Categories: Chemicals

Adhesive Tapes Market Growth Trajectory Through 2024-2033

The Adhesive Tapes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Adhesive Tapes Global Market Report 2024, The adhesive tapes market size has grown strongly in recent years. It will grow from $70.71 billion in 2023 to $76.29 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to industrial growth, packaging industry boom, automotive manufacturing, electronics and electrical industry, increased medical and healthcare applications.

The adhesive tapes market size is expected to see strong growth in the next few years. It will grow to $103.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to repair and maintenance needs, increasing use in automotive manufacturing, infrastructure rehabilitation, rapid urbanization, electrification in vehicles. Major trends in the forecast period include advancements in tape technology, flexible packaging, customization and personalization, automotive lightweighting, green and sustainable solutions.

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. Adhesive tapes are lightweight, compact, and smooth, making them ideal for use in car interiors for bonding of electronic products, parking sensor retainers, door cladding, spoiler and seals among others. The global passenger car market is expected to increase from $1321.7 billion in 2020 to $1988.7 billion by 2025. Due to an increased affinity for lightweight, metal fasteners are increasingly being replaced in cars with adhesive tapes, thus, the increased production of automobiles will lead to a rise in the demand for adhesive tapes and boost their sales.

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The adhesive tapes market covered in this report is segmented –

1) By Resin Type: Acrylic, Rubber, Silicone, Other Resin Types

2) By Material Type: Polypropylene (PP), Paper, Polyvinyl Chloride (PVC), Other Material Types

3) By Technology Type: Solvent-Based, Hot-Melt Based, Water-Based

4) By End Use: Packaging, Consumer and Office, Healthcare, Automotive, Electrical and Electronics, Building and Construction, Other End Uses

Major companies operating in the adhesive tapes market are focusing on developing advanced adhesive tape such as reinforcing tape to provide reliable services to customers. A reinforcing tape describes a fabric that has one side coated in a sticky, waterproof adhesive that adheres to the substrate immediately upon application. For instance, in November 2023, tesa tape Asia Pacific Pte Ltd, a Germany-based manufacturer of innovative adhesive tapes and self-adhesive product solutions, launched the new Tesa 51345, a paper-based reinforcing tape that can be used to reinforce packaging or cartons in sensitive areas such as side holes, flaps, or carrying handles. It can be applied during the corrugated cardboard manufacturing process or the subsequent processing of cartons and packaging using standard applicator systems.

The adhesive tapes market report table of contents includes: