NEW YORK, Oct. 12, 2016 /PRNewswire/ --
"Global adhesive tapes market is projected to register a CAGR of 5.50%"
The global adhesive tapes market size is estimated to reach USD 61.86 billion by 2021, at a CAGR of 5.50% between 2016 and 2021. Their ability of sticking with application pressure, with or without the need for a solvent (such as water) or heat for activation performance properties are replacing the need for mechanical fasteners in many industries. The increasing demand for adhesive tapes in healthcare, automotive, building & construction, electrical & electronic industries is fueling the overall demand for adhesive tapes, globally.
The high price of tape backing materials, fluctuations in the cost of raw materials that are derived from crude oil, and recessionary effect on end-use industries are factors that restrain the growth of the market.
"Healthcare is the largest application of adhesive tapes"
Adhesive tapes are used in the healthcare sector for surgical containers, monitoring electrodes, and other medical devices. Healthcare adhesive tapes and adhesive plasters are a few of the pressure-sensitive adhesive tapes used in the medical industry. Currently, medical tapes are used in hospitals to cover wounds, for fixing cover shields during surgeries, and for cleaning purposes in antiseptic room entrances. In 2015, the healthcare application accounted for the largest market share, in terms of both value and volume. The adhesive tapes market in the healthcare segment is projected to witness the highest CAGR between 2016 and 2021, in terms of both volume and value.
"Rising demand in Asia-Pacific is the major driver of the adhesive tapes market"
The high demand in Asia-Pacific is expected to be the major driver of the global adhesive tapes market. China is expected to lead the Asia-Pacific market, in terms of demand for adhesive tapes, due to increase in the capacity expansion of adhesive tapes by key players in the country since the last 3–4 years. It is also among the leading emerging markets of adhesive tapes, globally. The markets in other emerging economies such as Brazil, India, and Mexico are also expected to witness rapid growth.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 – 58%, Tier 2 – 33%, and Others – 9%
- By Designation - C level – 50%, D level – 33%, and Others – 17%
- By Region - North America – 33%, Europe – 30%, Asia-Pacific – 14%, South America – 14%, the Middle East -7%, and Africa -2%
The key companies profiled in this market research report are 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), and Scapa Group Plc (U.K.) among others.
From an insight perspective, this research report focuses on various levels of analysis—industry analysis (industry trends), market share analysis of key players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the adhesive tapes market in healthcare, electrical & electronic, and automotive industries; high-growth regions; and market drivers, restraints, and opportunities. The adhesive tapes market is segmented on the basis of type, coating technology, application, tape backing material, and region. The regional market is further analyzed for the key countries in each of these regions.
Reasons to buy the report
The report will help market leaders/new entrants in the following ways:
1. This report segments the adhesive tapes market comprehensively and provides the closest approximations of the market sizes for the overall market and the subsegments across different verticals and regions.
2. The report will help stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand the major competitors and gain additional insights to improve their position in the business. The competitive landscape section includes new product developments, investments & expansions, joint ventures, partnerships, contracts & agreements, and mergers & acquisitions.
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