Adhesive Tapes Market Share and Forecast by 2028
Adhesive Tapes Market Forecast to 2028 - Analysis By Resin Type (Acrylic, Rubber, Silicone, and Others), Technology (Water-Based Adhesive Tapes, Solvent-Based Adhesive Tapes, and Hot-Melt-Based Adhesive Tapes), Tape Backing Material [Polypropylene (PP), Paper, Polyvinyl Chloride (PVC), and Others], and Application (Packaging, Healthcare, Automotive, Electrical and Electronics, Building and Construction, and Others)
- Status : Published
- Report Code : TIPRE00008760
- Category : Chemicals and Materials
- No. of Pages : 191
- Available Report Formats :
- Last update date : June 17, 2024
2020 Market Size
US$ 60.92 Bn
Base year value
2028 Forecast
US$ 89.44 Bn
Projected by 2028
CAGR 2021-2028
5.1 %
Growth rate
Addressable Market
US$ 613.59 Bn
(2021-2028)
The adhesive tapes market was valued at US$ 60,922.61 million in 2020 and is projected to reach US$ 89,440.92 million by 2028; it is expected to grow at a CAGR of 5.1% from 2021 to 2028.
Adhesive tapes are available in two typesspecialty tapes and commodity tapes. The coating technologies utilized in adhesive tapes are water-based, solvent-based, and hot-melt. Technological advancements have led to thegrowing demand for lightweight backing materials in the recent past. Adhesive tapes offers wide range of application in packaging, automotive, and healthcare industries.
In 2020, Asia Pacific held the largest share of the global adhesive tapes market. It is also estimated to register the highest CAGR in the market during the forecast period. The demand for adhesive tapes is expected to increase in the region due to various factors such as the huge population base, increasing disposable income, and improved living standards. The growth of the automotive market has also propelled demand for adhesive tapes in Asia Pacific. These factors have also attracted foreign players to expand their business in the region. Additionally, the rapid growth of Asia Pacific is attributed to the growth of the construction industry in the region. China is the world’s largest construction market and is expected to grow significantly in the next a few years. Moreover, other economies, such as India, are also set to grow at a tremendous rate with the focus on boosting domestic manufacturing activities.
The impact of the COVID-19 pandemic on the global adhesive tapes market is mixed. Various industries, such as automobiles, construction, electronics and electrical, have experienced sharp declines. In contrast, the healthcare industry has grown since the outbreak due to excessive demand for PPE kits and medical equipment. With the state of economic recovery, several industries and economies are strategically planning to invest in the healthcare sector. This is expected to provide an impetus to the adhesive tapes market growth. Health-related initiatives comprise purchasing professional medical and personal protective equipment (PPE), expanding research capabilities, hiring additional staff and benefits, supporting hospitals and local governments, and donating vaccine production. In addition, many companies such as 3M Company, Tesa S.E., and Nitto Denko Corporation have begun to actively market the product to expand their customer base and reduce business impact.
Market Assessment and Insights
- Asia Pacific dominated the market with 46.8% share in 2020.
- Asia Pacific is poised to grow at a CAGR of 5.3% over the forecast period.
- United States market is projected to grow at a CAGR of 5.2% over the forecast period.
- By Resin Type, the Rubber segment accounted for the largest market share of 41.9% in 2020.
- By Technology, the Hot-Melt-Based Adhesives Tapes segment is anticipated to witness the fastest growth, registering a CAGR of 5.3% over the forecast period
- By Backing Material, the Polypropylene (PP) segment accounted for the largest market share of 44.7% in 2020.
- By Application, the Packaging segment is anticipated to witness the fastest growth, registering a CAGR of 5.5% over the forecast period
- The report profiles key industry players such as 3M Co, Avery Dennison Corp, Rogers Corporation, Nitto Denko Corp, tesa SE, Intertape Polymer Group, Scapa Group Ltd, Lohmann GmbH & Co.KG, LINTEC Corp, Berry Global Group Inc, while also analyzing key developments in novel ideas, disruptive products, and innovative services that could reshape the future market and reveal emerging themes across the industry.
Source: The Insight Partners' analysis based on proprietary research, government publications, company annual reports, investor presentations, industry databases, and expert interviews.
