(MENAFN- GlobeNewsWire - Nasdaq) The rise in demand for adhesive tape-based beauty and healthcare products continues to accelerate due to advancements in scientific research and increasing consumer awareness about adhesive tape benefits.
Austin, Oct. 18, 2024 (GLOBE NEWSWIRE) -- What is the growth of the Adhesive Tapes market?
As per the SNS Insider research, The Adhesive Tapes market Size was valued at USD 81.5 billion in 2023 and is expected to reach USD 134.6 billion by 2032 and grow at a CAGR of 5.8% over the forecast period 2024-2032. The main reasons propelling the growth of the worldwide Adhesive Tapes market are the rising use of adhesive tapes in the healthcare sector, the increasing application in food packaging, and the expanding use in electronics and automotive manufacturing. Additionally, the growing consumer shift towards sustainable and eco-friendly adhesive products is further boosting market expansion.
The adhesive tapes market has seen a significant surge in recent years, driven by its expanding applications across multiple industries, including healthcare, packaging, automotive, and electronics. These tapes have become essential in industries due to their versatility, offering solutions for bonding, sealing, insulating, and protecting surfaces. Innovations such as eco-friendly, biodegradable adhesive tapes are gaining popularity, aligning with the rising consumer demand for sustainable products. In healthcare, the demand for adhesive tapes for wound care, surgical procedures, and wearable medical devices is growing rapidly, especially with the increasing focus on home-based healthcare solutions. The packaging industry, especially e-commerce, is another major contributor, as companies require durable adhesive solutions to secure packages efficiently. The rise in e-commerce and global shipping activities has boosted the demand for high-performance tapes that ensure product safety during transport. Furthermore, the automotive industry uses adhesive tapes to replace mechanical fasteners in vehicle manufacturing, improving efficiency and reducing vehicle weight, which is crucial for fuel economy. Additionally, the construction industry benefits from these tapes for insulation, HVAC, and plumbing applications. Overall, technological advancements, increasing urbanization, and the need for more sustainable and efficient bonding solutions are fueling the growth of the Adhesive Tapes market.
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Top 10 Companies Operating in the Adhesive Tapes Industry Worldwide
3M Nitto Denko Corporation Tesa SE Avery Dennison Corporation Henkel AG & Co. KGaA Intertape Polymer Group Inc. Scapa Group PLC Lintec Corporation Shurtape Technologies LLC Lohmann GmbH & Co. KG Which segment dominated the adhesive tapes market?
In 2023, the Packaging segment dominated the Adhesive Tapes Market, accounting for an estimated 30% of the total market share. Packaging applications for adhesive tapes are experiencing a surge due to the boom in the e-commerce sector, which requires reliable and secure packaging solutions. Companies in the logistics and shipping industries rely on high-strength adhesive tapes to safeguard goods during transport, minimizing the risk of damage. Additionally, with the rising trend of online grocery shopping, food packaging applications for adhesive tapes have grown exponentially. For instance, water-activated tapes are increasingly used to ensure airtight seals for perishable goods. As packaging becomes more critical for maintaining product integrity, the demand for specialized adhesive tapes in this segment is expected to rise further.
Key Segments:
By Category
Commodity Adhesive Tapes Specialty Adhesive Tapes
By Resin Type
Acrylic Rubber Silicone Others
By Base Material
Paper Woven or Non-woven Polypropylene (PP) Polyvinyl Chloride (PVC) Others
By Technology
Water-Based Solvent-Based Hot-Melt Based
By End-use Industry
Packaging Automotive Electrical & Electronics Building & Construction Healthcare Shipping & Logistics Retail Others
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What are the driving factors of the adhesive tapes market?
The Adhesive Tapes market is witnessing robust growth, primarily due to the following driving factors:
Rising Demand in Healthcare Adhesive tapes are extensively used in medical applications such as wound care, surgical procedures, and wearable devices. The increasing prevalence of chronic diseases and the growing trend of home healthcare services are driving this demand.
Booming E-commerce Sector With the exponential growth of online shopping, the packaging sector has become a major user of adhesive tapes. The need for secure and durable packaging solutions in shipping and logistics has propelled demand, particularly for water-resistant and tamper-proof tapes.
Technological Advancements Innovations in adhesive technologies, such as the development of high-performance, heat-resistant, and eco-friendly tapes, are fueling market expansion. These tapes offer superior adhesion properties while meeting the requirements of diverse industries.
Which region dominated the adhesive tapes market?
In 2023, Europe dominated the adhesive tapes market in 2023, capturing an estimated 35% of the global market share. The region, which includes major markets like Germany, France, the UK, and Italy, has witnessed a significant uptick in demand for adhesive tapes across various sectors, particularly healthcare and automotive. The European market benefits from the increasing adoption of adhesive solutions in automotive manufacturing, where the focus on lightweight, fuel-efficient vehicles is high. Additionally, the healthcare industry in Europe is rapidly embracing adhesive tapes for medical devices and wound care, thanks to the region's advanced medical infrastructure. Rising awareness of sustainable packaging solutions also boosts the demand for eco-friendly adhesive tapes.
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Recent Developments:
August 2023: Saint-Gobain Tape Solutions launched a new release of the Norbond F500 Series Bonding Tape, specifically made for bonding metals and plastics. It features unmatched strength, durability, and applicability. February 2023: Intertape Polymer Group Inc. acquired Precision Cutting. This company is one of the country's top producers of customized die-cut products, such as adhesive tapes and labels. The acquisition is aimed at enhancing the product portfolio of Intertape while increasing its market share by taking advantage of customized die-cut products.
The Adhesive Tapes market is poised for significant growth, driven by rising demand across healthcare, automotive, and packaging industries. Sustainable and high-performance adhesive tapes are becoming a preferred choice, particularly in Europe and Asia-Pacific. As technological innovations continue to evolve, the market will witness further diversification in its applications.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter's Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Adhesive Tapes Market Segmentation, by Category
8. Adhesive Tapes Market Segmentation, by Resin Type
9. Adhesive Tapes Market Segmentation, By Base Material
10. Adhesive Tapes Market Segmentation, By Technology
11 . Adhesive Tapes Market Segmentation, By End-use Industry
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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