Adhesive Tapes Market

The global adhesive tapes market was valued at USD 62.6 billion in 2019 and is projected to reach USD 85,042 million by the end of 2025, at a CAGR of 5.2% during the forecast period. In terms of volume, the market was pegged at 33,324 million square meters in 2019, and the demand is projected to reach 41,346 million square meters by the end of 2025.The prominent factor driving the growth of the global adhesive tapes market is an increase in the consumption of adhesive tapes in the automotive and healthcare sectors. Adhesive tapes offer excellent compatibility with a variety of substrates, such as metals, polymers, and textiles, which makes it an ideal product for diverse end-use industries. Moreover, socio-economic developments such as a rise in disposable income, an increase in the middle-income population, and increased healthcare spending are further boosting the growth of the global market. Furthermore, the emergence of new application areas such as packaging and consumer electronics is likely to propel the growth of the market in the future. However, the pandemic situation due to the corona outbreak is likely to hamper the growth of the market as it has led to the shutdown of production facilities globally. Additionally, it is expected to affect the prices of petroleum in the coming future.

The global adhesive tapes market has been segmented by backing material, type, resin, application, technology, and region. Based on backing material, the global adhesive tapes market has been segmented into polypropylene (PP), paper, polyvinyl chloride (PVC), and others. In terms of value, the paper segment dominated the global market with a 43.1% share in 2019 and is expected to register a CAGR of 4.6% during the review period. The growth in this market is attributed to the increased demand for environment-friendly adhesive tapes, especially by the packaging and healthcare sectors.

By type, the global adhesive tapes market has been classified into single-sided and double-sided. The single-sided segment dominated the global adhesive tapes market with a market share of 62.7% by value in 2019, owing to its wide-spread demand in bonding automotive components and the healthcare sector. The segment was valued at USD 39,250.45 million in 2019; it is expected to register a CAGR of 5.6% to reach USD 54,568.65 million by the end of 2025.

Based on resin, the global market has been divided into acrylic, epoxy, rubber-based, silicone, and others. The acrylic segment accounted for the largest share of 36.9 in 2019 due to the extensive properties offered by acrylic resins and wide applicability in the end-use industries. The segment was valued at USD 23,131.36 million in 2019; it is expected to register a CAGR of 5.6 % to reach USD 32,121.74 million by the end of 2025.

Based on application, the global market has been divided into automotive, healthcare, packaging, electrical & electronics, building & construction, retail, and others. The packaging segment accounted for the largest share of 26.4% in 2019, owing to the increased demand from the e-commerce sector. The segment was valued at USD 16,523.02 million in 2019; it is expected to register a CAGR of 5.5% to reach USD 22,802.35 million by the end of 2025. Further, the automotive segment is expected to witness the fastest growth in the global market, owing to the increased application of adhesive tapes in the automotive sector. Adhesive tapes are widely used in the production of interior and exterior components of automobiles.

Based on technology, the global adhesive tapes market has been segmented into water-based, solvent-based, and hot-melt. In terms of value, the water-based segment dominated the global market with a 43.4% share in 2019 and is expected to register a CAGR of 5.5% during the review period. The growth in this market is attributed to the increased demand for sustainable and renewable adhesive tapes, especially by the packaging and healthcare sectors.

By region, the global adhesive tapes market has been bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific market dominated the global Adhesive tapes market with a share of 46.7% by value in 2019 and is expected to register the fastest growth during the forecast period. The market growth in Asia-Pacific is driven by various factors, including growth in the automotive sector in ASEAN countries, increased healthcare spending, and an increase in production capacity in the region.