Global Adhesive Tapes Industry Information by Material (Polypropylene, Paper, and Polyvinyl Chloride) by Technology (Hot Melt, Solvent, and others) by Application (Healthcare, Food & Beverages, Construction, Automotive, Consumer and others) and Region – Forecast to 2022
Adhesive Tapes Industry Synopsis
Adhesives are indispensable parts of industrial processes in different end-user industry verticals. The growth of these domains is prompting the expansion of the Adhesive Tapes Industry on the global front. This report by Market Research Future (MRFR) suggests that the global Adhesive Tapes Industry is presumed to expand at 5% CAGR during the forecast period. The market, in terms of revenues earned, is likely to touch a mark of USD 62 Bn by 2022.
Increasing applications across industries is anticipated to be the major driver of the Adhesive Tapes Industry over the next few years. In addition, the launch of highly efficient specialty tapes designed for specific industrial purposes is further projected to accelerate market growth in the years to come. The advantages offered such as durability, resistance, and flexibility are expected to dictate the expansion of the market in the forthcoming years.
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The exponential demand from the automotive industry is projected to play an important role in the proliferation of the Adhesive Tapes Industry. Also, the product is extensively used in the construction industry. Thus, rising demand for automobiles and increasing investments in construction activities is poised to catapult the Adhesive Tapes Industry on upward trajectory.
3M Company, Tesa SE, Avery Dennison Corporation, Nitto Denko Corporation, Henkel AG & Company KGaA, Lintec Corporation, Intertape Polymer Group, Shurtape Technologies LLC, Lintec Corporation, Lohmann GmbH & Co.KG., and Scapa Group Plc. are few of the eminent players of the Adhesive Tapes Industry. These players are anticipated to invest in new technologies that are more effective and efficient. This, in turn, is presumed to accelerate competitiveness among the players of the Adhesive Tapes Industry over the next couple of years. Some of the growth strategies to be employed by the key players in the market are – mergers & acquisitions, collaborations, product launches, strategic alliances, product portfolio development, etc.
O the basis of material, the global Adhesive Tapes Industry has been segmented into paper, polypropylene, and polyvinyl chloride.
Based on the technology, the Adhesive Tapes Industry has been segmented into solvent, hot melt, and others.
By application, the global Adhesive Tapes Industry has been segmented into consumer, food & beverages, construction, healthcare, automotive, and others.
The global Adhesive Tapes Industry is profiled in detail on the basis of regions. The four key regions identified in the analysis are – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regions are further narrowed down to the level of prime country-level markets. North America is expected to retain the pole position over the next couple of years. The growth of the industrial sector in the region is expected to drive growth of the regional market in the coming years. However, the residential applications of these tapes are also projected to cater to a considerable fraction of the total demand. It is anticipated to lead the expansion of the Adhesive Tapes Industry in the foreseeable future. Asia Pacific is observed to be witnessing rapid developments. It can be accredited to the rising developments in the industrial sector. Increasing urban population in the region is poised to drive the demand for residential applications, thus, supporting market growth.
In September 2019, Avery Dennison Performance Tapes, based out of the U.S., has announced the launch of an updated global website for designers, engineers, converters, and specifiers.
In May 2019, Lohmann Technologies Medical Division, an adhesive specialist, has announced the launch of its latest surgical tape, DuploMED SUR 624000, at Med-Tech Innovation Expo.
In April 2019, 3M company, an American multinational conglomerate corporation, has announced the launch of role adhesives for wearables, Extended Wear Medical Transfer Adhesive 4075.
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