The report "Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Technology (Solvent, Hot-melt, Water-based), Backing Material (PP, Paper, PVC), End-use Industry (Packaging, Healthcare, E&E, Automotive) and Region - Global Forecast to 2028", is growing at a high rate due to the increased demand from various sectors. The global adhesive tapes market size was USD 80.2 billion in 2022 and is projected to reach USD 110.6 billion by 2028, at a CAGR of 5.6% between 2023 and 2028. The Asia Pacific accounted for the major share of the overall market in 2022. This is attributed to infrastructural developments in the region. The markets in Europe and North America are also expected to grow in the coming years. Growth of the electrical & electronics, automotive, and healthcare industries are propelling the global adhesive tapes market. On the other hand, stringent policies on VOC emissions are projected to hinder the development of the market in these regions.

Browse 360 market data Tables and 80 Figures spread through 346 Pages and in-depth TOC on "Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Technology (Solvent, Hot-melt, Water-based), Backing Material (PP, Paper, PVC), End-use Industry (Packaging, Healthcare, E&E, Automotive) and Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/adhesive-tapes-market-251563138.html

The major driver for the adhesive tapes market is the high demand from the electrical & electronics, healthcare, automotive, building & construction, white goods, paper & printing, retail, and other end-use industries. The trend toward using lightweight devices is leading to the increasing application of adhesive tapes in the electrical & electronics industry. Adhesive tapes have the ability to inhibit corrosion and offer superior bonding and esthetics. However, high prices of backing materials, volatility in crude oil prices, and the effect of the global recession on end-use industries are majorly restraining market growth. There are various opportunities for growth for both, large and small companies that specialize in niche markets. Medium-sized companies are expected to face a competitive scenario in the future. They are expected to either be acquired by larger companies or forced to merge with other companies. However, manufacturers in Europe and North America are required to follow regulations implemented by various regulatory authorities regarding the production as well as the use of adhesive tapes for various applications for reductions in emissions of VOCs. This is a challenge faced by various key players.

Acrylic, by resin type segment is expected to hold largest share of the adhesive tapes market during the forecasted period.

The acrylic resin has a high demand owing to its beneficial chemical and physical properties, low cost, and applications in several end-use industries such as healthcare, transportation, and packaging. These acrylic adhesive tapes can be used in water-based and solvent-based technologies due to its high resistance to other solvents, water, and chemicals. Water-based acrylic adhesives are the cheapest as compared to all other resins used in the adhesive tapes industry.

Acrylic-based adhesive tapes are designed with high shear strength. These tapes are permeable to moisture (measured by the moisture vapor transmission rate). The transmission of moisture depends upon the thickness of the adhesive coating and the adhesive formulation. Acrylic-based adhesive tapes are firmer and more durable than rubber-based adhesive tapes. The properties of acrylics are fast curing time; excellent resistance to oxidation, temperature, and UV radiation; color stability; exceptional anti-aging properties; good balance of adhesion and cohesion; excellent water resistance; and high peel, tack, and shear strength. Acrylic-based adhesive tapes have high demand in spite of higher costs than rubber-based adhesive tapes due to the above-mentioned properties. Acrylic-based adhesive tapes are widely used in the healthcare and automotive industries owing to their properties of excellent adhesion.

The demand for acrylic-based adhesive tapes is increasing majorly in the Asia Pacific region because of the growing electrical & electronics, healthcare, and automotive industries. The properties of acrylic-based adhesive tapes lead to high demand in North America and Europe, where environmental regulations regarding solvent-based technology are stringent. The prices of acrylic-based adhesive tapes are also comparatively lower than those of other types.

Hot-melt, by technology segment hold the fastest growing segment in overall adhesive tapes market during forecast period.

The hot-melt technology is the fastest-growing segment in the overall adhesive tape. With the structural level bond developing over time as the adhesive cures via atmospheric moisture, the hot-melt based technique offers processing advantages such near quick fastening. Many different sectors use hot-melt technology for a variety of purposes. The major consumer of hot-melt-based adhesive technology is the electrical and electronics sector, where adhesive tapes are used to bond coil winds and coil ends. The automotive sector also uses hot-melt based adhesive tapes for wheel covers, headlight coverings, and the attachment of insulating and cushioning materials to metal frames.

Polypropylene (PP)-backed adhesive tapes accounted largest share of the global adhesive tapes market during forecasted period.

Polypropylene-backed adhesive tapes are recyclable, flexible, water & abrasion-resistant, and strong. These tapes accommodate both smooth and irregular surfaces effectively. PP adhesive tapes comes with or without adhesives. It is also referred to as mono-axial-oriented polypropylene (MOPP) film, biaxially oriented polypropylene (BOPP) film, , fiberglass-reinforced filament polypropylene film, and tensilized polypropylene (TPP) film. Based on the chemistry, PP adhesive tapes are usually used for electrical insulation applications. These tapes cannot be printed with ink or made wet by adhesives due to their low hydrophilicity.

Asia Pacific is the largest consumer of PP adhesive tapes. These tapes cater to a wide variety of industries in the fast-moving consumer goods (FMCG) sector which is growing rapidly due to factors such as increasing urban population, demand for pharmaceutical supplies, increasing consumer awareness, and growth of the e-commerce industry. Demand for adhesive tapes is also increasing in applications such as medium & heavy-duty carton sealing, gift wrapping & decoration, general-purpose repairs, bundling & strapping, and stationery. Market growth is driven by the increasing demand from India, South Korea, China, Indonesia, and other countries.

Commodity adhesive tapes likely to account a largest share of the global adhesive tapes market during the forecast period.

Commodity adhesive tapes accounted for a higher share of the overall adhesive tapes market, in terms of volume, in 2022. High demand for commodity tapes is from the continuously growing retail and packaging industry. These tapes are also used to pack goods for shipments in bulk quantities hence trending e-commerce industry is also boosting the commodity adhesive tapes. Moreover, the rising number of SMEs are likely to lead to an growing demand for office supplies, which will ultimately increase demand for these tapes.

Asia Pacific region likely to account the largest share of the global polyurea coatings market during forecasted period.

The Asia Pacific is the largest adhesive tapes market, in terms of both, value and volume, and is projected to be the fastest-growing market during the forecast period. The plast decade have seen significant economic growth in the region. As of 2018, the population of the region's fastest-growing consumer nations, China and India, was over XX billion, according to the Population Reference Bureau. With rapidly growing income and the fastest-growing middle class population, this is expected to become an increasingly important driver for a various global end-use industries, including electrical & electronics, packaging, healthcare, and automotive.

The key players following the strategies between 2018 to 2022 3M Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), LINTEC Corporation (Japan), Intertape Polymer Group (Canada). The companies are majorly following product launch, merger & acquisition, and expansion as the strategy to grow and expand the market.

Don’t miss out on business opportunities in Adhesive Tapes Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]