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The adhesive tapes market is estimated to grow at a CAGR of 5.78% between 2022 and 2027. The size of the market is forecast to increase by USD 20,804.46 million. The growth of the market depends on several factors, including increasing demand from end-user industries, increased construction activities across geographies, and technological advances and new product development.
This report extensively covers market segmentation by material (polypropylene, paper, polyvinyl chloride, and others), end-user (automotive, healthcare, packaging, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global adhesive taps market as a part of the global office services and supplies market within the global commercial services and supplies market. The global office services and supplies market covers providers of office services and manufacturers of office supplies and equipment. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increased construction activities across geographies are notably driving the market growth, although factors such as adhesive tapes cannot be used for critical functions and may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Adhesive Tapes Market Driver
The increased construction activities across geographies are notably driving market growth. Owing to an increasing population, growing economies in emerging countries, increasing government investments in large-scale infrastructure projects, and the rising number of public-private partnerships for infrastructure development the construction sector is growing. These factors subsequently propel the demand for adhesive tapes. These tapes are used for sealing, bonding, and filling gaps in internal glazing and partition systems. They help in the permanent bonding of metal frames to glass in interior and exterior curtain wall systems.
The growing global urban population is one of the major factors contributing to the growth of the construction industry. It is encouraging investors to construct more residential buildings, especially in regions such as North America and Europe, where the wages are higher compared with that of other regions. Therefore, the construction of more residential buildings will require adhesive tapes and will boost the market growth during the forecast period.
Significant Adhesive Tapes Market Trend
Increased use of silicone adhesives in adhesive tapes is an emerging trend in the market. Silicone-based adhesive tapes have been gaining significant traction in the market due to a range of properties. A few of them are high flexibility (low modulus) at sub-ambient temperatures, consistent performance over a wide temperature range, remarkable resistance to polar solvents, easy and speedy processing, and excellent performance.
Silicone-based adhesive tapes are mainly two-sided and are widely preferred for manufacturing tapes. Silicone is mainly used to modify the rheological properties of adhesive tapes. It is chemically passive, non-sticky, non-flammable, non-toxic, and optically clear. The rheological properties of silicone protect the adhesive and restrict the interaction between the paper or film and the adhesive. Therefore, the increasing adoption of silicone-based adhesives is expected to support the growth of the market in focus during the forecast period.
Major Adhesive Tapes Market Challenge
Adhesive tapes cannot be used for critical functions is a major challenge impeding market growth. Although there are several critical applications of adhesive tapes, there is a lack of highly durable adhesive tapes for such applications. For instance, in the packaging industry, adhesive tapes cannot be used for packaging heavy food materials as they may get deformed under the load and pressure of the product and lead to spillage. The packaging used for food must ensure high bonding to the boxes, which most adhesive tapes are not capable of providing. The low durability of adhesive tapes limits their use for heavy food packaging. This may restrict the growth of the market in focus.
Furthermore, skin injuries (MARSI) are caused when medical adhesive tapes cause tearing, stripping, or separation of skin layers. The removal of these tapes causes erythema, and forcible peeling leads to the removal of superficial dermal layers. This drawback limits the use of these tapes by individuals. Such factors will hinder the market growth during the forecast period.
Key Adhesive Tapes Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Adhesive Tapes Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Advance Tapes International Ltd. - The company operates under one segment. The company under this segment focuses on developing and manufacturing high-performance adhesives, tapes, specialty films, coatings, laminates, release liners, and transdermal and transmucosal drug delivery technologies. The key offerings of the company include adhesive tapes.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the polypropylene segment will be significant during the forecast period. It is an important thermoplastic material. It is recyclable, flexible, tough, and resistant to fatigue. These materials are used in packing or electric insulation applications such as tamper-evident tapes, strapping tapes, and carton sealing tapes.
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The polypropylene segment was valued at USD 27,707.09 million in 2017 and continued to grow until 2021. Polypropylene tapes have various applications across industries. For instance, as these film tapes exhibit dielectric and physical properties, they are suitable for electronic and electric applications. In cable wraps and capacitor coils, these films are used for phase and layer separation in rotating electrical transformers and equipment. Additionally, it also offers excellent resistance to grease, moisture, and oils. Owing to the abovementioned factors, such factors are driving the market in focus during the forecast period.
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APAC is estimated to contribute 63% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
China and India are lucrative markets for the manufacturers of consumer durables, electrical products, automotive, and paper and printing products. Inexpensive labor, low operational costs, and smooth business operations facilitate production. In addition, rising affordability for procuring end products such as consumer durables and automotive, led by rising disposable income, and evolving population lifestyle, is also driving the growth of the market in focus in the region. Additionally, the growing construction industry in APAC is a major consumer of adhesive tapes. Increasing investments in commercial and residential infrastructure projects, coupled with the surging urban population in developing countries, including Japan, China, India, and others, are driving the demand for adhesives.
Furthermore, APAC dominates automotive production globally owing to the presence of countries such as China, Japan, India, Indonesia, and South Korea, which are among the largest automotive producers across the world. Adhesive tapes are used in automotive for assembling internal and external mirrors, fixing outer panels onto framework by eliminating vibration and noise by filling and fixing the space between frames and panels, and sealing and cushioning license plates by absorbing the vibrations for the rear and front license plate mounting and surface protection. Therefore, these factors will boost the regional market during the forecast period.
COVID-19 negatively impacted the growth of the adhesive tapes market in APAC in 2020. However, as a result of large-scale vaccination drives across the region in 2021, lockdown restrictions were lifted, allowing the restoration of commercial and developmental activities in end-user industries across APAC. It helped the end-user industries to resume operations in the manufacturing units, fueling the demand for adhesive tapes in this region. As a result, the growth of the market in focus is anticipated to propel APAC during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Material (Polypropylene, Paper, Polyvinyl chloride, and Others), End-user (Automotive, Healthcare, Packaging, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
Adhesive Tapes Market Scope |
|
Report Coverage |
Details |
Page number |
182 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.78% |
Market growth 2023-2027 |
USD 20,804.46 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.57 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 63% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Adhesives Research Inc., Advance Tapes International Ltd., American Biltrite Inc., Berry Global Group Inc., Can Do National Tape, Coating and Converting Technologies Inc., Compagnie de Saint Gobain SA, Dow Inc., GERGONNE INDUSTRIE, H.B. Fuller Co., Intertape Polymer Group Inc., LINTEC Corp., Lohmann GmbH and Co.KG, Mativ Holdings Inc., Nitto Denko Corp., Shurtape Technologies LLC, Avery Dennison Corp., Beiersdorf AG, and Henkel AG and Co. KGaA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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