Tuesday, 12 April 2016

Adhesive Tapes Market - Global Industry Analysis, Size, Share, Trends and Forecast 2016 – 2023 : Transparency Market Research

Adhesive tape is a strip of plastic or paper coated with an adhesive to stick, hold, or fasten different surfaces at standard conditions of temperature. There are two major types of adhesive tapes: commodity tapes and specialty tapes. Adhesive tapes are used in various industries such as packaging, building & construction, food & beverages, automotive, electrical & electronics, and healthcare. Adhesive tapes contain specific backing materials ranging from common paper, polypropylene, and polyvinyl chloride (PVC) to uncommon materials such as foam, glass cloth, and woven and non-woven. Two coating technologies are primarily used in adhesive tapes: hot melt and solvent.

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Rising demand for adhesive tapes in packaging applications is driving the adhesive tapes market. This application holds immense potential for adhesive tapes. Furthermore, easy availability and higher usability has augmented demand for adhesive tapes across the globe. Healthcare is expected to be an attractive market for adhesive tapes, led by strong growth of the global healthcare industry. Food & beverages, automotive, electrical & electronics, and building & construction application segments of adhesive tapes have witnessed steady growth over the past few years due to expansion in end-use industries. The trend is anticipated to continue during the forecast period. The automotive segment is estimated to expand slightly faster than the rest owing to recent growth of the automotive industry. Building & construction is another lucrative segment of the adhesive tapes industry, as these tapes are employed in roofing, insulation, and various other applications in the building & construction industry. Growth in the building & construction industry is likely to be a major driver for the adhesive tapes market in the near future.

In terms of volume, packaging and food & beverage collectively accounted for approximately two-third share of the global adhesive tapes market in 2014. The segment’s share is projected to increase in the near future. Specialty tapes is likely to be the dominant product segment during the forecast period due to its application in various end-use industries. Furthermore, backing material and coating technologies may influence the market in the near future. Demand for lightweight backing materials has been increasing since the past few years owing to advancement in the technology. This trend is anticipated to continue during the forecast period. Paper is projected to dominate the other types of backing materials. Strict environmental regulations due to deforestation may prove to be a restraining factor for paper-backed adhesive tapes. However, rising preference for good quality recycled paper is likely to mitigate the restraints rising from environmental regulations.

In terms of region, Asia Pacific is expected to be the leading market during the next few years due to increasing population in emerging economies such as China and India. Automotive, food & beverages, and packaging applications are anticipated to dominate the major share of the market in the region owing to growth in disposable income in countries such as China and India. Europe is estimated to exhibit similar trend due to presence of well-established automotive industry in the region. The adhesive tapes market in North America is likely to be driven by strong growth in the packaging industry in the region. The adhesive tapes market in Latin America is anticipated to witness steady growth in the next few years due to expansion in the construction industry in economies such as Brazil. Middle East and Africa is expected to be a highly lucrative regional segment for adhesive tapes owing to expansion in construction and food & beverages industries in GCC countries and growth in the automotive industry in South Africa.

Some of the major players in the adhesive tapes market include 3M Company, tesa SE, NITTO DENKO CORPORATION, LINTEC Corporation, Avery Dennison Corporation, Intertape Polymer Group, Henkel AG & Co. KGaA, Scapa Group plc, Shurtape Technologies, LLC, and Lohmann GmbH & Co.KG.

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