As per the report published by Fior Markets, the global double sided tape market is projected to reach USD 14.01 billion by 2025 from USD 9.17 billion in 2017. According to the estimates, the market would register a CAGR of 4.69% during the forecast period from 2018-2025. The market is experiencing a continuous demand from developing countries including India, Korea, Vitenam. Demand from paper and printing industry has increased the growth of double sided tape market in Asia Pacific region.
Global Double Sided Tape Market by Resin Type (Acrylic, Rubber, Silicone), Backing Material, Technology, End User (Automotive, Building & Construction, Electrical & Electronics, Paper & Printing), Region and Global Forecast 2018-2025.
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Key players in the industry include Shurtape Technologies, LLC, Lintec Corporation, Avery Dennison Corporation, Lohmann GmbH & Co. Kg, Nitto Denko Corporation, Nichiban Co. Ltd., 3M Company, Intertape Polymer Group, Inc., TESA SE, Scapa Group Plc, Toyochem Co. Ltd, Mactac, LLC, Industrias Tuk, S.A. De C.V., Saint-Gobain Performance Plastics, Tape-Rite Co. Inc., Ajit Industries, Atp Adhesive Systems AG, Toyochem Co. Ltd, Guangzhou Broadya Adhesive Products Co. Major contestants have ramped up their production capacity and they are focusing on new product developments and venture capital investments to obtain market share. The 3M, Nitto Denko, Tesa, Lintec, and Avery Dennison Corporation are the top leading players of the market.
The resin type segment is divided into acrylic, silicone, rubber, and other resins. Silicone segment held the highest market share of 39.67% in 2017. Silicone-based double sided tape has the ability to maintain adhesion over a large temperature range and adhere to difficult surfaces. The adhesive strength of silicone-based tapes is lower than that of other adhesive tapes. Backing material segment includes foam, film, and paper. The paper segment registered around USD 3.57 Billion in 2017. Paper is an environment-friendly and it can be recycled. Through saturation, the properties of paper are enhanced. Saturation is the process wherein paper is treated with latex to improve its chemical and physical properties. This is done to improve its chemical and physical properties so that it can be used as a backing substrate in adhesive tape. Technology segment is divided into solvent-based, water-based, and hot-melt-based. The hot-melt segment is projected to account the highest market share of 38.17% during the forecast period. The features of hot-melt include adhesion, quick set, ease of use, and fast processing. It serves high strength and immediate bond that is needed in various applications including automotive, building & construction, paper & printing, and electrical & electronics. End User segment is segmented into automotive, building & construction, electrical & electronics, paper & printing, and others. As double sided tapes are extensively used during the production of paper, the paper & printing segment is expected to see a growth with the highest CAGR 5.73% during the forecast period from 2018-2025. Retail and digital printing industries are increasing the demand for double sided tapes in the paper & printing industry.
Key drivers for the double sided tape market include growing usage of double-sided tapes in various applications, tremendous demand for Asia Pacific region for double-sided tapes, and immense interest for acrylic and PE foam based double sided tapes worldwide. Whereas, the high price of double sided tape raw materials and end products and double-sided tapes backed on paper/tissue are prone to moisture are expected to be the growth limiting factors of the market. Moreover, development in double-sided tape technology and rising demand for acrylic foam backed tapes in the automotive application is expected to boost the double sided tape market over the forecast period.
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