|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD 80.42 billion
|
|
CAGR
(2023-2028)
|
4.91%
|
|
Fastest
Growing Segment
|
Acrylic
|
|
Largest
Market
|
Asia
Pacific
|
Market Overview
Global
Adhesive Tape Market has valued at USD 80.42 billion in 2022 and is anticipated
to project robust growth in the forecast period with a CAGR of 4.91% through
2028. Backing materials coated with an adhesive, commonly known as adhesive
tape, are versatile and widely used. These tapes consist of materials such as
paper, plastic, cloth, metal, or foam, which are coated on one or both sides
with an adhesive. Adhesive tapes come in various types, including commodity
adhesive tapes and specialty adhesive tapes. Commodity adhesive tapes, such as
packaging, masking, and consumer and office tapes, are commonly used in
everyday applications. On the other hand, specialty adhesive tapes are designed
for specific purposes and find applications in industries like healthcare,
electrical & electronics, automotive & transportation, white goods,
paper & printing, building & construction, and retail.
Adhesive
tapes offer a convenient alternative to traditional fasteners, screws, or
welding for bonding or joining objects together. By using adhesive tapes, you
can simplify production processes and work with lower-temperature applications.
Additionally, adhesive tapes provide surface protection without the need for
fasteners or screws, which can potentially damage the surface. Compared to
messy and time-consuming liquid adhesives that require spraying or rolling,
adhesive tapes offer a more efficient option, especially for automated product
production.
The
market for adhesive tapes is expected to witness significant growth due to
their increasing application in various end-use industries. Industries such as
packaging, masking, consumer & office, electrical & electronics,
healthcare, automotive, white goods, paper & printing, building &
construction, retail, and others rely on adhesive tapes for diverse purposes.
In particular, the electrical and electronics industry is experiencing a surge
in the use of adhesive tapes as the demand for flatter and microelectronic
devices continues to rise. Moreover, the healthcare & hygiene sector is
expected to exhibit the fastest growth rate in the adhesive tapes market during
the forecast period, driven by the rising demand from healthcare industries.
For
adhesive tape manufacturers, pricing and raw material availability are critical
factors in determining the cost structure of their products. Raw materials like
rubber, acrylic, silicone, paper, polypropylene (PP), polyvinyl chloride (PVC),
adhesives, and release liners are essential components of adhesive tapes.
However, as most of these raw materials are petroleum-based derivatives, their
prices are susceptible to volatility in the commodity market. Furthermore, the
global trend of replacing traditional fastening techniques with adhesives, such
as bolts, screws, and rivets, is propelling the growth of the adhesive tapes
market. This presents a lucrative growth opportunity for manufacturers
operating in this sector.
Key Market Drivers
Growing
Demand of Adhesive Tape from Healthcare Industry
Adhesive
tapes play a vital role in the healthcare industry by providing essential
functions in various applications. They are extensively used in wound dressing
to secure and protect wounds, ensuring proper healing. Additionally, adhesive
tapes are crucial in securing intravenous (IV) lines, preventing dislodgement
and ensuring continuous delivery of medication or fluids. Furthermore, these
tapes are indispensable in surgical procedures, providing secure and reliable
closures for incisions.
The
demand for adhesive tapes in the healthcare industry has witnessed a
substantial increase due to a combination of factors. The ongoing COVID-19
pandemic has significantly contributed to the surge in demand for medical
supplies, including adhesive tapes. The need to ensure proper hygiene and
infection control measures has led to an increased usage of adhesive tapes in
various healthcare settings. Moreover, the rising incidence of chronic
diseases, coupled with the aging population, has further propelled the demand
for adhesive tapes in wound care management and long-term medical treatments.
