The solvent-based adhesive tape market is evaluated at US$17.656 billion for the year 2020, growing at a CAGR of 5.14% to reach a market size of US$25.085 billion by the year 2027.
An adhesive component is dissolved in an organic solvent to create solvent-based adhesives. These can be made of rubber or acrylic. Because of its growing adoption across industry verticals, the market for solvent-based adhesive tapes is expected to rise throughout the projected timeframe. The burgeoning use of solvent-based adhesive tapes in automobile manufacture and maintenance will drive up demand for them. Furthermore, the flourishing eCommerce business will increase packaging materials, expanding the market for these tapes.
Many adhesives are susceptible to weathering and ageing, especially when exposed to UV radiation, moisture, and chemicals. Solvent PSA tapes are resistant to these factors. They maintain their stability even when exposed to high temperatures, making them ideal for thermal applications. These tapes are used for various functions in everyday life, ranging from packaging to attaching. Automotive tape, conspicuity tape, general-purpose permanent tape, and speciality tape are some of the applications of solvent PSA tapes.
The rising popularity of specialized adhesive tapes across various end-use industries like the silicone-based adhesive tape segment, which is based on the resin, is predicted to lead the market in the next five years since it maintains its adhesiveness across a wide temperature range and adheres to challenging surfaces.
Due to the widespread use of speciality tapes in surgical containers, monitoring electrodes and other medical devices, covering wounds, fixing cover shields while surgeries are performed, cleaning in antiseptic rooms, and the manufacture of disposable infant diapers, the healthcare segment is expected to lead the market for the upcoming years.
Owing to increase demand for adhesive tapes from emerging economies in the area such as China, Japan, and India, Asia-Pacific is likely to lead the Adhesive Tape market during the forecast period.
However, throughout the next five years, the availability of alternatives such as hot melt and water-based adhesives will limit the demand for solvent-based tapes. Due to increased auto manufacturing in the Asia Pacific, the industry would witness many development prospects.
The effect on the demand for solvent-based adhesives differed depending on the end market. COVID-19 expanded the existing fast-growing businesses such as medical, hygiene, and food packaging. Manufacturers are expected to establish or extend their manufacturing facilities to take advantage of the world's current cheap manufacturing costs. In the short term, a drop in demand was seen in the automobile market due to the shutdown of many production plants. However, in the coming months, a resurgence is expected.
ATP Adhesive Systems Group, a Swiss firm that develops and manufactures client-specific adhesive products, announced the acquisition of BDK Industrial Products Ltd. in March 2021 for an undisclosed sum. The acquisition is expected to strengthen both firms' market positions and enable them to offer a wider range of customized products to their customers, such as medical adhesive tapes and customized adhesive tapes. BDK Industrial Products Ltd. is a specialized adhesive tape converter based in the United Kingdom that has established itself as a solution provider for customers in the healthcare and other industries.
|Market size value in 2020||US$17.656 billion|
|Market size value in 2027||US$25.085 billion|
|Growth Rate||CAGR of 5.14% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Resin Type, Material, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||3M, Nitto Denko Corporation, Tesa SE, Avery Dennison Corporation, Intertape Polymer Group, LINTEC Corporation, Berry Global Inc, Scapa, Lohmann GmbH & Co.KG, Rogers Corporation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the solvent-based adhesive tape market?
A1. The solvent-based adhesive tape market is projected to grow at a CAGR of 5.14% during the forecast period.
Q2. What will be the solvent-based adhesive tape market size by 2027?
A2. The global solvent-based adhesive tape market is projected to reach a market size of US$25.085 billion by 2027.
Q3. What is the size of the global solvent-based adhesive tape market?
A3. Solvent Based Adhesive Tape Market was valued at US$17.656 billion in 2020.
Q4. Which region holds the maximum market share in the solvent-based adhesive tape market?
A4. Asia-pacific is expected to dominate the global solvent-based adhesive tape market owing to the increasing demand for adhesive tapes from emerging economies in the region.
Q5. What factors are anticipated to drive the solvent-based adhesive tape market growth?
A5. The burgeoning use of solvent-based adhesive tapes in automobile manufacture and maintenance will drive up demand for them.
Avery Dennison Corporation
Intertape Polymer Group
Berry Global Inc
Lohmann GmbH & Co.KG
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