The Global Adhesive Tapes Market Growth Accelerated By Rising Demand From Construction And Automotive Industries
Adhesive tapes are reinforced materials used to bond or join two surfaces together tightly on contact. They are commonly used in construction, automotive, healthcare, and packaging industries. Adhesive tapes provide strong yet removable bond and are used widely as masking tapes, packaging tapes, electrical tapes, and double-sided tapes. They offer advantages like easy application, strong adhesion strength and clean removal without residue.
The global Adhesive Tapes Market is estimated to be valued at US$ 54027.73 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for adhesive tapes is rising significantly from the construction and automotive industries. In the construction industry, adhesive tapes are used for flooring, roofing, and other applications due to their durable bonding and moisture resistance properties. They provide a cost-effective solution for jointing and finishing of surfaces. Similarly, in the automotive industry, adhesive tapes are used extensively in vehicle interiors, exteriors, and other applications such as battery packaging. They help in fastening metal parts, electrical components, and plastic moldings inside vehicles. The global construction industry has been witnessing strong growth over the past few years. Additionally, the rising vehicle production is fueling the demand for adhesive tapes from the automotive industry. These factors are contributing significantly to the accelerated growth of the global adhesive tapes market.
Segment Analysis
Adhesives tapes market is segmented into commodity tape, specialty tape. Commodity tape accounts for more than 60% of market share. It is dominating because commodity tape finds wide applications in packaging, masking, and splicing due to its low cost.
Key Takeaways
The Global Adhesive Tapes Market Size is expected to witness high growth. The global Adhesive Tapes Market is estimated to be valued at US$ 54027.73 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
North America currently dominates the adhesive tapes market owing to high demand from packaging and automotive industries in the US and Canada. The Asia Pacific adhesive tapes market is projected to grow at the highest CAGR during the forecast period. In the Asia Pacific region, China accounts for the major share of demand for adhesive tapes owing to strong growth in the packaging and automotive industries. India is also expected to witness significant demand for adhesive tapes from 2025 onwards with rising industrial and infrastructure development activities in the country.
Key players related content comprises
Key players operating in the adhesive tapes market are Swiggy, Zomato, Deliveroo, Uber Eats, DoorDash, Grubhub, Just Eat, Takeaway.com, GojekGrab, Foodpanda. These companies are focusing on new product launches catering to different end-use applications to strengthen their market position. For instance, in 2023, Swiggy launched its new cold chain solution to help restaurants and dark stores transport items needing frozen or chilled conditions.
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