ALBANY, New York, December 6, 2016 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Adhesive Tapes (Product - Single Coated, Double Coated, Transfer Tape, Foam Tape; Composition - Acrylic, Rubber, Silicone, Others; Backing Material - Polypropylene, Paper, Polyvinyl Chloride, Others) Market for Health Care, Building & Construction, Consumer Goods, Automotive, Graphics, and Others - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024." According to the report, the global Adhesive tapes market was valued at US$ 51,542.0 Mn in 2015 and is estimated to reach US$ US$ 92,367.5 Mn by 2024, expanding at a CAGR of 6.8% between 2016 and 2024.
Adhesive tapes is a universal commodity employed for bonding and sealing applications. Adhesive tapes are widely used for packaging, sealing, labeling, electrical insulation, stationery, and other general purpose applications. These tapes are based on many kinds of pressure sensitive adhesives where in adhesive is applied on one side or on both sides. They can be easily put on any surface very conveniently by applying slight pressure either mechanically or manually.
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The adhesive tapes market has been segmented on the basis of product, composition, backing material and end use. In terms of product, the adhesive tapes market has been bifurcated into single coated, double coated, transfer and foam tape. Based on composition, the market has been segmented into acrylic, rubber, silicone and others. On the basis of backing material, the market has been segmented into polypropylene, paper, polyvinyl chloride and others. In terms of end use, the market has been classified into health care, building & construction, consumer goods automotive, graphics and others. Single coated tapes was the leading product segment of the adhesive tapes market in 2015. The segment accounted for more than 50% share the global volume in 2015. In terms of revenue, double coated tapes segment is expected to be the key product segment in terms of growth, expanding at a substantial CAGR during the forecast period.
Asia Pacific led the global adhesive tapes market with a share of more than 40% in 2015. The demand in this region is driven by the growing economies such as India, China and South East nations. The increasing number of population, rapid industrialization, technological advancement, availability of raw material, strong manufacturing base particularly in China and Japan are the few factors favoring the growth of adhesive tapes market in the region. Asia Pacific is expected to capture significant market share in future growing at a significant CAGR during the forecast period. The adhesive tapes market in North America is likely to witness significant growth during the forecast period due to surging automotive sector and increasing use of adhesive tapes in place of mechanical fasteners. In terms of revenue, Europe held a significant share in the adhesive tapes market in the year 2015. Higher purchasing power of consumers, and expansion in consumer goods industry is likely to drive the adhesive tapes industry in the region. The countries such as Italy, Germany, Czech Republic, Hungary and Poland are growing packaging markets which in turn is likely to boost the demand for packaging tapes in the region. Latin America led by the expansion of manufacturing and construction activities in Brazil and Mexico is likely to boost the demand for adhesive tapes during the forecast period.
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The Middle East & Africa currently accounted for only 3.79% of the market share in terms of revenue. However, emerging markets for adhesive tapes in the regions such as Egypt, GCC countries and South Africa are expected to drive the demand for adhesive tapes in the region.
Key players in the adhesive tapes market profiled in the report include 3M, Nitto Denko Corporation, Kruse Adhesive Tape, Saint-Gobain, Surface Shields, CCT Tapes, tesa SE, Scapa Group plc. Advance Tapes International, Vibac Group S.p.a., H.B.Fuller, CMS Group of Companies, Lohmann GmbH & Co.KG., K.L. & Ling, NICHIBAN CO., LTD.
The report segments the global Adhesive tapes market as follows:
Adhesive Tapes Market: Product Analysis
- Single Coated
- Double Coated
- Transfer Tape
- Foam Tape
Adhesive Tapes Market: Composition Analysis
Adhesive Tapes Market: Backing Material Analysis
- Polyvinyl Chloride
Adhesive Tapes Market: End use Analysis
- Health Care
- Building & Construction
- Consumer Goods
Adhesive tapes Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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