The adhesive tapes market is estimated to be USD 51.25 billion in 2017 and is projected to reach USD 69.42 billion by 2022, at a CAGR of 6.26% between 2017 and 2022. Adhesive tapes are a continuous, flexible backing material of cloth, cotton, fiber, paper, metal, plastic, or foam coated on one or both sides with a tacky adhesive. Adhesive tapes adhere to a variety of surfaces with light pressure (finger pressure) or with no phase change (liquid to solid). There are 2 categories of adhesive tapes, namely, commodity adhesive tapes and specialty adhesive tapes. Commodity adhesive tapes include packaging, masking, and consumer & office tapes. Specialty adhesive tapes are used in various applications, such as healthcare, electrical & electronics, automotive & transportation, white goods, paper & printings, building & construction, and retail.
Download FREE PDF Sample Report at https://www.marketsandmarkets.com/pdfdownload.asp?id=251563138
The strategy of acquisitions was the key growth strategy adopted by leading players in the adhesive tapes market between 2014 and 2018. Companies operating in the adhesive tapes market are focused on enhancing their product portfolios and expanding their global presence. These companies are also focused on entering new markets by launching technologically-advanced and eco-friendly adhesive tapes for various end-use industries. Leading manufacturers of adhesive tapes include 3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), Avery Dennison Corporation (US), Shurtape Technologies, LLC (US), and Scapa Group Plc (UK).
Intertape Polymer Group, Inc. is a key player in the adhesive tapes market. The company accounted for a share 50% of all developmental activities that took place in the adhesive tapes market between 2014 and 2018. Intertape Polymer has adopted inorganic growth strategies to enhance its geographic reach in the adhesives tapes market. For instance, in 2015, the company acquired Tara Tape (US) for a purchase price of USD 11.0 million. This acquisition enabled Intertape Polymer to enhance its growth in the packaging tapes segment.
The 3M Company is another key player that has established a strong foothold in the adhesive tapes market. The company concentrates on expanding its customer base through acquisitions. For instance, in October 2016, the 3M Company invested USD 135 million in its Tuas Plant (Singapore). The company aims to manufacture acrylic foam tapes (Scotch Tape) for use in applications, such as healthcare, packaging, and electrical & electronics.
The adhesive tapes market is projected to grow from USD 51.25 billion in 2017 to USD 69.42 billion by 2022, at a CAGR of 6.26% during the forecast period. The adhesive tapes market has been segmented on the basis of resin type, technology, backing substrate, category, application, and region.
Based on resin type, the silicone segment of the adhesive tapes market is expected to grow at the highest CAGR during the forecast period. The performance of silicone-based adhesive tapes is excellent on low surface energy substrates. Silicone-based adhesive tapes comprise silicone polymers and are widely used in specific industrial applications, such as solar and wind energy, heavy machinery, and applications involving extreme environments. These tapes are used in the form of masking tapes, process tapes, and high-performance insulation laminates. Silicone-based adhesive tapes can maintain adhesion over a large temperature range and possess the ability to adhere to difficult surfaces.
Based on technology, the hot-melt segment of the adhesive tapes market is expected to grow at the highest CAGR during the forecast period. Hot-melt technology provides the advantage of high strength and immediate bond, which makes them ideal for a variety of applications, such as building & construction, automotive, white goods, and electrical & electronics. Benefits of using hot-melt technology include excellent adhesion, quick set and ease of use, and fast processing.
Based on backing substrate, the paper segment of the adhesive tapes market is expected to grow at the highest CAGR during the forecast period. Smooth or crepe paper with different elongation degrees and tensile strengths are used as backing materials for adhesive tapes. The raw paper used as a backing material is treated with latex to improve its chemical and physical properties. Paper-based adhesive tapes are available in different grades and are used in a variety of applications, especially as masking tapes.
Based on application, the healthcare segment of the adhesive tapes market is expected to grow at the highest CAGR from 2017 to 2022. The growth of the healthcare segment can be attributed to the rising incidences of wound infections and increasing awareness regarding advanced medical technologies.
The adhesive tapes market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The shift of manufacturing units from North America and Europe to Asia Pacific is driving the growth of the Asia Pacific adhesive tapes market. China is the largest consumer of adhesive tapes in the Asia Pacific region. The adhesive tapes market in the Middle East & Africa and South America is witnessing high growth, owing to the increasing use of adhesive tapes in various end-use industries, such as packaging, healthcare, electrical & electronics, building & construction, and automotive.
