June 07, 2022 06:40 ET | Source: GreyViews GreyViews
Pune India, June 07, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Adhesive Tapes market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Adhesive Tapes market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the product category, application, technology, end-users and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
Global Adhesive Tapes Market Size by Category (Single Sided and Double Sided), Technology (Water-Based, Solvent-Based and Hot-Melt-Based), Resin Type (Silicone, Rubber, Acrylic and Others), Packaging Material (Polyvinyl Chloride, Polypropylene, Paper and Others), End-use (Packaging, Automotive, Pharmaceuticals, Healthcare, Electronics and Electrical, Building and Construction and Others), Regions, Segmentation, and forecast till 2029.
The significant players operating in the global adhesive tapes market are Tesa SE, 3M Company, Lintec Corporation, Nichiban Co. Ltd., CMS Group of Companies, Avery, Nitto Denko Corporation, Intertape Polymer Group, Lohmann GmbH, Berry Global Inc., Scapa Group PLC, Surface Shields and Rogers Corporation and others. To achieve a substantial market share in the worldwide adhesive tapes market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Tesa SE and 3M are one of the most significant manufacturers and distributors present in the global adhesive tapes market.
Instead of utilising screws, fasteners and welding, the adhesive tapes combine a substance and an adhesive sheet to connect or join objects together. Adhesive tapes are made up of a backing or carrier that is coated with adhesive and, if necessary, a release liner. After that, the adhesive-coated carrier or backing is rolled up into a long jumbo roll of tape. Pressure-sensitive, thermally activated, and moisture-activated are all possibilities of using an adhesive tapes. Pressure sensitive adhesives are tacky at room temperature in their dry form. They cling to a wide range of surfaces and can be applied with just a finger or a palm.
The increasing demand for lightweight, high tensile strength, resistant and durable raw material in applications such as automobile, packaging, healthcare, etc. is one of the most promising drivers of the adhesive tapes market. In automotive, the trend of manufacturing of electric vehicles, is one of the most lucrative opportunities for the adhesives tapes market. The automobile production has almost reached production of 80 million units. Till 2030, the EV production is expected to reach upto 125 million. Adhesive tapes are popular material for automotive body, bonnet, exterior and interior films and thus the production of electric vehicles is a boom to the market.
The developing regions are adopting the adhesive tapes for use in different end-users. Mechanical fasteners including rivets, screws, bolts and nuts, etc. The use of adhesive tapes has thus gained popularity among the countries present in both developed and developing regions. Fastening and fixing applications are easier using adhesive tapes. However, the fluctuating in prices of raw materials is a major restraint to the market. Further, various issues regarding the imposition of the stringent regulations is a challenge for the market growth.
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The single sided adhesive tapes segment led the adhesive tapes market with a market share of around 57.10% in 2021.
The category segment includes single sided and double sided. Among these, single sided adhesive tape is the dominating type segment. Thus, it is the most suitable type of adhesive tapes to be used in applications which deals with high temperatures. Single sided adhesive tapes provide multiple solution for gap filling, draught sealing, etc. Single sided adhesive tapes are easier to use as compared to double sided tapes.
The water-based segment led the adhesive tapes market with a market share of around 34.19% in 2021.
The technology segment includes water-based, solvent-based and hot-melt-based. Among these, water-based is the dominating type segment. Water-based technology tapes are used to meet the end application as these are tailored with a range of chemicals. The attributes including precise shear strength, and rapid bond are all features of our water-based adhesives. For specific tapes, these can be tailored with non-transfer, crystal clear, or no-noise technologies.
The acrylic segment led the adhesive tapes market with a market share of around 31.11% in 2021.
The resin type segment includes silicone, rubber, acrylic and others. Out of the end-users, acrylic segment is the most dominating segment. Acrylic adhesive tapes are transparent in nature containing adhesive solution on a side that are stored in form of roll and used to adhere various materials together.
The polyvinyl chloride segment is expected to register highest growth rate.
The packaging material segment includes polyvinyl chloride, polypropylene, paper and others. The polyvinyl chloride segment is expected to register highest growth rate. PVC is a substance used in the production of sticky tapes. After polyethylene and polypropylene, polyvinyl chloride is the third most widely used plastic on the planet.
The automotive segment is expected to register highest growth rate.
The end-use segment includes packaging, automotive, pharmaceuticals, healthcare, electronics and electrical, building and construction and others. Out of all, automotive segment is expected to register highest growth rate. Automotives has huge applications of adhesive tapes in manufacturing of different components. These tapes have efficiently replaced mechanical fasteners in making of the body. The use of such tapes has found to reduce the overall weight of the automotive body.
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Adhesive Tapes include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
Europe region dominated the adhesive tapes market and held the 39.11% share of the market revenue in 2021. The growth of the market in the region can be attributed to various factors, such as presence of many global and regional manufacturers, availability of the required technology and abundance of raw materials. The higher pace of automotive and construction spending has brought tremendous growth in the regional adhesive tapes market. However, North America is projected to register higher growth rate during the forecast period of 2022-2028. The rising investment in automobile industry along with technological developments is the significant factor behind the growing market.
Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. The demand for adhesive tapes has decreased during the period owing to the regulations on social distancing and increasing focus on safety and hygiene. In most of the regions, the manufacturing facilities of adhesive tapes were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for adhesive tapes significantly decreased.
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Global Adhesive Tapes Market Size by Category (Single Sided and Double Sided), Technology (Water-Based, Solvent-Based and Hot-Melt-Based), Resin Type (Silicone, Rubber, Acrylic and Others), Packaging Material (Polyvinyl Chloride, Polypropylene, Paper and Others), End-use (Packaging, Automotive, Pharmaceuticals, Healthcare, Electronics and Electrical, Building and Construction and Others), Regions, Segmentation, and forecast till 2029.
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