Adhesive Tapes Market Reached to Touch USD 87.67 Billion by 2030; Increasing Demand from Expanding E-commerce Business to Propel Market Growth

The global adhesive tapes market size was valued at USD 58.73 billion in 2023. The industry is expected to expand from USD 62.04 billion in 2024 to USD 87.67 billion by 2030, exhibiting a CAGR of 5.9% over the study period.

Adhesive tapes are flexible materials having three main elements, namely, a release liner, a backing material, and an adhesive layer. The growing demand for sustainable tapes is accelerating market growth. Substitutes obtained from renewable resources, including bio-based adhesives and backing materials derived from recycled materials or plant fibers are being explored by tape manufacturers.

In 2019, the COVID-19 pandemic led to an adverse influence on the market attributed to the slowdown of operations by the significant end-use industries of tapes, such as electric & electronics, building & construction, and automotive. However, in late 2020, the economy witnessed a revival, which started the recovery of the market with a considerable growth rate.

Fortune Business Insights provides this information in its research report, titled “Adhesive Tapes Market Size Report, 2024-2030”.

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Adhesive Tapes Market Segmentation:

Cost-effective Feature of Polyvinyl Chloride to Fuel Segment Growth

By material, the market is segregated into PP, polytetrafluoroethylene, polyvinyl chloride, PET, paper, and others. The polyvinyl chloride segment registered the largest share in 2023. Polyvinyl chloride tapes have a cost-effective nature, which is driving the segment expansion.

Electric & Electronics Segment Secures Key Share Owing to Product’s High Demand in Tech Gadgets

In terms of end-use industry, the market is divided into medical, building & construction, automotive, electric & electronics, and others. With escalating demand from home appliances and electric gadgets for adhesive tapes, the electric & electronics segment held optimum market share in 2023.

Regionally, the market is classified into the Middle East & Africa, Latin America, North America, Asia Pacific, and Europe.

List of Key Players Mentioned in the Adhesive Tapes Report:

• Tesa SE (Germany)
• 3M Company(S.)
• Arkema S.A.(France)
• Nitto Denko Corporation(Japan)
• Avery Dennison Corporation(S.)
• Sika AG (Switzerland)
• Saint-Gobain(France)
• LINTEC Corporation (Japan)
• Scapa (K.)
• Henkel AG(Germany)
• Coroplast Tape Corporation (Germany)
• certoplast Technische Klebebänder GmbH (Germany)

Adhesive Tapes Market Report Coverage

The competitive strategies adopted by leading companies to capture the largest share have been mentioned in the report. Besides this, the report provides vital insights into the major factors impacting the market. It also highlights the latest trends, the COVID-19 pandemic impact, notable industry developments, and restraining factors expected to hinder the market growth during the forecast period.

Drivers and Restraints:

Growing Demand from Expanding E-commerce Business to Expedite Market Growth

The adhesive tapes market growth is driven by a rise in the demand from the growing e-commerce business. Businesses encounter the issue of packaging products for shipping securely due to the inclination toward the convenience of online shopping by consumers. As a result, the growth in e-commerce activity has resulted in a substantial rise in the demand for packaging materials, such as adhesive tapes, which have a vital role in sealing parcels, envelopes, and corrugated boxes for the safe delivery of items to customers.

Despite such growth opportunities, the dynamic prices of raw materials may hinder market expansion.

Regional Adhesive Tapes Market Insights:

Asia Pacific Commands Market Due to the Growing Industrialization

Asia Pacific accounted for the largest adhesive tapes market share in 2023. The region is also poised to expand at the highest CAGR during the forecast period. This is on the back of growing demand from emerging nations, such as China and India, infrastructure development, and rising industrialization.

Europe market for adhesive tapes is expanding at a considerable rate owing to the growing demand from different industries, such as packaging, medical, electronics, and automotive.

Competitive Landscape:

Prominent Companies Focus on Acquiring Certification for Their Products to Strengthen Their Position

Sika AG, Avery Dennison Corporation, Scapa, Henkel AG, Saint-Gobain, certoplast Technische Klebebänder GmbH, and Coroplast Tape Corporation are some of the leading companies in the market. Most companies are emphasizing the creation of sustainable products to attract environmentally conscious consumers while achieving a competitive edge. A wide array of companies are focusing on acquiring certifications for their products to boost their position.

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Key Adhesive Tapes Industry Development:

May 2023: The Nitto Group unveiled the certification of bio-based adhesive tape. Moreover, these tapes lead to resource recycling with bio-based adhesive and recycled film. The company also declared the certification of five new products.

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