As per the recently published report by MarketsandMarkets™, the “Structural Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Backing Material, End-Use Industry (Automotive, Healthcare, Electronics & Electrical, Renewable Energy, E-Mobility, Building & Construction), & Region – Global Forecast to 2028″, is growing at a high rate due to the increased demand from various industries. The global structural adhesive tapes market size was USD 10.3 billion in 2022 and is projected to reach USD 13.0 billion by 2028, at a CAGR of 4.1% between 2023 and 2028. Asia Pacific accounted for the major share of the overall market in 2022. This is due to expansion in socio-economic conditions and infrastructure development. Structural adhesive tapes are extensively used due to their properties, such as the ability to impart strength, durability, inhibit corrosion, and superior bonding, among others.
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- 274 Market data Tables
- 75 Figures
- 302 Pages and in-depth TOC on “Structural Adhesive Tapes Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The major players in structural adhesive tapes market include 3M Company (US), Avery Dennison Corporation (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan) and others.
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 structural adhesive tapes market.
Recent Developments in Structural Adhesive Tapes Market Industry
- In February 2021, Avery Dennison Corporation announced its agreement to buy JDC Solutions, Inc., a Tennessee-based pressure-sensitive Structural adhesive tapes maker headquartered in the US, for around USD 24 million.
- In December 2020, Avery Dennison Corporation paid USD 88 million to acquire ACPO, Ltd. (“ACPO”), an Ohio-based maker of self-wound (linerless) pressure-sensitive overlaminate devices headquartered in the US.
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The acrylic segment is the largest and is expected to maintain growth during the forecast period. Acrylic structural adhesive tapes have high shear strength. These tapes are permeable to moisture as measured by the moisture vapor transmission rate (MVTR). MVTR depends on the thickness of the adhesive coating and the adhesive formulation. Acrylic structural adhesive tapes are firmer and more durable than rubber structural adhesive tapes. These tapes have properties such as 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. Hence, they are preferred more despite the higher cost than rubber structural adhesive tapes.
The healthcare end-use industry dominated the overall structural adhesive tapes market, in terms of volume, in 2022. Major applications of structural adhesive tapes in the healthcare sector include medical device assembly materials and treatment. The medical device assembly material applications include gaskets & sealing in medical devices, infrastructure, general device assembly, automated labeling, medical instrumentation, and sealing medical device LCD screens. The treatment applications include temporary tattoos, electromedical, seam reinforcement, drapes, and cover tape, among others.
Asia Pacific is the leading market for structural adhesive tapes market. The shift of manufacturing units from North America and Europe to Asia Pacific is driving the market in the region. China is the largest consumer of structural adhesive tapes and continues to drive the global demand. Healthcare, automotive, electrical & electronics, white goods, and building & construction are the key end-use industries of structural adhesive tapes. These industries are expected to witness significant growth during the forecast period.
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