CHICAGO, Dec. 7, 2023 /PRNewswire/ -- The report "Pressure Sensitive Adhesive Tapes Market by Type, Technology (Water-Based, Solvent-Based, Hot-Melt), Adhesive Type (Acrylic, Rubber, Silicone), Backing or Carrier Material (Plastic, Paper, Foam), End-Use Industry, and Region - Global Forecast to 2030", size is projected to grow from USD 67.0 billion in 2023 to USD 92.4 billion by 2030, at a CAGR of 4.7%.
The pressure sensitive adhesive tapes market is witnessing robust growth, driven by a diverse array of end-use industries. This strategic assessment unveils how sectors such as packaging, electronics, industrial distribution, automotive, paper & printing, and flexo collectively act as influential drivers propelling the growth of the pressure sensitive adhesive tapes market. The symbiotic relationship between pressure sensitive adhesive tapes and these industries underscores their pivotal roles in fostering market expansion.
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The single-sided tapes segment is expected to account for one of the largest shares in 2023.
In the realm of pressure-sensitive adhesive (PSA) tapes, the single-coated variant stands out as a versatile and widely utilized solution. Characterized by the application of adhesive on just one side of the backing material, this design accommodates diverse backing compositions, including paper, polymeric film, foil, nonwoven fabric, or high-thread-count woven cloth. The adhesive formulation in single-coated tapes can vary, featuring compositions such as acrylic, rubber, or silicone, each imparting distinct characteristics to the tape. Single-coated tapes find application across various industries, serving crucial roles in electrical, masking, carton sealing, and medical domains. From facilitating secure carton closures to providing precise and reliable masking in painting applications, the single-coated pressure sensitive adhesive tapes exemplify adaptability and effectiveness in meeting specific industrial requirements. This dynamic tape category continues to evolve, driven by innovations in adhesive technologies and the evolving demands of diverse sectors.
The water-based segment is expected to account for the largest share in 2023.
Water-based technology stands out as the predominant formulating approach for adhesives when considering volume metrics. Adhesives crafted through this technology primarily involve resin emulsions, notably polyvinyl acetate emulsion (PAE). PAE represents a stable suspension of polyvinyl acetate (PVA) particles in water, often enhanced with water-soluble protective colloids like polyvinyl alcohol or 2-hydroxyethyl cellulose ether. Additional components such as plasticizers, fillers, solvents, defoamers, and preservatives may augment these adhesives, formulated from rubber compounds as the base material. Synthetic hydrocarbon resins or derivatives from pine sap are incorporated to boost strength. This technology employs water as the carrier fluid, suspending adhesive particles and lowering viscosity, facilitating application across diverse substrates and thickness requirements.
Asia Pacific is expected to account for the largest share in 2023.
Beyond driving demand and influencing the global market landscape, Asia Pacific stands out for its proactive approach to sustainability in the pressure-sensitive adhesive tapes industry. The region is witnessing a significant shift toward eco-friendly and recyclable adhesive solutions. Governments and regulatory bodies are actively promoting sustainable practices, leading to increased research and development in bio-based adhesives and environmentally conscious manufacturing processes. This emphasis on sustainability aligns with the growing awareness and preferences of consumers and businesses for eco-friendly products. Consequently, Asia Pacific not only serves as a major consumer and producer but also as a trailblazer in fostering a more sustainable and environmentally responsible future for the pressure-sensitive adhesive tapes sector. This dual role positions the region at the forefront of shaping the industry's trajectory on a global scale.
Key Players
The key players in the pressure sensitive adhesive tapes market include 3M (US), tesa SE (Germany), Nitto Denko Corporation (Japan), Lintec Corporation (Japan), Intertape Polymer Group, (IPG) Inc (Canada), Avery Dennison Corporation (US), Lohmann GmbH & Co., KG (Germany), Berry Global Inc (US), Scapa Group plc (UK), Saint-Gobain Performance Plastics (France), Nichiban Co., Ltd (Japan).
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