Global Adhesive Tapes Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
7 Jun, 2021
The adhesive tapes market consists of sales of adhesive tapes by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling the adhesive tapes. Adhesive tapes are a combination of a material and an adhesive layer that can be used to join two objects or materials together. It consists of a pressure-sensitive adhesive, which is coated onto a backing material like paper, plastic film, cloth, or metal foil and has removable release liners protecting the adhesive before usage.
Global Adhesive Tapes Market Size And Drivers:
The global adhesive tapes market is expected to grow from $57.04 billion in 2020 to $61.01 billion in 2021 at a compound annual growth rate (CAGR) of 6.96%.The growth is mainly due to the increased demand for adhesive tapes from end-users like healthcare, electrical & electronics, and automotive industries. The adhesive tapes market is expected to reach $79.83 billion in 2025 at a CAGR of 7.0%. The growth of the automotive industry and the rapid rise in demand for adhesive tapes from the automotive sector worldwide are expected to propel the adhesive tapes market during the forecast period.
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Trends In The Global Adhesive Tapes Market
The launch of eco-friendly tapes is a key trend in the adhesive tapes market. Several countries around the world have banned the use of toxic materials used in the manufacture of adhesive goods. Increased demand for recyclable tapes has been driven by federal policies as well as a change in end-user emphasis toward environmentally sustainable goods. Many companies are shifting from plastic to bio-degradable materials like paper and cellulose for manufacturing tapes. In January 2020, Monta, a German-based manufacturer of self-adhesive tapes for packaging and consumer use, has introduced Monta Biopack, a modern self-adhesive tape. Monta Biopack is made up of about 90% renewable materials. This environmentally friendly adhesive tape biodegrades in a matter of months, closing the natural recycle circle.
Global Adhesive Tapes Market Segments:
The global adhesive tapes market is further segmented based on resin type, material type, technology, end use and geography.
By Resin Type: Acrylic, Rubber, Silicone, Others
By Material Type: Polypropylene (PP), Paper, Polyvinyl Chloride (PVC), Others
By Technology Type: Solvent-Based, Hot-Melt Based, Water-Based
By End-Use: Packaging, Consumer And Office, Healthcare, Automotive, Electrical And Electronics, Building And Construction, Others.
By Geography: The global adhesive tapes market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the adhesive tapes market in 2020.
Read More On The Report For The Global Adhesive Tapes Market At:https://www.thebusinessresearchcompany.com/report/adhesive-tapes-global-market-report
Adhesive Tapes Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides adhesive tapes market overviews, analyzes and forecasts market size and growth for the global adhesive tapes market, adhesive tapes market share, adhesive tapes market players, adhesive tapes market segments and geographies, adhesive tapes market’s leading competitors’ revenues, profiles and market shares. The adhesive tapes market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.