CHICAGO, March 27, 2020 /PRNewswire/ -- According to the new market research report "Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Backing Material (PP, Paper, PVC), Technology (Solvent, Hot-Melt, Water Based), End-Use Industry (Packaging, Healthcare, E&E, Automotive) and Region - Global Forecast to 2025", published by MarketsandMarkets, the Adhesive Tapes Market is projected to grow from USD 60.4 billion in 2020 to USD 79.9 billion by 2025, at a CAGR of 5.7% during the forecast period. The major factor driving the adhesive tapes market includes the increase in demand from end-use industries such as packaging, healthcare, electrical & electronics, and automotive. These adhesive tapes have wide acceptability due to factors such as low cost and easy availability, as compared to its substitutes - staples and glue.
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Silicone is estimated to grow at the highest CAGR during the forecast period
Silicone-based adhesive tapes are non-conductive in nature. Key properties of silicone-based adhesive tapes include low chemical reactivity, low toxicity, and high gas permeability, which make these tapes suitable for medical applications. Over the past few years, the demand for silicone-based adhesive tapes has been increasing in various end-use industries.
Hot-melt technology is expected to grow at the highest CAGR during the forecast period
The hot-melt technology segment is projected to witness the highest growth during the forecast period. Hot-melt adhesive tapes are the fastest-growing class of adhesive tapes in healthcare application. These adhesive tapes have an extreme rate of bond formation, which can translate into high production rates. In the US, hot-melt technology is widely used in tape production by key players, such as 3M Company (US) and Intertape Polymer Group, Inc. (Canada).
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Paper is estimated to be the fastest-growing backing material in the adhesive tapes market during the forecast period
The paper segment is projected to register the highest CAGR between 2020 and 2025. Smooth or crepe paper with different elongation degrees and tensile strengths are used as a backing material for adhesive tapes. Paper adhesive tapes are used in healthcare, automotive, electrical & electronics, and building & construction industries.
APAC is estimated to be the largest as well as the fastest-growing adhesive tapes market
APAC is estimated to account for the largest share of the adhesive tapes market during the forecast period. The healthcare, electrical & electronics, and automotive segments are the key markets for adhesive tape manufacturers as these industries are expected to witness significant growth. Also, demand from various industries in developing countries such as Japan, India, China, South Korea, Vietnam, Taiwan, and Singapore is contributing to the growth of the APAC adhesive tapes market. China is the largest consumer of adhesive tapes in the region and continues to drive the global demand.
Major vendors in the adhesive tapes market include 3M Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), Lintec Corporation (Japan), Intertape Polymer Group (Canada), Avery Dennison Corporation (US), Lohmann GmbH (Germany), Berry Global Inc. (US), Scapa Group PLC (Canada), and Rogers Corporation (US).
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