Adhesive Tapes Market to Grow $80.1 Billion by 2030

Adhesive tapes are a form of material that typically feature an adhesive on both sides of a thin, flexible strip or sheet. They are employed for the purpose of bonding or joining materials together, or of holding them in place momentarily. There is a wide number of industries that make use of adhesive tapes, from packaging and construction to transportation and electronics to healthcare.

In 2022, the worldwide adhesive tapes market was valued at $50.1 Billion; by 2030, it is expected to reach $80.1 Billion, expanding at a CAGR of almost 5.5% from 2023 to 2030.

The global market for adhesive tapes is expected to increase at a CAGR of roughly 5.5% from 2023 to 2030, according to the data offered by our research analyst.

The global adhesive tapes market was worth roughly $50.1 billion in 2022 and is projected to reach $80.1 billion by 2030, according to a research report.

Due to the importance of ensuring the safety of packed goods and reducing the likelihood of wear and tear, the worldwide adhesive tapes market is expected to expand rapidly over the next years.

In terms of resin, it is expected that acrylic will be the most popular choice worldwide.

The hot-melt-based segment is expected to have the highest compound annual growth rate (CAGR) from 2023 to 2030.

During the forecast time frame, the packaging industry is expected to account for the largest proportion of the global market on the basis of end-use industry.

The market for adhesive tapes is expected to grow at a particularly rapid rate in Asia and the Pacific during the forecasted time frame.

The global chemical sector faces a significant growth challenge from the implementation of rules governing chemical use in Europe and North America.

The most significant barrier to the worldwide expansion of the adhesive tapes market will be the stringent restrictions regarding the use of chemicals enacted by the European Union and regulatory bodies in North America. In addition, manufacturers of chemicals and materials are required by EPA, COSHIH, and REACH to employ water-based technology. Because sticky tapes are so long-lasting and weatherproof thanks to solvent-based technologies, this has been a significant obstacle for the industry.

The global market for adhesive tapes is segmented into rubber, acrylic, and silicone submarkets based on the resin used to make the tapes. In addition, the acrylic subsegment is expected to lead the global market share throughout the assessment timeframe, as it contributed a significant portion of the global market in 2022. The significant demand for acrylic during the assessment time frame may be attributable to its inexpensive prices and beneficial physical & chemical qualities, which drove the segment’s growth. They also have extensive uses in the fields of medicine, packaging, and transportation.

Paper, polypropylene, and polyvinyl chloride are the subsegments that make up the backing material segment of the adhesive tapes market.

The global adhesive tapes market is divided into the solvent-based, water-based, and hot-melt-based subsectors, depending on the underlying technology. Hot-melt-based packaging, which accounted for more than 30% of the global market in 2022, is also expected to post the highest CAGR throughout the forecast period. Furthermore, the segment’s high solid adhesives-based thermoplastic polymer contents can contribute to its expansion throughout 2023-2030. Hot-melt-based products are in higher demand because of their quick setting time, lower prices, and lower environmental effect.

The global adhesive tapes market is segmented into the speciality adhesive tapes market and the commodity adhesive tapes market.

The global adhesive tapes market is segmented by end-use industry, including packaging, masking, consumer & office, paper & printing, healthcare, electronics & electrical, automotive, white goods, retail, and construction & rebuilding. In 2022, packaging accounted for more than half of the total market, and it is expected to continue playing a significant role in the worldwide market during the forecast period. Increased demand for flexible packaging across industries due to the package type’s many advantages may contribute to the market’s expansion over the predicted time period.