The global hot melt adhesive tapes market is anticipated to reach a valuation of US$ 20.1 billion in 2023, driven by a rise in e-commerce and online shopping. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.5% between 2023 and 2033, and reaching a total valuation of approximately US$ 37.7 billion by 2033.
The hot melt adhesive tapes market is experiencing robust growth, driven by increasing demand across various industries such as packaging, automotive, healthcare, and electronics. These tapes offer excellent adhesion, fast setting times, and superior performance under a wide range of temperatures, making them highly versatile and efficient. The growth in e-commerce and logistics industries has significantly bolstered the demand for reliable and durable packaging solutions, where hot melt adhesive tapes play a crucial role. Furthermore, advancements in adhesive technologies have led to the development of eco-friendly and high-performance tapes, catering to the growing demand for sustainable solutions.
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In the automotive sector, the need for lightweight and high-strength bonding solutions has further propelled the market. The healthcare industry also benefits from these tapes, particularly in medical device assembly and secure packaging of medical supplies. The electronics industry relies on hot melt adhesive tapes for their insulating and bonding properties, essential for the assembly of electronic components. The market is also driven by increasing urbanization and industrialization, particularly in emerging economies
Key Takeaways from the Market Study
- Global hot melt adhesive tapes market was valued at US$ 18.8 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.3%.
- Asia Pacific is expected to hold a dominant CAGR of 6.4% during the forecast period.
- By material, polypropylene (PP) segment is expected to constitute a CAGR of 6.4% in 2033.
- On the basis of end-use, electrical & electronics segment is expected to dominate the market with a CAGR of 6.4% in 2033.
- From 2023 to 2033, hot melt adhesive tapes market is expected to flourish at a CAGR of 6.5%.
- By 2033, the market value of hot melt adhesive tapes is expected to reach US$ 37.7 billion.
“Sustainable packaging solutions, across the globe, is a major factor that is expected to propel the growth of the hot melt adhesive tapes market in the near future,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the hot melt adhesive tapes market are Avery Dennison Corporation, Intertape Polymer Group Inc., The 3M Company, Shurtape Technologies, LLC, Irplast S.p.A., Mario Tapes, Hira Industries L.L.C, Scapa Group plc., LINTEC Corporation, and Intercol BV, among others.
Recent Developments:
- In 2023, Nitto Denko announced the launch of its new line of hot melt adhesive tapes that are designed to be more heat-resistant. The new tapes can withstand higher temperatures, making them a more suitable option for applications in harsh environments.
- In 2022, Bostik announced the launch of its new line of hot melt adhesive tapes that are designed to be more user-friendly. The new tapes are easier to apply and remove, making them a more convenient option for businesses and consumers.
- In 2021, Henkel announced the launch of its new line of hot melt adhesive tapes that are designed to be more sustainable. The new tapes are made from recycled materials and are recyclable in standard paper recycling streams.
- In 2021, Arkema announced the launch of its new line of hot melt adhesive tapes that are designed to be more versatile. The new tapes can be used in a variety of applications, including packaging, labeling, and industrial bonding.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global hot melt adhesive tapes market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the hot melt adhesive tapes market, the market is segmented on the basis of material (polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyamide (PA), and poly-Urethanes (PU)), by thickness (less than 25 micron, 25-50 micron, 51-100 micron, above 100 micron), and by end-use (automotive, construction, electrical & electronics, furniture, transportation & logistics, other consumer goods), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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