The adhesive tapes market size is estimated to grow from USD 47.33 Billion in 2016 to USD 61.86 Billion by 2021, registering a CAGR of 5.50% between 2016 and 2021.
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The growing demand from healthcare, electrical & electronic, automotive, building & construction, and other applications is driving the global adhesive tapes market. Rising awareness of high-quality PVC and foam-based products along with increasing demand in Asia-Pacific that is fueled by their increasing population are driving the market.
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Healthcare is the largest application for adhesive tapes
Adhesive tapes are used in various applications such packaging, masking, electrical & electronic, healthcare, automotive, white goods, paper & printing, and others. In 2015, the healthcare application accounted for the largest market share, in terms of both volume and value.
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The demand for healthcare adhesive tapes is driven by its use on surgical containers, monitoring electrodes, and other medical devices. Adhesive tapes are used in the healthcare application to cover wounds, for fixing cover shields during surgeries, and for cleaning purposes in antiseptic room entrances.
Specialty tape is the fastest-growing type of adhesive tapes
Specialty tape is the fastest-growing type of adhesive tapes, globally. This is because it is easy to handle, moderately priced, and exhibits good performance in a wide variety of applications such electrical & electronic, healthcare, automotive, white goods, paper & printing, and others.
The key driver for the growth is its increasing use in healthcare and building & construction applications and growing healthcare, manufacturing, and construction sectors in the Asia-Pacific region.
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Rising demand in Asia-Pacific is the major driver of the adhesive tapes market
In 2015, Asia-Pacific accounted for the largest market share, in terms of both volume and value. The high demand in Asia-Pacific is expected to be the major driver of the global Asia-Pacific market.
This is due to the increasing demand for quality adhesive tape products, rising population in the region, and growing innovation & developments in end-use industries, making it a strong industry hub.
The players profiled in the adhesive tapes market report 3M (U.S.), Nitto Denko (Japan), Tesa SE (Germany), Avery Dennison Corporation (U.S.), Henkel AG & Company, KGaA (Germany), Intertape Polymer Group (Canada), Lintec Corporation (Japan), Scapa Group Plc (U.K.), and other regional players.
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