Adhesive Tapes Market Size in 2023 To 2029 | 3M Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), LINTEC Corporation (Japan), Intertape Polymer Group (Canada).

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

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The key companies profiled in this report are 3M Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), LINTEC Corporation (Japan), Intertape Polymer Group (Canada).

"The adhesive tapes market is projected to register a CAGR of 5.6% between 2023 and 2028, in terms of volume."

The adhesive tapes market size is projected to reach USD 110.6 billion by 2028 at a CAGR of 5.6% from USD 80.2 billion in 2022. The Acrylic, by resin type segment is estimated to account for the largest share of the adhesive tapes market in 2022.

"Acrylic, by resin type likely to account for the largest share of adhesive tapes market."

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..

"Hot-melt, technology accounted for the largest segment of adhesive tapes market."

The hot-melt technology is the fastest-growing technology segment in the overall market during the forecast period. The Hot-melt are thermoplastic polymer-based adhesives that are 100% solid. They are used in a molten state, and solidify after cooling.

Due to their quick setting time, relative low cost (both in terms of materials and processing), and minimal environmental impact, hot-melt based adhesives are in high demand. Additionally, the wide formulation latitude of hot-melt-based adhesive systems makes it possible to produce a variety of solutions for different end uses and substrates. The major attraction of these tapes is their extraordinarily quick bond formation rate, which translates to high production rates.

"Polypropylene (PP)-backed, by backing material accounted for the largest segment of adhesive tapes market."

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, by category accounted for the largest segment of adhesive tapes market."

Commodity adhesive tapes accounted for a highest 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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"Asia Pacific, by region is forecasted to be the largest segment of adhesive tapes market during the forecast period."

The Asia Pacific is the largest adhesive tapes market in 2022 and is projected to be the fastest-growing market during the forecast period. The last decade have seen significant economic growth in the region. As of 2018, the population of the region's fastest-growing consumer nations, China and India, was over XX billion, according to the Population Reference Bureau. With rapidly growing income and the fastest-growing middle class population, this is expected to become an increasingly important driver for a various global end-use industries, including electrical & electronics, packaging, healthcare, and automotive..

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This release was published on openPR.