With CAGR of 5.97%, Adhesive Tapes Market Reached to Touch USD 127.50 Billion by 2032 | Industry Size, Share, Global Report, Analysis

The global adhesive tapes market was valued at USD 76.19 billion in 2023. The market is projected to grow from USD 80.20 billion in 2024 to USD 127.50 billion by 2032, exhibiting a CAGR of 5.97% during the forecast period. Asia Pacific dominated the adhesive tape market with a market share of 35.06% in 2023.

Adhesive tapes are flexible materials having three main elements, namely, a release liner, a backing material, and an adhesive layer. The growing demand for sustainable tapes is accelerating market growth. Substitutes obtained from renewable resources, including bio-based adhesives and backing materials derived from recycled materials or plant fibers are being explored by tape manufacturers.

In 2019, the COVID-19 pandemic led to an adverse influence on the market attributed to the slowdown of operations by the significant end-use industries of tapes, such as electric & electronics, building & construction, and automotive. However, in late 2020, the economy witnessed a revival, which started the recovery of the market with a considerable growth rate.

Fortune Business Insights™ provides this information in its research report, titled "Adhesive Tapes Market Size, Share, Global Report, Analysis, 2024-2032".

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Competitive Landscape:

Prominent Companies Focus on Acquiring Certification for Their Products to Strengthen Their Position

Sika AG, Avery Dennison Corporation, Scapa, Henkel AG, Saint-Gobain, certoplast Technische Klebebänder GmbH, and Coroplast Tape Corporation are some of the leading companies in the market. Most companies are emphasizing the creation of sustainable products to attract environmentally conscious consumers while achieving a competitive edge. A wide array of companies are focusing on acquiring certifications for their products to boost their position.

Key Industry Development:

May 2023: The Nitto Group unveiled the certification of bio-based adhesive tape. Moreover, these tapes lead to resource recycling with bio-based adhesive and recycled film. The company also declared the certification of five new products.

List of Key Players Mentioned in the Report:

Tesa SE (Germany)
3M Company(S.)
Arkema S.A.(France)
Nitto Denko Corporation(Japan)
Avery Dennison Corporation(S.)
Sika AG (Switzerland)
Saint-Gobain(France)
LINTEC Corporation (Japan)
Scapa (K.)
Henkel AG(Germany)
Coroplast Tape Corporation (Germany)
certoplast Technische Klebebänder GmbH (Germany)
Adhesive Tapes Market Segmentation Analysis:

Cost-effective Feature of Polyvinyl Chloride to Fuel Segment Growth

By material, the market is segregated into PP, polytetrafluoroethylene, polyvinyl chloride, PET, paper, and others. The polyvinyl chloride segment registered the largest share in 2023. Polyvinyl chloride tapes have a cost-effective nature, which is driving the segment expansion.

Electric & Electronics Segment Secures Key Share Owing to Product's High Demand in Tech Gadgets

In terms of end-use industry, the market is divided into medical, building & construction, automotive, electric & electronics, and others. With escalating demand from home appliances and electric gadgets for adhesive tapes, the electric & electronics segment held optimum market share in 2023.

Regionally, the market is classified into the Middle East & Africa, Latin America, North America, Asia Pacific, and Europe.

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Report Coverage

The competitive strategies adopted by leading companies to capture the largest share have been mentioned in the report. Besides this, the report provides vital insights into the major factors impacting the market. It also highlights the latest trends, the COVID-19 pandemic impact, notable industry developments, and restraining factors expected to hinder the market growth during the forecast period.

Drivers and Restraints:

Growing Demand from Expanding E-commerce Business to Expedite Market Growth

The adhesive tapes market growth is driven by a rise in the demand from the growing e-commerce business. Businesses encounter the issue of packaging products for shipping securely due to the inclination toward the convenience of online shopping by consumers. As a result, the growth in e-commerce activity has resulted in a substantial rise in the demand for packaging materials, such as adhesive tapes, which have a vital role in sealing parcels, envelopes, and corrugated boxes for the safe delivery of items to customers.

Despite such growth opportunities, the dynamic prices of raw materials may hinder market expansion.

Regional Adhesive Tapes Market Insights:

Asia Pacific Commands Market Due to the Growing Industrialization

Asia Pacific accounted for the largest adhesive tapes market share in 2023. The region is also poised to expand at the highest CAGR during the forecast period. This is on the back of growing demand from emerging nations, such as China and India, infrastructure development, and rising industrialization.

Europe market for adhesive tapes is expanding at a considerable rate owing to the growing demand from different industries, such as packaging, medical, electronics, and automotive.

𝑹𝒆𝒂𝒅 𝑴𝒐𝒓𝒆 𝑰𝒏𝒇𝒐𝒓𝒎𝒂𝒕𝒊𝒐𝒏 - https://www.fortunebusinessinsights.com/adhesive-tape-market-102722

Detailed Table of Content Research Report, 2024-2032
1 Adhesive Tapes Market Overview

2 Market Upstream and Downstream Analysis

3 Players Profiles

5 Global Sales, Revenue, Price Trend by Type

6 Global Adhesive Tapes Market Analysis by Application

7 Global Market Sales and Revenue Region Wise (2017-2022)

8 Global Market Forecast (2024-2032)

9 Industry Outlook

10 Research Findings and Conclusion

11 Appendix

Continued…

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This release was published on openPR.