Press release
Global Adhesive Tapes Market Projected to Grow at 8.6% CAGR, Reaching $113.39 Billion by 2029
Adhesive Tapes
What Is the Expected CAGR for the Adhesive Tapes Market Through 2025?
In recent times, the adhesive tapes market has experienced substantial growth. The market value, which is expected to escalate from $75.8 billion in 2024 to $81.54 billion in 2025, indicates a compound annual growth rate (CAGR) of 7.6%. This upswing during the historical phase owes itself to an assortment of factors including industrial expansion, the surge in the packaging industry, automotive production, electronics and electrical industry, as well as amplified applications in the medical and healthcare sectors.
What's the Projected Size of the Global Adhesive Tapes Market by 2029?
Promising growth is anticipated in the adhesive tapes market in the coming years, with projections suggesting a surge to $113.39 billion by 2029, reflecting a compound annual growth rate (CAGR) of 8.6%. The predicted expansion during the forecasted period is due to the rising demand for repair and maintenance, augmented usage in the automotive manufacturing sector, urbanization, infrastructural renovation, and the incorporation of electrification in vehicles. The significant trends that will shape the market moving forward include advancements in adhesive tape technology, adoption of flexible packaging, a surge in customization, automotive lightweighting, and a focus on green and eco-friendly solutions.
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Top Growth Drivers in the Adhesive Tapes Industry: What's Accelerating the Market?
The adhesive tapes market is anticipated to experience a surge during the forecast period driven by the expansion of the automotive industry and the escalating global demand for adhesive tapes in the automobile sector. Their compactness, lightness, and smoothness render adhesive tapes perfect for bonding electronic products, fixing parking sensor retainers, applying door cladding, spoilers, and seals among other tasks in car interiors. For instance, data from the US-based automotive industry information service provider, MarkLines Co. Ltd., in January 2024, indicated a 13.4% growth in the full-year sales of trucks and SUVs amounting to 12,380,961 units in 2023 in comparison to the previous year. Passenger car sales also experienced an 8.1% rise, with 3,227,425 units sold. The growing preference for lightweight vehicles has led to a gradual shift from metal fasteners to adhesive tapes in cars. As a result, the expected increase in automobile production will subsequently amplify the demand for adhesive tapes, enhancing their sales.
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What Trends Will Shape the Adhesive Tapes Market Through 2029 and Beyond?
Leading firms in the adhesive tapes market are pivoting towards product innovation, such as creating recycled tapes to satisfy the increasing requirement for sustainable and eco-friendly solutions. Recycled tapes are adhesive tapes crafted from recycled materials usually obtained from post-consumer or post-industrial trash, which results in a reduced environmental effect by lowering resource consumption and waste. For example, Shurtape Technologies LLC, a manufacturing company based in the US, introduced Shurtape Recycled Series Packaging Tapes in August 2024. These recycled tape series utilize PCR polyester and include three packaging tapes which are composed of 90 percent postconsumer recycled (PCR) polyester gleaned from polyethylene terephthalate (PET) bottles and stiff containers. This creative strategy not only decreases plastic trash but also enables companies to achieve their sustainability objectives while keeping high-performance metrics intact.
What Are the Main Segments in the Adhesive Tapes Market?
The adhesive tapes market covered in this report is segmented -
1) By Resin Type: Acrylic, Rubber, Silicone, Other Resin Types
2) By Material Type: Polypropylene (PP), Paper, Polyvinyl Chloride (PVC), Other Material Types
3) By Technology Type: Solvent-Based, Hot-Melt Based, Water-Based
4) By End Use: Packaging, Consumer and Office, Healthcare, Automotive, Electrical and Electronics, Building and Construction, Other End Uses
Subsegments:
1) By Acrylic: Water-Based Acrylic, Solvent-Based Acrylic
2) By Rubber: Natural Rubber, Synthetic Rubber
3) By Silicone: High-Temperature Silicone, Pressure-Sensitive Silicone
4) By Other Resin Types: Polyethylene (PE), Ethylene Vinyl Acetate (EVA), Polypropylene (PP)
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Which Top Companies are Driving Growth in the Adhesive Tapes Market?
Major companies operating in the adhesive tapes market include Compagnie de Saint-Gobain S.A., 3M Company, Henkel AG, Berry Global Inc., DuPont de Nemours Inc., OJI Holdings Corporation, Sekisui Chemical Co. Ltd., Sika AG, Avery Dennison Corporation, Nitto Denko Corporation, RPM International Inc., H.B. Fuller Company, Schweitzer-Mauduit International Inc., Tesa SE, Lohmann GmbH & Co., Intertape Polymer Group Inc., American Biltrite Inc., INDUSTRIAS TUK S.A. DE C.V., Dewal Industries Inc., CMS Group of Companies, Nichiban Co. Ltd., JDC Solutions Inc., Lintec Corporation, Scapa Group plc, Shurtape Technologies LLC, Advance Tapes International Ltd., Canadian Technical Tape Ltd., ORAFOL Europe GmbH, Pioneer Tapes, Bemis Company Inc., 3F GmbH, Symbio Inc.
Which Regions Will Dominate the Adhesive Tapes Market Through 2029?
Asia-Pacific was the largest region in the adhesive tapes market in 2024. The Asia-Pacific region is predicted to record fastest growth in the adhesive tapes market during the forecast period. The regions covered in the adhesive tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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