According to The Insight Partners’ research, the global adhesive tapes market was valued at US$ 60,922.61 million in 2020 and is expected to reach US$ 89,440.92 million by 2028 to rise at an annual growth rate of 5.1% from 2021 to 2028. A wide range of applications and growing demand from the automotive industry in Asia Pacific are the potential factors attributed to the market expansion.

Adhesive tapes and films are used to bond or join the objects instead of using screws, fasteners, or welding. The tapes protect the surface and are useful in various industries such as packaging, healthcare, automotive, electrical, and construction. They are used as an alternative to liquid adhesives, which are messy and takes time for spraying or rolling on the surface. In healthcare sector, tapes are used for wound dressings, surgeries, splints, surgical containers, etc. In the construction industry, the applications they serve are wall coverings, decorative trims, mounting component on doors and windows, panels, frames, and others.

Apart from construction, electronics, printing, and healthcare, adhesive tapes find vast applications in the growing automotive sector. In Asia Pacific, the countries such as India, China, Vietnam, South Korea, Indonesia, and Taiwan are witnessing a boom in automotive industry due to substantial foreign direct investment. Automobile sales in Asia Pacific witnessed a growth of more than 6.52% during 2012–2018. Adhesive tapes are used to assemble various components on the production line. They firmly fasten the screws and bolts to accommodate the seats and dashboards in their places easily. Besides, they are used for fabric attachment on instrument panel, steering wheel wrapping, and mounting rubber and plastic profiles in the vehicle’s interior. Such a wide range of industrial applications bolsters the global adhesive tapes market.

However, the fluctuation in raw material prices hinders the growth of global adhesive tapes market.

Based on resin type, the market is fragmented into acrylic, rubber, silicone, and others. The rubber segment led the market in 2020 with 41.9% share of the business. It garnered US$ 25,514.34 million in 2020 and is projected to generate US$ 37,189.63 million by 2028 to grow at 5.0% CAGR during 2021–2028.

By technology, the global adhesive tapes market is categorized into water-based adhesive tapes, solvent-based adhesive tapes, and hot-melt-based adhesive tapes. The solvent-based segment occupied 47.9% market share in 2020. It accrued US$ 29,206.48 million in 2020 and is slated to amass US$ 42,776.94 million by 2028 to expand at 5.0% CAGR throughout the forecast period.

As per the tape backing material, the domain is split into polypropylene (PP), paper, polyvinyl chloride, and others. The polypropylene (PP) segment held 44.7% business share in 2020 with a revenue total of US$ 27,212.47 million and is forecasted to be worth US$ 40,188.14 million by 2028 featuring 5.1% CAGR along the forecast period.

In terms of application, the market segmentation comprises packaging, healthcare, automotive, electrical & electronics, building & construction, and others. With 32.4% market share, the automotive segment dominated the business in 2020. It was evaluated at US$ 19,763.20 million in 2020 and is predicted to be worth US$ 29,265.01 million by 2028, exhibiting a CAGR of 5.2% for the forecast period.

Our regional analysis states that Asia Pacific captured 46.8% share of the domain in 2020, accounting for US$ 28,511.78million. The regional business is likely to hit US$ 42,688.91 million by 2028, surging at 5.3% CAGR, the highest one, over the forecast period.

Key players dominating the global adhesive tapes market are 3M, Nitto Denko Corporation; Tesa SE; Avery Dennison Corporation; Intertape Polymer Group; Lintec Corporation; Berry Global Inc; Scapa; Lohmann GmbH & Co.KG; and Rogers Corporation, among others.

·         In March 2021, Avery Dennison Corporation acquired JDC Solutions, a private manufacturer of pressure-sensitive specialty tapes. These tapes are used in various high-value industrial applications.

·         In July 2019, Berry Global Inc acquired RPC Group Plc at approximately $ 6.5 billion. The acquisition created a leading global supplier of value-added protective solutions and one of the world’s largest plastic packaging companies.

·         In April 2021, Scapa acquired Schweitzer-Mauduit (SWM) International, a UK-based design and manufacturing solutions provider for healthcare and industrial market.