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Chicago, March 27, 2020/PRNewswire/--According to the new market research report "Acrylic, rubber, silicone Adhesive tape market segmentation, water-based), end-use industries (packaging, healthcare, electrical and electronic, automotive) and regions-global forecast to 2025", released by MarketsandMarkets™, tape market is expected to grow from 604 in 2020 Billion US dollars will grow to 79.9 billion US dollars by 2025, with a compound annual growth rate of 5.7% during the forecast period. The main factors driving the tape market include increased demand from end-use industries such as packaging, healthcare, electrical and electronics, and automobiles. These tapes have a wide range of acceptability due to their low cost and easy availability compared to their substitutes-staples and glue.
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It is expected that during the forecast period, silicone will grow at the highest compound annual growth rate
Silicone tape is inherently non-conductive. The main characteristics of silicone tapes include low chemical reactivity, low toxicity and high air permeability, which makes these tapes suitable for medical applications. In the past few years, the demand for silicone-based tapes in various end-use industries has been increasing.
Hot melt technology is expected to grow at the highest compound annual growth rate during the forecast period
The hot melt technology segment is expected to achieve the highest growth during the forecast period. Hot melt tape is the fastest growing type of tape in healthcare applications. These tapes have an extremely high bond formation rate, which can translate into high productivity. In the United States, hot melt technology is widely used in tape production by major players, such as 3M (United States) and Intertape Polymer Group, Inc. (Canada).
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It is expected that during the forecast period, paper will become the fastest growing backing material in the tape market
The paper sector is expected to record the highest compound annual growth rate between 2020 and 2025. Smooth or crepe paper with different elongation and tensile strength is used as the backing material of the tape. Paper tape is used in healthcare, automotive, electrical and electronic, and construction and construction industries.
The Asia-Pacific region is estimated to be the largest and fastest growing tape market
It is estimated that during the forecast period, the Asia-Pacific region will account for the largest share of the tape market. The healthcare, electrical and electronics, and automotive sectors are the main markets for tape manufacturers, as these industries are expected to experience significant growth. In addition, demand from various industries in developing countries such as Japan, India, China, South Korea, Vietnam, Taiwan, and Singapore is driving the growth of the tape market in the Asia-Pacific region. China is the largest consumer of tape in the region and continues to drive global demand.
Major suppliers in the tape market include 3M (USA), tesa SE (Germany), Nitto Denko Corporation (Japan), Lintec Corporation (Japan), Intertape Polymer Group (Canada), Avery Dennison Corporation (USA), Lohmann GmbH (Germany) ), Berry Global Inc. (U.S.), Scapa Group PLC (Canada) and Rogers Corporation (U.S.).
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