Adhesive Tape Market to Grow with a CAGR of 4.91% through 2028
Rising demand for electronics and electrical
applications expected to drive the Global Adhesive Tape Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Adhesive Tape
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Adhesive Tape Market stood at USD 80.42 billion in 2022 and is anticipated to grow with a CAGR of 4.91% in the forecast
period, 2023-2028. The initiatives taken by government based on adhesive tape has
led to favorable market conditions for the Global Adhesive Tape Market. Several
factors contribute to the growth of various adhesive tape products.
Regulations play a crucial role in shaping the
adhesive tape market. In the United States, the U.S. Food and Drug
Administration (FDA) has established guidelines specifically for medical
adhesive tapes and bandages. These regulations are in place to ensure the
safety and effectiveness of adhesive tapes used for medical purposes, providing
reassurance to both healthcare professionals and patients.
Furthermore, the FDA has taken steps to approve the
use of certain biodegradable hemostatic glues, introducing a new dimension to
the adhesive tape market. This approval not only showcases the FDA's commitment
to innovation but also opens doors to more sustainable and environmentally
friendly options in the industry.
Government-backed research is also making significant
contributions to advancements within the adhesive tape industry. For instance,
a recent study funded by the U.S. Department of Justice has explored the use of
liquid nitrogen as a means to separate adhesive tapes. This innovative approach
demonstrates the government's support for finding new and effective solutions
within the industry.
Overall, the combination of regulations, FDA
approvals, and government-backed research is driving the adhesive tape market
forward, ensuring the safety, efficacy, and continuous improvement of adhesive
tape products.
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Tape Market”
At present, the rising demand for adhesive tapes in
electronics and electrical applications is positively influencing the growth of
the market. Besides this, the ongoing proliferation of electronic devices and
electrical equipment across various industries is driving the demand for
reliable and efficient bonding solutions. Adhesive tapes, with their
versatility and adaptability, are playing an instrumental role in securing
components, insulating circuits, and enhancing overall product performance.
As businesses continue to innovate and expand their
electronic and electrical offerings, the demand for adhesive tapes is steadily
increasing. Furthermore, the advent of emerging technologies, such as flexible
electronics and wearable devices, is creating new avenues for adhesive tape
applications. These cutting-edge innovations heavily rely on adhesive tapes for
their flexible and reliable bonding needs, enabling them to push the boundaries
of what is possible.
With the continuous advancements in technology, the
adhesive tape market is poised to grow even further to cater to the unique
requirements of these emerging industries. As more industries embrace these
technologies, the demand for adhesive tapes will continue to rise, driving the
market's expansion.
In conclusion, the increasing demand for adhesive
tapes in electronics and electrical applications, coupled with the emergence of
new technologies, is creating a favorable environment for the growth of the
adhesive tape market. As businesses and industries continue to rely on adhesive
tapes for their bonding needs, the market is expected to thrive and evolve to
meet the ever-changing demands of the modern world.
The Global Adhesive Tape Market is segmented into resin,
technology, application, regional distribution, and company
Based on its application, the packaging segment held
the largest share in the market. The increasing trend of online shopping has
significantly impacted the demand for packaging and distribution of goods,
resulting in a surge in the global demand for adhesive tapes. These versatile
tapes find extensive use across various industries including automotive,
healthcare, textiles, leather, aerospace, defense, locomotives, and more,
playing a vital role in driving the market forward.
In the automotive industry, adhesive tapes are
particularly sought after due to the emphasis on weight reduction in vehicles
to enhance fuel efficiency. Manufacturers are increasingly replacing
traditional bolts and screws with adhesive tapes to reduce the overall weight
of cars. For instance, according to the International Organization of Motor
Vehicle Manufacturers, the production of automotive vehicles in India witnessed
significant growth from 47.81 million units in 2017 to 51.21 million units in
2018.
Furthermore, adhesive tapes are widely utilized in
medical equipment assembly and wound care during surgical procedures. Moreover,
their application extends to the production of diapers for both babies and
adults, where skin-friendly adhesive tapes play a crucial role.
The market growth is further fueled by the rising
demand for water-activated adhesive formulation adhesive tapes, in line with
the increasing preference for recyclable and biodegradable packaging materials.
This combination of factors has contributed to the steady expansion of the
adhesive tape market.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
The Asia Pacific adhesive tapes market is experiencing
increased growth in various end-use industries such as healthcare, building
& construction, packaging, and others. According to the Ministry of
Economy, Trade, and Industry (METI) of Japan, the shipment value of the
packaging industry in Japan was around US$49.85 Billion in 2018, which has
further increased to US$50.66 Billion in 2019. This growth can be attributed to
the rising demand for packaging materials in the region.
Moreover, the healthcare industry has emerged as a
dominant sector in the Asia Pacific region, driven by the high demand for
medical bandages, including dry clothing and first aid kits. The increasing
awareness of advanced wound care has further fueled the need for new products
in the region. Furthermore, the Asia Pacific region is experiencing significant
economic growth, leading to substantial investments in industries such as
automotive, healthcare, electrical and electronics, and building & construction.
Major players in the region, such as Nitto Denko of
Japan and Ajit Industries of India, have recognized the potential and have
inaugurated new plants and expanded their production units in their respective
countries. The Asia Pacific region offers advantages in terms of competitive
pricing due to lower production costs, allowing companies to better serve
emerging local markets. These factors contribute to the thriving Asia Pacific
adhesive tapes market.
Major companies operating in Global Adhesive Tape
Market are:
- 3M Company
- Berry Global Inc.
- DuPont de Nemours, Inc.
- HB Fuller Company
- Henkel AG & Co. KGaA
- LINTEC Corporation
- Lohmanh GmbH & Co. KG
- NITTO DENKO CORPORATION
- OJI Holdings Corporation
- Sika AG
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“Growing application of adhesive tape in various end
user industries are key drivers of the adhesive tape market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of adhesive tape with every
passing year are anticipated to register an impressive growth to Global
Adhesive Tape Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Adhesive Tape Market By Resin (Acrylic, Rubber,
Silicone, Others), By Technology (Water Based, Solvent Based, Hot Melt Based), By
Application (Packaging, Masking, Healthcare, Automotive, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Adhesive Tape Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Adhesive Tape Market.
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