According to a market research report, the “Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Technology (Solvent, Hot-melt, Water-based), Backing Material (PP, Paper, PVC), End-use Industry (Packaging, Healthcare, E&E, Automotive) and Region – Global Forecast to 2028”, size was USD 80.2 billion in 2022 and is projected to reach USD 110.7 billion by 2028, at a CAGR of 5.6% between 2022 and 2028. The global adhesive tapes market is growing at a high rate due to the increased demand from various sectors. The Asia Pacific accounted for the major share of the overall market in 2022. This is attributed to infrastructural developments in the region. The markets in Europe and North America are also expected to grow in the coming years. Growth of the electrical & electronics, automotive, and healthcare industries are propelling the global adhesive tapes market. On the other hand, stringent policies on VOC emissions are projected to hinder the development of the market in these regions.
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This report also provides a comprehensive analysis of the companies listed below:
The major Players in adhesive tapes market include 3M Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), LINTEC Corporation (Japan), Intertape Polymer Group (Canada). The companies are majorly following product launch, merger & acquisition, and expansion as the strategy to grow and expand the market.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the adhesive tapes market.
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The 3M Company offers a broad range of products including adhesives, bonding materials, coatings, and specialty materials. The company operates through four business segments, namely, Safety & Industrial, Transportation & Electronics, Healthcare, and Consumer. Through the Industrial segment, 3M offers a comprehensive range of adhesive tapes to meet the challenges in the appliances, aerospace, automotive, construction, MRO, electronics, commercial, transportation, and marine industries. Along with the Specialty Six (Foil Tape, Vinyl Tape, Glass Cloth Tape, Polyester Tape, PTFE Tape, and UHMW Tape), the company has an extensive portfolio of options for every application. 3M manufactures more than 60,000 products which are used in different industries, homes, institutions, and businesses. It has 89 manufacturing and converting facilities in 30 countries.
Tesa SE is one of the leading manufacturers of adhesive tapes and self-adhesive system solutions for industry retailers and consumers. It operates through two business segments: Direct Industries and Trade Markets. The Direct Industries segment caters to various end-use industries such as automotive, electronics (mobile phones and laptops), paper & printing, and building & construction. The Trade Markets segment is further divided into two segments: General Industrial Markets (adhesive solutions for packaging and tapes required during transportation, assembling, and repairing products) and Consumer & Craftsmen (product solutions required for daily use in homes, offices, and crafts). The company sells more than 7,000 products in 100+ countries and has 14 production sites globally.
The acrylic resin has a high demand owing to its beneficial chemical and physical properties, low cost, and applications in several end-use industries such as healthcare, transportation, and packaging. These acrylic adhesive tapes can be used in water-based and solvent-based technologies due to its high resistance to other solvents, water, and chemicals. Water-based acrylic adhesives are the cheapest as compared to all other resins used in the adhesive tapes industry.
The hot-melt technology is the fastest-growing segment in the overall adhesive tape. With the structural level bond developing over time as the adhesive cures via atmospheric moisture, the hot-melt based technique offers processing advantages such near quick fastening. Many different sectors use hot-melt technology for a variety of purposes. The major consumer of hot-melt-based adhesive technology is the electrical and electronics sector, where adhesive tapes are used to bond coil winds and coil ends. The automotive sector also uses hot-melt based adhesive tapes for wheel covers, headlight coverings, and the attachment of insulating and cushioning materials to metal frames.
Polypropylene-backed adhesive tapes are recyclable, flexible, water & abrasion-resistant, and strong. These tapes accommodate both smooth and irregular surfaces effectively. PP adhesive tapes comes with or without adhesives. It is also referred to as mono-axial-oriented polypropylene (MOPP) film, biaxially oriented polypropylene (BOPP) film, , fiberglass-reinforced filament polypropylene film, and tensilized polypropylene (TPP) film. Based on the chemistry, PP adhesive tapes are usually used for electrical insulation applications. These tapes cannot be printed with ink or made wet by adhesives due to their low hydrophilicity.
Commodity adhesive tapes accounted for a higher share of the overall adhesive tapes market, in terms of volume, in 2022. High demand for commodity tapes is from the continuously growing retail and packaging industry. These tapes are also used to pack goods for shipments in bulk quantities hence trending e-commerce industry is also boosting the commodity adhesive tapes. Moreover, the rising number of SMEs are likely to lead to an growing demand for office supplies, which will ultimately increase demand for these tapes.
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