Adhesive Tapes Global Market Report 2021: COVID-19 Growth And Change

Adhesive Tapes Global Market Report 2021: COVID-19 Growth And Change

  • July 2021 •
  • 175 pages •
  • Report ID: 6103740 •
  • Format: PDF
Major players in the adhesive tapes market are 3M, Nitto Denko Corporation, Tesa SE, Lintec Corporation, Avery Dennison Corporation, Intertape Polymer Group Inc, Henkel AG, Lohmann GmbH & Co., Scapa Group PLC, DuPont de Nemours Inc., H.B. Fuller Company, Shurtape Technologies LLC, Nichiban Co. Ltd., Advance Tapes International LTD, Ajit Industries Pvt. Ltd, Sekisui Chemical Co. Ltd, American Biltrite, Canadian Technical Tape Ltd, Berry Global Inc, Dewal Industries Inc, Industrias Tuk, Saint Gobain, CMS Group of Companies, and RPM International.

The global adhesive tapes market is expected to grow from $57.04 billion in 2020 to $61.01 billion in 2021 at a compound annual growth rate (CAGR) of 6.96%.The growth is mainly due to the increased demand for adhesive tapes from end-users like healthcare, electrical & electronics, and automotive industries. The market is expected to reach $79.83 billion in 2025 at a CAGR of 7.0%.

The adhesive tapes market consists of sales of adhesive tapes by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling the adhesive tapes.Adhesive tapes are a combination of a material and an adhesive layer that can be used to join two objects or materials together.

It consists of a pressure-sensitive adhesive, which is coated onto a backing material like paper, plastic film, cloth, or metal foil and has removable release liners protecting the adhesive before usage.

The main types of resins used for manufacturing adhesive tapes are acrylic, rubber, silicone, others.The various types of material used include polypropylene (PP), paper, polyvinyl chloride (PVC), others.

The technologies for production consists of solvent-based, hot-melt based, water-based. Adhesive tapes are used in various sectors including packaging, consumer and office, healthcare, automotive, electrical and electronics, building and construction, others.

Asia Pacific was the largest region in the adhesive tapes market in 2020.The region is predicted to record fastest growth over the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Adhesive products are potentially hazardous during the manufacturing stages, which negatively impacted the growth of the adhesive tapes market in the historic period.This is mainly because the manufacturing processes involves high temperatures and high-pressure reactions which can be dangerous unless controlled carefully.

Due to this, regulations in the adhesives industry – in assessing and managing the risks involved in the manufacturing, transporting and disposing of chemicals – increased in the historic period.Adhesives have to be compliant with complex regulations that govern labeling, handling, manufacturing, and shipping and storage of the product.

Additional compliance costs due to changing regulations, as different countries and geographies have different regulations, was a major restraint for adhesive tape companies.

In March 2021, ATP Adhesive Systems Group, a Switzerland-based company engaged in developing and manufacturing client-specific adhesive products announced the acquisition of BDK Industrial Products Ltd. for an undisclosed amount. The acquisition is expected to improve the market position of both the companies and helps them to provide a broader variety of customized products such as Medical adhesive tapes and customized adhesive tapes to their clients. BDK Industrial Products Ltd. is a UK-based specialized adhesive tape converter that has developed itself as a solution provider for healthcare and other industry customers.

The growth of the automotive industry and the rapid rise in demand for adhesive tapes from the automotive sector worldwide are expected to propel the adhesive tapes market during the forecast period.Adhesive tapes are lightweight, compact, and smooth, making them ideal for use in car interiors for bonding of electronic products, parking sensor retainers, door cladding, spoiler and seals among others.

The global passenger car market is expected to increase from $1321.7 billion in 2020 to $1988.7 billion by 2025. Due to an increased affinity for lightweight, metal fasteners are increasingly being replaced in cars with adhesive tapes, thus, the increased production of automobiles will lead to a rise in the demand for adhesive tapes and boost their sales.

The launch of eco-friendly tapes is a key trend in the adhesive tapes market.Several countries around the world have banned the use of toxic materials used in the manufacture of adhesive goods.

Increased demand for recyclable tapes has been driven by federal policies as well as a change in end-user emphasis toward environmentally sustainable goods.Many companies are shifting from plastic to bio-degradable materials like paper and cellulose for manufacturing tapes.

In January 2020, Monta, a German-based manufacturer of self-adhesive tapes for packaging and consumer use, has introduced Monta Biopack, a modern self-adhesive tape.Monta Biopack is made up of about 90% renewable materials.

This environmentally friendly adhesive tape biodegrades in a matter of months, closing the natural recycle circle. In another instance, in January 2021, Italy based IRPLAST launched its ECO+ tape which is made of 34% post-industrial recycled IRPLAST BOPP film. The cores are made from recycled cardboard and the tape reduces emissions with no loss in adhesion quality.

The countries covered in the adhesive tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.