The tapes market is expected to experience significant growth, with a projected value of US$ 78.5 billion in 2023, increasing to US$ 126.6 billion by 2033.
The demand for tapes is driven by various factors, including the need for protective packaging to ensure damage-free transportation. However, fluctuations in raw material costs have negatively impacted the business operations of market players.
China’s tape production market is experiencing robust growth, with a 5.9% increase during the analysis period. This growth can be attributed to the country’s significant economies of scale, technological advancements, and the availability of inexpensive labor. In Asia, which includes China, nearly 50% of the global tapes market is situated. Furthermore, technological breakthroughs have resulted in increased patent registrations in the region, fostering innovation. Collaboration between companies and the Global Tape Forum is further shaping the adhesive industry, promising a positive impact on the global market.
In Germany, a major player in Europe, the demand for tapes is notably high, particularly in the automotive sector. Germany, known for its innovation and sustainable development, is increasingly engaged in manufacturing activities. The country’s strong presence in automotive, mechanical engineering, electrical, and chemical industries, with world-renowned companies like Volkswagen, Daimler, BMW, Siemens, and BASF, contributes to this demand. As automotive parts require protective packaging, the tape market in Germany is expected to grow significantly between 2022 and 2032.
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North America plays a pivotal role in the global tape market, contributing 20.7% of the value share in 2022. The region’s high demand for tapes across various industries, including packaging, construction, automotive, and electronics, is driven by technological advancements, infrastructure development, and the presence of key tape manufacturers. North America is poised for continued growth and innovation in the tapes industry, driven by expanding applications and the need for reliable adhesive solutions.
Pressure-sensitive tapes are particularly popular and are expected to record a CAGR of 4.9% from 2023 to 2033. The building and construction industry is a key end-user, contributing to the expansion of the global tapes market, especially with the high consumption of masking tapes.
- China holds a leading position in the market, accounting for nearly one-fifth of the global value share, with increasing demand for protective and secure packaging during import and export.
- The Asia Pacific region, driven by the growing building and construction sector, shows impressive growth potential for the tapes market.
- The demand for pressure-sensitive tapes is high due to their unique characteristics, such as remaining viscous and sticky, allowing them to adhere to surfaces even when wet.
- The wide acceptability and increasing applications of pressure-sensitive tapes, particularly in the Asia Pacific region, contribute to their strong demand and overall market growth.
Pressure-sensitive tapes dominate the global tapes market, holding a share of nearly 62.03%. These tapes create strong adhesive bonds between different materials and are in high demand across various industries.
The building and construction industry is the leading end-user of tapes and is expected to maintain its dominance throughout the forecast period. The automotive sector also presents significant opportunities for double-sided tape manufacturers, with expected growth at a CAGR of 6.1% through 2033.
China is a key player in the tapes market, benefiting from economies of scale, cheap labor, and technological advancements. The region holds almost 50% of the global tapes market, and collaborations between companies and the Global Tape Forum are driving further growth.
Germany, known for its innovation and sustainable development, represents 3.7% of the European tapes market and shows potential for significant growth, particularly in the automotive sector.
North America is a key contributor to the tapes market, with a strong presence across industries such as packaging, construction, automotive, and electronics. Technological advancements, infrastructure development, and the presence of key tape manufacturers contribute to North America’s prominence in the market.
India is also an influential market, experiencing a growth rate of 6.7%. The country’s expanding industrial sectors, infrastructure development, and entry of leading tape manufacturers contribute to the rising demand for tapes in India.
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The Major Key Players Are:
- 3M Company
- Nitto Denko Corporation
- Avery Dennison Corporation
- Berry Global Group Inc.
- Saint Gobain Corporate
- Sonoco Products Company
- Intertape Polymer Group Inc
- Shurtape Technologies, Llc
- PPM Industries SpA
- Pro Tapes & Specialities Inc
- Kruse Adhesive Tape, Inc
- ADH Tape
- tesa SE Group
- Atlas Tapes SpA
- Sicad SpA
Recent Developments
- Tiarco, LLC, a wholly-owned subsidiary of Textile Rubber and Chemical Company, Inc., purchased H.B. Fuller Company’s surfactants, thickeners, and dispersants business in July 2019 for US$ 71 million. The revenues from the transaction may be used to sharpen the company’s emphasis on highly specialized adhesive solutions.
- Berry Global paid US$ 6.5 billion to RPC Group Plc in July 2019. Berry Global became a leading global supplier of value-added protective solutions and one of the leading plastic packaging firms as a result of the purchase.
- Tesa’s subsidiary plant Sparta LLC completed a US$ 20 million expansion of its production plant in April 2018. It began production of strapping tapes and acrylic adhesives to improve its position in North America.
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Key Segments Covered in the Market Report
By Tape Type:
- Pressure-Sensitive Tapes
- Masking Tapes
- Duct Tapes
- Filament Tapes
By Material Type:
- Paper
- Plastic
- Metal Foil
By End Use:
- Automotive
- Electric & Electronics
- Building & Construction
- Pharmaceutical & Medical Devices
- Food & Beverages
- Defense/Aerospace
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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