Water-Based Adhesive Specialty Tapes Market To Generate Revenue Worth $9,514.9 Million by 2030
- Published: September 2021
The expanding automotive industry, increasing product demand from the healthcare industry, and enhanced benefits of water-based adhesive specialty tapes as compared to traditional bonding methods are the major growth drivers for the global water-based-adhesive specialty tapes market. Due to the aforementioned factors, the industry is projected to generate $9,514.9 million revenue in 2030, advancing at a CAGR of 6.5% during 2020–2030.
During the COVID-19 pandemic, the market for water-based adhesive specialty tapes have a neutral impact on the market. This is mainly on account of the intensifying demand for healthcare facilities, workers, and, most importantly, medical equipment, devices, drugs, and research studies. The supply of raw materials for adhesives and sealants has not yet become an issue beyond transportation-related issues, including travel restrictions and shortage of drivers. Besides, the demand for these adhesive formulations has increased for residential projects and in the medical device sector. Whereas, commercial construction (new buildings and refurbishments) and infrastructure projects are in the neutral category.
PVA Emulsion Held the Largest Share in 2020 and is Expected to Retain its Dominance
On the basis of resin type, the polyvinyl acetate (PVA) emulsion category held the largest share in the water-based adhesive specialty tapes market in 2020, and the category is expected to maintain its dominance throughout the forecast period (2021–2030). This can majorly be ascribed to the fact that PVA adhesives produce clear, hard films that have good weather resistance and can withstand water, grease, oil, and petroleum fuels. Additional properties are high initial tack, almost-invisible bond line, softening at 30–45 °C, good biodegradation resistance, and low cost.
Moreover, the market for PVA emulsion water-based adhesive specialty tapes is categorized into construction, automotive, and others, based on industry. Out of these, the construction category accounted for the largest market shares in 2020, and is expected to retain its position during the forecast period. This will primarily be due to the rising usage of these adhesives in coatings and waterproofing of the construction projects.
Geographically, the Asia-Pacific (APAC) region accounted for the largest share in the water-based adhesive specialty tapes market in 2020. Moreover, it is expected to continue holding the largest share in the global market in the coming years. This will be because of the growing demand for adhesive tapes in the automotive, healthcare, and electrical and electronics industries and rising disposable income in the region.
Partnerships Are Most-Effective Strategic Measures Taken by Players in Market
Players in the water-based adhesive specialty tapes industry are involved in product launches to gain a significant position. For instance, in September 2020, The Dow Chemical Company launched two Insivu-brand acrylic adhesives, namely Insivu 4200 and Insivu 3400. Invisu 4200 is a clear-film adhesive suitable for high-end labels for beverage, food, and health and beauty products. The adhesive offers excellent adhesion to low-surface- energy substrates and strong water whitening resistance. similarly, Invisu 3400, a water-based adhesive, is ideal for corrugated surfaces.
Major players operating in the water-based adhesive specialty tapes market are 3M Company, Nitto Denko Corporation, tesa SE, LINTEC Corporation, Avery Dennison Corporation, Intertape Polymer Group Inc., Shurtape Technologies LLC, Scapa Group plc, Lohmann GmbH & Co. KG, and Nichiban Co. Ltd.