Published: January 2023 | Report Code: 10868 | Available Format: PDF | Pages: 250
The global adhesive tapes market size was valued at USD 66,634 million in 2022, and it is expected to hit USD 103,040 million by 2030, advancing at a CAGR of 5.60% during the forecast period. This can be attributed to the large-scale consumption of these materials for various packaging applications in industries, such as electrical and electronics and e-commerce, rising healthcare industry, increasing R&D spending by industry giants, technological advancements, and the rise in innovative product launches.
The commodity category accounted for the major revenue share in 2022, and it is further expected to maintain its dominance during the projection period. This can be attributed to the large-scale consumption of commodity tapes for various packaging applications in industries, such as food and beverage, electrical and electronics, and e-commerce.
On the other, the specialty category is predicted grow substantial rate during the forecast period. This is owing to the large-scale utilization of these products in rapidly growing industries, such as automotive, healthcare, electrical and electronics, and construction and building, across different regions.
Over the past few decades, the rapid economic development in emerging economies, such as China, India, and Indonesia, has resulted in an increase in per capita income. Moreover, with the rising income levels, standard of living is also increasing, and due to the changing lifestyle, demand for packaging solutions in these countries is also growing. This, in turn, has increased the use of adhesive tapes, such as packaging tapes and carton-sealing tapes, for the bundling, strapping, and packaging of products and heavy-duty cartons. According to the Flexible Packaging Association, total packaging grows by 11% during 2017–2021.
The hot melt-based category will accounted for the fastest growth during the forecasted period with a CAGR of 6.2% and it will maintain its position during the coming years. This can be ascribed to its high usage in a variety of manufacturing processes, such as bookbinding, woodworking, construction, product assembling, and box or carton heat sealing.
Additionally, the water-based category will register the fastest growth during the forecast period. This is due to the increasing demand for environment-friendly water-based adhesive products, coupled with growing regulatory support.
The increase in the adoption of water-based adhesive tapes is being witnessed in many end-use verticals, including infrastructure. The majority of the growth in the industry is expected to come from China, India, and Malaysia due to the increasing investments in railways, for the development of rapid transit systems and railway tracks, and in water distribution and sewerage projects, for the installation of larger pipes and stormwater drainage systems.
Thus, the rapid growth in the infrastructure sector is resulting in the surging demand for water-based variants for bonding building materials, meeting air sealing requirements, flashing doors and windows, and roofing purposes. Moreover, water-based adhesive tapes are also gradually edging out solvent-based adhesives, as water-based adhesives help reduce volatile organic compound (VOC) emissions and improve air quality.
On the other hand, solvent-based adhesives are highly flammable and form ground-level ozone as a result of VOC emissions. Since water-based adhesives are made of natural polymers or vegetable sources, they are eco-friendly in nature and, therefore, find wide application across several industries. Thus, the growing shift toward eco-friendly adhesive tapes is a major trend witnessed in the market.
The healthcare category will witness the fastest growth during the forecast period, advancing at a CAGR of 6.1%. This is due to the rising R&D spending in the sector, increasing health consciousness among people, escalating count of hospitals and ASCs, growing demand for in vitro diagnostics, and surge in the launch of medical equipment and related products, such as hydrophilic films, oral dissolvable films, and transdermal drug delivery patches.
Whereas the packaging category held the largest revenue share in 2022, and it is predicted to maintain its position in the coming years. This can be attributed to the fact that almost every industry makes use of tape for packaging products. Moreover, the increasing trend of online shopping in emerging economies is boosting the demand for retail e-commerce packaging, which in turn, requires these products for packaging purposes.
Furthermore, the automotive category contributes significant revenue to the market in 2022. This can be ascribed to the quick replacement of nut and bolt fasteners to lighten and improve the appearance of the vehicle, growing automobile industry especially in emerging countries, rising trend of EVs across the globe, and growing technological advancements.
Moreover, the building and construction category will witness substantial growth in the coming years. This is owing to the surging government expenditure on large-scale infrastructure projects, including airports, rail stations, and highways, and the mounting number of public-private infrastructure development collaborations.
Acrylic resin accounted for the highest sales in 2022, and it is expected to maintain its position during the projection period. This is due to the high demand for acrylic adhesives products due to their chemical and physical properties, lower cost, and vast applications in several end use verticals, such as healthcare, automotive, and packaging.
Based on backing material, the market is classified into papers, polyvinyl chloride (PVC), polypropylene (PP), and others. Among these, the papers category accounted for the largest revenue share in 2022, and it will continue to do so during the coming years. This is because these tapes have a wide range of applications, and are made of affordable paper with a rubber adhesive coating. They are available in several colors and are eco-friendly, temperature-resistant, and have superior adhesion.
Report Attribute | Details |
Historical Years |
2017-2022 |
Forecast Years |
2023-2030 |
Market Size in 2022 |
USD 66,634 Million |
Revenue Forecast in 2030 |
USD 103,040 Million |
Growth Rate |
5.60% CAGR |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Segments Covered |
By Type; By Technology; By End Use; By Resin; By Backing Material; By Region |
Explore more about this report - Request free sample pages
The APAC region accounted for the largest revenue share, of 46%, in 2022, and it is expected to advance at a significant CAGR. This growth can be ascribed to the easy availability of raw materials, growing electrical and electronics industry where such tapes are extensively used, increasing demand from automotive sector owing to the escalating number of vehicles used for the transportation of goods as well as private-owned cars, and high number of prominent manufacturers in the region.
Moreover, the North American market accounted for a significant share revenue in 2022. This is attributed to the growing per capita income, surging number of industry players, increasing technological advancements, mushrooming construction rate, and mounting preference for packaged food which give rise to the packaging industry.
Furthermore, Europe accounted for a significant revenue share, and it will maintain its position during the coming years. This is due to the well-established automobile sector, growing packaging industry, and high acceptance rate of cutting-edge technology. In addition, Germany contributes the highest revenue to the region, due to being the largest exporter of rubberized textile adhesives and existence of large number of auto part manufacturers, which further contributes to the regional share.
This report offers deep insights into the adhesive tapes market, with size estimation for 2017 to 2030, the major drivers, restraints, trends and opportunities, and competitor analysis.
Based on Type
Based on Technology
Based on End Use
Based on Resin
Based on Backing Material
Geographical Analysis
The global adhesive tapes market will generate USD 103,040 million revenue by 2030.
The key driving factors in the adhesive tapes market are the rising healthcare industry, technological advancements, increasing R&D spending by industry giants, and the rise in innovative product launches.
The adhesive tapes market is projected to grow at a 5.60% CAGR from 2022 to 2030.
The adhesive tapes market size was valued at USD 66,634 million in 2022.
The commodity category accounted for the major revenue share in the adhesive tapes industry.
Get a bespoke market intelligence solution
Want a report tailored exactly to your business strategy?
Request CustomizationWant an insight-rich discussion with the report author?
Speak to AnalystOur dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws