The Global Adhesive Tapes Market was valued at USD 58.3 billion in 2019, and it is estimated to reach USD 85.9 billion by 2026, at a CAGR of 5.7 %, over the forecast period.
Innovations, research and related progressive activities have led to the expansion of its usage and usage-categories. The advancement assures the growth of the market at an extraordinary pace. The new trend of replacing bolts, screws, rivets, and other attaching or fastening techniques with adhesives has accelerated the growth of the adhesives market globally. Apart from this, the new and rising demand for lightweight vehicles is reassuring the development of the adhesive market.
The widespread practice of adhesive tapes usage in various industries such as automotive and food and beverage is an essential factor driving the market. Automotive manufacturers are progressively accepting adhesive tapes in place of mechanical fasteners such as bolts and screws to decrease the vehicles' weight and provide better fuel efficiency. The growth of the healthcare sector is another factor backing market growth. Adhesive tapes are majorly used for wound care, assembly of medical devices, attributing electrodes on the skin, and fixing cover shields during surgeries. Besides, skin-friendly adhesive tapes are extensively utilized for the manufacturing of infant and adult diapers.
The Asia Pacific is anticipated to produce adhesive tapes with an encouraging rate in the coming years due to the growth in technology. Furthermore, raw materials are readily available in the Asia Pacific, and the manufacturing infrastructure is developing to support the units within the right time. The Middle East & Africa is also a promising and prominent market for adhesive tapes and, this is due to the substantial rise in commercial & substructure activities and current low market saturation in the region.
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APAC is the primary adhesive tapes market and is estimated to be the fastest-growing market during the forecast period. The region is observing strong growth due to ongoing R & D and other related progressions in healthcare, electrical & electronics, and automotive industries. The adhesive tapes market in developing economies such as South Africa, China, India, Brazil, and Indonesia, is expected to witness significant development. In contrast, more advanced markets such as the US, Germany, Japan, and the UK, will notice stagnancy or slow growth during the prediction period. China is expected to be the major contributor, mostly led by the high demand from heavy industries and consumer goods manufacturing section.
Scope of the Report
Based on resin type
Ø Acrylic
Ø Rubber
Ø Silicone
Based on the backing material
Ø Polypropylene (PP)
Ø Paper
Ø Polyvinyl Chloride (PVC)
Based on technology
Ø Solvent-based
Ø Hot-Melt based
Based on category
Ø Commodity Adhesive Tapes
Ø Specialty Adhesive Tapes
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