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Structural Adhesive Tapes Market | Key players operating in the market include 3M, Avery Dennison Corp, Tesa SE, Nitto Denko Corp, Lintec Corp
Structural Adhesive Tapes Market
Browse 274 market data Tables and 75 Figures spread through 313 Pages and in-depth TOC on "Structural Adhesive Tapes Market - Global Forecast to 2026"
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The Acrylic segments resin type accounted for the largest share in the overall structural adhesive tapes market. The demand for acrylic structural tapes is increasing worldwide, particularly in Europe, because of the regions growing electrical & electronics, healthcare & hygiene, and automotive industries. The properties of acrylic structural tapes make them more favorable in North America and Europe, where environmental regulations regarding solvent-based technology are very strict. Also, the price of acrylic structural tapes is comparatively lower than other types.
The PVC segment led the overall structural adhesive tapes market in 2020, both in value and volume. The fastest-growing market for PVC structural tapes is in developing countries, particularly in the electrical and electronics industries. It finds application in several end-use industries such as automotive, construction, electronics, and healthcare. Thus, with the growth of end-use industries worldwide, the demand for PVC-based structural tapes is expected to increase in the upcoming years.
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The global structural adhesive tapes market size is projected to grow from USD 7.6 billion in 2020 to USD 10.2 billion by 2026, at a CAGR of 4.1% during the forecast year. The global structural adhesive tapes market has witnessed consistent growth due to significant electrical & electronics, automotive, building & construction, and healthcare industries. Moreover, the significant growth of the pharmaceutical industry in developing countries and the demand for thermal management solutions are driving the structural adhesive tapes market. Along with this, the increasing demand for strong, superior quality, reliable, and accurate structural adhesive tapes and expansion of gigafactories across the globe are expected to offer opportunities for structural adhesive tape manufacturers.
The structural adhesive tapes market is dominated by large players, such as 3M Company (US), Avery Dennison Corporation (US), Tesa SE (Germany), Nitto Denko Corporation (Japan), and Lintec Corporation (Japan). These players have adopted several strategies, such as acquisitions, agreements, and expansions, to enhance their market footprint and product portfolios.
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Lintec Corporation is focusing on R&D and manufacturing a variety of associated equipment, such as barcode printers, labeling machines, and semiconductor-related equipment, to maximize the qualities of tapes and label materials. In addition to adhesive-related items, the firm is focussing to develop and manufacture structural papers, such as color papers for envelopes and function papers, release papers and films, and casting papers. While offering base papers for release papers utilized for its adhesive materials. The company is in the process of combining four core technologies, such as adhesive applications, surface improvement, system development, and specialty papers and release materials production at a high level of competence to develop innovative, market-leading products. In addition to this, the company promotes a market-dialog style of R&D, in which its researchers visit the customers with sales representatives for direct communication. This enables the R&D, sales, and production sites to work in collaboration throughout the process of development and commercialization of the product.
Nitto Denko intends to concentrate on three areas: "third-generation connectivity," "life science," and "information interface." The firm is now developing a 5G cellular network. It is expanding its presence in North America and Europe with an intention to strengthen its hold on the market. Simultaneously, the company is working to develop medical adhesive tapes for the wearable device market. These products are focused to solve day-to-day problems, including heat, sound vibrations, and electromagnetic waves. For instance, the advent of fifth-generation mobile communications system has provided the ability to gather & analyze data and create new values in each industrial sector. The company is engaged in the construction of devices that deal with problems in the field of mobility, such as heat, vibration, and electron magnetic waves.
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