Structural Adhesive Tapes Market worth $13.0 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 22, 2023 /PRNewswire/ -- The report "Structural Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Backing Material, End-Use Industry (Automotive, Healthcare, Electronics & Electrical, Renewable Energy, E-Mobility, Building & Construction), & Region - Global Forecast to 2028", is growing at a high rate due to the increased demand from various industries. The global structural adhesive tapes market size was USD 10.3 billion in 2022 and is projected to reach USD 13.0 billion by 2028, at a CAGR of 4.1% between 2023 and 2028. Asia Pacific has been the most favourable destination for the manufacturers of structural adhesive tapes, even during the global economic slowdown. Environmental and health & safety regulations drive the use of structural adhesive tapes in the electrical & electronics, healthcare, automotive, and other industries in the region.

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Structural adhesive tapes are used in electrical & electronics, healthcare, automotive, renewable energy, e-mobility, building & construction, and others. The trend toward using flatter and microelectronic devices continues, increasing the application of structural adhesive tapes in the electrical & electronics industry. Similarly, the structural adhesive tapes market in the healthcare industry is expected to register the highest growth rate during the forecast period. This growth is attributed to the rise in the aging population and growing chronic diseases. In addition, the demand for in-vitro diagnostics, hydrophilic films, transdermal drug delivery patches, and oral dissolvable films are driving the market in the healthcare industry. Building & construction is also one of the growing end-use industries of structural adhesive tapes in regions such as Asia Pacific, South America, and the Middle East. These tapes are used for HVAC, glazing, abatement, and insulation.

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Acrylic segment is expected to hold largest share of the structural adhesive tapes market during the forecasted period.

Acrylic-based tapes are highly demanded due to their advantageous physical & chemical properties, lower cost, and applications in several industries such as automotive, construction, and healthcare. Acrylic structural adhesive tapes are suitable in solvent- and water-based technologies because they offer higher resistance to other solvents, chemicals, and water. Water-based acrylic adhesives are the least expensive among all the resins used in the structural adhesive tapes industry.

PVC backing material segment hold the largest segment in overall structural adhesive tapes market during forecast period.

The PVC backing material is the largest segment in the overall structural adhesive tapes market. PVC (polyvinyl chloride) is a long-lasting and robust building material. It is widely used across several industrial applications due to its physicochemical properties such as great conformability, no flagging, superb elasticity, non-sticky sides, UV resistance and weather ability, good moisture and chemical resistance, flame retardance (self-extinguishing), and good sealing characteristics. PVC tapes are non-corrosive and resistant to humidity and UV rays. They are inherently flame retardant and have electrical insulation properties due to the nature of the polymer. PVC tapes are ideal for cable insulation & marking and meet international safety standards.

E-mobility is the fastest-growing end-use industry of the global structural adhesive tapes market during forecasted period.

Structural adhesive tapes are utilized in the eMobility/EV battery industry for various applications, including electrical insulation to prevent power surges and fires in EV batteries. It is also used for efficient thermal management in LED lighting, EV cooling systems, PCB, and heat sinks in automobiles. The major applications of structural adhesive tapes in EV batteries include bonding solutions, thermal runaway protection, cell-to-cell bonding, and compression pads. These tapes are used owing to their properties, such as flame retardance and dielectric strength.

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Asia Pacific region likely to account the largest share of the global structural adhesive tapes market during forecasted period.

Asia Pacific is one of the largest structural adhesive tapes markets, in terms of both value and volume, and is projected to grow significantly during the forecast period. The economic growth in the region has increased over the last decade. According to the Population Reference Bureau, the fastest-growing consumer countries such as China and India had a combined population exceeding 2.8 billion (as of 2019). This is projected to become an increasingly important driver for the global end-use industries such as electrical & electronics, healthcare, and automotive, led by the rapidly rising household income and the fast-growing middle-class population.

Market Players :

The key market players in structural adhesive tapes market are 3M Company (US), Avery Dennison Corporation (US), Nitto Denko Corporation (Japan), tesa SE (Germany), and Lintec Corporation (Japan).

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Medical Adhesive Tapes Market - Global Forecast To 2026

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