Adhesive tapes work by forming a chemical bond with a surface. This bond is created by the adhesive spreading over the surface of the substrate. When the adhesive and substrate combine, stronger bonds are formed between them. This process is known as chemisorption, and it helps the adhesive stick to a substrate. Adhesive tapes are used in many different applications, such as seat heating elements, airbag wrapping, steering wheel wrapping, healthcare, electronic, building &construction, and mounting rubber profiles.
The Global Adhesive Tapes Market is estimated to account for US$ 49980.5 Mn in terms of value by the end of 2021.
Global Adhesive Tapes Market: Drivers
Growing building and construction industry is expanding end-use industries of adhesives tapes. These tapes are widely used for glazing, abatement, HVAC, and insulation, thus fuelling growth of the market. Moreover, these tapes are thin, smooth, and flexible which makes them ideal for automobile and aerospace manufacturing application, ventilation &air conditioning, paper &printing, and appliance manufacturing.
Global Adhesive Tapes Market: Opportunities
Growing investment in renewable adhesive tapes by key players are projected to give rise to the lucrative opportunity for the global adhesive tapes market in the coming future. They are environment-friendly adhesive technology. Moreover, they contains no VOCs which makes them environmental-friendly solution.
Global Adhesive Tapes Market: Restraints
Fluctuating price of raw materials used in manufacturing renewable adhesives tapes is projected to hamper market growth.
Global Adhesive Tapes Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 (2019 novel coronavirus) outbreak has spread across the world from China, resulting in a lockdown throughout the world. Moreover, as there is no way to control the spread of the virus, almost all the countries across the world have ordered a complete shutdown of all services except essentials. The United States, India, Brazil, and China are the most affected countries. Owing to this worst situation, GDPs estimated for the major economies in 2020, have been declined at a rapid pace, according to the International Monetary Fund,
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The global adhesive tapes market was valued at US$ 49980.5 Mn in 2021 and is forecast to reach a value of US$ 60827.3 Mn by 2030 at a CAGR of 3.97 % between 2022 and 2030.
Water based Technology segment held dominant position in the global Adhesive Tapes market in 2021, accounting for 44.4 % share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Adhesive Tapes Market Trends:
The growing trend of miniaturization of electronic devices, such as portable personal computers, cell phones, and tablets, is a major factor driving the adhesive tapes market globally. These adhesive tapes are also commonly used in electronics and lighting assemblies.
New product launch due to continuous innovation in adhesive tapes is another major trend in the market. For instance, in August 2022, Lohmann has launched an adhesive tape for the flexographic printing industry with an exceptionally high grip to the sleeve. DuploFLEX® 5 GRIP increases press uptime while maintaining ease of demounting. The product was developed to provide the printing industry with a more process-safe and sustainable adhesive solution.
Global Adhesive Tapes Market: Competitive Landscape
3M, Avery Dennison Corporation, Dupont, HB Fuller Company, Henkel AG & Co. Kgaa, Intertape Polymer Group, Lintec Corporation, Nitto Denko Corporation, OJI, Holding Corporation, Scapa Group Plc, Sekisui Chemical Co. Ltd, Shurtape Technologies LLC, Sika AG, And Tesa SE
Global Adhesive Tapes Market: Recent Developments
In January 2020, Dupont showcased its newly expanded portfolio, including DuPont™ Styrofoam™ Brand, Tyvek® Brand products, Great Stuff™ Gaps & Cracks Insulating Foam Sealant, and Corian® Solid Surfaces.
In March 2019, HB Fuller introduced Lunamelt™ HL 2838, a tape application designed primarily for carton sealing and easy-opening tear tapes for e-commerce shipment boxes and Swift®melt 2033, which is a high-performance adhesive used by tape manufacturers on double-sided applications.
In February 2020, Henkel Adhesives Technologies inaugurated its new production facility in Kurkumbh, India, near Pune. This business unit will serve the growing demand of Indian industries for high- performance solutions in adhesives, sealants, and surface treatment products.
In April 2020, Henkel developed new magnet bonding tape Loctite EA 9536 with easy assembly and high material expansion for electric motors. Loctite EA 9536 offers unique properties compared to existing solutions on the market.
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