Global Adhesive Tapes Market: Highlights
· Theglobal adhesive tapes market isprojected to grow at a CAGR of more than 6.5% between 2019 and 2027. Themarket’s growth is also the result of growing use of these tapes in industrieslike automobiles and manufacturing. These industries implement adhesive tapesin various applications like fixing a leak, placing dashboards and variousothers.
· Shifttowards miniaturization of electronic devices is likely to drive globaladhesive tapes market. Rising disposable income and changing lifestyles ofpeople coupled with increased dependence on the use of electronic devices isthe reason for high increase in sales of electronic devices across the world.Adhesive tapes acts as a substitute for screws and fasteners.
· Increasinguse of adhesive tapes in automotive interior parts to provide better resistanceand excellent adhesion ability is likely to propel the adhesive tapes marketduring the forecast period
· Environmentalregulations affect the pressure-sensitive tape technology in two areas:manufacturing process and product design. While forming an adhesive layer onthe backing material, adhesives such as low-viscosity natural rubber and resinsare coated by solvents such as xylene and toluene. Without proper containmentdevices, these solvents are simply released into the atmosphere. Moreover,energy required to evaporate these solvents emits carbon dioxide into theatmosphere.
Global Adhesive Tapes Market: Segmental Trends
· In termsof volume, automotive segment accounted for major share in global adhesivetapes market in 2018. This is because, it uses these tapes invarious applications such as placement of dashboards, insulating electricwires, and holding slots for connectors in the vehicles. These applications inthe automotive industry are expected to make it the fastest growing segment inthe global adhesive tapes market from 2019 to 2027.
· Electronicindustry is also a major contributor to the growth of global adhesive tapesmarket. The industry uses these tapes in forms of insulators and collectors forthe electronic components to be used in a device. The adhesive tapes are madefrom compounds like rubber, acrylic, and silicon, which are some of the bestinsulators. Moreover, the flexibility offered by these tapes also plays acrucial role in fueling their use in electronic devices. Based on theseapplications and benefits the electronic industry is projected to fuel thegrowth of global adhesive tapes market from 2019 to 2027.
· Polypropyleneis the major backing materials used for adhesive tapes. It accounted for morethan 60% volume share in global adhesive tapes market in 2018. Thedemand for the same is driven by specialty tapes such as double coated,transfer and masking tape.
· Acrylicbased adhesive tapes are widely used especially in electrical and automotiveapplications. Acrylic adhesive tapes provide higher bonding strength toplastics and metals than any other product
· Siliconebased adhesive tapes are expected to grow at a decent pace over the forecastperiod. Silicone rubber offers excellent resistance to extreme high and lowtemperatures. These are widely used in applications such as portable heaters,flexible circuits, and silicone gaskets.
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Global Adhesive Tapes Market: Regional Highlights
· AsiaPacific lead the global adhesive tapes market, followed by Europe and NorthAmerica in 2018. Demand for adhesive tapes in the region isdriven by the recent technological advancements and easy availability of rawmaterial.
· Risingdemand for adhesive tapes in countries such as Brazil, Mexico, and Argentina isexpected to boost the adhesive tapes market in Latin America. Demand foradhesive tapes in Middle East & Africa is driven by the emerging industrialand consumer products segments.
· NorthAmerica and Europe are mature markets for adhesive tapes with presence ofvarious small scale players and local manufacturing facilities. The U.S. andItaly are among the key producers of adhesive tapes.
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Key Developments in Global Adhesive Tapes Market
· On March22, 2019, Saint-Gobain launched a new tape product called Norbond A7600,which is a high-performance gray acrylic foam tape for use in trailer andspecialty vehicle bonding applications. It is 1.1 mm inthickness.
· On August3, 2018, Intertape Polymer Group acquired Polyair for US$ 145.0Mn. The latter is engaged in the protective packaging business, withits seven manufacturing facilities and a distribution center located acrossNorth America. Polyair's key products include bubble cushioning, foam, and airpillow systems.
· On July23, 2018, Lintec Corporation launched new blue-colored and red-coloredproducts to the non-transfer type tamper-evident label stocks. This productprevents surreptitious opening of duty-free bags and pharmaceutical outerpackaging.
· In September2017, Avery Dennison Corporation acquired Yongle Tape Company Ltd., aChina-based manufacturer of specialty tapes and related products for theindustrial sector. In 2017, Avery Dennison Corporation acquired thenet assets of Hanita Coatings Rural Cooperative Association Limited and a fewof its subsidiaries.
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Global Adhesive Tapes Market: Competition Landscape
· Majorcompanies dominating the global adhesive tapes market are Advance TapesInternational, NICHIBAN CO., LTD., CMS Group of Companies, Lohmann GmbH& Co.KG., and Surface Shields.
· Majorplayers of the market are focusing in manufacturing more innovative products soas to draw more revenue and surge the demand for adhesive tapes in the market.New techniques are being adopted in order to enhance the capacity of productionand so as to develop new techniques and to draw more revenue into the market.
· Leadingvendors of the adhesive tapes market are also focusing on new merger andacquisition strategies in order to boost the market globally. The high rate ofraw materials are making it difficult for new players to enter the market butthe manufacturers who are already established take this as an opportunity andconsider it as a boon in order to boost their product in the market andattract more revenue share in the market.
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