The global adhesive tapes market size was evaluated at $50.1 Billion in 2022 and is slated to hit $80.1 Billion by the end of 2030 with a CAGR of nearly 5.5% between 2023 and 2030.
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➤ Increased global market trends through extensive product penetration in a variety of sectors
The enormous demand for packaged products has been a direct result of the thriving e-commerce sector in emerging economies. Moreover, the extensive utilisation of adhesive tapes has been a result of the necessity to safeguard and preserve packaged products, as well as to prevent their wear and tear. The global market trends will be bolstered by an increase in the penetration of adhesive tapes in the automotive, electronics & electrical, and healthcare sectors. In addition, the global adhesive tapes market will be able to establish a profitable trajectory through the utilisation of the product in masking, paper & printing, packaging, office work, construction, retail, and packaging.
➤ In order to mitigate the global industry’s expansion, strict regulations regarding carbon emissions must be implemented.
The global adhesive tapes industry may experience a decline in growth as a result of the implementation of stringent regulations regarding volatile organic compound emissions. The industry’s development trajectory may be impeded by fluctuating raw material costs on a global scale.
➤ The global industry’s development is significantly impeded by the enforcement of regulations that govern chemical usage in Europe and North America.
The adhesive tapes industry will face a significant challenge in its global expansion due to the stringent regulations regarding chemical use that have been implemented by the EU and regulatory authorities in North America. Moreover, the EPA, COSHIH, and REACH have implemented laws that require chemical and material producers to employ water-based technologies. This has proven to be a significant obstacle for adhesive tape manufacturers, as the solvent-based technologies employed to manufacture adhesive tapes are capable of withstanding extreme climatic conditions and ensuring their durability.
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The Global Adhesive Tapes Market is segmented based on product, application and region
Global Adhesive Tapes Market: Product Segment Analysis
● Acrylic
● Rubber
● Silicone
Global Adhesive Tapes Market: Application Segment Analysis
● Packaging
● Masking
● Consumer & Office
● Healthcare
● Electronics & Electrical
● Automotive
● Paper & Printing
● White Goods
● Retail
● Building & Reconstruction
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The global Adhesive Tapes market profiles key players such as:
● Intertape Polymer Group
● The 3M Company
● Nitto Denko Corporation
● Lohmann GmbH
● Scapa Group PLC
● Rogers Corporation
● tesa SE
● Avery Dennison Corporation
● Berry Global Inc.
● LINTEC Corporation
● Surface Shields
● NICHIBAN CO. LTD
● Advance Tapes International
● CMS Group of Companies
???? Recent Developments
• Lintec Corporation, a company that specialises in the production of adhesive paper and products, manufactured a large quantity of adhesive tapes for the semiconductor manufacturing process in the latter half of 2022. The action will increase the demand for the product in a variety of sectors across a range of packaging solutions.
• Clearlake Capital Group L.P. is anticipated to acquire Intertape Polymer Group Inc., a packaging products & systems firm, in an all-cash transaction valued at $2.6 billion during the first quarter of 2022. The initiative is anticipated to stimulate the global expansion of the adhesive tapes industry.
➤ Over the period of 2023-2030, the Asia-Pacific adhesive tapes market is expected to experience the highest compound annual growth rate (CAGR).
It is anticipated that the Asia-Pacific region, which accounted for 80% of the global adhesive tapes market share in 2022, will experience the quickest CAGR of 7.5% during the forecast timeline. The expansion of the regional market can be attributed to the flourishing automotive manufacturing sector in countries such as Malaysia, Indonesia, India, China, Japan, and Thailand. The adhesive tapes market in the Asia-Pacific region will experience substantial growth as a result of the flourishing healthcare sector in China. The regional market size will expand due to the proliferation of electronic products, including smartphones, televisions, portable computing equipment, and cables.
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