Tapes to Create an Absolute $ Opportunity of US$ 865 Mn in Stick to Skin Materials Market by 2032
Fact.MR latest study provides a complete packaged solution of the stick to skin materials market for the forthcoming decade. It also offers compelling insights into the market shaping factors including growth drivers, restraints, consumer demands, etc. Besides this, it provides information about opportunities arising across various segments including product. technology, use case, and region.
NEW YORK , July 6, 2022 /PRNewswire/ -- The global stick to skin materials market size reached US$ 3.1 Bn in 2021 and is expected to reach a valuation of US$ 3.4 Bn in 2022.
With rising applications of stick to skin materials across healthcare, sports, fashion, and personal care products industries, the total sales of stick to skin materials are projected to rise at a robust CAGR of 7.2% during the forecast period between 2022 and 2032, totaling over US$ 6.8 Bn by the end of 2032.
Stick to skin materials are unique solutions used to stick or bond various products with skin and other surfaces. These materials support applications requiring short-to long-term wear. Increasing adoption of stick to skin materials in clothing, personal care products, medical devices and several other applications is providing a major impetus to the growth of stick to skin materials market.
Similarly, rising use of strong stick to skin adhesive materials in healthcare applications such as medical devices and equipment, wound dressing, secure IV lines, etc., is expected to push the demand for stick to skin materials during the forecast period.
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Rising prevalence of chronic and infectious diseases worldwide has generated enormous demand for drug delivery devices, wearable medical devices, wound care dressings etc., and this trend is likely to continue during the forecast period. Driven by this, sales of stick to skin materials are slated to grow at a healthy pace as they (stick to skin materials) form an integral part of these medical products.
Leading stick to skin materials manufacturers are continuously investing in research and development to explore novel applications areas for stick to skin materials. This will further expand the stick to skin materials market size during the forthcoming years.
Demand is especially rising for tapes such as adhesive transfer tapes, cloth tapes, foam tapes etc. due to their increasing yage across various industries. Fact.MR predicts the tapes segment to grow at a healthy CAGR of 8.2% between 2022 and 2032, creating an absolute incremental opportunity of US$ 865 Mn by 2032.
Currently, North America holds the largest share of 30.3% of the global stick to skin materials market and is likely to retain its dominant position during the forecast period. Increasing applications of stick to skin materials in medical applications, growing popularity of non-invasive surgery, rising healthcare spending and presence of some of the world's leading stick to skin materials manufacturers are propelling the growth in North America stick to skin materials market.
Based on product, the patches segment is expected to expand by 1.8X between 2022 and 2032, creating an absolute incremental opportunity of US$ 509.9 Mn by 2032.
By technology, solvent-based stick to skin materials segment is expected to reach a valuation of US$ 1.7 Bn by 2032.
North America stick to skin market is projected to grow at 6.6% CAGR through 2032.
Europe stick to skin materials market is likely to expand at a robust CAGR of 8.6% between 2022 and 2032, reaching around US$ 2.1 Bn by the end of 2032.
With increasing adoption of stick to skin materials in healthcare applications, the U.S. stick to skin materials market to create an absolute $ opportunity of US$ 692.4 Mn by 2032.
Rising applications of stick to skin materials in healthcare industry is expected to foster the growth of stick to skin materials market during the forecast period.
Increasing adoption of stick to skin materials in personal care products is likely to push the demand for stick to skin materials.
Fluctuation in raw material prices is limiting the growth of stick to skin materials market to some extent.
Implementation of stringent government regulations controlling the formulation of adhesive materials also negatively impacts market growth.
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Leading stick to skin materials manufacturers are focused on expanding their product portfolios by developing innovative products such as foam tapes, adhesive transfer tapes, cloth tapes, hydrogels, hydrocolloids, etc. Besides this, they are adopting growth strategies such as new product launches, partnerships, collaborations, acquisitions, price reduction, and investments in research and development to gain an upper hand in the global stick to skin materials market.
In 2022, 3M Company launched 3M Medical Tape 4576, a long-term stick-to-skin adhesive tape for medical applications.
Key Companies Profiled by Fact.MR
More Valuable Insights on Stick to Skin Materials Market
In the latest study, Fact.MR offers a 360-degree view of the global stick to skin materials market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the stick to skin materials market through detailed segmentation as follows:
Solvent-based Stick to Skin Materials
Hot Melt-based Stick to Skin Materials
Water-based Stick to Skin Materials
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Key Questions Covered in the Stick to Skin Materials Market Report
What will be the demand outlook of the stick to skin materials market in 2022?
What is the projected growth rate of the global stick to skin materials market during 2022-2032?
Which are the key drivers bolstering growth in the stick to skin materials market?
Which factors are hindering the growth in the stick to skin materials market?
Which region is expected to exhibit the fastest growth in the global stick to skin materials market during 2022-2032?
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