ADHESIVE TAPES MARKET – GROWTH, TRENDS, AND FORECAST (2019 – 2024)
The Adhesives Tapes Market is Segmented by Technology (Water-based, Solvent-based, Hot-melt, Reactive, and Other Technologies), by End User (Automotive, Health Care, Packaging, Appliances, and Other End Users ), by Resin (Acrylic, Epoxy, Rubber-based, Silicone, Polyurethane, and Other Resins), and Geography
The market for adhesive tapes is expected to grow at a CAGR of over 5% during the forecast period 2019-2024. Major factors driving the market studied are the growing demand from lightweight automotive vehicles and increasing demand from the packaging and medical industries.
in 2018, the packaging industry dominated the adhesive tapes market by adding value to various manufacturing sectors, including agriculture, pharma, retail, FMCG, etc.
Usage of adhesive clips as an alternative to stitches is likely to act as an opportunity in the future
Asia-Pacific dominated the adhesive tape market across the world with the most significant consumption from countries, such as China and India.
Key Market Trends
Automotive Industry Dominated Consumption of Adhesive Tapes
Adhesive tape is a combination of a material and an adhesive film, which is used to bond or join objects together instead of using fasteners, screws, or welding. Adhesive tapes enable its use at room temperature and can protect the surface area.
Weight reduction has become an essential part of vehicle design with increasing consumer and government calls for lower carbon emissions, enhanced passenger comfort, passenger safety, and improved performance.
The development of smaller and more efficient power systems is important on the need for lighter and more efficient designs.
Automotive adhesive tapes or BOPP Jumbo Roll or Stationery Tape are designed to withstand varied environmental conditions, including moisture, salt spray, temperature variances, and UV radiation.
There has been a significant reduction in the amount of noise inside the vehicle, due to the advanced properties of adhesives tapes, such as its acoustic insulating properties and vibration absorption.
Pressure sensitive adhesive (PSA) tapes are highly used in specialist vehicle and transportation systems to bond the outer vehicle skin to the supporting structure.
Hence, with the rapid increase in demand from the automotive segment across the world, the market for adhesive tapes is expected to rapidly increase over the forecast period.