Adhesive Tapes Industry Sees Demand Through Increased Production Of Automobiles
Adhesive Tapes Global Market Report 2021: COVID-19 Growth And Change
The Business Research Company’s Adhesive Tapes Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, June 9, 2021 /EINPresswire.com/ -- The growth of the automotive industry and the rapid rise in demand for adhesive tapes from the automotive sector worldwide are expected to propel the adhesive tapes market during the forecast period. Adhesive tapes are lightweight, compact, and smooth, making them ideal for use in car interiors for bonding of electronic products, parking sensor retainers, door cladding, spoiler, and seals among others. The global passenger car market is expected to increase from $1321.7 billion in 2020 to $1988.7 billion by 2025. Due to an increased affinity for lightweight, metal fasteners are increasingly being replaced in cars with adhesive tapes, thus, the increased production of automobiles will lead to a rise in the demand for the automotive adhesive tapes market.
The adhesive tape manufacturers market consists of sales of adhesive tapes by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling the adhesive tapes. Adhesive tapes are a combination of a material and an adhesive layer that can be used to join two objects or materials together. It consists of a pressure-sensitive adhesive, which is coated onto a backing material like paper, plastic film, cloth, or metal foil and has removable release liners protecting the adhesive before usage.
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Global adhesive tapes market analysis shows that it is expected to grow from $57.04 billion in 2020 to $61.01 billion in 2021 at a compound annual growth rate (CAGR) of 6.96%. The growth is mainly due to the increased demand for adhesive tapes from end-users like healthcare, electrical & electronics, and automotive industries. The adhesive tapes market is expected to reach $79.83 billion in 2025 at a CAGR of 7.0%.
Asia Pacific was the largest region in the adhesive tapes market in 2020. The region is predicted to record fastest growth over the forecast period. The regions covered in the adhesive tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the adhesive tapes industry are 3M, Nitto Denko Corporation, Tesa SE, Lintec Corporation, Avery Dennison Corporation, Intertape Polymer Group Inc, Henkel AG, Lohmann GmbH & Co., Scapa Group PLC, DuPont de Nemours Inc., H.B. Fuller Company, Shurtape Technologies LLC, Nichiban Co. Ltd., Advance Tapes International LTD, Ajit Industries Pvt. Ltd, Sekisui Chemical Co. Ltd, American Biltrite, Canadian Technical Tape Ltd, Berry Global Inc, Dewal Industries Inc, Industrias Tuk, Saint Gobain, CMS Group of Companies, and RPM International.
The global adhesive tapes market is segmented by resin type into acrylic, rubber, silicone, others, by material type into polypropylene (PP), paper, polyvinyl chloride (PVC), others, by technology type into solvent-based, hot-melt based, water-based, by end-use into packaging, consumer and office, healthcare, automotive, electrical and electronics, building and construction, others.
Adhesive Tapes Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides adhesive tapes market overview, forecast adhesive tapes market size and growth for the whole market, adhesive tapes market segments, and geographies, adhesive tapes market trends, adhesive tapes market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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