The market for adhesive tapes is expected to grow at a CAGR of 6.2% throughout the forecast period of 2022 to 2030 with the global market revenue that is expected to cross over US$ 80 billion by 2030. there is a growing need for lighter automobiles, which is another factor contributing to the expansion of the market for adhesives. The fact that adhesives are not harmful to the environment in any way and do not have a negative impact on the natural world is an advantage that contributes to the expansion of the market for adhesive tapes across the board in every region of the world. Similarly, the continuation of the trend toward the use of flatter and more microelectronic devices has led to an increase in the application of adhesive tapes in the industry of electrical and electronic goods. The market for adhesive tapes in the healthcare and hygiene end-use industry is anticipated to grow at a rate that is likely to be the highest during the period covered by the forecast. This expansion can be linked to a rise in the average age of the population as well as an increase in the prevalence of chronic diseases. In addition, the need for in vitro diagnostics, hydrophilic films, transdermal drug delivery patches, and oral dissolvable films is boosting the market in the healthcare industry all over the world. In many parts of the world, including the Asia-Pacific region, South America, and the Middle East, the building and construction industry is one of the end-use industries that is experiencing the most growth. Because of their application in HVAC, glazing, asbestos abatement, and insulation, these tapes are the primary factor driving market growth in the building and construction industry.
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The increased cost of producing adhesives is one way in which the adhesives sector has been negatively impacted by the rising costs of electricity. The continually rising global demand for chemicals, as well as capacity limits in the supply of primary chemicals and resin feedstock, have been driving forces behind the rise in the prices of raw materials. Because of a shortage in the availability of monomers like piperylene and C9 monomers, which are utilized in the production of adhesive raw materials, the cost of such raw materials has increased.
Paper-based tapes segmented generated the largest revenue in 2021. Paper-backed adhesive tapes having pores are called micropore tapes. These tapes have an adhesive layer covered with kraft, crape, or recyclable paper. Crape paper tapes with a rubber adhesive layer are versatile. These eco-friendly tapes come in many colors. Paper tapes have a strong grip and can endure high temperatures. These tapes are more comfortable than PET tapes. Thin, flexible, and smooth, they are well-suited for usage in autos and aviation, home appliances, HVAC, and paper and printing. Different raw materials used to make the paper can affect the quality of paper backing tapes. Paper backing depends on the quality of the sticky tape, where it’s used, how long it’s used, and what it’s used for.
Water-based technologies are expected to witness the highest CAGR during the forecast period of 2022 to 2030. New infrastructure developments in India, Taiwan, and other emerging countries are raising the demand for water-based adhesive tapes in the Asia Pacific area. Demand for water-based adhesive tapes is driving market expansion. Due to its adaptability, water-based technology is used in a variety of packaging applications. Due to the water-based technology’s low impact on the environment and lack of VOC emissions, these tapes are in high demand. This is the main reason for the global need for water-based adhesive tapes.
Single-coated adhesive tapes were most popular in 2021. Single-coated tapes have adhesive on only one side. The backing can be a polymeric film, paper, foil, nonwoven, or high thread count is woven cloth. Adhesive could be natural rubber, silicone, or acrylic. Masking tapes, medical tapes, electrical tapes, carton sealing tapes, and BOPP adhesives help connect substances to surfaces and link neighboring or overlapping components.
Due to the surge in consumption of double-coated tapes because of their endurance, improved surface adhesion, and high shear strength, traditional techniques of sealing and attaching may be superseded soon. Robust manufacturing, the rapid expansion of the automotive industry, and the substitution of adhesive tapes for conventional fasteners like screws, bolts, and rivets are expected to enhance the global market for adhesive tapes. Due to the quick transition from conventional techniques to double-coated tapes, the market is expected to evidence the highest CAGR registering the fastest growth during the forecast period.
Electronics led global revenue in 2021 among other end-user industries. The automobile industry is predicted to have the highest CAGR during the forecast period. Electronics use pressure-sensitive tapes and adhesives to put components directly into devices. The miniaturization of electronic devices, especially mobile phones, compact PCs, and tablets, is driving the global market for sticky tapes. Automotive adhesive tapes are used for wire harnessing, electric insulation, car body repairs, masking, and surface protection. Increased use of adhesive tapes in vehicle interiors to improve resistance and adherence will drive the adhesive tapes market over the forecast period. This is likely during the forecast.
In 2021, Asia Pacific accounted for more than 45% of the global market. Because of advances in technology, analysts anticipate that the Asia-Pacific region will expand at an encouraging rate during the forecast period. In addition, raw materials are readily available in the Asia Pacific, and the manufacturing infrastructure is also expanding with the passage of time. In contrast, the markets for adhesive tapes in North America and Europe are already mature, with the presence of a variety of small-scale players and local manufacturing facilities. The United States of America and Italy are both major producers of sticky tapes. There is still a relatively low level of market penetration in the Middle East and Africa region, it is also a potentially lucrative market for adhesive tapes. This is due to the large rise in commercial and infrastructure-related activities in the region.
The adhesive tape industry is fragmented due to the presence of a significant number of global and regional market participants. Most adhesive tape suppliers are exploring merger and acquisition strategies to expand internationally. High raw material costs impede new players’ entry, while established manufacturers see this as a chance to strengthen their products and increase revenue share. Companies are focused on cutting-edge products to enhance revenue, meet market demand for adhesive tapes, and increase manufacturing capacity through competitive technologies. 3M Company (U.S.), Tesa SE (Germany), Nitto Denko Corporation (Japan), Lintec Corporation (Japan), Intertape Polymer Group (Canada), Avery Dennison Corporation (U.S.), Lohmann GmbH (Germany), Berry Global Inc. (U.S.), Scapa Group PLC (Canada), and Rogers Corporation (Canada) are major competitors in the adhesive tapes market (US). US-based 3M is a market leader.
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