CAGR: 5.88%Current Market Size: USD 63.87 billion Fastest Growing Region: North America
Largest Market: APACProjection Time: 2022-2029Base Year: 2021
The global adhesive tapes market is expected to grow from USD 63.87 billion in 2021 to USD 100.88 billion by 2029, at a CAGR of 5.88% during the Projection period 2022-2029. This growth of the adhesive tapes market is significantly driven by its rising use of it in the manufacturing of different end-user industries including masking, packaging, and electronics. Adhesive tapes can be used in multiple applications and are thus employed in different verticals. Rapid industrialization, as well as urbanization, is one of the key reasons for the growth of the adhesive tapes market.
Adhesive tapes are used for bonding and joining the objects together in place of using screws, fasteners, and welding. Adhesive tapes are also used for protection of the surface area as there is no need of damaging the surface by using such fasteners and screws. The adhesive tapes are used for automated production as most of the substitutes are more complicated. These tapes are usually manufactured using a carrier and backing. There are different properties of adhesive tapes including pressure sensitiveness and thermal activation. Adhesive tapes are effective in packaging different products as it makes transportation easier.
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Market Dynamics:
Drivers:
The manufacturers present in end-user industries, especially, in packaging, electronics, automotive and construction industries have an immense requirement for materials that are used for the packaging of materials. There are several applications of adhesive tapes including glazing, insulation, HVAC, and abatement. Building and construction industry requires the use of such adhesive tapes in place of fasteners and screws. Manufacturers are opting for adhesive tapes in order to be used in industrial applications.
The use of adhesive tapes is increasing in the packaging of different end-use products. The double-coated adhesive tapes are replacing adhesion techniques and conventional sealing. Adhesive tapes ensure good adhesion and last longer which is a useful trait for most packaging. Double tapes have high shear strength which makes them suitable to be used in different end-user industries. These adhesives can be used on the side of the packaging.
Restraints:
The adhesive tapes market's expansion is being hampered by the variable cost of raw materials necessary for product development. The total costs are influenced by the raw material prices connected with the development of adhesive tapes. The upstream price of raw materials has an impact on the production's final price. As a result, the shifting cost of raw materials has an impact on the market expansion of adhesive tapes companies.
Opportunities:
The expansion of the construction industry is providing lucrative opportunities to the market. There are different mechanical fasteners that were initially used and are still in use in the construction industry. There are different types of adhesive tapes used including single coated and double coated in the construction industry. Initially, fasteners were more popular, however, they had their own share of demerits including damage to the floor or wall surface. Screws, bolts, and rivets have been replaced with adhesive tapes. The demand for lightweight materials has propelled the demand for such tapes.
Challenges
The adhesive tapes require extensive research and development processes in order to be launched in the market. The technology used for manufacturing adhesive tapes is rigorous and requires the use of high-end equipment. Further, the process is also lengthy and thus this leads to delay in the commercialization of the product.
Segmentation Analysis:
The global adhesive tapes market has been segmented based on category, technology, resin type, packaging material, end-use, and regions.
By Category
The category segment includes single-sided and double-sided. The single-sided adhesive tapes segment led the adhesive tapes market with a market share of around 57.10% in 2021. Single-sided adhesive tapes are multi-use and thus can be used within multiple end-user industries. Single-sided adhesive tapes are most frequently available and are widely used in day-to-day activities. There are several benefits of single-sided adhesive tapes including the backing of materials.
By Technology
The technology segment includes water-based, solvent-based, and hot-melt-based. The water-based segment led the adhesive tapes market with a market share of around 34.19% in 2021. Water-based adhesive tapes are considered to be the most efficient in industries such as building and construction, automotive, etc. The water-based adhesive tapes provide efficient adhesion in different substrates. The use of water-based adhesive tapes has gained popularity in various packaging applications.
By Resin Type
The resin type segment includes silicone, rubber, acrylic, and others. The acrylic segment led the adhesive tapes market with a market share of around 31.11% in 2021. Acrylic is one of the most widely used adhesive tapes. The favorable properties including stiffness, strength, optical clarity, etc. make it easy to fabricate and bond with the solvents easily.
By Packaging Material
The packaging material segment includes polyvinyl chloride, polypropylene, paper, and others. The paper segment led the adhesive tapes market with a market share of around 41.92% in 2021. Adhesive tapes are majorly used by the end-users of the paper industry. Paper-based adhesive tapes are sustainable and are available in various colors. The holding power of paper tapes is higher and has favorable resistant properties against temperature.
By End-Use
The end-user segment includes packaging, automotive, pharmaceuticals, healthcare, electronics and electrical, building and construction, and others. The packaging segment led the adhesive tapes market with a market share of around 39.94% in 2021. The packaging industry is keen to use single-sided and double-sided adhesive tapes. Packaging should be efficient in order to contain the materials inside it properly. Double-sided adhesive tapes are a popular choice by the packaging service providers.
Global Adhesive Tapes- By Regional Analysis:
The regions analyzed for the adhesive tapes market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. Asia-Pacific region dominated the adhesive tapes market and held the 31.11% share of the market revenue in 2021.
Global Adhesive Tapes Market- Country Analysis:
China is the largest adhesive tapes market across the globe with an estimated market share of 36.31% across the Asia region by 2022. There are many manufacturers in the country and also there are high numbers of adhesive tape raw material suppliers. Automotive industries are focusing on electric vehicles and commercial vehicle manufacturing. Also, the healthcare industry of China is spending heavily on such tapes for usage in medical applications.
In the North American region, the USA is the largest market shareholder in the adhesive tapes market with an estimated market share of around 41.11% by the end of 2022. The extensive applications of the additives in industrial manufacturing are anticipated to drive the market growth of adhesive tapes in the USA.