Innovation
and research & development (R&D) activities in adhesive technologies
have been instrumental in driving the growth of the adhesive tape market in the
healthcare sector. Manufacturers are investing in R&D to develop advanced
adhesive solutions that meet the specific requirements of healthcare
applications. For instance, there has been a focus on developing skin-friendly
adhesive tapes that are hypoallergenic, minimizing the risk of adverse
reactions. Additionally, advancements in adhesive technology have led to the
introduction of tapes that offer superior adhesion while being gentle on the
skin. For example, 3M has introduced a silicone-based, repositionable tape that
provides secure adhesion but can be easily removed without causing pain or skin
damage.
In
conclusion, the growing demand for adhesive tapes from the healthcare industry
serves as a significant driver of the global adhesive tape market. As the
healthcare sector continues to evolve and expand, the need for advanced,
reliable, and safe adhesive solutions will also increase. This presents ample
growth opportunities for the adhesive tape market, encouraging further
innovation and development of adhesive technologies tailored to meet the
evolving needs of the healthcare industry.
Growing
Demand of Adhesive Tape from Packaging Industry
Adhesive
tapes play a crucial role in the packaging industry, serving multiple functions
that are vital for ensuring the integrity and security of packaged goods. They
not only provide reliable box sealing, but also contribute to pallet unitizing
and bundling items, offering a comprehensive packaging solution. Moreover,
these versatile tapes find applications across various packaging types,
including retail, transport, and industrial packaging, among others, catering
to a wide range of industry needs.
The
growing demand for adhesive tapes in the packaging industry can be attributed
to several factors. One of the key drivers is the exponential rise in
e-commerce, fueled by the increasing trend of online shopping, especially in
the wake of the COVID-19 pandemic. As more consumers turn to online platforms
for their shopping needs, the need for efficient and secure packaging
materials, including adhesive tapes, has witnessed a significant surge.
In
addition to the e-commerce boom, advancements in adhesive technology have
revolutionized the quality and performance of adhesive tapes. These
technological advancements have led to the development of tapes with superior
bonding strength, enhanced durability, and increased resistance to
environmental factors. As a result, these tapes have become more appealing for
packaging applications, ensuring that packaged goods remain securely sealed and
protected throughout their journey.
In
conclusion, the rising demand for adhesive tapes from the packaging industry is
a significant driving force behind the growth of the global adhesive tape
market. As the packaging sector continues to evolve, with a growing emphasis on
sustainability and efficiency, the need for innovative, durable, and
eco-friendly adhesive solutions becomes increasingly paramount. This presents
numerous opportunities for the adhesive tape market to further expand and cater
to the evolving needs of the packaging industry, ensuring the safe and reliable
transportation of goods while minimizing environmental impact.
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Key Market
Challenges
Volatility
in Cost of Raw Materials
The
production of adhesive tapes involves a wide range of raw materials, including
adhesives, resins, rubber, and various types of backing materials. Each of
these materials contributes to the overall quality and performance of the
adhesive tapes.
When
there are fluctuations in the prices of these raw materials, it directly
impacts the manufacturing cost of adhesive tapes. As reported by Industry Arc,
the volatility in raw material prices is one of the major challenges faced by
the adhesive tapes market. Manufacturers are compelled to adjust their pricing
strategies in response to these fluctuations, which can potentially influence
consumer buying behavior.
There
are several factors that contribute to the volatility in the cost of raw
materials. Regional supply and demand variations, production outages, currency
fluctuations, and even the overall GDP growth of a region can have a
significant impact on raw material prices.
Moreover,
the ongoing global supply chain disruptions have further exacerbated the
challenge. The tightness in raw material availability has affected not only the
adhesive and sealants industry but also various other sectors that rely on
these materials. This underscores the importance of effective supply chain
management and strategic planning in mitigating the impact of raw material
price fluctuations.
In
conclusion, the production of adhesive tapes is a complex process that is
influenced by multiple factors, including the availability and cost of raw
materials. Manufacturers in this industry need to closely monitor and adapt to
the ever-changing market conditions to ensure sustainable growth and success.
