Press release
Construction Boom Drives Surge in Pressure Sensitive Adhesive Tapes Market to Hit $93.61 Billion by 2028
Pressure Sensitive Adhesive Tapes Market Report
Pressure Sensitive Adhesive Tapes Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $93.61 billion In 2028 At A CAGR Of 7.4%.
The pressure sensitive adhesive tapes market size has grown strongly in recent years. It will grow from $65.52 billion in 2023 to $70.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing industrialization, environmental regulations, automotive industry growth, emerging market demand, global economic trends.
The pressure sensitive adhesive tapes market size is expected to see strong growth in the next few years. It will grow to $93.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to health and hygiene awareness, urbanization and construction activities, sustainability initiatives, electric vehicles (evs) trend, digitalization in manufacturing. Major trends in the forecast period include growing demand for sustainable solutions, advancements in technology, expanding e-commerce and logistics industry, customization and personalization, health and safety concerns.
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Pressure Sensitive Adhesive Tapes Market Major Segments
The pressure sensitive adhesive tapes market covered in this report is segmented -
1) By Type: Single-Coated Tapes Or Single-Sided Tapes, Double-Coated Tapes, Transfer Tapes Or Unsupported Tapes, Self-Wound Tape
2) By Resin Type: Acrylic, Rubber, Silicone, Other Resin Types
3) By End-Use Industry: Packaging, Electrical And Electronics, Medical And Hygiene, Construction, Transportation, Consumer And Office, Other End-Use Industries
Key Driver - Rising Construction Sector Drives The Pressure Sensitive Adhesive Tapes Market
The rising construction sector is significantly contributing to the growth of pressure sensitive adhesive tapes market going forward. The construction sector refers to the area of business and manufacturing that is concerned with building, preserving, and fixing infrastructure. Pressure sensitive adhesive tapes are used in the construction sector to strengthen foundation membranes to keep water out, to seal argon gas between windowpanes, and to support and secure ducting. Pressure sensitive adhesive tapes can also withstand moisture and extreme temperature which makes them suitable for rooftops keeping the elements out. For instance, according to a 2022 report published by the bureau of economic analysis (BEA), a US-based government organization that provides official macroeconomic and industry statistics, the size of the US construction industry increased from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022. Therefore, the rise in the construction sector will drive the pressure sensitive adhesive tapes market.
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Prominent Trend - Product Innovation Transforms The Market
Product innovation is the key trend gaining popularity in the pressure sensitive adhesive tapes market. Major players operating in the pressure sensitive adhesives market are focusing on developing innovative products to sustain their market position. For instance, in November 2022, Avery Dennison, a US-based manufacturer of pressure-sensitive adhesive materials, launched a new portfolio of pressure-sensitive tapes for the interior building and construction segment. The Avery Dennison Interior Surfaces portfolio includes nine pressure-sensitive tape designs with various adhesive technologies for adhering products to commercial and residential interior surfaces. The Interior Surfaces portfolio uses bonding elements that offer simplicity of use, application flexibility, durability, and consumer safety to confront major challenges faced by manufacturers, architects, designers, suppliers, and DIY customers of interior products in the building and construction industry.
Pressure Sensitive Adhesive Tapes Market Players
Major companies operating in the pressure sensitive adhesive tapes market report are 3M Company, Avery Dennison Corporation, Lintec Corporation, Lohmann GmbH & Co. Kg, Nichiban Co. Ltd., Nitto Denko Corporation, Scapa Group Plc, Shurtape Technologies LLC, Tesa SE, Ellsworth Adhesives India PTY Limited, H.B. Fuller Company, Henkel AG & Co. KGaA, LG Chem Ltd., Arkema Group, Sika AG, Nippon Paint Co. Ltd., Achem Technology Corporation, Yonghe Adhesive Products Co. Ltd., Berry Plastics Corporation, Intertape Polymer Group Inc., JinghuaTape Technologies Co. Ltd., Luxking Group Co. Ltd., Shushi Group Co. Ltd., Shanghai Yongguan Adhesive Products Corp. Ltd., Camat Corporation, ATP Adhesive Systems AG, Applied Plastics, Dunmore Corporation, FLEXcon Company Inc., Labelink Corporation .
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the pressure sensitive adhesive tapes market in 2023. The regions covered in the pressure sensitive adhesive tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pressure Sensitive Adhesive Tapes Market Report Structure
3. Pressure Sensitive Adhesive Tapes Market Trends And Strategies
4. Pressure Sensitive Adhesive Tapes Market - Macro Economic Scenario
5. Pressure Sensitive Adhesive Tapes Market Size And Growth
…..
27. Pressure Sensitive Adhesive Tapes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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