By 2026, the tape market is worth 83.8 billion U.S. dollars-an exclusive report from MarketsandMarkets™

2021-12-13 17:28:44 By : Ms. Vicky Wu

Chicago, December 8, 2021/PRNewswire/ - According to the report "Adhesive tapes classified by resin type (acrylic, rubber, silicone), technology (solvent, hot melt, water-based), and backing material (PP, paper) Markets, PVC), end-use industries (packaging, healthcare, electrical and electronic, automotive) and regions-global forecasts to 2026", published by MarketsandMarkets™, the global market is expected to grow from US$63.1 billion in 2021 to 2026 Of USD 83.8 billion, a compound annual growth rate of 5.8% during the forecast period.

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The main factors driving the tape market include increased demand from end-use industries such as packaging, healthcare, electrical and electronics, and automobiles. Compared with its substitutes-staples and glue, these tapes have low cost and easy availability, so they have a wide range of acceptability.

It is expected that during the forecast period, silicone will grow at the highest compound annual growth rate

The compound annual growth rate of the silicone resin type part is expected to be higher than that of acrylic and rubber because of its higher adhesion properties. The silicone tape can maintain adhesion in a larger temperature range and has the ability to adhere to difficult surfaces. Silicone tapes are composed of silicone polymers and are widely used in specific industrial applications such as electrical and electronics, healthcare, automotive, white goods, paper and printing, building and construction, retail, and applications involving extreme environments. These tapes are used in these applications in the form of processed tapes and high-performance insulating laminates, where organic adhesives cannot meet the requirements. These factors are expected to drive the demand for silicone tape.

Hot melt technology is expected to grow at the highest compound annual growth rate during the forecast period

The hot melt technology segment is expected to achieve the highest growth during the forecast period. Due to its fast curing speed, relatively low cost (materials and processing), and less impact on the environment, the demand for hot melt adhesives continues to increase. The hot melt adhesive system also has a wide range of formulations and can produce a large number of products for specific end-uses and substrates. The main attraction of this type of tape is the extremely fast bonding speed, which can translate into high productivity. In the United States, hot melt technology is widely used in tape production by major players, such as 3M (United States) and Intertape Polymer Group, Inc. (Canada).

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The Asia-Pacific region is estimated to be the largest and fastest growing tape market

During the forecast period, the tape market in the healthcare industry in the Asia-Pacific region is expected to grow at the highest compound annual growth rate. This growth is attributed to the high demand for traditional wound care products such as dry dressings, first aid kits and adhesive bandages in the region. The increasing awareness of advanced wound care is expected to drive demand for new products in the region. The region’s growth is mainly attributable to high economic growth rates, followed by heavy investment in various industries such as automobiles, healthcare, electrical and electronics, and construction and construction. Companies such as Nitto Denko (Japan) and Ajit Industries (India) are setting up new factories or expanding their existing tape production units in the region. The advantage of shifting production to the Asia-Pacific region is the low production cost and the ability to better serve the local emerging markets.

Major suppliers in the tape market include 3M (USA), tesa SE (Germany), Nitto Denko Corporation (Japan), Lintec Corporation (Japan), Intertape Polymer Group (Canada), Avery Dennison Corporation (USA), Lohmann GmbH (Germany) ), Berry Global Inc. (U.S.), Scapa Group PLC (Canada) and Rogers Corporation (U.S.).

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Specialty tape market by resin (acrylic, rubber, silicone), backing material (PVC, paper, woven/non-woven fabric, pet, foam, PP), application (electronics, healthcare, automotive, white goods, construction, printing) And region

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Pressure-sensitive tape market by resin type (acrylic, rubber, silicone), category (commodity, specialty), backing material (polypropylene, paper, PVC), type, end-use industry, and region-global by 2022 predict

https://www.marketsandmarkets.com/Market-Reports/pressure-sensitive-adhesive-tapes-market-93089164.html

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