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Adhesive Tapes Market: Strategic Insights
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Market Insights
Wide Range of Applications of Adhesive Tapes
Adhesive tapes are material and adhesive film combinations used to bond or join objects instead of using screws, fasteners, or welding. The tape can protect the surface by not requiring fasteners or screws to protect the surface, thereby making it useful for various applications in industries, such as packaging, healthcare, automotive, electrical and electronics, and building and construction. Liquid adhesives are messy and time-consuming because they must be sprayed or rolled on the surface before bonding. Adhesive tapes have major applications in industries, such as packaging, healthcare, automotive, electrical and electronics, and building and construction.
Application Insights
Based on application, the global adhesive tapes market is segmented into packaging, healthcare, automotive, electrical and electronics, building and construction, and others. The automotive segment led the market in 2020. Adhesive tapes have multiple applications in the automotive sector. In the vehicle interior, adhesive tapes are used for seat heating elements, airbag wrapping and securing, steering wheel wrapping, rubber mounting, plastic profiles, and foam and fabric attachment on the instrument panel. In car interiors with features such as attachments for mobile devices, electronic chargers, air purifiers, connection for portable freezers, and other components, adhesive tapes are utilized for fastening and bonding purposes. Moreover, they are used to develop automotive electronics, such as light assemblies, air conditioning systems, electronic display panels, battery connectors & wires, and sensors. Moreover, adhesive tapes are rapidly replacing nut bolt fasteners to reduce vehicle weight and enhance vehicle aesthetics. Rising demand for lightweight sealing in vehicles and increasing utilization of adhesive tapes in the manufacturing of electric vehicles are projected to bolster the growth of the adhesive tapes market in the coming years.
A few key market players operating in the adhesive tapes market are 3M, Nitto Denko Corporation, tesa SE, Avery Dennison Corporation, Intertape Polymer Group, LINTEC Corporation, Berry Global Inc, Scapa, Lohmann GmbH & Co.KG, and Rogers Corporation.
Report Spotlights
- Progressive industry trends in the global adhesive tapes market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global adhesive tapes market from 2019 to 2028
- Estimation of the demand for adhesive tapes across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
- Recent developments to understand the competitive market scenario and the demand for adhesive tapes
- Market trends and outlook, coupled with factors driving and restraining the growth of the adhesive tapes market
- Decision-making process by understanding strategies that underpin commercial interest with regard to global adhesive tapes market growth
- Adhesive tapes market size at various nodes of market
- Detailed overview and segmentation of the global adhesive tapes market, as well as its dynamics in the industry
- Adhesive tapes market size in various regions with promising growth opportunities
The report segments the global adhesive tapes market as follows:
- By Resin Type the Adhesive Tapes Market is segmented into Acrylic, Rubber, Silicone, Others.
- By Technology the Adhesive Tapes Market is segmented into Water-Based Adhesive Tapes, Solvent-Based Adhesive Tapes, and Hot-Melt- Based Adhesive Tapes.
- By Tape Backing Material the Adhesive Tapes Market is segmented into Polypropylene (PP), Paper, Polyvinyl Chloride (PVC), Others.
- By Application the Adhesive Tapes Market is segmented into Packaging, Healthcare, Automotive, Electrical and Electronics, Building and Construction, Others.
Adhesive Tapes Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 60.92 Billion |
| Market Size by 2028 | US$ 89.44 Billion |
| Global CAGR (2020 - 2028) | 5.1% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Resin Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
Adhesive Tapes Market Players Density: Understanding Its Impact on Business Dynamics
The Adhesive Tapes Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Company Profiles
- 3M
- Nitto Denko Corporation
- tesa SE
- Avery Dennison Corporation
- Intertape Polymer Group
- LINTEC Corporation
- Berry Global Inc
- Scapa
- Lohmann GmbH & Co.KG
- Rogers Corporation
Frequently Asked Questions
Additionally, the rapid growth of this region can also be attributed to the growth of the construction industry in the region. China is the world’s largest construction market and is expected to grow significantly over the next few years. Moreover, other developing economies like India is also set to grow at a tremendous rate with the focus of the region towards boosting domestic manufacturing activities.
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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