The double-coated film tapes market is projected to grow at a CAGR of 6.8% by 2032. By 2032, the market, which is currently worth US$ 1.8 billion, is anticipated to be worth US$ 3.47 billion.
Due to their high demand, major players still utilize high-performance double-coated film tapes. Businesses are focusing on the tape used for foam lamination, which is needed indoors and for a variety of polymers and mild metals, including rubber gaskets, where moderate temperature and strong shear performance are needed.
Electronic gadgets commonly employ double-coated film tapes. They have adhesive-coated tissue on both sides, a siliconized paper liner, strong direct and long-lasting adhesive, and good dynamic and static shear resistance, among other things.
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Double-coated film tapes are composed of strong flexible film materials, heavily coated with solvent-based, hot-melt, and water-based adhesives. These film tapes feature a polyester liner that possesses excellent processing, excellent tack adhesion, and die-cutting characteristics. Generally, these double-coated film tapes are applied on plastic parts, extruded parts and rubber profiles of the products and are also used for bonding electronic parts.
There has been a huge change in the way the double coated film tapes market are manufactured, packaged and used across industries over the years due to the growing importance and rising demand for these tapes. However, the unique feature that makes double coated film tapes market more attractive than other tapes is its sheer strength and superior temperature resistance quality. Double coated film tapes are an ideal solution for permanent bonding of two different surfaces and also for mounting of splicing applications.
Double Coated Film Tapes Market: Dynamics
The demand for double coated film tapes is expected to grow at a significant CAGR over the forecast period. Its multi-purpose characteristics and wide application across several where high performance tapes are required at competitive price is one the major driving factors for the double coated film tapes market. Further, rapid growth in the packaging industries with technological advancements has further fuelled this growth. Other advantages associated with these tapes like high initial adhesion with build-up over 24 hours, good adhesion to low surface energy substrates and wider acceptance for indoor and room temperature applications are some features that fuel the growth in the double coated film tapes market. However, rising prices of raw materials and availability of several low cost alternatives can act as restraints in the double coated film tapes market.
Double Coated Film Tapes Market: Region-Wise Outlook
Geographically, the global double-coated film tapes market is divided into five regions North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). Asia Pacific is expected to dominate the growth in the double coated film tapes market, primarily due to huge demand in developing economies like India and China and also because of lower manufacturing cost in these economies. The low manufacturing costs in developing countries are due to easy availability of raw materials and cheap labor.
Further, North America is expected to witness a stagnant growth in the double coated film tapes market over the forecast period, while Europe is expected to experience an average growth in the double coated film tapes market, primarily driven by the production of adhesive tapes in Italy that supplies these tapes to both Eastern and Western Europe. Furthermore, these regions are expected to grow less aggressively in comparison to Asia Pacific, due to shift in production from developed economies to Asia Pacific. Latin America and MEA are expected to experience a moderate growth in the double coated film tapes market.
Double Coated Film Tapes Market: Key Players
Some of the major players for the global double coated film tapes market are, 3M Company, NITTO DENKO CORPORATION, Shurtape Technologies, LLC, Intertape Polymer Group, tesa tape, inc., Adchem Corporation, V. Himark USA, Inc., Parafix Tapes & Conversions Ltd, Elite Tape, MACtac, LLC,.
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