Adhesive Tapes Market size is set to grow by USD 23.89 billion from 2024-2028, Increasing demand from end-user industries boost the market, Technavio

NEW YORK, June 7, 2024 /PRNewswire/ -- The global adhesive tapes market size is estimated to grow by USD 23.89 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.23%  during the forecast period. Increasing demand from end-user industries is driving market growth, with a trend towards increased demand for eco-friendly products. However, volatility in raw material prices  poses a challenge. Key market players include 3M Co., Adhesives Research Inc., Advance Tapes International Ltd., American Biltrite Inc., Avery Dennison Corp., Beiersdorf AG, Berry Global Inc., Can Do National Tape, Coating and Converting Technologies Inc., Compagnie de Saint Gobain, Dow Chemical Co., GERGONNE INDUSTRIE, H.B. Fuller Co., Henkel AG and Co. KGaA, Intertape Polymer Group Inc., LINTEC Corp., Lohmann GmbH and Co.KG, Mativ Holdings Inc., Nitto Denko Corp., and Shurtape Technologies LLC.

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Market Driver

The adhesive tapes market is witnessing a significant shift towards eco-friendly options due to increasing environmental concerns. These tapes, also known as green adhesive tapes, are made from recycled and biodegradable materials and do not contain harmful chemicals.

Major players like 3M and Tesa offer a range of eco-friendly tapes for various applications, such as Scotch Magic Eco-Friendly Tape and Tesa's ecoLogo range. The use of bio-based raw materials is a positive trend in the market, expected to grow during the forecast period. 

The adhesive tapes market is currently experiencing significant growth, driven by various sectors. Base materials used include paper, cloth, and rubber. Applications span from packaging and labeling to automotive and construction. Consumers seek products with strong adhesion, durability, and ease of use. New technologies, such as pressure-sensitive and double-sided tapes, are trending.

Additionally, eco-friendly options, like biodegradable and recycled tapes, are gaining popularity. Producers focus on cost-effective manufacturing and innovation to meet market demands. Overall, the adhesive tapes industry is thriving, offering numerous opportunities for businesses. 

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Market Challenges

•         The global adhesive tapes market faces challenges from volatile raw material prices, particularly those of paper, polymer films, and petroleum-derivatives. Crude oil prices significantly impact these materials' costs. In 2021, a 17% increase in crude oil prices led manufacturers to raise their product prices, increasing production costs and affecting vendors' profit margins. This uncertainty negatively impacts the adhesive tapes market's growth during the forecast period.

•         The Adhesive Tapes Market faces several challenges in the industry. Raw materials, such as rubber and acrylic, are essential for tape production. However, their availability and pricing can impact the market. Additionally, the production process requires precision and uniformity to ensure the tape's effectiveness. Meeting these requirements can be a challenge for manufacturers.

•         Furthermore, the market is competitive, with numerous players vying for market share. Pricing and product differentiation are key factors in this competition. Lastly, sustainability is becoming a significant concern, with consumers and regulators demanding eco-friendly alternatives. Meeting these demands while maintaining profitability is a significant challenge for market participants.

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Segment Overview 

1. Material 
• 1.1 Polypropylene
• 1.2 Paper
• 1.3 Polyvinyl chloride
• 1.4 Others
2. End-user 
• 2.1 Automotive
• 2.2 Healthcare
• 2.3 Packaging
• 2.4 Others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Polypropylene-  The Adhesive Tapes Market is a significant business sector, with various types of tapes catering to diverse industries. These tapes include masking, duct, double-sided, and specialty tapes. Companies manufacture and distribute these products globally, meeting the demand for reliable bonding solutions. Market growth is driven by increasing industrialization and construction activities. Adhesive tapes offer convenience, efficiency, and versatility, making them essential in numerous applications.

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Research Analysis

The Adhesive Tapes Market is expected to experience significant shifts in the next ten years, particularly in the Specialty and Commodity categories. New markets in emerging economies, such as those with increasing per capita income and improving standards of living, will provide opportunities for growth.

Brands owners and retail sectors will continue to drive demand for masking, consumer and office, electrical and electronics, healthcare, white goods, paper and printing, and building and construction tapes. Substrate preferences will also influence market trends, with pressure-sensitive adhesives remaining popular due to their ease of use and versatility. The market is expected to face pressures from raw material costs and increasing competition, but overall growth is anticipated.

The Adhesive Tapes Market encompasses a diverse range of products used for bonding and securing various materials. These tapes come in different materials, sizes, and adhesives to cater to various industries and applications. The market is driven by factors such as increasing industrialization, growing demand for automation, and the need for efficient and cost-effective solutions.

The market also witnesses continuous innovation, with new product developments and technological advancements. Adhesive tapes find extensive use in sectors like automotive, construction, healthcare, electronics, and packaging. The market is expected to grow significantly in the coming years due to these factors and the increasing demand for high-performance and specialty tapes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Material
• Polypropylene
• Paper
• Polyvinyl Chloride
• Others
• End-user
• Automotive
• Healthcare
• Packaging
• Others
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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