Sustainable Packaging Is The Fastest Growing Segment Fueling The Growth Of Adhesive Tapes Market

https://www.coherentmarketinsights.com/market-insight/adhesive-tapes-market-5411
Adhesive Tapes Market 



The global Adhesive Tapes Market is estimated to be valued at US$ 54027.73 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview

Adhesive tapes are flexible strips or rolls of backing material coated with an adhesive. They are used for sticking, fixing, sealing, marking and decorating surfaces. They find wide applications in packing, healthcare, electrical & electronics, white goods and stationery among others.

Market key trends

One of the key trends in the market is growing demand from the sustainable packaging segment. With rising environmental concerns, packaging manufacturers are emphasizing on reducing plastic waste and using eco-friendly materials. Adhesive tapes made from recycled or biodegradable materials are gaining popularity as they aid in creating sustainable packaging solutions. Major tape manufacturers are introducing product lines focused on sustainability to cater to changing consumer preferences for green packaging. For instance, tesa SE offers Biofiba tapes made from bio-based raw materials that provide strong, reliable bonds and completely biodegrade within 12 months after use.

Segment Analysis

The global adhesive tapes market is segmented based on resin type, technology, backing material, end-use industry and geography. Based on resin type, acrylic is the dominating segment accounting for over 30% share of the global market. Acrylic adhesive tapes exhibit superior qualities such as better adhesion to various surfaces and easier removability which has increased its demand over other resin types.

Key Takeaways

The global Adhesive Tapes Market Size was valued at US$ 54,027.73 Mn in 2023 and is expected to witness high growth, exhibiting a CAGR of 3.9% over the forecast period, due to increasing demand from packaging industry for sealing and binding applications.

The Asia Pacific region dominated the global market in 2023 with over 35% market share and is expected to continue its dominance over the forecast period. Rapid industrialization and growing end-use industries such as construction, automotive and electronics in countries such as China and India are driving the growth of adhesive tapes market in the region.

Key players operating in the adhesive tapes market include 3M, Avery Dennison Corporation, DuPont, HB Fuller Company, Henkel AG & Co. KGaA, Intertape Polymer Group, Lintec Corporation, Nitto Denko Corporation, OJI, Holding Corporation, Scapa Group Plc, Sekisui Chemical Co. Ltd, Shurtape Technologies LLC, Sika AG, and TESA SE. 3M is currently the global leader with over 20% market share owing to its diverse adhesive tape product portfolio and strong global distribution network.

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