Forecasting the Future of the Adhesive Tapes Market: 2023-2030 Analysis

Adhesive Tapes Industry | Forecast 2030

The economic value generated by the adhesive tapes industry was estimated at approximately USD 72.20 billion in 2022. This economic output is an amalgamation of businesses that are involved in the manufacturing of adhesive tapes, distribution & supply, and various products of adhesive tapes.

The rising application of adhesive tapes in industries such as construction, automotive, aerospace, electrical, and sports propels the global demand for adhesive tapes. Furthermore, increasing penetration of health care and hospitality industries in major developing countries such as India, China, Mexico, and Brazil is expected to boost demand for adhesive tapes over the forecast period.

 

Access the Global Adhesive Tapes Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

 

Adhesive tapes are versatile and inexpensive, and they can be used for a variety of applications such as joining, masking, sealing, splicing, bundling, and surface protection. Adhesive tapes have grown in popularity since they do not require any machinery or specific tools to apply. They are light and compact and come in rolls that may be unwound as needed. Adhesive tape, unlike traditional mechanical fasteners such as screws and bolts, avoids the need to pierce or punch the substrate, causing stress on a surface. The aforementioned factors are expected to propel the adhesive tapes market.

 

Pressure Sensitive Adhesives Market Insights

The global pressure sensitive adhesives market size was valued at USD 12.3 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030. The market is anticipated to be driven by the significant demand for pressure sensitive tapes and labels from the packaging industry. Pressure Sensitive Adhesives (PSAs) are easy to use and have the ability to tackle adhesion challenges in a variety of Technology and coatings in packaging industry. Packaging requirements are becoming increasingly complex, especially in the food & beverages industry, due to product proliferation and rising competition. This will open new avenues for the market as PSAs offer the flexibility to meet these complex requirements. PSAs are also used in other industries, such as automotive, wherein it finds End-uses in safety and warning labels and component identification labels in the supply chain.

 

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Building And Construction Tapes Market Insights

The global building and construction tapes market size was estimated at USD 4.79 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2030. Market is expected to be driven by the rise of construction sector in emerging countries such as China, India, and Indonesia, which will increase demand for construction materials such as tapes throughout the projected period. Furthermore, rising demand for lightweight building materials is expected to fuel product growth. Building & construction tapes market is also expected to be driven primarily by increasing product demand by consumers and contractors in developed economies.

 

Unidirectional Tapes Market Insights

The global unidirectional tapes market size was valued at USD 274.7 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 16.3% from 2024 to 2030. The growing requirement for lightweight components in the automotive and aerospace industries is likely to fuel demand for unidirectional tapes (UD tapes) throughout the forecast period. Furthermore, the rising use of lightweight components across several manufacturing industries is expected to contribute to market growth. The increased use of unidirectional tapes in high-end automobiles and e-vehicles is predicted to boost their adoption in the automotive sector. The usage of a product in a car is helpful to reduce its weight, which further improves its economy and speed. Their use in e-vehicles helps to extend the range of vehicles on a single charge. Several governments, like India, Australia, and Canada, are launching steps to promote the use of e-vehicles, which will boost the need for unidirectional tapes.

 

Automotive Adhesive Tapes Market Insights

The global automotive adhesive tapes market size was estimated at USD 3.62 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030. Rapid replacement of nut bolt fasteners to reduce vehicle weight and improve aesthetics is expected to drive the tapes market over the forecast period. The market is likely to witness a growing demand from aftermarket sales as vehicle modifications and performance enhancements are considerably upscaling. Asian economies including Japan, South Korea, China, and India are anticipated to hold the majority of the electric vehicle production shares in the upcoming period. This is supported by a robust manufacturing industry, resource availability, skilled & low labor cost, and the presence of prominent automakers in the region. Technological developments by major automobile manufacturers in Europe and North America are expected to provide momentum to the market.

 

Go through the table of content of Adhesive Tapes Industry Data Book to get a better understanding of the Coverage & Scope of the study

 

UV Tapes Market Insights

The global UV (Ultraviolet) tapes market size was valued at USD 274.9 million in 2015. UV tapes are a part of pressure sensitive adhesive (PSA) tapes and are characterized by strong adhesion properties. These are used in the electronics industry for wafer dicing, back grinding, PCB grinding, and glass dicing applications. Growing electronics and semiconductor industries are expected to drive the market over the forecast period.

Polyolefin (PO) UV tapes segment held the largest share in the U.S. in 2015. They are known to exhibit strong adhesion properties, along with superior performance in extreme heat and pressure, a courtesy which, they were most widely used. Growing demand for polyolefin UV tapes in the wafer dicing application is expected to drive the industry over the forecast period.

 

Competitive Insights

The global adhesive tapes market is moderately competitive, with established players having significant experience, enabling them to devise better growth strategies as compared to other players. Companies such as Avery Dennison, 3M, Scapa, and Jostick Adhesive are integrated across the value chain, which enables them to have control over the raw material supply. These integrated companies can reduce the overall production cost through captive consumption, which leads to a higher profit margin.

 

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