Newark, NJ, Feb. 03, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global double sided tape market is expected to grow from USD 9.17 Billion in 2017 to USD 14.01 Billion by 2025 at a CAGR of 4.69% during the forecast period 2018-2025. Growing usage of double-sided tapes in various applications, tremendous demand for the Asia Pacific region for double-sided tapes and immense interest for acrylic & PE foam based double-sided tapes worldwide are the factors that are driving double-sided tape market.
Double-sided tapes are made by applying a thin glue layer to each side of a material. These tapes are pressure-sensitive tapes covered with glue on both sides. These tapes are commonly used in industries such as construction & building, automotive and electrical and gadgets for holding, grafting, mounting, splicing, and different purposes. For instance, Essentra launched new double-sided tapes Essentra Specialty Tapes. These tapes were designed to improve tape adhesion for UV coated material.
Growing usage of double-sided tapes in various applications, tremendous demand for the Asia Pacific region for double-sided tapes, and immense interest for acrylic and PE foam based double-sided tapes worldwide are the key driving factors for the double-sided tape market. The high price of double-sided tape raw materials and end products and double-sided tapes backed on paper/tissue are prone to moisture may limit the growth of the market. However, development in double-sided tape technology and rising demand for acrylic foam backed tapes in the automotive application is expected to boost the double-sided tape market over the forecast period.
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Key players operating in the global double sided tape market include Shurtape Technologies, LLC, Lintec Corporation, Avery Dennison Corporation, Lohmann GmbH & Co. Kg, Nitto Denko Corporation, Nichiban Co. Ltd., 3M Company, Intertape Polymer Group, Inc., TESA SE, Scapa Group Plc, Toyochem Co. Ltd, Mactac, LLC, Industrias Tuk, S.A. De C.V., Saint-Gobain Performance Plastics, Tape-Rite Co. Inc., Ajit Industries, Atp Adhesive Systems AG, Toyochem Co. Ltd, Guangzhou Broadya Adhesive Products Co., and among others. The 3M, Nitto Denko, Tesa, Lintec, and Avery Dennison Corporation are the top leading players of the market.
- To effectively compete in the market space, companies are launching newer, improved, innovative products. For instance, Lohmann launched DuploMED Soft-Stick Series with double-sided tapes for wound care applications.
- To grow foothold in market and better cater to the rising demand companies are taking merger and acquisition route. For instance, in February 2017 Shurtape Technologies, LLC, an industry-leading producer of pressure-sensitive tapes, announces the acquisition of Syntac Coated Products, LLC, a designer and manufacturer of specialty adhesive coated products. This will help the organization in expanding its tape business.
Silicone segment dominated the market with the market size of USD 3.64 billion in 2017
Resin type segment covers acrylic, silicone, rubber, and other resins. Silicone segment dominated the market with the market size of USD 3.64 billion in 2017. Silicone-based double sided tape maintain adhesion over a large temperature range and possess the ability to adhere to difficult surfaces. The adhesive strength of silicone based tapes is lower than that of other adhesive tapes.
Paper segment held the largest share of 38.92% in 2017
Backing material segment includes foam, film, and paper. The paper segment held the largest share of 38.92% in 2017. Paper is an environment-friendly and recyclable material. The properties of paper are enhanced through saturation, which is a process wherein paper is treated with latex to improve its chemical and physical properties so that it can be used as a backing substrate in adhesive tape.
Hot-melt segment is expected to hold the highest market share of 38.17% during the forecast period
Technology segment is divided into solvent-based, water-based, and hot-melt-based. The hot-melt segment is expected to hold highest market share of 38.17% during the forecast period. Hot-melt offers advantages such as adhesion, quick set, ease of use, and fast processing. It provides high strength and immediate bond that is needed in various applications including automotive, building & construction, paper & printing, and electrical & electronics
Paper & printing segment is expected to hold the largest share of 38.29% during the forecast period
End User segment further covers automotive, building & construction, electrical & electronics, paper & printing, and others. The Paper & printing segment is expected to hold the largest share of 38.29% during the forecast period as double sided tapes are extensively used during the production of paper. The demand for double sided tapes in the paper & printing industry is majorly coming from retail and digital printing industries.
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Regional Segment Analysis of the Double Sided Tape Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region dominated the global double sided tape market with USD 3.77 billion in 2017 where as the North America region held the second dominant position in the market. Increasing demand from developing countries including India, Korea, Vitenam and demand from paper and printing industry has increased the growth of double sided tape market in Asia Pacific region. North America region is second dominating region in the global double sided tape market due to the increasing adoption of double sided tape and growing necessity for PE foam backed double sided tape.
About the report:
The global double sided tape market is analysed on the basis of value (USD Billion), volume (K Units), consumption (K Units), imports (K Units) and exports (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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