Executive Summary
The global adhesive tapes market size is expected to grow from USD 60.48 billion in 2021 to USD 85.00 billion by 2027 at a CAGR of 5.6%.
Adhesive tapes are used in end-use industries such as packaging, masking, consumer & office, electrical & electronics, healthcare, automotive, white goods, paper & printing, building & construction, retail, and others. The increasing applications of adhesive tapes are expected to drive the market. The trend towards using flatter and microelectronic devices continues, increasing the application of adhesive tapes in the electrical & electronics industry. The adhesive tapes market in the healthcare & hygiene end-use industry is expected to grow at the highest rate during the forecast period. This growth is attributed to the rise in the aging population and increasing numbers of chronic diseases. In addition, the demand for in vitro diagnostics, hydrophilic films, transdermal drug delivery patches, and oral dissolvable films are driving the market in the healthcare industry globally. Building & construction is also one of the growing end-use industries of adhesive tapes in regions such as the Asia Pacific, South America, and the Middle East. These tapes are used for HVAC, glazing, abatement, and insulation, thereby driving the market in the building & construction industry.
Prices and the availability of raw materials are the key factors that need to be considered by adhesive tape manufacturers to decide on the cost structure of their products. Rubber, acrylic, silicone, paper, polypropylene (PP), polyvinyl chloride (PVC), adhesives, and release liners are the raw materials used in the manufacture of adhesive tapes. Most of these raw materials are petroleum-based derivatives which are vulnerable to fluctuations in commodity prices. Prices of oil have been highly volatile in the past due to the increasing global demand and unrest in the Middle East. The uncertainty and fluctuations in the cost and availability of feedstock impact the growth of the market. The adhesives industry has been affected due to the increased energy costs in terms of higher manufacturing costs. The consistently increasing global demand for chemicals and the capacity constraints in the supply of these primary chemicals and resin feedstock have fueled the increase in the prices of raw materials. These supply shortages of monomers such as Piperylene and C9 monomers used to make adhesive raw materials have increased the costs of raw materials.
Mechanical fastenings such as nuts and bolts, screws and rivets, and mechanical interlocks are traditionally considered the strongest and the most reliable joining methods. But joining dissimilar surfaces is challenging as the material is likely to crack due to tensile stress under high pressure and therefore lacks reliability and long-term attachment. By replacing traditional fastening systems with adhesive tapes, new applications of adhesive tapes for fixing and fastening are developed. These tapes do away with the challenges of traditional fastening systems and help enhance the lifespan of the product. Tapes also help eliminate rust & corrosion; reduce noise & vibration, manufacturing & assembly time; and enhance product design. These are proven to increase efficiency and performance while lowering production and material costs.
Among backing materials, the paper segment is expected to account for the largest share of the adhesive tapes market. Paper-backed adhesive tapes are also referred to as micropore tapes because of pores in the backing material. These tapes are available with kraft, crape, or any kind of recyclable paper coated with adhesive. Paper tapes made from crape paper and rubber adhesive coating have a wide range of applications. These tapes are eco-friendly and are available in a wide range of colors. Paper tapes have good holding power, heat insulation, and temperature resistance properties. These tapes provide excellent comfort compared to PET adhesive tapes. They are relatively thin, flexible, and also smooth, which makes them suitable for automobile aircraft manufacturing; appliance manufacturing; heating, ventilation & air conditioning (HVAC); and paper & printing applications. The quality of paper backing tapes can differ widely based on the type of raw material used in the manufacturing of paper. The use of paper backing material depends on the quality and where, how long, and for what purpose the adhesive tape should be used.
In the technology segment, the water-based segment is expected to be the fastest-growing segment in the adhesive tape market. The water-based adhesive tape market continues to grow in the Asia-Pacific region due to a steady increase in demand from the building and construction industries due to new infrastructure projects in India, Taiwan, and other emerging countries. Water-based technology provides excellent adhesion to a variety of substrates and is used in a wide variety of packaging applications. The demand for these tapes is increasing because the water-based technology is environmentally friendly and does not emit any VOC during formulation. This is the main reason for the high demand for water-based adhesive tape globally.
The water-based adhesive tape market continues to grow in the Asia-Pacific region due to a steady increase in demand from the building and construction industries due to new infrastructure projects in India, Taiwan, and other emerging countries. Water-based technology provides excellent adhesion to a variety of substrates and is used in a wide variety of packaging applications. The demand for these tapes is increasing because the water-based technology is environmentally friendly and does not emit any VOC during formulation. This is the main reason for the high demand for water-based adhesive tape globally.
The Asia Pacific adhesive tape market in the healthcare industry is projected to grow at the highest CAGR during the forecast period. This growth is due to the high demand for traditional wound care products such as dry dressings, first-aid kits, and adhesive bandages in the region. Growing awareness about advanced wound care is expected to drive demand for new products in the region. The region's growth is mainly due to the high economic growth rate followed by significant investments in various industries such as automotive, healthcare, electrical and electronics, and building and construction. Various companies like Nitto Danco (Japan) and Ajit Industries (India) are setting up new plants in the region or expanding their existing adhesive tape manufacturing units. The advantages of relocating the product to the Asia Pacific are the lower cost of production and the ability to better serve local emerging markets.
The leading players operating in the global adhesive tapes market are 3M Company (US), tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group (Canada), Nitto Denko Corporation (Japan), Lohmann GmbH (Germany), Berry Global Inc. (US), Avery Dennison Corporation (US), Scapa Group PLC (Canada), and Rogers Corporation (US).
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