Adhesive Tape Market Projected to Surpass US$ 143.5 billion by 2031, with a CAGR of 6.7%, Transparency Market Research

Adhesive tapes are widely used in the packaging industry for sealing boxes and cartons. The ecommerce boom, increased demand for convenience packaging, and the need for secure and tamper evident packaging have led to a higher demand for adhesive tapes.

WILMINGTON, Del., Nov. 6, 2023 /PRNewswire/ — The global adhesive tape market was estimated to have acquired US$ 80.9 billion in 2022. It is anticipated to register a 6.7% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 143.5 billion.  The demand for medical wearables and remote monitoring devices is on the rise. Adhesive tapes are used in securing and attaching these devices, presenting a niche market opportunity.

Adhesive tapes are used for various applications in the transportation sector, including rail, air, and marine. The growth of public transportation and infrastructure projects can boost the demand for tapes in these areas. Automation in manufacturing processes is increasing, and adhesive tapes are an integral part of many automated assembly and production lines. The trend creates opportunities for manufacturers to develop specialized tapes for automated applications.

The focus on recycling and the circular economy is driving the development of adhesive tapes that can be easily recycled or are made from recycled materials. Companies that offer sustainable solutions may have a competitive edge.

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Adhesive Tape Market Report Scope:

 

Key Findings of the Market Report  

Based on product, the double coated segment is anticipated to lead the Adhesive Tape market. The electronics industry relies on double coated tapes for secure component attachment and assembly.In terms of composition, the acrylic segment is expected to dominate the market growth. Acrylic adhesive tapes offer excellent temperature resistance, UV resistance, and aging properties.By backing material, the polypropylene segment is expected to accelerate the demand for adhesive tape. Polypropylene backed tapes are used in the electronics industry for applications like insulation, wire harnessing, and cable management due to their electrical insulation properties.

Trends for Adhesive Tape Market 

Medical adhesive tapes are used for wound care, surgical applications, and wearable medical devices. The increasing focus of healthcare sector on patient comfort and convenience is expected to drive growth in this segment.Adhesive tapes are essential in electronics manufacturing for applications like component assembly, insulation, and protection. The demand for specialized adhesive tapes is likely to grow, with the continued advancement of technology and miniaturization of electronic devices.The adhesive tape industry is continually evolving with the development of high performance materials and adhesive technologies, such as acrylic adhesives, silicone adhesives, and foam tapes.The growth of eCommerce has changed the way adhesive tapes are distributed and sold. Companies are adapting to online sales and distribution channels to reach a wider customer base.

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Global Market for Adhesive Tape: Regional Outlook 

Various reasons are propelling the growth of the adhesive tape market in different regions. The regions include,

Europe

Europe has a strong industrial and manufacturing base, with diverse sectors such as automotive, electronics, construction, and healthcare. The use of adhesive tapes in these industries for applications like assembly, bonding, and packaging is expected to drive market growth.Europe is known for its innovation in adhesive technology. Manufacturers in the region are continually developing high performance adhesive solutions, including tapes with specialized features and capabilities to meet the evolving needs of industries.

Asia Pacific

The construction sector in the Asia Pacific region is witnessing robust growth due to urbanization and infrastructure development. Adhesive tapes are used for applications like sealing, insulation, and bonding in the construction industry.The electronics industry in Asia Pacific, particularly in countries like South Korea, Japan, and Taiwan, is a significant user of adhesive tapes for bonding and insulation in electronic devices. The demand for specialized tapes is increasing, with the continuous advancement of technology.

Global Adhesive Tape Market: Key Players  

The following companies are well known participants in the global adhesive tape market: 

Saint Gobain Tape SolutionsIntertape Polymer Group Inc.Avery Dennison CorporationAdvance Tapes InternationalNICHIBAN Co., Ltd.CMS Group of CompaniesLohmann GmbH & Co.KGSurface Shields

A few of the key developments by the players in this market are: 

 

Global Adhesive Tape Market Segmentation  

ProductSingle CoatedDouble CoatedTransfer TapeFoam TapeCompositionAcrylicRubberSiliconeOthersBacking MaterialPolypropylenePaperPolyvinyl ChlorideOthersEnd UseHealthcareBuilding & ConstructionConsumer GoodsAutomotiveGraphicsOthersRegionNorth AmericaLatin AmericaEuropeAsia PacificMiddle East & Africa

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