The extensive usage of adhesive tapes in packaging applications in various industries such as e-commerce and electrical and electronics is causing a sharp surge in their sales all over the globe. Moreover, with the advancement of the e-commerce industry, on account of the rising penetration of the internet and the growing popularity of online shopping, the demand for adhesive tapes would rise, which would, in turn, cause the expansion of the global adhesive tapes market in the future.
Apart from being used the e-commerce and electrical and electronic industries, adhesive tapes are also widely required in the automotive industry. These tapes are used in the automotive industry in the form of protection tapes and double-sized tapes. Automakers are increasingly replacing the traditionally used mechanical fasteners such as screws and bolts with adhesive tapes because of the growing requirement for lightweight vehicles. The usage of lightweight adhesive solutions in place of fasteners significantly reduces the weight of the vehicle.
When type is taken into consideration, the adhesive tapes market is categorized into specialty and commodity tapes. According to the market research company, P&S Intelligence, the specialty tapes category will demonstrate rapid expansion in the market in the forthcoming years. This will be because of the large-scale usage of specialty adhesive tapes in various thriving industries such as electrical and electronics, construction and building, automotive, and healthcare all over the world.
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The adhesive tapes market is also classified, on the basis of technology, into solvent-based, hot-melt-based, and water-based technologies. Out of these, the water-based adhesive technology category recorded sharp surge in the market, in terms of volume, in the past. This was because of the high demand for eco-friendly water-based adhesives and the presence of favorable regulations in several countries around the world. Furthermore, this category is predicted to demonstrate rapid progress in the market in the upcoming years.
Packaging, healthcare, consumer and office, electrical and electronics, automotive, and building and construction are the main categories present under the end use segment of the market. Amongst these, the packaging category recorded huge volumetric growth in the market in the years gone by. The large-scale utilization of adhesive tapes in several industries was the main factor responsible for the surge of the category in the market during the past few years.
Across the globe, the adhesive tapes market registered substantial growth in Asia-Pacific (APAC) in the past. This was primarily because of the rapid growth of many industries in the regional countries in the last few years. APAC countries such as India and China exhibited rapid economic progress over the past few years and this positively impacted the revenue growth of healthcare, automotive, and electrical and electronics industries. This, in turn, propelled the sales of adhesive tapes in the region.
Thus, it can be safely said that the market will flourish in the future years, on account of the advancement of the e-commerce industry and the rising popularity of online shopping and the growing usage of adhesive tapes in the automotive industry.
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