The Paper adhesive tape market is expected to grow at a compound annual growth rate of 6.70% to reach a market size worth US$15.315 billion by 2027. This market was valued at US$9.725 billion in 2020. Adhesives are synthetic compounds that are used to stick to a variety of surfaces, including everyday goods, packaging, and masking. These are the materials that are used to keep two surfaces securely connected for a long time. It's a meticulously crafted blend of synthetic rubber, resins, and other materials. Adhesive tapes save time over mechanical assembly methods and are chosen by most consumers because they reduce noise and vibrations. Because of their environmental friendliness, paper adhesive tapes are preferred in a range of applications. Applying paper adhesive tape on commodities or any other item provides protection and value. They're also popular because of their distinct characteristics of being pressure-sensitive, flexible, and effective.
Analysts anticipate that the market will heighten due to the growing demand for paper adhesive tape in various industries during the forecast period.
Crape, kraft, or any other sort of recyclable coating adhesive is offered on the paper adhesive tapes. They're made of crepe paper that's been coated with rubber glue. Paper adhesive tapes are heat-resistant, temperature-resistant, and have a strong grip. The paper adhesive tape's qualities make it suited for applications such as vehicle and aircraft manufacture, appliance manufacturing, circulation, air conditioning and heating, and paper and printing. Furthermore, the increased demand for consumer flexible packaging, as well as the advancement of internet technology and web applications, is likely to boost the overall market growth.
In addition, one of the key driving drivers for the need for paper adhesive tape is consumer interest in the automotive modification industry. Masking, refinishing, spray painting, protecting, and a variety of other automotive customizing applications use paper adhesive tape. Paper adhesive tapes are preferred on a large scale by car customized consumers due to their strong surface protection and ability to produce a clear line after the surface paint. These are the unique features of paper adhesive tapes, which are why they are preferred on a large scale by car-customized consumers. According to the Specialty Equipment Marketing Association, over 32 million families around the world modify their cars or vehicles every year. As a result, advancements in the automotive modification sector are one of the major reasons driving the global growth of the paper adhesive market.
The vulnerability to high temperature can act as a stumbling block to market growth at a global level.
Natural rubber is used as a gum by both large and small-scale paper tape makers for making masking tapes, packing tapes, consumer & stationery tapes, and other types of paper tapes. Rubber-based gum is preferred by paper tape manufacturers over other chemical solutions due to its low cost and instant adhesion. Its application is limited to some extent due to its incapacity to perform in high temperatures for prolonged periods. The fragility of paper tapes to high-temperature ranges could be extrapolated as a significant stumbling block to global market expansion. Furthermore, price fluctuations connected with materials such as resins and adhesives limit the expansion of the paper tapes market to some extent.
The water-based segment is anticipated to witness a tremendous market share considering the type.
Water-based tapes are in high demand in the building and construction industry because of their durability, flexibility, and cost-effectiveness. Because of how they are utilized for packaging reasons across numerous industries, water-based adhesives are best both for porous and non-porous substrates. In the future, rising demand for water-based tapes in the food and beverage industry is likely to promote market growth. Because water-based tapes give products more flexibility, greater protection, and UV resistance, their market in the food manufacturing industry is growing and will continue to grow in the future years. Furthermore, the development of water-based tape will be aided by growth in the building and construction industry. According to the Census Bureau of the United States Department of Commerce, US$1.48 trillion was spent on construction in October 2020, with US$646 billion invested in the housing and residential segment.
A large portion of the market share is expected to go to the construction segment over the forecast period.
Due to the expanding urban population, which is raising the expectations for a secure, healthy urban environment and sustainable building demand, the paper adhesive tape market is predicted to have a strong market in the range of applications in the building and construction industry. To withstand environmental and mechanical stress, paper adhesive tape is employed. Furthermore, the growing use of adhesive equipment in the construction industry is expected to propel the entire market forward throughout the forecast period. Furthermore, increased building activity in various developing nations is predicted to result in a huge market for paper adhesive tape, which is expected to drive market expansion. In the coming years, the Middle Eastern Region, for example, is expected to invest significantly in the building sector. The FIFA World Cup will be played in Qatar in 2022. In 2017, the country's finance minister indicated that the country was spending US$500 million every week on big infrastructure projects and that this expenditure will continue for the next three to four years.
According to regional analysis, the paper adhesive tape market in the Asia Pacific is expected to hold a significant share during the projected period.
Asia-Pacific is anticipated to grow its presence in the paper adhesive tape market. The need for paper adhesive tape is predicted to expand as development and infrastructure projects in countries such as India, China, and Japan increase. The National Highways Authority of India, for example, declared in 2021 that it would work on seven national highways for Rs7,040 crore, to complete them by the end of 2023. As a result of these developments, the paper adhesive tape market in this region is expected to grow substantially in the future years.
COVID-19 Impact on Paper Adhesive Tape Market
COVID-19 has harmed the growth of the paper adhesive tape market. Various governments have implemented lockdown and harsh restrictions during the epidemic, effectively shutting down global manufacturing activities in the first quarter of 2020. However, due to global expansion in automotive, electronic, and construction activities, the market is likely to rebound in the coming years.