The adhesive tapes market was valued at US$ 60,922. 61 million in 2020 and is projected to reach US$ 89,440. 92 million by 2028; it is expected to grow at a CAGR of 5. 1% from 2021 to 2028. Adhesive tapes are available in two types—specialty tapes and commodity tapes.
New York, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Adhesive Tapes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Resin Type, Technology, Tape Backing Material [Polypropylene, Paper, Polyvinyl Chloride, and Others], and Application" - https://www.reportlinker.com/p06176765/?utm_source=GNW
The coating technologies utilized in adhesive tapes are water-based, solvent-based, and hot-melt.
Technological advancements have led to the growing demand for lightweight backing materials in the recent past. Adhesive tapes offers wide range of application in packaging, automotive, and healthcare industries.
Based on application, the global adhesive tapes market is segmented into packaging, healthcare, automotive, electrical and electronics, building and construction, and others.The automotive segment led the market in 2020.
Adhesive tapes have multiple applications in the automotive sector.In the vehicle interior, adhesive tapes are used for seat heating elements, airbag wrapping and securing, steering wheel wrapping, rubber mounting, plastic profiles, and foam and fabric attachment on the instrument panel.
In car interiors with features such as attachments for mobile devices, electronic chargers, air purifiers, connection for portable freezers, and other components, adhesive tapes are utilized for fastening and bonding purposes.Moreover, they are used to develop automotive electronics, such as light assemblies, air conditioning systems, electronic display panels, battery connectors & wires, and sensors.
Moreover, adhesive tapes are rapidly replacing nut bolt fasteners to reduce vehicle weight and enhance vehicle aesthetics. Rising demand for lightweight sealing in vehicles and increasing utilization of adhesive tapes in the manufacturing of electric vehicles are projected to bolster the growth of the adhesive tapes market in the coming years.
In 2020, Asia Pacific held the largest share of the global adhesive tapes market.It is also estimated to register the highest CAGR in the market during the forecast period.
The demand for adhesive tapes is expected to increase in the region due to various factors such as the huge population base, increasing disposable income, and improved living standards.The growth of the automotive market has also propelled demand for adhesive tapes in Asia Pacific.
These factors have also attracted foreign players to expand their business in the region.Additionally, the rapid growth of Asia Pacific is attributed to the growth of the construction industry in the region.
China is the world’s largest construction market and is expected to grow significantly in the next a few years. Moreover, other economies, such as India, are also set to grow at a tremendous rate with the focus on boosting domestic manufacturing activities.
3M, Nitto Denko Corporation, tesa SE, Avery Dennison Corporation, Intertape Polymer Group, LINTEC Corporation, Berry Global Inc, Scapa, Lohmann GmbH & Co.KG, and Rogers Corporation are among the major players operating in the adhesive tapes market.
The overall global adhesive tapes market size has been derived in accordance with both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global adhesive tapes market.
Read the full report: https://www.reportlinker.com/p06176765/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001