by The global adhesive tapes market comprises a wide range of tapes used for binding, sealing and masking purposes. Pressure-sensitive tapes are applied to join surfaces together through the use of adhesive and provide strong, dependable and long-lasting adhesion that improves efficiency across a variety of applications. The tapes feature properties such as high initial tack and bond strength which enables bonding surfaces together seamlessly without the use of other fasteners. They offer advantages like aesthetic appeal, ease of application, durability and sustainability compared to mechanical fasteners. The pressure-sensitive tapes are used in industries including packaging, medical, HVAC, automotive and construction.
The Global adhesive tapes market is estimated to be valued at US$ 62239.95 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 2024–2031.
Key Takeaways
Growing demand: Surging requirement from packaging, medical and automotive industries is driving the demand for Adhesive Tapes Market Size. Their properties like ease of use and sustainability make them preferred alternatives to mechanical fasteners.
Global expansion: Leading manufacturers are focusing on expansion strategies across Asia Pacific and Latin America. Countries like China, India and Brazil offer high growth potential owing to rapid industrialization and infrastructure development.
Key players operating in the Adhesive Tapes Market Size are Swiggy Zomato Deliveroo Uber EatsDoor Dash Grubhub Just Eat Takeaway.com GojekGrab Foodpanda. They dominate market share through product innovation and expansion into emerging economies.
Market key trends
Sustainable product development: Major players are investing in renewable materials and recyclable adhesive formulations to cater to rising eco-conscious consumers.
Multi-functional tapes: Manufacturers are launching multi-functional tapes suitable for variable temperature conditions, harsh chemicals and outdoors. Their versatility increases scope of applications.
Porter’s Analysis
Threat of new entrants: The established players in the Adhesive Tapes Market Size hold strong brand recognition and economies of scale which act as entry barriers for new players. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price sensitivity. However, requirement of special raw materials and manufacturing process increases switching costs. Bargaining power of suppliers: Manufacturers require specialized raw materials and machinery for adhesive tapes production giving existing suppliers moderate bargaining power. Threat of new substitutes: Threat from substitutes is low to moderate as adhesive tapes have properties not found together in substitute products however technological advancements can increase threat over long term. Competitive rivalry: The adhesive tapes market is fragmented with presence of numerous regional and global players. Competition is based on product quality, pricing and innovation.
The Asia Pacific region accounts for the largest share of around 40% of the global adhesive tapes market in terms of value owing to presence of key manufacturing hubs and rapidly growing end use industries. Countries like China, India, Japan and South Korea are major markets in the region. TheMiddle East and Africa region is expected to witness highest growth during the forecast period attributed to ongoing infrastructure development projects and rising industrial and construction activities in the region especially in GCC countries.
The geographical regions where the market is concentrated in terms of value are Asia Pacific countries like China, India, Japan and South Korea due to presence of manufacturing hubs and rapidly growing end use industries in the region. The Asia Pacific region accounts for around 40% share of the global market. The fastest growing region for the adhesive tapes market during the forecast period is expected to be Middle East and Africa on account of ongoing infrastructure development projects and rising construction and industrial activities in GCC countries of the region. This will drive demand for adhesive tapes from various end use industries in MEA region between 2024 to 2031.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
