The global market for adhesive tapes is primarily being driven by rising demand from the packaging sector. In a report released by PMMI, the Association for Packaging and Processing Technologies, it is predicted that the global packaging industry will grow by 42.2 billion dollars by 2021, up from 36.8 billion dollars in 2016, as a result of rising population, growing sustainability concerns, more disposable income in developing regions, and rising demand for smart packaging. In the upcoming years, this is anticipated to drive the market for sticky tapes. However, until 2021, the market may grow at a slower rate than anticipated due to the pandemic's effects. Another prediction for market growth is increased employment of adhesive tapes in electric and hybrid automobiles. Worldwide plug-in vehicle deliveries in 2019 reached 2264,400 units, up 9% from 2018, according to the International Energy Agency's Global EV Outlook 2019. Compared to the growth rates of the prior six years, which ranged between 46% and 69%, this is a substantial deviation. The production of electric and hybrid vehicles is anticipated to use adhesive tapes more frequently as a result of this encouraging expansion.
According to Coherent Market Insights, the worldwide Adhesive Tapes Market was valued at USD 49980.5 million in 2021 and is projected to rise at a compound annual growth rate (CAGR) of 3.97% from 2022 to 2030.
Prominent Companies in the Adhesive Tapes Industry:
1. 3M
The business was established in 1902 and is situated in Maplewood, Minnesota, U.S. The 3M Company is active in the manufacturing, consumer goods, health care, and worker safety sectors.The business stated in December 2022 that it would stop making and using the so-called "forever chemicals," which have been widely used in products like food packaging, telephones, non-stick cookware, fire-fighting foams, clothing, etc. The corporation announced in July 2022 that it will separate its healthcare assets to create a brand-new, independent company, with the sale probably closing in 2023.
2. Avery Dennison Corporation
The business was established in 1935 and and has its main office in Mentor, Ohio. The business is a global producer and distributor of speciality medical products, RFID inlays, pressure-sensitive adhesive materials, and apparel branding labels and tags. Avery Dennison was revealed to have purchased TexTrace, a business situated in Frick, Switzerland, in February 2022. Avery Dennison announced in March 2022 that it has purchased the linerless label technology created by the UK business Catchpoint Ltd.
3. DuPont
The firm was founded in 1802, with its headquarters in Wilmington, Delaware, in the United States. Dupont, Inc. sells chemicals and related goods. DuPont's highly developed field inspection and analysis programme, which tracks material deterioration and its effects on module performance, produced the latest Global PV Reliability Report in May 2020.
4. HB Fuller Company
The business was established in 1887, and its corporate headquarters are in Vadnais Heights, Minnesota.The H.B. Fuller Company produces and sells speciality chemical products such as coatings, paints, adhesives, and sealants all over the world. H.B. FULLER has stated that they will introduce a new biocompatible adhesive for medical applications in January 2023. In August 2021, H.B. FULLER declared to implement a surcharge to recoup significant cost increases for raw materials and related services.
5. Intertape Polymer Group
The firm was founded in 1981 and is situated in in Florida and Montréal. The Intertape Polymer Group makes polyolefin, plastic, and paper-based packaging materials as well as shrink film, stretch film, carton sealing tape, electronic tape, stencil products, protective packaging systems, and other items.
6. Lintec Corporation
The company was founded in 1934, and its head office is located in Japan. Paper and adhesive goods are produced and sold by LINTEC Company. Pressure-sensitive adhesives made by the company are utilised in a variety of tasks, including packing, labelling, and sealing.
7. Holding Corporation
The company was founded in 1973 and has its main office in Ahmedabad. A holding company is a business that controls the activities of its subsidiaries while also owning other businesses. Holding corporations are frequently established to hold assets that are shielded from the running company, such as intellectual property or trade secrets.
8.TESA SE
The company was founded in 2001 and has its headquarters in Norderstedt Germany. Tesa SE produces self-adhesive goods and system solutions for businesses, consumers, and a variety of other markets, including the arts, crafts, furniture, maritime, health, paper, renewable energy, and automotive.
Definition: Adhesive tapes are adaptable instruments that are frequently employed in the assembly of materials and parts. They are a popular and useful substitute for mechanical fastening, adhesive bonding, soldering, welding, and brazing. For situations where the temperature is relatively low, these tapes are often effective.
