Description
Global Adhesive Tapes Market Research Report – Forecast till 2026
Market Overview
The Global Market for Adhesive Tapes is expected to record a 5.2% CAGR during the forecast review. The global market growth is attributed to the demand from the automotive industry and increased healthcare expenditure on adhesive tapes. Adhesive tapes have a wide range of applications in various end-use sectors such as the automotive, electronics & electrical, medical, construction, paper, and printing industries. The rising product demand from these sectors and their healthy growth is surging the growth of the global market during the review period.
The global adhesive tapes market is anticipated to grow significantly during the review period owing to the growth of the automotive industry, particularly in Asia-Pacific and Europe. Additionally, socio-economic developments such as an increase in middle-class population and increasing per capita disposable income, especially in emerging economies like China and India, are driving the growth of the global market. However, accelerating raw material prices are expected to restrain the growth of the global market during the review period. Furthermore, the expected rise in demand for adhesive tapes in medical and packaging applications and increased investments in renewable adhesive tapes are expected to create a lucrative opportunity for the global adhesive tapes market by 2026.
Market Segmentation
The global adhesive tapes market has been classified into the backing material, type, resin, application, and region.
In terms of backing material, the global adhesive tapes market has been divided into polypropylene (PP), paper, polyvinyl chloride (PVC), and others. The paper segment is expected to register a 4.6% CAGR during the forecast period owing to a 43.1% market share in 2019.
Based on the type segment, the global market has been subdivided into single-sided and double-sided. The single-sided segment led the global adhesive tapes market with a market share of 62.7% by value in 2019.
In terms of resin, the adhesive tapes market has been classified into acrylic, epoxy, rubber-based, silicone, and others. By application type, the global market has been segmented into automotive, healthcare, packaging, electrical & electronics, building & construction, retail, and others.
Regional Analysis
Geographically, the adhesive tapes market is classified into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Asia-Pacific is likely to dominate the global market owing to the largest market share in 2019 owing to the rising export from countries in the region.
The regional market has been spread across China, India, Australia, New Zealand, and Japan, which are the leading exporters of various types of commercial goods across the world. The market growth of adhesive tapes in Asia-pacific is attributed to the rising retail industry in these countries.
The growth of the adhesive tape market in the region is favored due to the rising requirement for packaged food and beverage items in countries, such as China and India, owing to the increasing per capita disposable income.
Major Players
The key competitors of the global adhesive tapes market are 3M, Avery Dennison Corporation, H.B. Fuller Company, Henkel AG & Co. KGaA, Nitto Denko Corporation, Tesa SE, PPM Industries, and other players.
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
