Adhesive Tapes Market Size, Share & Industry Analysis, By Material (Paper, Polyvinyl Chloride, PET, PP, Polytetrafluoroethylene, and Others), By End-use Industry (Automotive {Wiring Harness, Interior, Exterior, and Others}, Electric & Electronics, Medical, Building & Construction, and Others), and Regional Forecast, 2024-2030

The global adhesive tapes market size was valued at USD 58.73 billion in 2023 and is projected to grow from USD 62.04 billion in 2024 to USD 87.67 billion by 2030, exhibiting a CAGR of 5.9% during the forecast period.

Adhesive tapes are flexible materials composed of three main components: a backing material, an adhesive layer, and a release liner. The backing material provides the tape’s structural integrity and can be made from different materials such as paper, plastic film, cloth or foam. The adhesive layer is applied to one side or both sides of the backing material and is responsible for adhering the tape to surfaces. The liner is a non-stick paper or film that covers the adhesive layer, protecting it until the tape is ready for use. Adhesive tapes are versatile and find applications in various industries, including automotive, electric & electronics, building and construction, medical and packaging, and aerospace & defense, among others.

In 2019, the outbreak of the COVID-19 pandemic had a staggering impact on the market owing to the slowdown of operations by the major end-use industries of tapes, including automotive, building & construction, and electric & electronics. However, with the gradual revival of the economy in late 2020, the market started to recover with a considerable growth rate.

Adhesive Tapes Market Trends

Increasing Demand for Sustainable Tapes to Present Lucrative Market Opportunities

Businesses and consumers increasingly prioritize environmental sustainability. There is a growing demand for adhesive tapes that minimize environmental impact and promote resource conservation throughout the product lifecycle.

One aspect of sustainability within the industry involves the development and adoption of eco-friendly materials and manufacturing processes. The tape manufacturers are exploring alternative materials derived from renewable resources, such as bio-based adhesives and backing materials sourced from plant fibers or recycled materials.

Moreover, sustainability initiatives present significant opportunities for tape manufacturers to innovate, differentiate, and capture market share in an increasingly eco-conscious marketplace.

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Adhesive Tapes Market Growth Factors

Rising Demand from Expanding E-commerce Business to Drive Market Growth

The growth of the packaging industry, fueled by the rise of e-commerce and online retail, is significantly driving the market growth. With the convenience of online shopping, consumers can browse and purchase products from the comfort of their homes, leading to a shift away from traditional brick-and-mortar retail. As more consumers look for the convenience of shopping online, businesses face the challenge of securely packaging products for shipping. This rise in e-commerce activity has led to a significant increase in the demand for packaging materials, including adhesive tape, which plays a critical role in sealing corrugated boxes, envelopes, and parcels to ensure the safe delivery of goods to customers.

As the packaging industry continues to evolve to meet the changing needs and preferences of customers, adhesive tape is expected to remain an irreplaceable and essential tool for e-commerce businesses seeking to deliver products safely and effectively to their customers. This factor is poised to drive the adhesive tapes market growth during the forecast period.

RESTRAINING FACTORS

Fluctuating Raw Material Prices May Limit Market Growth

Fluctuating raw material prices can significantly restrict the growth of the market. Raw materials such as adhesives, backing materials, and release liners are essential components in tape manufacturing, and any changes in their prices can directly impact production costs.

When raw material prices increase, manufacturers may face higher production expenses, leading to increased production costs or reduced profit margins. Therefore, fluctuating raw material prices due to rising environmental regulations related to manufacturing, geopolitical crises, and trade wars between different countries are anticipated to limit market growth for adhesive tapes. 

Adhesive Tapes Market Segmentation Analysis

By Material Analysis

Polyvinyl Chloride Segment Accounted for the Largest Share owing to Its Cost Effectiveness 

Depending on the backing materials used in the manufacturing of the tapes, the market is segmented into paper, polyvinyl chloride, PET, PP, polytetrafluoroethylene, and others.

The polyvinyl chloride segment held the largest share of the market in 2023 and is poised to account for the largest market share during the forecast period. PVC tapes are cost-effective and are witnessing higher demand from the automotive, electronics, and packaging industries owing to the conformability and resistance to moisture, chemicals, and UV radiation they offer.

PET and PP segments are also witnessing considerable growth for tape manufacturing owing to their reliable performance in demanding applications, including automotive, electric, and electronics.

Polytetrafluoroethylene segment is anticipated to witness growth with considerable CAGR during the forecast period. It is generally used in combination with other materials, such as foam and glass cloth, as a coating, offering exceptional chemical resistance and higher temperature resistance.

The others segment also held a considerable share and is expected to grow at a significant rate since some major materials constitute the others segment, which mainly includes polyethylene, foam, metal, glass cloth, and other woven and non-woven materials. These materials are also used considerably in the manufacturing of products since they provide flexibility and moisture resistance, cushioning and vibration dampening, high strength and heat resistance, durability, and heat dissipation to the adhesive tapes.

By End-use Industry Analysis

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Electric & Electronics Segment Held the Significant Share Owing to Rapid Growth of the Industry  

Based on end-use industry, the market is segmented into automotive, electric & electronics, medical, building & construction, and others.

