New York, United States, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The Global Adhesive Tapes Market Size To Grow from USD 59.4 Billion in 2022 to USD 95.6 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period.
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Adhesive tapes are a type of tape that adhere to surfaces when pressure is applied and have a one-sided adhesive coating. They usually carry out numerous tasks, including bundling, packaging, sealing, and repairs. Adhesive tapes are frequently used to package and seal boxes, cartons, and shipments. They provide a secure closure and help keep the contents safe while being moved and stored. Adhesive tapes are used in the automotive industry for a wide range of applications, such as holding down trim pieces, securing emblems, mending minor damage, and minimising vibration.
COVID 19 Impact
Global trade restrictions and lockdown measures had an impact on supply chains, which in turn hindered the availability of the components and raw materials required to manufacture adhesive tapes. As a result, manufacturers faced production delays and increased costs. Due to the outbreak, demand for adhesive tapes fluctuated across industries. Some industries, including as healthcare, e-commerce, and packaging, reported an increase in demand for adhesive tapes as a result of operational challenges and decreased activity. In contrast, demand decreased in other sectors, such as manufacturing, construction, and the auto industry. The epidemic demonstrated how important it is to preserve strict standards for product dependability and quality. The pandemic demonstrated how important it is to preserve strict standards for product dependability and quality. Manufacturers in the adhesive tapes industry focused on enhancing the performance characteristics of their goods, such as improved adhesion strength, durability, and resistance to harsh environments, to answer the changing needs of various end-user industries. The purchasing power of both consumers and businesses was impacted by the worldwide economic slowdown brought on by the epidemic. The market for adhesive tapes was impacted as a result of consumers becoming more thrifty with their spending and delaying or reducing purchases.
Adhesive tapes are widely used in many different industries, including packaging, automotive, construction, healthcare, electrical, and electronics. As these industries expand, so does the demand for adhesive tapes. According to the adhesive tapes industry, ongoing advancements in tape technology have improved performance characteristics like stronger adhesion, better temperature resistance, increased durability, and greater adaptability. The range of applications for adhesive tapes has expanded as a result of these innovations, stimulating market growth. Adhesive tapes have advantages over more traditional bonding methods including screws, rivets, and liquid adhesives. They provide flexible, lightweight bonding choices that improve product performance while enabling more imaginative design possibilities and reduced material usage.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Adhesive Tapes Market Size, Share, and COVID-19 Impact, By Coating Technology (Solvent Based, Water Based), By Resin Type (Silicone, Acrylic), By Tape Backing Material (Paper Backed, Polypropylene Backed), By Category (Commodity, Specialty), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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Coating Technology Insights
Water based technology segment is dominating the market over the forecast period
On the basis of coating technology, the global adhesive tapes market is segmented into Solvent-Based, Water-Based, and Hot Melt Based. Among these, water based technology segment is dominating the market with the largest market share over the forecast period. The demand for water-based adhesive tapes is driven by changing consumer preferences and market trends. Water-based adhesive tapes go well with the increasingly popular trend for products that are non-toxic and favourable to the environment. Water-based adhesive tapes are becoming more necessary due to changes in e-commerce and online shopping, as well as the packaging and transportation industries. The market for water-based adhesive tapes has also continuously seen product development and variety. Water-based tapes are now being produced by manufacturers with a wide range of attributes and properties, such as resistance to moisture, high temperatures, or other traits suitable for specialised applications. The market is growing as a result of the increased product options.
Resin Type Insights
Acrylic segment holds the highest market share over the forecast period
Based on the resin type, the global adhesive tapes market is segmented into Silicone, Acrylic, Rubber, and others. Among these, the acrylic segment holds the highest market share over the forecast period. Acrylic tapes may adhere to a variety of substrates, including plastics, metals, glass, and wood, and they have excellent bonding properties. Because of their adaptability, they can be used in a wide range of applications in a variety of sectors, including the automobile, construction, packaging, electronics, and healthcare. Acrylic tapes are frequently simple to use and manage. They may be cut to size, adapt to a variety of surfaces, and provide good initial tack for quick bonding. They are easy to use and effective for various assembly and bonding procedures thanks to their features.
Tape Backing Material Insights
Paper backed material segment dominates the market over the forecast period
On the basis of tape backing material, the global adhesive tapes market is segmented into Paper Backed, Polypropylene, Polyvinyl Chloride Backed, and Others. Among these, paper backed material segment dominates the market over the forecast period. Adhesive is applied on one side of a paper backing material to create paper-backed adhesive tapes. Paper-backed adhesive tapes are easily customised to meet particular needs. To meet the requirements of various applications, manufacturers might alter the tape's thickness, size, and adhesive composition. The ability to customise products so easily leads to the rise in demand for paper-backed tapes. Overall, the adhesive tapes market's paper-backed material segment is driven by factors including affordability, adaptability, sustainability, customization options, and ease of use. The market for paper-backed adhesive tapes is expected to continue growing as long as there is a demand for trustworthy and affordable adhesive tapes.
Category Insights
Commodity Adhesive tapes segment holds the largest market share
Based on the category, the global adhesive tapes market is segmented into Commodity and Specialty. Among these, commodity adhesive tapes segment is dominating the market with the largest market share over the forecast period. The demand for industrial and commercial maintenance, the need for fastening alternatives, accessibility, affordability, adaptability, a wide range of applications, accessibility, stability, and reliability are a few factors driving the growth of commodity adhesive tapes. As long as there is demand for practical and economical adhesive solutions across industries, the commodity adhesive tapes segment in the adhesive tapes market is expected to keep expanding.
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Asia Pacific region accounted the largest market share over the forecast period
Among all other regions, Asia Pacific region accounted the largest market share over the forecast period. The Asia-Pacific area is home to industries with rapid growth, including those in the automotive, building, packaging, electronics, and healthcare. These industries make heavy use of adhesive tapes for functions like surface protection, packing, insulating, and glueing. The continued development of these sectors has increased the demand for adhesive tapes in the area. In Asia Pacific, the adhesive tapes sector constantly experiences technical advancements and innovation. Producers are investing in R&D to develop novel adhesive tape solutions with improved performance characteristics, such as higher stickiness, temperature resistance, and durability, in order to match the shifting market demands.
North America is witnessing the fastest market growth over the forecast period. A booming e-commerce sector exists in North America and has seen rapid expansion in recent years. For safe packing, shipping, and fulfilment in the e-commerce industry, adhesive tapes are essential. The region's need for adhesive tapes has been boosted by the growth of internet commerce and the volume of online sales.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. 3M, Lohmann GmbH & Co. Kg, Nitto Denko, Scapa Group PLC, Tesa SE, Shurtape Technologies LLC, Avery Dennison Corporation, and Lintec Corporation and others.
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Recent Market Developments
- In October 2019, to address packaging issues, the 3M Company introduced the high-tech sealing tape Scotch High Tack Box Sealing Tape 375+. It guarantees good performance for e-commerce and other shipping while resolving the issues caused by inadequate box sealing tape.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Adhesive Tapes Market based on the below-mentioned segments:
Adhesive Tapes Market, Coating Technology Analysis
- Solvent-Based
- Water-Based
- Hot Melt Based
Adhesive Tapes Market, Resin Types Analysis
- Silicone
- Acrylic
- Rubber
- Others
Adhesive Tapes Market, Tape Backing Material Analysis
- Paper Backed
- Polypropylene
- Polyvinyl Chloride Backed
- Others
Adhesive Tapes Market, Category Analysis
- Commodity
- Specialty
Adhesive Tapes Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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