materials and manufacturing components. This caused a surge in the prices of adhesive tapes. However, as the world adjusted to the pandemic's "new normal," the adhesive tapes market stabilized, and the prices returned to normal. Moreover, the lockdowns imposed by several governments to contain the spread of the virus also led to a shift towards e-commerce platforms, leading to a surge in demand for packaging tapes. Similarly, the demand for medical tapes also increased due to the rise in healthcare sector activities, including COVID-19 testing and vaccinations.
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Market Segmentation
By Backing Material
The backing material in the market includes Polypropylene (PP), Paper, Polyvinyl Chloride (PVC), and Others.
By Type
By type, the segment includes Single-Sided, Double-Sided
By Resin
By resin, the segment includes Acrylic, Epoxy, Rubber-Based, Silicone, and Others
By Application
By application, the segment includes Automotive, Healthcare, Packaging, Electrical & Electronics, Building & Construction, Retail, and Others
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Regional Insights
North America is expected to dominate the adhesive tapes market owing to the growing demand from various end-use industries such as automotive, packaging, and electronics. The presence of major manufacturers in the region is also contributing to the growth of the market. Additionally, Europe is anticipated to hold a significant share of the adhesive tapes market due to the rising demand for eco-friendly and sustainable packaging solutions in the region. Additionally, the growth of the automotive industry in the region is also fueling the demand for adhesive tapes. Further, the Asia Pacific region is projected to register significant growth in the adhesive tapes market due to the increasing demand for adhesive tapes from various end-use industries such as packaging, construction, and electronics. Rapid industrialization in emerging economies like China and India is also expected to drive the growth of the market in the region.
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