PUNE, India, July 9, 2018 /PRNewswire/ --
According to the new market research report "Non-woven Tape Market by Adhesive Type (Acrylic, Rubber, Silicone), Backing Material (Polyester, Paper), End-use industry (Medical & hygiene, Electrical & electronics, Automotive & transportation), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the non woven tape market is estimated at USD 3.17 billion in 2018 and is projected to reach USD 4.55 billion by 2023, at a CAGR of 7.46% between 2018 and 2023. Non woven tapes are specialty pressure-sensitive adhesive tapes, which are coated with an adhesive type (acrylic, rubber, and silicone) on nonwoven backing materials such as polyester and paper. The wide acceptance of non woven tapes in industries such as medical & hygiene, automotive & transportation, and electrical & electronics is mainly driving the market growth.
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Based on adhesive type, the silicone segment is expected to grow at the highest CAGR during the forecast period.
The silicone segment is projected to grow at a higher rate than the other adhesive types because of its better performance on low surface energy substrates. Silicone-based non woven tapes maintain adhesion over a larger temperature range and possess the ability to adhere to difficult surfaces. These factors are expected to drive the market for silicone-based non woven tapes during the forecast period.
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Based on backing material, the paper segment of the non woven tape 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 2018 to 2023 as it is cheaper and recyclable. It is most widely used for adults and infants with sensitive skin and for applications such as dressing and fixation of tubes in the medical & hygiene industry. Aging population; rising incidences of chronic diseases; increasing awareness toward personal & hygiene care; and high demand from Europe, APAC, and North America are expected to drive the demand for paper-backed non woven tapes, globally.
The non woven tape market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
The non woven tape market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period, due to the rising demand for non woven tapes from emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. China is leading the market for non woven tapes in the Asia Pacific region. Continuous growth in capital health expenditure and increase in production of automobiles and electronics are driving the non woven tape market.
3M Company (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), LINTEC Corporation (Japan), Tesa SE (Germany), Scapa Group Plc (UK), PAUL HARTMANN AG (Germany), Nichiban Co., Ltd. (Japan), Teraoka Seisakusho Co., Ltd. (Japan), Intertape Polymer Group, Inc. (Canada), and Berry Global Group, Inc. (US), are some of the key players operating in the non woven tape market.
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