Adhesive Tapes Market worth $110.6 billion by 2028 – At a CAGR of 5.6%

According to a market research report, the “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.

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This report also provides a comprehensive analysis of the companies listed below:

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).

Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Adhesive Tapes Market.

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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.

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.

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