Pressure Sensitive Adhesive Tapes Market Predicted To Reach USD 92.45 Billion By 2030

Posted by Neha Bora on January 12th, 2023

San Francisco, 12 Jan 2023: The Report Pressure Sensitive Adhesive Tapes Market Size, Share & Trends Analysis Report By Product (Specialty Tapes, Packaging Tapes, Consumer Tapes), By Region, And Segment Forecasts, 2022 - 2030

The global pressure sensitive adhesive tapes market size is expected to reach USD 92.45 billion by 2030, expanding at a CAGR of 4.9% from 2022 to 2030, according to a new study by Grand View Research, Inc.This growth can be attributed to the increasing use of pressure sensitive tapes as an optimum alternative to conventional adhesives and fasteners due to the globally rising concerns from the automotive industry to ensure light weighting.

A surge in the global population coupled with expeditious industrialization and urbanization in the transpiring economies is expected to fuel the construction spending to cater to the demand from the infrastructure sector. This is anticipated to propel the demand for pressure sensitive adhesive tapes in construction applications during the forecast period.

These include specialty tapes used in various applications such as automobile, aerospace, medical, hygiene, and white goods. The raw materials involved in manufacturing this kind of tape include rubber, acrylic, silicone, plastic, and paper. Pressure sensitive adhesive tapes possess various desirable properties such as thinner and lighter material, vibration dampening, noise reduction, and bonding dissimilar surfaces.

Automobile manufacturers are looking for ways to reduce vehicle weight to meet stringent fuel efficiency standards. The use of steel, aluminum, and composites in auto parts bring new bonding challenge for manufacturers. The bonding of these dissimilar materials requires high modulus and a wide temperature range, along with high strength and final curing. Additionally, these tapes are easy to use, hence reducing the effectiveness of traditional bonding methods such as welds and rivets in the vehicle.

There is an increase in demand for pressure sensitive adhesive tapes from the automotive industry for sealing and bonding roof trims and cladding, covering mirror mounting and assembling holes, and carrying out interior placement and enhancement in automobiles. They are also used in electric vehicle batteries owing to their excellent electrical resistance. Pressure sensitive adhesive tapes help improve the speed of the automobile, along with offering better performance in assembly lines than other fastening alternatives.

Pressure sensitive adhesive tapes are more efficient to lower the costs involved when compared to alternative fastening methods. In addition, they are more customizable and require no special tools or any heat, water, and solvent to activate their adherence. Pressure sensitive adhesive sheets allow original equipment manufacturers (OEMs) and automotive converters to manufacture a slimmer vehicle with better long-term reliability. Compared to conventional fasteners, screws, and other components, pressure sensitive adhesive tapes offer good cohesive strength, the ability to be manipulated by hand, wetting, and bond strength that increases with time.

The prominent companies serving across North America, Europe, and Asia Pacific are focused on providing efficient product line in order to be competent in the global market. Players such as 3M, Intertape, and Tesa are investing in R&D to facilitate new technologies to provide solvent-free adhesives.

Access Research Report of Pressure Sensitive Adhesive Tapes Market @ https://www.grandviewresearch.com/industry-analysis/pressure-sensitive-adhesive-tapes-market-report

Pressure Sensitive Adhesive Tapes Market Report Highlights

• Packaging tapes accounted for the largest revenue share of over 45.0% in 2021 as they are majorly manufactured with plastic as a backing material owing to its easier tearing ability and superior flexibility
• The construction segment held a significant revenue share in 2021 owing to robust and durable properties acquired from stronger backing materials
• The market demand was boosted owing to the global outbreak of the COVID pandemic in 2020. Consumer shopping trends have switched to online delivery portals for groceries, medicines, and takeaways. This further contributed to the increasing market demand for pressure sensitive adhesive packaging tapes in the global market
• The market consists of several global and regional players providing a diversified range of products, thus leading to high competition in the industry. Strategies followed by key players include mergers & acquisitions and vertical integration to gain a competitive edge in the market
• Asia Pacific is estimated to register the fastest CAGR from 2022 to 2030 in terms of revenue owing to increasing urban population and rising construction projects

List of Key Players of Pressure Sensitive Adhesive Tapes Market

• Tesa SE
• 3M
• Nitto Denko
• LINTEC Corporation
• Henkel
• Berry Plastics
• Intertape Polymer
• Avery Dennison
• Scapa
• HB Fuller
• Ashland
• The Dow Chemical Company
• Arkema Group
• Sika AG

Access Press Release of Pressure Sensitive Adhesive Tapes Market @ https://www.grandviewresearch.com/press-release/global-pressure-sensitive-adhesive-tapes-market