Global Pressure Sensitive Adhesive Tapes Market Report

Global Pressure Sensitive Adhesive Tapes Market Report, By Resin Type (Acrylic, Rubber, Silicone and Others (Ethylene-Vinyl Acetate (EVA), Butyl, Etc.)), By Type (Single-Coated Tapes Or Single-Sided Tapes, Double-Coated Tapes, Transfer Tapes Or Unsupported Tapes and Self-Wound Tape), By Backing Substrate (Paper, Polypropylene, Polyvinyl Chloride (PVC) and Others (Foam, Cloth, Metal, Polyethylene Terephthalate (PET), Polyethylene (PE), Etc.)), By End-User (Automotive, Building & Construction, Consumer & Office, Electrical & Electronics, Healthcare, Packaging, Paper & Printing, Retail and Others) and Geography – Global Market Share, Trend Analysis & Forecast , 2019 - 2028

Report Code : 1752 | Publish Date : June 2022 | Industry : Chemicals_Materials | Geography : Global


Market Overview - Global Pressure Sensitive Adhesive Tapes Market

Pressure-sensitive adhesive tape, also called PSA is an adhesive tape with a relatively thin flexible material having a single or double-sided coating. These tapes are generally blends of natural or synthetic rubber and resin, acrylic, silicone, or other polymer systems. They are based on many kinds of pressure-sensitive adhesives wherein adhesive is applied on one side or both sides depending upon the tape. They can be easily incorporated into any surface by applying slight pressure, either mechanically or physically. Pressure-sensitive adhesive tapes are designed to deliver engineered assembly solutions for widespread industrial applications, such as packaging, sealing, labeling, electrical insulation, and stationery. The global pressure-sensitive adhesive tapes market is estimated and forecasted in terms of revenue (USD million) generated by the global market. The global pressure-sensitive adhesive tapes market is gaining outstanding growth due to the increasing use of pressure-sensitive adhesive tapes in diverse applications such as automotive, building & construction, consumer & office, electrical & electronics, etc. Moreover, wide acceptance due to ease of applicability of pressure-sensitive adhesive tapes is fuelling the market growth. Furthermore, the overall market is also being propelled by swiftly increasing demand from emerging countries such as China and India. These countries are the major markets for pressure-sensitive adhesive tapes in the APAC region, these countries have a strong manufacturing infrastructure, which propels the market growth. However, the global pressure-sensitive adhesive tapes market is hampered by volatility in raw material prices.

Market Drivers 

Rapid urbanization and industrialization in emerging economies coupled with a rising population are projected to prompt governments to increase their construction spending to cater to increasing infrastructure needs. Over the projected period, this is expected to further fuel the need for pressure-sensitive adhesive tapes in a variety of building applications. Rising transportation demand will increase aircraft manufacturers’ production capacities, which will result in an extension of contracts between manufacturers and material suppliers. Additionally, since the commodity is largely utilized in the manufacture of aircraft interiors and avionics, aircraft replacement is predicted to account for 43% of overall demand over the next 20 years. Demand for lightweight and low-emission vehicles is fueling the expansion of the pressure-sensitive adhesive tape market. In the automotive industry, hot adhesives and polymer-based adhesives are mostly utilized for panel lamination and trim. The demand for such adhesives from the automobile industry is also anticipated to expand as people become more conscious of low-weight vehicles, improved fuel economy, and reduced pollution. Hence, the rising demand for fuel-efficient vehicles is expected to fuel the market’s growth.

Market Opportunity

Potential market prospects are anticipated as a result of the increased development of bio-based pressure-sensitive adhesives in response to growing environmental concerns. PSAs tapes made from biomaterials have less of an impact on the environment as they produce less carbon dioxide. They can compete with petroleum-based adhesives made from starch, soy, and vegetable oils. Additionally, bio-derived polyols from soybeans are used in the production of PSAs. Hence, the growing development of bio-based PSAs is expected to provide lucrative opportunities for the market’s key players.

Market Restraints

The materials used for pressure-sensitive adhesive tapes have environmental implications, which are anticipated to limit the market expansion. Both aquatic and terrestrial species could be threatened by the material used to make PSA. Thus, it is anticipated that rising environmental concerns will impede market expansion. Since pressure-sensitive adhesives have recycling and other health hazards. Strict restrictions and regulations related to their production are predicted to hamper the market during the forecast period. This factor is limiting the adoption of the PSAs across various industries, restraining the market in the projected year.

Market Growth Challenges

Changes in crude oil prices cause fluctuations in the price of raw materials, which have a significant impact on manufacturers’ procurement costs and market expansion. Additionally, restrictions placed on the import of crude oil are expected to have an impact on market oil prices. The number of substitutes, such as adhesives, sealants, and fasteners. Moreover, utilization of the aforementioned products for bonding across various end-use industries is also a challenge for the market key players.

