ID: MRFR/PNT/1186-CR | March 2021 | Region: Global | 123 pages
Global Market for Adhesive Tapes in terms of value is estimated to register a 5.2% CAGR during the forecast period.
Adhesive tapes refer to several combinations of backing materials coated with adhesive films that are used to bond objects together instead of mechanical fasteners, screws, or welding. Adhesive tapes find widespread applications in numerous end-use industries that include the automotive, electronics & electrical, medical, construction, paper, and printing industries. The increasing product demand from these industries and their healthy growth is boosting the growth of the global market during the forecast period. Furthermore, socio-economic developments such as an increase in middle-class population and rising per capita disposable income, especially in developing countries such as China and India, are driving the growth of the global market.
The global adhesive tapes market is expected to grow significantly during the forecast period due to the growth of the automotive industry, particularly in Asia-Pacific and Europe. However, fluctuating raw material prices are likely to hinder the growth of the global market during the review period. Nevertheless, the projected rise in demand for adhesive tapes in medical and packaging applications and increased investments in renewable adhesive tapes are likely to create a lucrative opportunity for the global adhesive tapes market in the coming future.
Growth in the product demand from the automotive industry and increased healthcare spending will spur market growth. The global adhesive tapes market has been segmented based on backing material, type, resin, application, and region.
Based on backing material, the global adhesive tapes market has been segmented into polypropylene (PP), paper, polyvinyl chloride (PVC), and others. In terms of value, the paper segment dominated the global market with a 43.1% share in 2019 and is likely to register a 4.6% CAGR during the review period.
Based on type, the global adhesive tapes market has been classified into single-sided and double-sided. The single-sided segment dominated the global adhesive tapes market with a market share of 62.7% by value in 2019, owing to its widespread demand in bonding automotive components and the healthcare sector.
Based on resin, the adhesive tapes market has been divided into acrylic, epoxy, rubber-based, silicone, and others. The acrylic segment accounted for the largest share of 36.9% in 2019 due to the extensive properties offered by acrylic resins and wide applicability in the end-use industries.
Based on application, the global market has been divided into automotive, healthcare, packaging, electrical & electronics, building & construction, retail, and others. The packaging segment accounted for the largest share of 26.4% in 2019, owing to the increased demand from the e-commerce sector.
By region, the adhesive tapes market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Global Adhesive Tapes Market, By Region, 2019
Source: MRFR Analysis
Asia-Pacific is one of the prominent regions in the adhesive tapes market due to the increasing export from countries in the region. Asia-Pacific includes China, India, Australia, New Zealand, and Japan, which are the leading exporters of various types of commercial goods across the world. The growing retail industry in these countries is further supporting the growth of the market in this region as it is a flourishing market for manufacturers offering technologically advanced packaging solutions for the retail and food and beverage industries. The FDI in retail has further widened the scope of packaging, which attracts foreign players to set-up base in the region.
The growth of the adhesive tape market in the region is backed by the increasing demand for packaged food and beverage items in countries, such as China and India, due to the increasing per capita disposable income. Additionally, the advancement in technology and increasing manufacturing units associated with various industries, such as electronics, automotive, energy, food & beverages, and construction, are increasing the demand for adhesive tapes due to their capability to withstand different temperature conditions, high tensile strength, and elimination of the need for fasteners, screws, or welding on a system.
Global Adhesive Tapes Market has been segmented based on Backing Material, Type, Resin, Application, and Region. Growth in demand from the automotive industry and increased healthcare spending will spur market growth.
Global Adhesive Tapes Market is highly fragmented with the presence of a high number of market players. The adhesive tapes market has significant scope for improvement in the coming years. The manufacturers/service providers are operating at the regional level. The players are adopting strategies such as mergers & acquisitions, product developments, partnerships, joint ventures, and expansions to improve their positions in the market, both regionally and globally. High competition, rapid technological changes, and integrated solutions by industry participants are the key factors that affect market growth. The growth of market vendors depends on market conditions, government support, and industry development. Thus, they should focus on improving their products, expanding their regional presence, and offering various adhesive tapes to suit the requirements of the projects. 3M, Avery Dennison Corporation, H.B. Fuller Company, Henkel AG & Co. KGaA, Nitto Denko Corporation, Tesa SE, PPM Industries, and other players are some of the leading players, holding an 18.3% market share.
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
Major materials used in the adhesive tape market include polypropylene, paper, and polyvinyl chloride.
Global adhesive tapes market is expected to exhibit a strong 5.2% CAGR over the forecast period till 2022.
The growing healthcare and packaging industries are the major driver for the adhesive tapes market.
Asia Pacific is expected to exhibit the highest growth over the forecast period.
Leading players in the adhesive tapes market include 3M, Avery Dennison, and Tesa SE, among others.