Key Market Trends
Growing Demand of Sustainability and
Eco-friendly Tapes
Sustainable
adhesive tapes, which are made from bio-based or recycled materials, have gained
significant popularity due to their reduced environmental impact. These
eco-friendly tapes not only offer similar performance to traditional adhesive
tapes but also contribute to a significantly lower carbon footprint.
In
response to the growing demand for sustainable options, manufacturers have been
focusing on creating adhesive tapes that are not only environmentally friendly
but also easier to recycle. A prime example is tesa, a leading adhesive tape
manufacturer, which has developed a range of tapes made from recycled or
bio-based materials.
The
increasing awareness about environmental issues and the harmful effects of
plastic waste has been a key driver behind the rising demand for sustainable
and eco-friendly adhesive tapes. Consumers and businesses alike are actively
seeking greener alternatives, leading to a shift in consumer behavior.
Moreover,
governments worldwide are implementing stricter regulations concerning
non-renewable resources and waste management. These regulations are pushing
industries, including the adhesive tape market, to adopt more sustainable
practices.
The
shift towards sustainability is not only impacting the adhesive tape market but
also driving manufacturers to invest in research and development (R&D) for
creating more eco-friendly adhesive solutions. This trend is not just
influencing production processes but also shaping the future of the adhesive
tape market.
To
summarize, the growing demand for sustainability and eco-friendly tapes is a
significant and prevailing trend in the global adhesive tape market. As
environmental concerns continue to shape consumer behavior and regulatory
landscapes, the focus on developing and promoting sustainable adhesive
solutions will only intensify, offering new and exciting opportunities for
growth in the adhesive tape market.
Segmental Insights
Resin
Insights
Based
on the category of resin, the acrylic segment emerged as the dominant player in
the global market for Adhesive Tape in 2022. Acrylic resin, a commonly used
adhesive material in adhesive tapes, offers exceptional properties for a
variety of surfaces. Its strong initial tack and adhesion make it ideal for
bonding plastics, metals, glass, and paper. Not only does it provide excellent
resistance to ultraviolet (UV) radiation, weathering, and aging, but it also
exhibits remarkable durability in outdoor applications. With the ability to
withstand extreme temperature ranges, from freezing cold to scorching heat, it
retains its adhesive properties without compromise. Moreover, its chemical
resistance makes it a reliable choice for applications involving exposure to
chemicals. Additionally, its transparency ensures unobstructed visibility when
used in clear tapes, allowing for seamless integration. Thanks to its fast
bonding time, it facilitates quick assembly and bonding of materials, providing
efficiency and convenience in various industries.
Application
Insights
The
packaging segment is projected to experience rapid growth during the forecast period.
Packaging tapes are essential tools for logistics and shipping purposes. They
play a crucial role in ensuring that products and parcels are securely bundled
and safeguarded during transit. With their exceptional durability, packaging
tapes can withstand the rigors of transportation, including jostling, stacking,
and exposure to varying temperatures. This makes them indispensable in the
packaging industry.
Not
only are packaging tapes used to wrap and secure items like gifts, packages,
and bundles, but they also provide a neat and secure packaging solution. The
strong adhesive properties of packaging tape allow it to firmly hold different
materials together, ensuring that the contents remain intact throughout the
journey.
In
addition to their primary function, packaging tapes can also be utilized for
temporary repairs of torn paper, cardboard, or plastic items. When packing
fragile items, packaging tape is often used to secure bubble wrap or other
protective materials around them, providing an extra layer of cushioning to
prevent breakage.
With
their versatility and reliability, packaging tapes have become an indispensable
asset for businesses and individuals alike, ensuring that items are delivered
safely and securely to their intended destinations.
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Regional Insights
Asia
Pacific emerged as the dominant player in the Global Adhesive Tape Market in
2022, holding the largest market share in terms of both value and volume. This
trend can be attributed to the growing preference for passenger cars as a means
of comfortable transportation, reducing reliance on public transit. Moreover,
the ongoing investments in infrastructure development, encompassing the
construction of roads, bridges, airports, and buildings, are fueling the
expansion of the market. Additionally, the surge in online shopping activities
among consumers, opting to purchase a wide range of products and services
online, is further bolstering the market growth. Furthermore, the increasing
demand for cost-effective alternatives to traditional fastening and bonding
methods, such as welding or mechanical fasteners, is playing a significant role
in driving the market's upward trajectory.
