May 23, 2024
Adhesive Tapes Market

The Increasing Popularity Of Sustainable Adhesive Solutions Is Anticipated To Open Up The New Avenue For Adhesive Tapes Market

The global Adhesive Tapes Market is estimated to be valued at US$ 54027.73 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview

Adhesive tapes are commonly used in packaging, healthcare, construction, automotive and other industries to bond or join surfaces together. They find extensive applications for sealing, insulation, holding, strapping and for protective or decorative purposes. Major types of adhesive tapes include single-coated adhesive tapes and double-coated adhesive tapes. Single-coated adhesive tapes have adhesive on one side and double-coated have adhesive on both sides.

Market Dynamics

The growing e-commerce industry is a major factor driving growth of the global adhesive tapes market. Adhesive tapes are extensively used for packaging of goods supplied via e-commerce marketplaces. According to India Brand Equity Foundation (IBEF), India’s e-commerce market is expected to reach US$ 200 billion by 2026 from US$ 64 billion in 2020. Rapid urbanization and growing infrastructure development are also fueling demand for adhesive tapes in construction sector. Furthermore, the implementation of regulations promoting use of green adhesive tapes will present significant market opportunities over the forecast period. However, fluctuating raw material prices remain a major challenge for adhesive tape manufacturers.

Segment Analysis

The global adhesive tapes market is segmented based on resin type, technology, backing material, end-use industry angeography. Among resin types, acrylic dominated the market in 2023 and is expected to continue its dominance over the forecast period due to its excellent adhesive properties and high bond strength.

PEST Analysis

Political: Any trade restrictions or bans on raw materials can impact the market. However, there are no significant political risks currently.
Economic: A stable global economy drives growth in end-use industries such as packaging, electronics, construction and automotive, benefiting adhesive tapes demand.
Social: Changing consumer preferences towards sustainable packaging is positively impacting the market.
Technological: Developments in resin and backing material technologies have enhanced adhesive properties and durability of tapes.

Key Takeaways

The global Adhesive Tapes Market Size was valued at US$ 54027.73 Mn in 2023 and is expected to reach US$ 75233.45 Mn by 2030, exhibiting a CAGR of 3.9% over the forecast period. Growth is attributed to rising demand from packaging, construction and automotive industries.

The packaging segment accounted for the largest share of over 34% in 2023 due to extensive usage of tapes in carton sealing, case & carton closing and other packaging applications. The Asia Pacific region dominated with a share of over 38% in 2023 led by China, India and other developing nations experiencing rapid industrialization and infrastructure development.

Key players operating in the adhesive tapes market are 3M, Avery Dennison Corporation, DuPont, HB Fuller Company, Henkel AG & Co. KGaA, Intertape Polymer Group, Lintec Corporation, Nitto Denko Corporation, OJI, Holding Corporation, Scapa Group Plc, Sekisui Chemical Co. Ltd, Shurtape Technologies LLC, Sika AG, and TESA SE.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it