Adhesive Tapes Market To Generate Revenue Worth $103.1 Billion by 2030

The global adhesive tapes market is estimated to have projected to generate USD 103.1 million revenue by 2030, advancing at a CAGR of 5.8% during 2024–2030. This can be ascribed to the rising living standard of people, coupled with surging disposable income; the increasing innovative product launches by prominent players; and the growing industrialization. Moreover, the surging preference of people toward e-commerce platforms and packaged food will propel the growth of the industry.

Moreover, the introduction of recyclable tapes is a major growth opportunity for players in the market. Many countries are banning the use of hazardous chemicals required for the production of adhesive products. Furthermore, stringent government regulations shift the focus of end users toward environment-friendly products, which has led to a surge in demand for these products.

Specialty Tapes Category To Show Faster Growth

Based on type, the market is bifurcated into commodity and specialty tapes. Of these, the specialty tapes category is expected to register faster growth, advancing at a CAGR of 6.0%, during 2024–2030. This growth can be attributed to the ongoing developments in the automotive industry, which is resulting in their increasing usage over traditional methods, for the fixing and fastening of parts. Besides, the surging demand for medical tapes in the healthcare and hygiene market is supporting the industry expansion, particularly for specialty tapes.

Based on application, the automotive category holds a significant revenue share in the market. This is because double-sided and protective tapes are widely employed in this expanding industry. Additionally, to reduce the weight of vehicles, automotive manufacturers are switching from mechanical fasteners to automotive tapes with high adhesive quality. Since mechanical fasteners, such as bolts and screws, add weight to vehicles, lighter adhesive alternatives are being used more frequently to replace these goods. Therefore, it is projected that the demand in this category will rise as they are more used in the automotive industry.

Whereas, the healthcare category will witness the fastest growth during the forecast period. This can be due to the surging R&D spending by industry giants, the increasing number of product launches, the rising number of surgeries, the growing sales of wound care products, and technological advancements in this sector.

Moreover, the packaging category accounts for a substantial share, in terms of revenue, and it is also expected to maintain its position during the coming years. This is because almost every industry uses packaging solutions for their products.

North American Market Shows Significant Growth

The North American market will register significant growth in the years to come. This can be ascribed to the growing end-use industries, such as healthcare, automotive, and packaging; and the high government spending on healthcare infrastructure and wound care products, such as dry first-aid kits, dressings, and adhesive bandages, which are in high demand.

Geographically, the APAC adhesive tapes market holds the highest revenue share and it will also maintain its dominance during the forecast period. This is attributed to the ongoing R&D in the electrical and electronics, healthcare, and automotive industries, and the rise in urbanization, coupled with industrialization. Moreover, the low cost of raw materials and easy availability of cheap labor for the manufacturing of tapes with adhesion properties have resulted in the growing production of low-priced tapes, which, in turn, has contributed to the growth of the regional market.

Some of the key players in the market are 3M Company, Nitto Denko Corporation, Tesa SE, LINTEC Corporation, Avery Dennison Corporation, Intertape Polymer Group Inc., Shurtape Technologies LLC, BASF SE, Lohmann GmbH & Co. KG, and Nichiban Co. Ltd.