Cumulative Growth Analysis

The report provides an in-depth analysis of the Global Pressure Sensitive Adhesive Tapes Market, including market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. Rapid industrialization & urbanization and rising demand for lightweight & low emission automobiles are attributed to the market’s growth.

Global Pressure Sensitive Adhesive Tape Market Segmental Overview

The Global Pressure Sensitive Adhesive Tape Market comprises different market segments like Resin Type, Type, Backing Substrate, End-Use Industry and geography. 

Pressure Sensitive Adhesive Tapes Market by Resin Type 

Based on resin type, this market is segmented into 
  • Acrylic
  • Rubber
  • Silicone
  • Others (ethylene-vinyl acetate (EVA), butyl, etc.)
Among all resins, silicone-based resin accounted for the largest share of the pressure-sensitive adhesive tape market in 2017. Silicone-based pressure-sensitive adhesive tapes uphold adhesion at high-temperature ranges and can adhere to difficult surfaces, thus driving the segment growth.

Pressure Sensitive Adhesive Tapes Market by Type

Based on type, the global pressure-sensitive adhesive tape market is divided into 
  • Single-coated tapes or single-sided tapes
  • Double-coated tapes
  • Transfer tapes or unsupported tapes
  • Self-wound tape
The double-coated tapes held the largest market share and are anticipated to flourish at a lucrative rate owing to advantages such as multi-functioning and ease of use.

Pressure Sensitive Adhesive Tapes Market by Backing Substrate

Based on the backing substrate, the pressure-sensitive adhesive tape market is segmented into 
  • Paper
  • Polypropylene
  • Polyvinyl chloride (PVC)
  • Others (foam, cloth, metal, polyethylene terephthalate (PET), polyethylene (PE), etc.)
Among various substrates, the paper segment held the largest share of the market, due to the various advantages offered them, including low cost, high elongation, and permanent bonding solutions.

Pressure Sensitive Adhesive Tapes Market by End User

Furthermore, based on the end-use industry, this market is categorized into 
  • Automotive
  • Building & construction
  • Consumer & office electrical & electronics
  • Healthcare
  • Packaging
  • Paper & printing
  • Retail
  • Others (defense, food & beverage, wind energy, solar energy, sports, and aerospace)
Among these, the healthcare segment is anticipated to grow at the highest CAGR, chiefly due to the growing usage of pressure adhesive tapes on surgical containers, monitoring electrodes, and other medical devices.

Pressure Sensitive Adhesive Tapes Market by Geography

The Global Pressure Sensitive Adhesive Tapes Market is studied for the following regions: 
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)
Asia-Pacific is likely to dominate the Pressure Sensitive Adhesive Tapes Market due to flourishing manufacturing industries with rising investments from key manufacturers. After Asia-Pacific, North America is anticipated to emerge as the second-largest market for pressure-sensitive adhesive tapes over the forecast period. Over the projected period, it is expected that robust expansion in end-use industries like electronics, automotive, electrical, and medical will support product demand in the particular region. Moreover, one of the major issues impeding the expansion of the market in the Middle East and Africa is limited production capacity, coupled with rapid economic deterioration in Central and South America.

COVID-19 Impact Analysis on the Global Pressure Sensitive Adhesive Tapes Market

The Global Market for Pressure Sensitive Adhesive Tapes undergoes a 360-degree analysis of micro and macroeconomic factors through the exclusive COVID-19 impact evaluation by Axiom MRC. In addition, a complete analysis of changes in the Global Pressure Sensitive Adhesive Tapes Market expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of pandemics on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The COVID-19 pandemic’s aftereffects hurt the market for pressure-sensitive adhesive tapes. Pressure-sensitive adhesive tapes are mostly used in automotive, electronics, building and construction, and other industries. However, the demand for PSAs tape from the automobile sector has decreased due to negative effects on the industry. Large-scale manufacturers in the automobile industry have been influenced by factors like disruption in value chain analysis. For instance, the global travel ban and the temporary shutdown of manufacturing centers have impacted key exporters of automobile parts from China, which in turn has pivoted automotive manufacturers across Europe. Additionally, automotive assembly plants all over the United States were closed owing to the possibility of infection among employees which has put a strain on the supply of automotive cars and also affected the market for pressure-sensitive adhesive tapes.

