Adhesive tapes, also known as pressure-sensitive tapes, are self-stick products that are used for binding, joining, sealing and mounting purposes. They consist of a pressure-sensitive adhesive coated onto a backing material such as paper, plastic film, cloth or metal foil. Adhesive tapes find widespread application across several end-use industries like packaging, healthcare, construction and automotive owing to their ability to provide strong and temporary bonds. They offer advantages like ease of application, repositioning and removal, durability and design versatility. The growing e-commerce industry has significantly augmented the demand for packaging tapes for sealing parcels and shipments.
The Global adhesive tapes market is estimated to be valued at US$ 62239.95 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 To 2031.
Key Takeaways
The key opportunities in the Adhesive Tapes Market Size include increased demand from the packaging industry due to growth of e-commerce. There is also opportunity from automotive and electronics sector owing to miniaturization of components.
The market players are expanding globally to gain access to new growth markets. The companies are focusing on regions like Asia Pacific, South America and Middle East & Africa for market expansion due to high economic growth rates in these areas.
Key players operating in the Adhesive Tapes Market Size are Swiggy, Zomato, Deliveroo, Uber Eats, DoorDash, Grubhub, Just Eat Takeaway.com, Gojek and Grab. These players are focusing on new product launches and partnerships to strengthen their market position.
Market Drivers
Rapid growth of the e-commerce industry is a major market driver. Increased online shopping has significantly augmented the demand for corrugated boxes, tapes and other packaging supplies for sealing and addressing shipments.
Growth of the electronics industry is also propelling the market. Adhesive tapes are widely used in the assembly of various electronics components and devices due to their ability to provide strong yet removable bonds.
Market Restraints
Stringent environmental regulations regarding production and disposal of adhesive tapes is a key market restraint. Production of adhesive tapes generates volatile organic compound emissions which are hazardous. Also, the backing materials used in tapes are mostly non-biodegradable.
Segment Analysis
The adhesive tapes market is segmented based on resin type, technology, category, application, and region. Within resin type, the acrylic segment currently dominates and is expected to continue its dominance over the forecast period. Acrylic tapes offer advantages such as high adhesion to various surfaces, durability, resistance to moisture and solvents, and are manufactured using cost-effective processes.
Among categories, the specialty tapes segment holds the highest share and its demand is increasing from industries such as healthcare, automotive, andgraphics arts. Specialty tapes have specialized adhesive properties and substrate materials catering to the specific requirements of different applications. The healthcare segment within specialty tapes is growing rapidly due to increasing uses of medical tapes in surgical dressings, dressing retention, and wound care.
Global Analysis
The Asia Pacific region dominates the global adhesive tapes market, both in terms of production and consumption. China, India, Japan, South Korea and other Asian countries have witnessed rapid industrialization and infrastructure development, driving the demand for adhesive tapes from various end-use industries. The healthcare sector is expanding in Asia due to rising aging population and increasing prevalence of chronic diseases. This is positively impacting the specialty tapes segment.
North America is another major region, where the automotive and construction industries act as the key end-users. ongoing construction of roads, railways, and buildings are fueling the consumption of adhesive tapes. The presence of leading global players in the US and Canada is also contributing to the regional market growth. Europe and Latin America are relatively mature markets but are expected to show steady gains over the forecast period.
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