Recent Developments
- In
2023, Nitto Denko Corporation, a global leader in adhesive tape solutions,
announced the adoption of a new internal system aimed at differentiating their
products. This innovative system focuses on identifying and promoting
eco-friendly options, such as their bio-based adhesive tape with recycled
films. By prioritizing sustainability, Nitto Denko not only contributes to the
environment but also enhances the overall quality of human life. Their
commitment to developing cutting-edge solutions sets them apart in the
industry.
- Tesa
SE, another prominent player in the adhesive tape market, made waves in 2023
with the introduction of their flame-retardant adhesive tapes. Specifically
designed for aircraft floors, these tapes offer secure bonding while ensuring
damage-free removal after use. This breakthrough innovation addresses the
critical need for reliable and safe solutions in the aviation sector, further
establishing Tesa SE as a trusted partner for high-performance adhesive
solutions.
- In
2022, Lintec Corporation, a leading provider of adhesive products, made a
significant investment of 4.5 billion yen in its Agatsuma Plant. This
investment was dedicated to the installation of state-of-the-art production
equipment, specifically designed for manufacturing related tapes crucial to the
semiconductor manufacturing process. By incorporating advanced technology,
Lintec Corporation aims to meet the growing demands of the semiconductor
industry and provide cutting-edge solutions for their customers.
- June
2022 marked a significant milestone for Intertape Polymer Group Inc. as
Clearlake Capital Group, L.P. successfully completed its acquisition of the
company. This strategic move strengthens Intertape Polymer Group's position in
the market and opens up new opportunities for growth and innovation. With the
backing of Clearlake Capital Group, Intertape Polymer Group is well-positioned
to continue delivering high-quality adhesive tape solutions to its customers.
- In
January 2022, tesa S.E. - A Beiersdorf Company, a global leader in adhesive
technology, laid the foundation for a new state-of-the-art plant in the
Vietnamese port city of Haiphong. This ambitious project, with an investment of
EUR 55 million (~USD 65.07 million), aims to meet the increasing demand for
adhesive tape in the Asia-Pacific region. Once completed in 2023, this facility
will have a production capacity of 40 million square meters of adhesive tape
annually, further solidifying tesa S.E.'s commitment to providing innovative
solutions on a global scale.
Key Market Players
- 3M Company
- Berry Global Inc.
- DuPont de Nemours, Inc.
- HB Fuller Company
- Henkel AG & Co. KGaA
- LINTEC Corporation
- Lohmanh GmbH & Co. KG
- NITTO DENKO CORPORATION
- OJI Holdings Corporation
- Sika AG
|
By Resin
|
By Technology
|
By Application
|
By Region
|
- Acrylic
- Rubber
- Silicone
- Others
|
- Water Based
- Solvent Based
- Hot Melt Based
|
- Packaging
- Masking
- Healthcare
- Automotive
- Others
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
|
Report
Scope:In
this report, the Global Adhesive Tape Market has been segmented into the
following categories, in addition to the industry trends which have also been
detailed below:
- Adhesive Tape Market, By Resin:
o Acrylic
o Rubber
o Silicone
o Others
- Adhesive Tape Market, By Technology:
o Water Based
o Solvent Based
o Hot Melt Based
- Adhesive Tape Market, By Application:
o Packaging
o Masking
o Healthcare
o Automotive
o Others
- Adhesive Tape Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
§ Egypt
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global Adhesive Tape Market.
Available
Customizations:
Global
Adhesive Tape Market report with the given market data, TechSci Research
offers customizations according to a company's specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
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Adhesive Tape Market is an upcoming report to be released soon. If you wish an
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