PUNE, India, April 10, 2018 /PRNewswire/ --
The report "Adhesive Tapes Market by Resin Type (Acrylic, rubber, silicone), Technology (Solvent, Water and Hot-Melt-Based), Substrate (PP, Paper, PVC), Application (Packaging, Healthcare, Electrical & Electronics, Automotive), and Region-Global Forecast to 2022", published by MarketsandMarkets™, the Adhesive Tapes Market is estimated to be USD 51.25 Billion in 2017 and is projected to reach USD 69.42 Billion by 2022, at a CAGR of 6.26% between 2017 and 2022. Adhesive tapes are defined as a continuous, flexible backing material of paper, plastic, cloth, metal, or foam, which is coated on one or both sides with an adhesive. Adhesive tapes are classified into 2 categories, namely, commodity adhesive tapes and specialty adhesive tapes. Commodity adhesive tapes include packaging, masking, and consumer & office tapes. Specialty adhesive tapes are used in various applications, such as healthcare, electrical & electronics, automotive & transportation, white goods, paper & printing, building & construction, and retail.
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Based on resin type, the silicone segment is expected to grow at the highest CAGR during the forecast period.
Silicone-based adhesive tapes are non-conductive in nature. Key properties of silicone-based adhesive tapes include low chemical reactivity, low toxicity, and high gas permeability, which make these tapes suitable for medical applications. Over the past few years, the demand for silicone-based adhesive tapes has been increasing in various end-use industries.
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Based on technology, the hot-melt segment of the Adhesive Tapes Market is expected to grow at the highest CAGR during the forecast period.
The hot-melt technology segment is projected to witness the highest growth during the forecast period. Hot melt adhesive tapes are the fastest-growing class of adhesive tapes in healthcare application. These adhesive tapes have an extreme rate of bond formation, which can translate into high production rates. In the US, hot-melt technology is widely used in tape production by key players, such as 3M Company (US) and Intertape Polymer Group, Inc. (Canada).
Based on backing substrate, the paper segment of the Adhesive Tapes Market is expected to grow at the highest CAGR during the forecast period.
The paper segment is projected to grow at the highest CAGR from 2017 to 2022. Smooth or crepe paper with different elongation degrees and tensile strengths are used as a backing material for adhesive tapes. Paper adhesive tapes are used in healthcare, automotive, electrical & electronics, and building & construction industries.
The Adhesive Tapes Market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
The Adhesive Tapes Market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period, due to the rising demand for adhesive tapes from emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. China is leading the market for adhesive tapes in the Asia Pacific region. The growth of various end-use industries, such as packaging, healthcare, electrical & electronics, building & construction, and automotive is projected to drive the demand for adhesive tapes in China.
3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), Avery Dennison Corporation (US), Shurtape Technologies, LLC (US), Scapa Group Plc (UK) are some of the key players operating in the Adhesive Tapes Market.
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