Adhesive Tapes Market- Global Analysis, Size, Share, Segments, Trends, Opportunities, Challenges, Graph and Forecast to 2028
The global adhesive tapes market size was USD 80.2 billion in 2022 and is projected to reach USD 110.7 billion by 2028, at a CAGR of 5.6% between 2022 and 2028. The global adhesive tapes market is growing at a high rate due to the increased demand from various sectors. 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 Asia Pacific leads the adhesive tapes market in both value and volume, poised for rapid growth in the forecast period. Over the past decade, the region has experienced substantial economic expansion. China and India, two of the region’s fastest-growing consumer nations, boasted a combined population exceeding XX billion in 2018, per the Population Reference Bureau. With rising incomes and a burgeoning middle class, the region is set to play a pivotal role across global industries like 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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