Adhesive Tapes Market, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2030
Market Scope
The global adhesive
tapes market trends and demand, the
global market is expecting to grow at a CAGR of 5.4% during the ongoing
forecast period of 2020-2030. During this period, the global market is
expecting to reach a final market value worth USD 79.9 billion.
The use of
commodity and special tapes in packaging is likely to foster market growth over
the forecast period. Awareness of hygiene and rise in disposable income levels
has driven the need for adhesive tapes in the healthcare sector. The use of medical
devices in various developing economies and the improvements in medical
infrastructure can bode well for the market demand. Advances in lightweight
materials and its application in various industries can bode well for the
market. The leaps made by the ecommerce sector, rise in online shopping, and
advances in packaging for customer satisfaction can bolster the market demand
till 2022.
But
fluctuations in raw material prices can restrain the market growth.
Segmentation
The global
adhesive tapes market is segmented by material, technology, and application.
By
material, it is segmented into paper, polyvinyl chloride, and polypropylene. The
polypropylene segment is expected to capture a large market share owing to its
use in automotive adhesive tapes. The bonding of electrical components can
facilitate the segment growth.
By
technology, it is segmented into solvent, hot melt, and others.
By
application, it is segmented into construction, healthcare, food &
beverages, packaging, and others. The healthcare segment is expected to gain
the lead in the global adhesive tapes market owing to use in monitoring
electrodes, surgical containers, and other medical devices.
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Regional
Analysis
Asia
Pacific (APAC) is the fastest growing market for adhesive tapes and the share
is attributed to the growing healthcare market. There is growing awareness
among the consumers about health and fitness. This fuels the demand for such
tapes in healthcare sector from the region. Also, increased investments in
infrastructure and construction to support the large population and
urbanization can drive the demand for adhesive tapes in construction sector.
However,
North America was valued to have the largest market share in 2015 and is
expected to expand in size in the coming years. Rising production of vehicles
running on fossil fuel and alternative fuel can drive the regional market
demand. Developed regions of the U.S. and Canada and expansion of healthcare
and automotive sectors can bolster the need for adhesive tapes. It is followed
by Europe which is expected to grow steadily over the forecasted period.
The Europe
adhesive tapes market is driven by its demand in electrical and electronic
sectors. The economic growth of nations and the surge in disposable income
levels are critical drivers of the regional market. Hot-melt and solvent
technologies are highly used in the region. The slow resurgence of the real
estate sector can be opportune for the market to expand gradually.
Competitive
Outlook
Shurtape
Technologies LLC, Intertape Polymer Group, Avery Dennison Corporation, Nitto
Denko Corporation, Scapa Group Plc, Lintec Corporation, Tesa SE, 3M Company,
Henkel AG & Company KGaA, and Lohmann GmbH & Co.KG are key players of
the global adhesive tape market.3
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