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Adhesive Tapes Market Analysis by Top Key Players Including 3M, Nitto Denko Corporation, tesa SE, LINTEC CORPORATION, Avery Dennison, DIC Corporation, IPG - Intertape Polymer Group, Shurtape Technologies, LLC & Nichiban Co Ltd, Future Prospects by 2023
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Based on type, the global adhesive tapes market is bifurcated into commodity and specialty tapes. The market for specialty tapes is expected to register faster growth, witnessing CAGR of 6.8% in terms of value during 2018-2023. This growth can be attributed to the ongoing developments in the automotive industry, which is resulting in the increased usage of these tapes, over traditional methods, for the fixing and fastening of parts.
In terms of volume, APAC held the largest share in the adhesive tapes market contributing more than 50.0% volume share in 2017. Emerging economies of the region, such as China, and India, are witnessing strong growth owing to ongoing R&D and advancements in the electrical and electronics, healthcare, and automotive industries.
Moreover, low cost of raw materials and easy availability of cheap labor for the manufacturing of tapes with adhesion properties have resulted in the increased production of low-priced tapes in APAC, which, in turn, has contributed to the growth of the adhesive tapes market in this region.
Globally, many countries are restricting the use of hazardous chemicals required for the production of adhesive solutions. Stringent government regulations to restrict the usage of harmful chemicals in addition to shifting focus of end users toward environment-friendly products such as water-activated tape, which is biodegradable in nature.
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Some of the major players operating in the global adhesive tapes market are 3M Company, Nitto Denko Corporation, tesa SE, LINTEC Corporation, Avery Dennison Corporation, Intertape Polymer Group Inc., Shurtape Technologies LLC, Scapa Group plc, Lohmann GmbH & Co. KG, and Nichiban Co. Ltd.
GLOBAL ADHESIVE TAPES MARKET SEGMENTATION
By Type
• Commodity
• Specialty
By Technology
• Water-Based
• Solvent-Based
• Hot-Melt-Based
By End Use
• Packaging
• Consumer and Office
• Healthcare
• Automotive
• Electrical and Electronics
• Building and Construction
• Others (Furniture, Printing, Agriculture, and Entertainment)
By Geography
• North America
o U.S.
o Canada
• Europe
o Germany
o France
o U.K.
o Italy
o Spain
o Rest of Europe
• APAC
o China
o Japan
o India
o Rest of APAC
• Latin America (LATAM)
o Brazil
o Mexico
o Rest of LATAM
• Middle East and Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
About P&S Intelligence
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