(PharmaNewsWire.Com, May 04, 2024 ) The report "Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Technology (Solvent, Hot-melt, Water-based), Backing Material (PP, Paper, PVC), End-use Industry (Packaging, Healthcare, E&E, Automotive) and Region - Global Forecast to 2028" The global adhesive tapes market size was valued at USD 80.2 billion in 2022 and is projected to reach USD 110.6 billion by 2028, growing at 5.6% during the forecast period.
Acrylic, by resin type segment is expected to hold largest share of the adhesive tapes market during the forecasted period. The acrylic resin has a high demand owing to its beneficial chemical and physical properties, low cost, and applications in several end-use industries such as healthcare, transportation, and packaging. These acrylic adhesive tapes can be used in water-based and solvent-based technologies due to its high resistance to other solvents, water, and chemicals. Water-based acrylic adhesives are the cheapest as compared to all other resins used in the adhesive tapes industry. Acrylic-based adhesive tapes are designed with high shear strength. These tapes are permeable to moisture (measured by the moisture vapor transmission rate). The transmission of moisture depends upon the thickness of the adhesive coating and the adhesive formulation. Acrylic-based adhesive tapes are firmer and more durable than rubber-based adhesive tapes. The properties of acrylics are fast curing time; excellent resistance to oxidation, temperature, and UV radiation; color stability; exceptional anti-aging properties; good balance of adhesion and cohesion; excellent water resistance; and high peel, tack, and shear strength. Acrylic-based adhesive tapes have high demand in spite of higher costs than rubber-based adhesive tapes due to the above-mentioned properties. Acrylic-based adhesive tapes are widely used in the healthcare and automotive industries owing to their properties of excellent adhesion.
The demand for acrylic-based adhesive tapes is increasing majorly in the Asia Pacific region because of the growing electrical & electronics, healthcare, and automotive industries. The properties of acrylic-based adhesive tapes lead to high demand in North America and Europe, where environmental regulations regarding solvent-based technology are stringent. The prices of acrylic-based adhesive tapes are also comparatively lower than those of other types.
Hot-melt, by technology segment hold the fastest growing segment in overall adhesive tapes market during forecast period. The hot-melt technology is the fastest-growing segment in the overall adhesive tape. With the structural level bond developing over time as the adhesive cures via atmospheric moisture, the hot-melt based technique offers processing advantages such near quick fastening. Many different sectors use hot-melt technology for a variety of purposes. The major consumer of hot-melt-based adhesive technology is the electrical and electronics sector, where adhesive tapes are used to bond coil winds and coil ends. The automotive sector also uses hot-melt based adhesive tapes for wheel covers, headlight coverings, and the attachment of insulating and cushioning materials to metal frames.
Polypropylene (PP)-backed adhesive tapes accounted largest share of the global adhesive tapes market during forecasted period. Polypropylene-backed adhesive tapes are recyclable, flexible, water & abrasion-resistant, and strong. These tapes accommodate both smooth and irregular surfaces effectively. PP adhesive tapes comes with or without adhesives. It is also referred to as mono-axial-oriented polypropylene (MOPP) film, biaxially oriented polypropylene (BOPP) film, , fiberglass-reinforced filament polypropylene film, and tensilized polypropylene (TPP) film. Based on the chemistry, PP adhesive tapes are usually used for electrical insulation applications. These tapes cannot be printed with ink or made wet by adhesives due to their low hydrophilicity.
Asia Pacific region likely to account the largest share of the global polyurea coatings market during forecasted period. The Asia Pacific is the largest adhesive tapes market, in terms of both, value and volume, and is projected to be the fastest-growing market during the forecast period. The plast decade have seen significant economic growth in the region. As of 2018, the population of the region's fastest-growing consumer nations, China and India, was over XX billion, according to the Population Reference Bureau. With rapidly growing income and the fastest-growing middle class population, this is expected to become an increasingly important driver for a various global end-use industries, including electrical & electronics, packaging, healthcare, and automotive. Adhesive Tapes Market Key Players
The key players following the strategies between 2018 to 2022 3M Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), LINTEC Corporation (Japan), Intertape Polymer Group (Canada). The companies are majorly following product launch, merger & acquisition, and expansion as the strategy to grow and expand the market.
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