Commodity Adhesive Tape Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Packaging, Masking, Consumer & Office Tapes), By Coating Technology (Solvent-Based, Hot-Melt, Water-Based), By End Use Industry (Consumer Electronics, Construction, Transportation & Logistics, Retail, Others), And By Geography- Forecasts From 2022 To 2027

The commodity adhesive tape market is expected to surge at a CAGR of 5.50%, increasing from a market size of US$48.486 billion in 2020 to a market size of US$70.543 billion by 2027.

Commodity adhesive tapes are tapes used for purposes including packaging, masking, and consumer and office space uses. The demand for commodity adhesive tapes will rise with growth in the packaging and retail industries. Moreover, the booming eCommerce industry will further boost the demand for these tapes as they are used to pack goods for shipment in bulk quantities. Furthermore, the growing number of SMEs will further lead to an increase in the demand for office supplies, which will, in turn, add to the demand for these tapes. In addition, increasing demand for painting in offices and housing spaces will snowball the demand for these tapes for masking purposes. The Asia-Pacific region will see many growth opportunities during the forecast period due to rising disposable income boosting the demand for household and retail supplies and increasing expenditure on the aesthetic appeal of buildings and interiors.

The growing adoption of flexible packaging worldwide is poised to fuel the market’s growth in the forecast period.

Flexible packaging in the Asia-Pacific region is expected to surge in the forecast period with the growing disposable income, evolving living standards of people, and burgeoning consumer demand for convenient packaging solutions. Additionally, the hectic work schedules of people in the APAC region are driving the demand for easy-to-use packaged food and beverage products. The demand for flexible packaging is further supported by the growing demand in various end-use industry verticals. Also, the use of lightweight materials coupled with low production costs is assisting in ease of transport with minimal or no damage to the products. Hence, reducing the overall cost of operation for the manufacturers. The market is expected to show high growth prospects in the emerging countries of China and India, with a large consumer base, an expanding middle-class population, and an increasing disposable income. Also, the market in China is providing maximum consumption among all the countries of the APAC region. Furthermore, the growing number of retail stores, including supermarkets, hypermarkets, and convenience stores, is bolstering flexible packaging with an improved shelf-life of degradable products such as fresh foods and vegetables, among others. 

Growing technological advancements

With advancements in technology, flexible packaging innovations are continuing to grow at a significant pace where the industry is focusing on the production of eco-friendly packaging solutions having benefits that include reduced utilization of non-biodegradable plastics and utilizing sustainable raw materials, thus, reducing energy consumption during recycling. Additionally, with the increasing pressure from the government, the market for flexible packaging will continue to proliferate in the forecast period, driving sustainability.

The presence of a large consumer base, especially in the countries of India and China, is driving the market demand with the growing adoption of flexible packaging.

This is majorly driven by the increasing preference for consuming convenience and ready-to-eat products. The increasing family income with more than one earning family member and women entering the main workforce stream is surging the market demand for flexible packaging to thrive in the forecast period. Additionally, with increasing urbanization, a shift from the rural to urban areas of the world is being observed, bringing in changes in dietary consumption as well. In India, the citizens are moving from the traditional way of cooking to the adoption of purchasing meals from outside, hence fueling the market demand for convenience foods and beverages. With the changing living conditions, the spending ability has also increased, further encouraging the industry players in the APAC region to manufacture innovative flexible packaging solutions to satisfy a wide range of customers.  Furthermore, with a growing elderly population and a high number of people suffering from chronic diseases, the demand for flexible packaging is fueling consumer demand for drugs, medications, and other necessary medical supplies.

Flexible packaging solutions in the European region, which includes Spain, are focusing on curbing carbon emissions.

Hence, this is considered an optimum environmental choice since fewer resources are used for its production with fewer emissions. In addition, less waste is generated while manufacturing flexible packaging solutions, which is further anticipated to augment the adoption of flexible packaging solutions in the country. Moreover, numerous benefits of the use of flexible packaging solutions such as lower transportation costs, higher product-to-package ratio, and reduced materials to landfill, among others, are further creating the inclination of food manufacturers to increase the adoption of sustainable packaging solutions and thus fueling the market growth during the forecast period. Furthermore, key market players are adopting every possible strategy, ranging from capacity expansion to mergers and acquisitions, in order to sustain and increase their share in the competitive market.

The demand for paper-based flexible packaging solutions is gaining traction in the country, owing to the increasing popularity of biodegradable products for packaging and mounting restrictions on the use of plastics. This trend is also projected to have a positive impact on the demand for paper-based flexible packaging for fresh foods in the region during the forecast period. In addition, the trend towards the use of non-chemically induced products has resulted in a sharp rise in the demand for organically fresh produce all around Europe. With Spain being the largest producer in the European region, this growth has resulted in substantial growth of the Spanish organic produce, and the usage of packaging which is free from chemical treatment.

Product offering

• 3M offers 3MTM Impact resistant adhesive transfer tape 95010. The tape is available for industrial and occupational use. The company claims that the product is engineered for good impact resistance and vibration damping. Also, the tape has high bonding strength along with peel adhesion.
• Shurtape Technologies, LLC offers a wide range of industrial, packaging, art tapes, and many more types. FP96 Packaging Grade Flatback Kraft paper tape is hand and machine carton sealing and splicing tape for general packaging, binding tabbing, reinforcing, and banding-patching application. The FP96 tapes are constructed with an aggressive, rubber-based adhesive that is strong, flexible, and comfortable.

COVID-19 impact on Commodity Adhesive Tape Market

Due to government restrictions and industry-wide shutdowns particularly in construction, automotive, electrical, and more such industries, the commodity adhesive tape market growth was hindered. Moreover, these industry-wide shutdowns impacted the global demand for the commodity adhesive tape market owing to the reduced demand for packaging by the industries. However, the post-pandemic market growth for the commodity adhesive tapes market is positive owing to the reopening of economies and worldwide trade activities. For instance, as per World Bank data, the exports of goods and services were 26.3% of GDP in 2020. The exports rose to 29.1% in 2021. Thus, indicating a positive growth prospect for the commodity adhesive tape market in the forecast period.

Commodity Adhesive Tape Market Scope:

Segmentation:

• By Type
  • Packaging
  • Masking
  • Consumer & Office Tapes
• By Coating Technology
  • Solvent-Based
  • Hot-Melt
  • Water-Based
• By End Use Industry
  • Consumer Electronics
  • Construction
  • Transportation & Logistics
  • Retail
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • UAE
    • Israel
    • Saudi Arabia
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the commodity adhesive tape market size by 2027?
A1. The commodity adhesive tape market is expected to reach a market size of US$70.543 billion by 2027. 

Q2. What is the size of the global commodity adhesive tape market?
A2. Commodity Adhesive Tape Market was valued at US$48.486 billion in 2020.  

Q3. What are the growth prospects for the commodity adhesive tape market?
A3. The global commodity adhesive tape market is expected to surge at a CAGR of 5.50% over the forecast period. 

Q4. What factors are anticipated to drive the commodity adhesive tape market growth?
A4. The demand for commodity adhesive tapes will rise with growth in the packaging and retail industries. 

Q5. Which region holds the largest market share in the commodity adhesive tape market?
A5. The Asia Pacific region will see many growth opportunities in the commodity adhesive tape market.