Adhesive Tapes Market and its key opportunities and challenges

PUNE, India, 2019-Dec-23— /EPR Network/ —  The Adhesive Tapes Market was valued at USD 48.56 Billion in 2016 and is projected to reach USD 69.42 Billion by 2022, at a CAGR of 6.26% during the forecast period, as per a report by MarketsandMarkets.

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Why advancement in adhesive tapes technology can trigger more opportunities?

The demand for biodegradable and eco-friendly adhesive tapes has increased in the past few years due to stringent environmental regulations and consumer preference. Hence, new types of biodegradable adhesive tapes are being developed. For commodity adhesive tapes, the innovation of hot-melt-based technology enables an adhesive tape manufacturer or converter to coat an adhesive on a backing like oriented polypropylene (OPP) film without any release of solvents or water. The shift toward hot-melt-based systems is especially increasing in APAC. Innovations such as curable adhesives (UV- and EB- for both rubber and acrylic systems) are intended more for specialty adhesive tapes. These factors are providing market players with opportunities to manufacture innovative products for diverse applications.

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How implementation of stringent regulatory policies remains a challenge?

The chemical industry is facing challenges from regulatory authorities such as Control of Substances Hazardous to Health (COSHH), European Union (EU), Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), Globally Harmonized System (GHS), and Environmental Protection Agency (EPA) in Europe and North America. The manufacturers in Europe and North America are following these regulations regarding the production as well as usage of adhesive tapes for various applications to reduce the emission of VOCs. These regulations require manufacturers to shift from solvent-based to water-based adhesive tape, which is a big challenge for the manufacturers. This has affected the production of companies who were mainly manufacturing adhesive tapes through the solvent-based technology.

Bundle Report:

• Adhesives Sealants Market
• Adhesive Resin Market
• Bonding Films Market
• Medical Adhesive Tapes Market
• Waterproof Tapes Market

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