ADHESIVE TAPES MARKET
GMI Research anticipates that the Adhesive Tapes Market to witness a significant Compound Annual Growth Rate over the forecast period (2020-2027).
The factors driving the growth of adhesive tapes market include increasing application of adhesive tapes in packaging and medical industries and growing consumers inclination towards using adhesive clips over stitches. In addition, the increasing use of adhesive tapes in automotive and healthcare industry, is accelerating the growth of Global Adhesive Tapes Market. As per the report published by EIU, New car sales would increase by 15% in 2021 and the commercial vehicle sales is expected to increase by 16%, which will increase the Adhesive Tapes Market size in the coming years. The growing investments in Research and Development by the leading players to provide weather resistance features to adhesive tapes along with increasing use of Adhesive Tapes in construction activities, is boosting the market growth.
Some of the prominent players operating in the market are Lohmann GmbH & Co.KG, Rogers Corporation, AVERY DENNISON CORPORATION, NITTO DENKO CORPORATION, Tesa Tapes Private Limited, Scapa Group plc, Berry Global Inc., 3M, Intertape Polymer Group, LINTEC Corporation among others.
Technology – Segment Analysis
Based on the technology, the water-based segment is expected to grow at a faster CAGR over the forecast period due its increasing use in building and construction, primarily for new infrastructure projects. Moreover, its rising use in packaging industry along with environment friendly properties are boosting the demand for water-based adhesive tapes in the international markets.
End-Use Industry – Segment Analysis
Based on the end-use industry, the healthcare segment is projected to grow at a higher CAGR during the forecast period owing to its wide range of applications in the healthcare industry. Moreover, increasing use of adhesive tapes in healing wounds, appears to be a major factor for propelling the healthcare segment.
Region – Segment Analysis
Based on the region, the Asia-Pacific region is expected to grow at a higher CAGR over the forecast period. The increasing infrastructure projects and high demand for adhesive tapes in the healthcare sector followed by rapid urbanization and increasing population growth are boosting the growth of Adhesive Tapes Market in the region. As per the report published by IBEF, the passenger vehicles sales increased by 26.6% in 2021 to reach 3.08 million units, as compared to 2.43 million units in CY20, 677,119 commercial cars were sold in 2021, which will increase the Adhesive Tapes Market share in the region.
Market Segmentation
Global Adhesive Tapes Market by Resin Type
• Acrylic-Based Adhesive Tapes
• Rubber-Based Adhesive Tapes
• Silicone-Based Adhesive Tapes
• Other Adhesive Tapes
Global Adhesive Tapes Market by Technology
• Water-Based
• Solvent-Based
• Hot-Melt Based
Global Adhesive Tapes Market by End-Use Industry
• Packaging
• Electrical & Electronics
• Healthcare
• Automotive
• Building & Construction
• Retail
• Others
Global Adhesive Tapes Market by Region
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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