Adhesive Tapes Market worth $110.6 billion by 2028 | Key players 3M Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), LINTEC Corporation (Japan).

According to recent market research 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", is growing at a high rate due to the increased demand from various sectors. The global adhesive tapes market size was USD 80.2 billion in 2022 and is projected to reach USD 110.6 billion by 2028, at a CAGR of 5.6% between 2023 and 2028. 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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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.

Acrylic-based adhesive tapes are designed with high shear strength. These tapes are permeable to moisture (measured by the moisture vapor transmission rate). The transmission of moisture depends upon the thickness of the adhesive coating and the adhesive formulation. Acrylic-based adhesive tapes are firmer and more durable than rubber-based adhesive tapes. The properties of acrylics are fast curing time; excellent resistance to oxidation, temperature, and UV radiation; color stability; exceptional anti-aging properties; good balance of adhesion and cohesion; excellent water resistance; and high peel, tack, and shear strength. Acrylic-based adhesive tapes have high demand despite higher costs than rubber-based adhesive tapes due to the above-mentioned properties. Acrylic-based adhesive tapes are widely used in the healthcare and automotive industries owing to their properties of excellent adhesion.
The demand for acrylic-based adhesive tapes is increasing majorly in the Asia Pacific region because of the growing electrical & electronics, healthcare, and automotive industries. The properties of acrylic-based adhesive tapes lead to high demand in North America and Europe, where environmental regulations regarding solvent-based technology are stringent. The prices of acrylic-based adhesive tapes are also comparatively lower than those of other types.

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The Asia Pacific is the largest adhesive tapes market, in terms of both, value and volume, and is projected to be the fastest-growing market during the forecast period. The past decade has 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 industry, including electrical & electronics, packaging, healthcare, and automotive.

The key players following the strategies between 2018 to 2022 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.

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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.

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