Adhesive Tapes market industry is projected to grow from USD 49.7 Billion in 2022 to USD 79.9 billion by 2030(CAGR) of 5.4% | MRFR

PRESS RELEASE

Published February 16, 2023

Market Scope

The global adhesive tapes market trends and demand, the global market is expecting to grow at a CAGR of 5.4% during the ongoing forecast period of 2020-2030. During this period, the global market is expecting to reach a final market value worth USD 79.9 billion.

The use of commodity and special tapes in packaging is likely to foster market growth over the forecast period. Awareness of hygiene and rise in disposable income levels has driven the need for adhesive tapes in the healthcare sector. The use of medical devices in various developing economies and the improvements in medical infrastructure can bode well for the market demand. Advances in lightweight materials and its application in various industries can bode well for the market. The leaps made by the ecommerce sector, rise in online shopping, and advances in packaging for customer satisfaction can bolster the market demand till 2022.

The adhesive tapes market is a rapidly growing industry that provides a wide range of tapes for various applications, such as packaging, construction, automotive, electrical, and medical industries. Adhesive tapes are made up of a pressure-sensitive adhesive coated onto a backing material, such as paper, cloth, or plastic film.

The global adhesive tapes market is expected to grow at a CAGR of 6.8% from 2021 to 2028, according to a report by Grand View Research. The market is being driven by the growing demand for adhesive tapes in various applications, the increasing adoption of eco-friendly and sustainable adhesive tapes, and the advancements in adhesive tape technology.

In recent years, there has been a trend towards eco-friendly and sustainable adhesive tapes that minimize waste and reduce the environmental impact of packaging and other applications. This has led to the development of innovative adhesive tape solutions such as biodegradable tapes, compostable tapes, and tapes made from recycled materials.

Overall, the adhesive tapes market is a dynamic and rapidly growing industry that is poised for continued growth in the coming years as consumers continue to demand high-quality, eco-friendly, and sustainable adhesive tape solutions for various applications.

Segmentation

The global adhesive tapes market is segmented by material, technology, and application.

By material, it is segmented into paper, polyvinyl chloride, and polypropylene. The polypropylene segment is expected to capture a large market share owing to its use in automotive adhesive tapes. The bonding of electrical components can facilitate the segment growth.

By technology, it is segmented into solvent, hot melt, and others.

By application, it is segmented into construction, healthcare, food & beverages, packaging, and others. The healthcare segment is expected to gain the lead in the global adhesive tapes market owing to use in monitoring electrodes, surgical containers, and other medical devices.

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Regional Analysis

Asia Pacific (APAC) is the fastest growing market for adhesive tapes and the share is attributed to the growing healthcare market. There is growing awareness among the consumers about health and fitness. This fuels the demand for such tapes in healthcare sector from the region. Also, increased investments in infrastructure and construction to support the large population and urbanization can drive the demand for adhesive tapes in construction sector.

However, North America was valued to have the largest market share in 2015 and is expected to expand in size in the coming years. Rising production of vehicles running on fossil fuel and alternative fuel can drive the regional market demand. Developed regions of the U.S. and Canada and expansion of healthcare and automotive sectors can bolster the need for adhesive tapes. It is followed by Europe which is expected to grow steadily over the forecasted period.

The Europe adhesive tapes market is driven by its demand in electrical and electronic sectors. The economic growth of nations and the surge in disposable income levels are critical drivers of the regional market. Hot-melt and solvent technologies are highly used in the region. The slow resurgence of the real estate sector can be opportune for the market to expand gradually.

Competitive Outlook

Shurtape Technologies LLC, Intertape Polymer Group, Avery Dennison Corporation, Nitto Denko Corporation, Scapa Group Plc, Lintec Corporation, Tesa SE, 3M Company, Henkel AG & Company KGaA, and Lohmann GmbH & Co.KG are key players of the global adhesive tape market.3

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