Adhesive Tapes Market Global Industry Overview and Competitive Landscape till 2026
The report "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 2026", is projected to grow from USD 63.1 billion in 2021 to USD 83.8 billion by 2026, at a CAGR of 5.8% during the forecast period.
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Browse 211 market data Tables and 69 Figures spread through 265 Pages and in-depth TOC on "Adhesive Tapes Market”.
The major driver for the adhesive tapes market is the high demand from the electrical & electronics, healthcare, automotive, building & construction, white goods, paper & printing, retail, and other end-use industries. The trend towards using lightweight devices is leading to the increasing application of adhesive tapes in the electrical & electronics industry. Adhesive tapes have the ability to inhibit corrosion and offer superior bonding and esthetics. However, high prices of backing materials, volatility in crude oil prices, and the effect of the global recession on end-use industries are majorly restraining market growth. There are various opportunities for growth for both, large and small companies that specialize in niche markets. Medium-sized companies are expected to face a competitive scenario in the future. They are expected to either be acquired by larger companies or forced to merge with other companies. However, manufacturers in Europe and North America are required to follow regulations implemented by various regulatory authorities regarding the production as well as the use of adhesive tapes for various applications for reductions in emissions of VOCs. This is a challenge faced by various key players
The key players of the market include 3M
Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), Lintec
Corporation (Japan), Intertape Polymer Group (Canada), Avery Dennison
Corporation (US), Lohmann GmbH (Germany), Berry Global Inc. (US), Scapa Group
PLC (Canada), and Rogers Corporation (US). New product launches, mergers &
acquisitions, and investments & expansions have been the major strategies adopted
by the key players between 2016 and 2021, to enhance their market shares and
expand their global presence.
In line with the rising demand for adhesive
tapes, 3M Company offers a broad spectrum of products, including adhesives,
bonding materials, coatings, and specialty materials. The company operates
through four business segments, namely, Safety and Industrial, Transportation
and Electronics, Health Care, and Consumer. It manufactures adhesive tapes for
varied applications through the Industrial segment. 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.
·
In October 2019, the company launched
upgraded sealing tape, Scotch High Tack Box Sealing Tape 375+, to meet packaging
challenges. It ensures high-performance for ecommerce and other shipments and
overcoming ineffective box sealing tape challenges. Through the strategy of new
product launch, the company is able to cater to the demands of a wide range of
industries, especially from APAC. This will boost the growth of the company
and, also, its adhesive tapes business, globally.
The second most active company in the
market is tesa SE (Germany). 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
has planned to adopt organic and inorganic strategies such as new product
launch, investment & expansion, and merger & acquisition in the future,
which will surely increase its presence and revenue globally.
·
In January 2019, tesa SE
introduced six new aluminum foil tapes which are available with and without
liners. The products include tesa 50525, tesa 50565, and tesa 50575. These
tapes are used in appliances, including refrigerators to seal liners of
freezers for better heat transfer.
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