Adhesive Tapes Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Adhesive Tapes Market Research Report, Backing Material, Type, Resin , Application and Region - Forecast till 2027”. Global Market for Adhesive Tapes in terms of value is estimated to register a 5.4% CAGR during the forecast period (2020 – 2027).
The adhesive tapes market outlook appears extremely positive, heading with the spurring rise in packaging and healthcare industries worldwide. Besides, the market increase attributes to the rising demand and consumption of adhesive tapes across the industries drive the market growth. Advances in adhesion technologies and increasing demand for effective adhesion techniques boost the adhesive tapes market size.
Manufacturers are increasing the production of adhesive tapes that are lightweight and have lesser carbon footprints. This focus on innovation in terms of sustainability also offers major growth opportunities for the market players. Moreover, the augmenting demand for sustainable and environment-friendly adhesive tapes meeting the environmental regulations and consumer preference propels market growth.
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Key companies profiled in the adhesive tapes market research report 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) among others.
With increasing investments and research development activities, the market is projected to garner substantial traction. Industry-leading manufacturers strive to develop unique products with extreme tensile technology.
Additionally, the rising demand for aggressive, double-thick adhesive tapes with durable waterproof backings that can quickly secure, fasten, and hold all types of materials for any project influences market growth. Industry players strive to offer their customers an extended range of value-added and sustainable solutions in hot-melt pressure-sensitive adhesives.
Over the last few years, the emergence of innovative and sustainable designs has grown exponentially, driving the market demand. Furthermore, the expansion of cosmetics, personal hygiene, and the pharmaceutical industry provide substantial impetus to the market growth. Growing construction and infrastructure development projects contribute to the market growth hugely.
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COVID-19 Impact:
The adhesive tapes market landscape largely depends on the retail, packaging, and automotive industry. Covid-19 significantly disrupted most of the industries, causing huge revenue losses. The pandemic changed consumer buying patterns shifting them from in-store to online/virtual purchases. Manufacturers did suffer issues related to disrupted supply chains and shortages of key raw materials required. Also, getting the workers during the lockdown was a big issue that industry leaders did face.
Moreover, the spread of the virus restricted cross-border trade between countries, determining the market demand. However, the pandemic boosted the healthcare industry and investments in medical devices and personal care packaging. The demand for personal hygiene supplies and healthcare products to address SARS-CoV-2 would keep rising steadily beyond 2021. Also, it is expected that the adhesive tapes demand could pick up following the uplift of the lockdown in many countries.
Segments
The report is segmented into types, backing materials, resins, applications, and regions. The backing material segment is sub-segmented into polypropylene (PP), paper, polyvinyl chloride (PVC), and others. In terms of value, the paper segment accounts for the largest backing material segment. The type segment is sub-segmented into single-sided and double-sided. Of these, the single-sided segment accounts for the largest adhesive tapes market value.
The resin segment is sub-segmented into acrylic, epoxy, rubber-based, silicone, and others. Of these, the acrylic segment accounts for the largest adhesive tapes market revenues due to its extensive properties and wide applicability in the end-use industries.
The application segment is sub-segmented into automotive, healthcare, packaging, electrical electronics, building construction, retail, and others. Among these, packaging accounts for the largest application segment heading with the wide uses of adhesive tapes in the packaging sector. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and rest-of-the-world.
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Regional Analysis
North America leads the global adhesive tapes market, heading with the rapidly growing e-commerce industry. Besides, the largest market share attributes to increased investments in the organized retail sector and the increasing consumption of packaging tapes in shipment courier companies in the region.
The growing automotive sectors and the growing packaging market foster the market demand in the region. Moreover, growing construction and infrastructure development projects substantiate the adhesive tapes market size in the region. Well-established markets in Canada and Mexico majorly contribute to the region’s adhesive tapes market share.
Europe stands second in terms of the global adhesive tapes market revenue. Factors such as the burgeoning packaging sector and the rising demand for packaged food drive the adhesive tapes market growth. Additionally, the spurring growth in the food beverage and consumer goods sectors in the region boosts the adhesive tapes market size.
Burgeoning end-use industries, such as construction, automotive, food beverages, and consumer healthcare, influence the regional market growth. Furthermore, rapid industrialization urbanization and the rise in productivity, RD investments, and disposable income are major adhesive tapes market trends.
Asia Pacific is another lucrative market for adhesive tapes globally. The market growth is driven by the growing awareness among consumers and growth in the healthcare sector. Also, increased investment in infrastructure construction sectors, rapid population growth, and urbanization create huge demand for adhesive tapes in the construction sector.
Continual consumption of adhesive tapes in the burgeoning packaging industry in the region substantiates the market growth. India, China, and Japan account for considerable adhesive tapes market shares due to their growing food beverages and consumer goods industries.
Competitive Analysis
The market is highly competitive and fragmented. Many big and small market players form a competitive landscape, adopting strategic expansion of businesses in emerging markets. To maintain market position and create new markets, industry players rely on strategic approaches and innovation. They invest substantially and keep themselves updated with new technological developments and the latest consumer trends by developing human capital.
For instance, on May 21, 2021, Arkema S A (France), a specialty chemicals and advanced materials company announced the expansion of its Bostik adhesive solutions segment in the US high-performance adhesives offerings with the planned acquisition of Edge Adhesives Texas, a leading developer and manufacturer of innovative adhesive solutions. The acquisition aligns with Bostik’s growth strategy in high value-added adhesives and expands its presence in North America.
Segmentation of Market covered in the research:
Information By Backing Material (Polypropylene (PP), Paper, Polyvinyl Chloride (PVC) and Others), Type (Single-Sided and Double-Sided), Resin (Acrylic, Epoxy, Rubber-Based, Silicone and Others), Application (Automotive, Healthcare, Packaging, Electrical Electronics, Building Construction, Retail and Others) and Region
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