Adhesive Tapes Market is Predominantly led by the Spurring Rise at a CAGR of 5.4% by 2030 in the Packaging Industry | Market Research Future Releases Forecast for 2022 – 2030

Insights from Future Market Research

The Adhesive Tapes Market perceives exponential traction. It is an application-based market and relies heavily on its usage across sectors like food & beverages, construction, and automotive, driving the market demand. Besides, the market growth attributes to the spurring rise in packaging and healthcare industries worldwide. The increasing consumption of adhesive tapes across all the sectors, both as commodity tapes and specialty tapes, escalate market growth.

According to Market Research Future (MRFR), the global adhesive tapes market is projected to cross a valuation of USD 79.9 billion by 2030, registering approximately 5.4% CAGR during the review period (2022 -2030). Versatile adhesive tapes suit a range of tasks and provide long-term, effective insulation. As a result, Adhesive tapes enjoy colossal prominence, and its market garners exponential traction globally. Additionally, robust growth in the construction industry boosts the market demand.

Furthermore, advances in adhesion techniques and increasing demand for effective and advanced adhesion technology boost the market size. The augmenting demand for sustainable and environment-friendly adhesive tapes due to environmental regulations and consumer preference propels the market growth on a large scale.

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Regional Analysis:

Asia Pacific (APAC) is the fastest growing market for adhesive tapes and the share is attributed to the growing healthcare market. There is growing awareness among the consumers about health and fitness. This fuels the demand for such tapes in healthcare sector from the region. Also, increased investments in infrastructure and construction to support the large population and urbanization can drive the demand for adhesive tapes in construction sector.

However, North America was valued to have the largest market share in 2021 and is expected to expand in size in the coming years. Rising production of vehicles running on fossil fuel and alternative fuel can drive the regional market demand. Developed regions of the U.S. and Canada and expansion of healthcare and automotive sectors can bolster the need for adhesive tapes. It is followed by Europe which is expected to grow steadily over the forecasted period.

The Europe adhesive tapes market is driven by its demand in electrical and electronic sectors. The economic growth of nations and the surge in disposable income levels are critical drivers of the regional market. Hot-melt and solvent technologies are highly used in the region. The slow resurgence of the real estate sector can be opportune for the market to expand gradually.

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Market Segmentation:

The global adhesive tapes market is segmented by material, technology, and application.

By material, it is segmented into paper, polyvinyl chloride, and polypropylene. The polypropylene segment is expected to capture a large market share owing to its use in automotive adhesive tapes. The bonding of electrical components can facilitate the segment growth.

By technology, it is segmented into solvent, hot melt, and others.

By application, it is segmented into construction, healthcare, food & beverages, packaging, and others. The healthcare segment is expected to gain the lead in the global adhesive tapes market owing to use in monitoring electrodes, surgical containers, and other medical devices.

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Key Players:

3M Company (US), Rogers Corporation (US), Tesa SE (Germany), Scapa Group PLC (Canada), Nitto Denko Corporation (Japan), Lintec Corporation (Japan), Berry Inc. (US), Intertape Polymer Group (Canada), Lohmann GmbH (Germany), and Avery Dennison Corporation (US)

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