by The adhesive tapes market constitutes pressure-sensitive tapes that are used for binding, sealing, masking, and sound and thermal insulation across various end-use industries such as packaging, healthcare, automotive, and general use. Adhesive tapes offer advantages such as convenient application, easy removal without leaving residue or damaging the surface, and providing instant adhesion that makes them ideal for masking, sealing, and binding applications. The growing infrastructural and construction activities globally are fuelling the demand for adhesive tapes for packaging, finishing, and mounting applications.
The Global adhesive tapes market is estimated to be valued at US$ 62239.95 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 To 2031.
Key Takeaways
The rising e-commerce sector is creating significant opportunities for Adhesive Tapes Market Size manufacturers. Adhesive tapes find extensive usage in packaging of goods sold via online retail platforms. Growth in the e-commerce industry is expected to augment the demand for adhesive tapes during the forecast period.
Asia Pacific accounts for a majority share in the global adhesive tapes market owing to the large consumer base and rapid industrialization in countries such as China and India. Leading manufacturers are focusing their efforts on capitalizing untapped opportunities in developing regions through Joint ventures/partnerships with local players.
Key players operating in the Adhesive Tapes Market Sizeare Swiggy, Zomato, Deliveroo, Uber Eats, DoorDash, Grubhub, Just Eat Takeaway.com, Gojek, Grab, Foodpanda. These players are focusing on expanding their product portfolio and geographical reach through mergers and acquisitions.
Market Drivers
The major driver propelling the growth of Adhesive Tapes Market is the rising infrastructural and construction activities globally. Adhesive tapes find widespread application in construction for mounting purposes, finishing, flooring, and packaging of construction materials. Rapid urbanization coupled with rising consumer disposable incomes is fueling residential and commercial construction which in turn is driving the demand for adhesive tapes.
PEST Analysis
Political: The rules and regulations related to the use of raw materials used in adhesive tapes are explained. Any changes in such policies can impact the market.
Economic: The overall economic growth of a region influences the demand. A strong economy favors market growth while recession impacts negatively.
Social: Changing lifestyles and behaviors impact preferences. Growing do-it-yourself culture increases demand for adhesive tapes from households.
Technological: Developments in adhesive formulations and backing materials enhance functionality. Digitization allows easier access to products online.
Geographical regions with high concentration
The areas with well-established industries favor greater adoption of adhesive tapes for various applications. Developed markets in North America and Europe currently account for over fifty percent of the global market in terms of value. China, as a major manufacturing hub, also has a substantial demand.
Fastest growing region
The Asia Pacific region is poised to witness the fastest growth over the forecast period. This can be attributed to the rapid industrialization and expanding construction activities across developing economies such as India. Additionally, growing population and rising disposable incomes are fueling the demand from consumer products segment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