Key Industry Players Analysis:
To increase their market position in the global adhesive tapes business, top companies are focusing on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, and partnerships, joint ventures, etc.
Latest Development:
Report Attribute
Report Metric |
Information |
Study Period |
2018-2029 |
Base Year |
2021 |
Projection Period |
2022-2029 |
Market Share Unit |
USD Billion |
Segments Covered |
Category, Technology, Resin Type, Packaging Material and End-Use |
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
Major Players |
Tesa SE, 3M Company, Lintec Corporation, Nichiban Co. Ltd., CMS Group of Companies, Avery, Nitto Denko Corporation, Intertape Polymer Group, Lohmann GmbH, Berry Global Inc., Scapa Group PLC, Surface Shields and Rogers Corporation |
Scope of the Report
Global Adhesive Tapes Market by Category:
Global Adhesive Tapes Market by Technology:
Global Adhesive Tapes Market by Resin Type:
Global Adhesive Tapes Market by Packaging Type:
Global Adhesive Tapes Market by End-use:
Global Adhesive Tapes Market by Region:
Global Adhesive Tapes Market Was valued USD 63.87 Billion in 2021
The end-user segment includes packaging, automotive, pharmaceuticals, healthcare, electronics and electrical, building and construction, and others. The packaging segment led the adhesive tapes market with a market share of around 39.94% in 2021. The packaging industry is keen to use single-sided and double-sided adhesive tapes. Packaging should be efficient in order to contain the materials inside it properly. Double-sided adhesive tapes are a popular choice by the packaging service providers.
The category segment includes single-sided and double-sided. The single-sided adhesive tapes segment led the adhesive tapes market with a market share of around 57.10% in 2021. Single-sided adhesive tapes are multi-use and thus can be used within multiple end-user industries. Single-sided adhesive tapes are most frequently available and are widely used in day-to-day activities. There are several benefits of single-sided adhesive tapes including the backing of materials
The expansion of the construction industry is providing lucrative opportunities to the market. There are different mechanical fasteners that were initially used and are still in use in the construction industry. There are different types of adhesive tapes used including single coated and double coated in the construction industry. Initially, fasteners were more popular, however, they had their own share of demerits including damage to the floor or wall surface. Screws, bolts, and rivets have been replaced with adhesive tapes. The demand for lightweight materials has propelled the demand for such tapes
According to various studies, the production of manufacturing and excessive use of adhesives tapes harms the environment and causes pollution. In addition, the high tapes are made from materials that don't get dissolved for a longer period of time. This may be further responsible for biodiversity loss and deforestation. Hence, the aforementioned environmental concerns triggered by the use of adhesive tapes may pose significant challenges to market growth
Asia-Pacific region dominated the adhesive tapes market and held the 31.11% share of the market revenue in 2021. Asia-Pacific region has registered the highest value for the year 2021. The increasing production of automobiles, safety equipment, and electric and electronic products has led to a rise in demand for adhesive tapes. The countries such as China, Japan, and India are the major end-users of adhesive tapes. The increasing spending on the manufacturing of passenger and commercial vehicles is providing lucrative opportunities for the market growth of adhesive tapes. Further, the presence of multiple manufacturers in the regional countries have increased the supply of product.
Political Factors- Political factors are one of the significant factors that largely affect the operations of the organization in the adhesive’s tapes market. The manufacturers should be well-versed with the regional laws and legislation, rules and regulations, import and export policies, etc. The concerned regional agencies provide guidelines to the manufacturing companies regarding the procurement of materials and specifications for the use of it.
Economical Factors- The economic factor for any business includes recession, inflation, growth in GDP, growth in population, etc. rise in raw material prices increases the cost of the final product, and to maintain profitability, the organization has to increase its prices. The organization can leverage this trend by expanding its product range and targeting new customers. The adhesive tapes market's expansion is being hampered by the variable cost of raw materials necessary for product development. The total costs are influenced by the raw material prices connected with the development of adhesive tapes. The upstream price of raw materials has an impact on the production's final price. As a result, the shifting cost of raw materials has an impact on the market expansion of adhesive tapes companies.
Social Factor- The increasing production of automobiles, safety equipment, and electric and electronic products has led to a rise in demand for adhesive tapes. The countries such as China, Japan, and India are the major end-users of adhesive tapes. The increasing spending on the manufacturing of passenger and commercial vehicles is providing lucrative opportunities for the market growth of adhesive tapes. Further, the presence of multiple manufacturers in the regional countries have increased the supply of product.
Technological Factors- The adhesive tapes require extensive research and development processes in order to be launched in the market. The technology used for manufacturing adhesive tapes is rigorous and requires the use of high-end equipment. Further, the process is also lengthy and thus this leads to delay in the commercialization of the product.
Environmental Factors- According to various studies, the production of manufacturing and excessive use of adhesives tapes harms the environment and causes pollution. In addition, the high tapes are made from materials that don't get dissolved for a longer period of time. This may be further responsible for biodiversity loss and deforestation. Hence, the aforementioned environmental concerns triggered by the use of adhesive tapes may pose significant challenges to market growth.
Legal Factors- The multiple legislations and laws prevailing in the region must be followed by manufacturers. In order to set up a business, the manufacturer must require to pass the stringent regulations by regional agencies. Thus, companies should extensively focus on the legal factors of the country. Moreover, the laws related to employment laws, import and export, and labor laws must be taken care of. A lawful and legal organization can effectively survive in the long run. For instance, Nitto Denko Corporation had expanded its office in Tokyo. The objective of this expansion is to increase the sales of adhesive tapes in the Tokyo region. Furthermore, a major company, 3M Company, launched the up-gradation of sealing tape in order to meet the packaging requirements of the industry.
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