Anticipated Growth in the Adhesive Tapes Global Market Forecasted to Reach $103.34 Billion At A CAGR of 7.9% By 2028

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What is the latest trend in the Adhesive Tapes Global Market and how is the market performing?
The adhesive tapes market size has seen robust growth in the recent past and it is set to continue its upward trajectory. Valued at $70.71 billion in 2023, the market is forecasted to grow to $76.29 billion in 2024, marking a compound annual growth rate CAGR of 7.9%. This growth can be accredited to several factors such as the boom in the packaging industry, automotive manufacturing, growth in the electronics and electrical industry, industrial growth, and an increased demand for medical and healthcare applications.

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What key drivers will contribute to the expected growth of the Adhesive Tapes Global Market?
The adhesive tapes market is predicted to witness strong growth in the forthcoming years. Projected to grow to $103.34 billion in 2028 at a CAGR of 7.9%, the amplification in the forecasted period can be attributed to increasing repair and maintenance needs, increasing use in automotive manufacturing, rapid urbanization, and electrification in vehicles.

Growth in the automotive sector worldwide plays a crucial role in fueling the adhesive tapes market. Adhesive tapes, with their lightweight, compact, and smooth properties, have become an ideal choice 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 likely to increase from $1321.7 billion in 2020 to $1988.7 billion by 2025. Metal fasteners are being increasingly replaced with adhesive tapes in cars due to a preference for lightweight materials. Therefore, the increased production of automobiles will escalate the demand for adhesive tapes and boost their sales.

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Who are the key players in the Adhesive Tapes Global Market?
The adhesive tapes market is dominated by key industry players such as Compagnie de Saint-Gobain S.A., 3M Company, Henkel AG, Berry Global Inc., DuPont de Nemours Inc., OJI Holdings Corporation, Sekisui Chemical Co. Ltd., Sika AG, Avery Dennison Corporation, Nitto Denko Corporation, RPM International Inc., H.B. Fuller Company, Schweitzer-Mauduit International Inc., Tesa SE, to name a few.

How is the Adhesive Tapes Global Market Segmented?
1 By Resin Type: Acrylic, Rubber, Silicone, Other Resin Types
2 By Material Type: Polypropylene PP, Paper, Polyvinyl Chloride PVC, Other Material Types
3 By Technology Type: Solvent-Based, Hot-Melt Based, Water-Based
4 By End Use: Packaging, Consumer and Office, Healthcare, Automotive, Electrical and Electronics, Building and Construction, Other End Uses

What are the regional insights into the Adhesive Tapes Global Market?
Asia-Pacific was the largest region in the adhesive tapes market in 2023. The Asia-Pacific region is predicted to record the fastest growth in the adhesive tapes market during the forecast period. Other regions covered in the adhesive tapes market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The launch of eco-friendly tapes is a key trend in the adhesive tapes market. Several countries have banned the use of toxic materials in the manufacture of adhesive goods. This has driven the demand for recyclable tapes. As a result, many companies are shifting from plastic to biodegradable materials such as paper and cellulose for manufacturing tapes. For instance, in January 2021, Italy-based IRPLAST launched its ECO+ tape which is made of 34% post-industrial recycled IRPLAST BOPP film. The cores are made from recycled cardboard and the tape reduces emissions with no loss in adhesion quality.

Taking note of these trends, opportunities, and challenges, explore our detailed market research reports to make well-informed decisions for your organization.

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