The electric & electronics segment held a significant adhesive tapes market share in 2023 owing to higher demand for the product in the manufacturing of smartphones, tablets, laptops, LED TVs, and other electronic devices and household appliances.

The automotive segment held a significant share of the market in 2023 owing to different applications of the product in wire harnessing, interior, exterior, and others. 

Moreover, the versatility, durability, and hypoallergenic properties offered by adhesive tapes are driving their demand in the medical industry.

In the construction industry, tapes are widely used for bonding, sealing, and mounting applications. They offer quick solutions without the need for additional tools or equipment.

REGIONAL INSIGHTS

Based on geography, the market for adhesive tapes is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Asia Pacific held the largest share of the market for adhesive tapes in 2023 owing to the rapidly growing building and construction, automotive, medical, electric & electronics, and packaging industries in the region. The region is also anticipated to grow with the highest CAGR during the forecast period, owing to expanding industrialization, infrastructure development, and increasing demand from emerging economies, including India and China. 

North America held a considerable share of the global market in 2023 owing to the highly developed automotive and electric & electronics industries in the region. The region is also anticipated to witness a significant growth rate during the forecast period owing to increasing demand from industries such as construction, medical, automotive, packaging, and electronics. The region’s emphasis on innovation and product development, coupled with the rising adoption of adhesive tapes for various applications, including packaging, aerospace, and medical, further propels the market growth.

The market in Europe is growing at a considerable rate due to increasing demand from various industries, including automotive, medical, electronics, and packaging. Technological advancements such as the development of eco-friendly tapes also play a significant role. Moreover, stringent regulations regarding packaging and labeling further stimulate the growth of the market. In addition, the growing e-commerce sector is fueling demand for packaging tapes, contributing to the market expansion in the region.

Latin America and the Middle East & Africa are witnessing considerable growth in the market owing to rising industrialization and packaging demand. Government regulations, economic stability, and competition from alternative packaging solutions are some of the factors affecting the market growth in the region. Rising building & construction, and automotive industries are expected to drive market growth in these regions.

List of Key Companies in Adhesive Tapes Market

Companies are Focusing on Development of Sustainable Products to Gain a Competitive Edge

The adhesive tapes market is moderately fragmented, with prominent players, including 3M, Nitto Denko Corporation, Tesa SE, and Lintec Corporation, holding a considerable share. Other key players in the market include Avery Dennison Corporation, Sika AG, Saint-Gobain, Scapa, Henkel AG, Coroplast Tape Corporation, and certoplast Technische Klebebänder GmbH. The majority of the players operating in the market are focusing on the development of sustainable products to attract environmentally conscious customers and gain a competitive edge in the market. 

LIST OF KEY COMPANIES PROFILED:

• Tesa SE (Germany)


• 3M Company (U.S.)


• Arkema S.A. (France)


• Nitto Denko Corporation (Japan)


• Avery Dennison Corporation (U.S.)


• Sika AG (Switzerland)


• Saint-Gobain (France)


• LINTEC Corporation (Japan)


• Scapa (U.K.)


• Henkel AG (Germany)


• Coroplast Tape Corporation (Germany)


• certoplast Technische Klebebänder GmbH (Germany)

KEY INDUSTRY DEVELOPMENTS:

• April 2023: Tesa SE launched "Tesa 60408", which offers several sustainable features, including a paper backing and a natural rubber adhesive with a 100% bio-based resin. The tape is recycling-friendly and can be disposed of with the cardboard box without compromising everyday recycling processes according to INGEDE Method 12.


• February 2023: 3M announced the launch of its new adhesive, 3M Medical Tape 4578. It adds the feature of liner-free stability, which can be stored for up to one year, giving device makers more flexibility in the design process.


• August 2022: LINTEC announced that it is investing approximately USD 32.5 million in the Agatsuma Plant. The investment will cover installing new state-of-the-art production equipment for related tapes essential to the semiconductor manufacturing process and mounting to increase production capacity and further boost product quality.


• June 2022: Henkel broke ground on a new manufacturing facility of its Adhesive Technologies business unit in Shandong Province, China. The new facility will be constructed with a total investment of approximately USD 125.9 million. The new plant, named ‘Kunpeng’, will enhance Henkel's production capacity of high-impact adhesive products in China and further optimize the supply network better to meet the growing demand from domestic and international markets.


• May 2021: Arkema announced that Bostik would expand its offerings in high-performance adhesives in the U.S. with the planned acquisition of Edge Adhesives Texas, a complementary asset in hot-melt adhesives and pressure-sensitive adhesive tapes for residential construction.

REPORT COVERAGE

The research report provides both qualitative & quantitative insights into the market across the world. Quantitative insights include market sizing in terms of value (USD Billion) across each segment and region profiled in the scope of the study. In addition, it provides market analysis and growth rates of segments and key counties across each region. Qualitative insight covers the elaborative analysis of key market drivers, restraints, growth opportunities, and market trends. The competitive landscape section covers detailed company profiling of the key players operating in the industry.

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Report Scope & Segmentation