Competitive Landscape Analysis

Businesses in the market, such as Tesa, 3M, and Intertape, are boosting their R&D expenditures to develop technologies, like hot melt and water-based, to provide solvent-free adhesives. Solvent-based technology-enhanced adhesion is promoting its adoption in Europe, where consumers and producers prioritize quality over price. However, a significant factor limiting the competitiveness of European businesses is the increased competition from Asian manufacturers with their low-cost products. Strategies such as product innovation and collaborations are adopted by global players as well as regional players, to maintain product quality, thus rendering market sustainability.
Some of the key market players in the global pressure-sensitive adhesive tape market include 
  • 3M Company
  • Avery Dennison Corporation
  • H.B.Fuller
  • Intertape Polymer Group, Inc.
  • K.L. & Ling, NICHIBAN CO., LTD.
  • Lintec Corporation
  • Lohmann GmbH & Co. Kg
  • Nichiban Co. Ltd.
  • Nitto Denko Corporation
  • Saint-Gobain
  • Scapa Group Plc
  • Shurtape Technologies, LLC
  • Tesa SE

Recent Development:

June 2021: Avery Dennison Performance Tapes expanded its production facility in Painesville, Ohio, by more than 32,000 square feet. This helps the business attract new and existing customers of pressure-sensitive specialty tape in the packaging, automobiles, and standardized production and construction industries.
February 2020: in Kurkumbh, India, near Pune, Henkel Adhesives Technologies unveiled its new production plant. The company seeks to meet India’s expanding industrial need for high-performance adhesives, sealants, and surface treatment products. The new facility, which was designed as a smart factory, will support a variety of industry 4.0 processes and adhere to the highest standards of sustainability. 
June 2019: BASF SE, a leader in the production of raw materials for pressure-sensitive adhesives, doubled its capacity to produce acResin in Ludwigshafen. A UV acrylic hot melt called AcResin is used to make pressure-sensitive adhesives.

Pressure Sensitive Adhesive Tapes Market Summary

Global pressure-sensitive adhesive tapes market based on resin type, type, backing substrate, end-use industry, and geography. Based on resin type, this market is segmented into acrylic, rubber, silicone, and others (ethylene-vinyl acetate (EVA), butyl, etc.). Among all resins, the silicone-based resin accounted for the largest share of the pressure-sensitive adhesive tapes market. Silicone-based pressure-sensitive adhesive tapes uphold adhesion at a high-temperature range and can adhere to difficult surfaces, thus driving segment growth. Based on type, the global pressure-sensitive adhesive tapes market is alienated into single-coated tapes or single-sided tapes, double-coated tapes, transfer tapes or unsupported tapes, and self-wound tapes. The double-coated tapes held the largest market share and are anticipated to flourish at a lucrative rate owing to advantages such as multi-functioning and ease of use. Based on the backing substrate, the pressure-sensitive adhesive tapes market is segmented into paper, polypropylene, polyvinyl chloride (PVC), and others (foam, cloth, metal, polyethylene terephthalate (PET), polyethylene (PE), etc.). Among various substrates, the paper segment held the largest share of the market, due to various advantages offered by them including low cost, high elongation, and permanent bonding solutions. Furthermore, based on end-use industry, this market is categorized into automotive, building & construction, consumer & office, electrical & electronics, healthcare, packaging, paper & printing, retail, and others (defense, food & beverage, wind energy, solar energy, sports, and aerospace). Among these, the healthcare segment is anticipated to grow at the highest CAGR, chiefly due to the growing usage of pressure adhesive tapes on surgical containers, monitoring electrodes, and other medical devices. By geography, the global pressure-sensitive adhesive tapes market is studied across the countries of key regions such as North America, Europe, Asia Pacific, and the Rest of the World. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The demand for pressure-sensitive adhesive tapes is increasing in emerging markets such as China and India, due to robust growth of infrastructure, rising disposable income, and availability of raw materials.

SCOPE OF THE REPORT:

Market Sizing for Year:
2019-2028
Base Year:
2021
Forecast Period:
2022-2028
Value:
USD Million
Market Segment studied:

Resin Type

Type

Backing Substrate

End User

Geography
Market Players and its Competitors:

3M Company

Avery Dennison Corporation

H.B.Fuller

Intertape Polymer Group, Inc.

K.L. & Ling

NICHIBAN CO., LTD.

Lintec Corporation

Lohmann GmbH & Co. Kg

Nichiban Co. Ltd.

Nitto Denko Corporation

Saint-Gobain

Scapa Group Plc

Shurtape Technologies, LLC

Tesa SE

FREQUENTLY ASKED QUESTIONS

What are the drivers for the Pressure Sensitive Adhesive Tapes Market?

The key driving factors of the market are increasing industrialization and globalization.

Which is the leading end-user for Pressure Sensitive Adhesive Tapes Market?

Automotive Industries has accounted for the major market share and is expected to witness growth at the highest pace during the forecast period.

Which region is gaining a majority of market share during the forecast period (2022-2028)?

Asia Pacific is expected to dominate the Pressure Sensitive Adhesive Tapes market during the forecast period (2022-2028).