Adhesive Tapes Market size is projected to cross USD 187 Billion by the end of 2035, growing at a CAGR of 8.80% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of adhesive tapes was over USD 68 Billion. The growth of the adhesive tapes market can be attributed to the increasing demand of adhesive tapes from various industries. Adhesive tapes are used in a wide range of industries, including automotive, electronics, healthcare, packaging, construction, and others. Additionally, the packaging industry is expanding rapidly. For instance, amidst the e-commerce boom, the Indian packaging industry is experiencing rapid growth and is one of the fastest growing sectors. According to the Indian Institute of Packaging (IIP), packaging consumption in India has increased by 200% over the last decade, from 4.3 kg per person per year (pppa) to 8.6 kg pppa.
In addition to this, the growth of the e-commerce industry has led to an increase in the demand for adhesive tapes for packaging and shipping purposes. Global e-commerce sales are projected to reach USD 6 trillion by the year 2024, up from USD 3.53 trillion in the year 2019. Mobile e-commerce sales are growing at a faster rate than desktop sales. In the year 2020, mobile e-commerce sales accounted for nearly 45% of total e-commerce sales worldwide, up from 40% in the year 2018. First coined by Kevin Duffey at the inception of the Global Mobile Commerce Forum in 1997, the term mobile commerce means "bringing electronic commerce capabilities directly into the hands of consumers, wherever they are, via wireless technology." These are the factors that are predicted to present the potential for adhesive tapes market expansion over the projected period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
8.80% |
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Base Year Market Size (2023) |
USD 68 Billion |
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Forecast Year Market Size (2035) |
USD 187 Billion |
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Regional Scope |
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Application (Automotive, Healthcare, Packaging, Electronics)
The global adhesive tapes market is segmented and analyzed for demand and supply by application into automotive, healthcare, packaging, electronics, and others. Out of the five types of end users, the automotive segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be accredited to the increasing production rate of electric vehicles worldwide and the growing awareness of the global population about the negative impact of traffic emissions on human health and the environment. This is backed by the expected high demand. The International Energy Agency reported that in 2021, electric vehicle sales surpassed its 2020 sales, nearly doubling to 6.6 million. Tapes designed for vehicles are primarily used for specific purposes and therefore require a different type of adhesive. Masking tape, for instance, is used as an adhesive tapes market for painting automobiles. It protects vehicle's windows, exterior and interior when painting.
Material {Polypropylene (PP), Paper, Polyvinyl Chloride (PVC)}
The global adhesive tapes market is also segmented and analyzed for demand and supply by material into polypropylene (PP), paper, and polyvinyl chloride (PVC). Amongst these three segments, the polyvinyl chloride (PVC) segment is expected to garner a significant share of around ~30% in the year 2035. The growth of the segment can be accredited to the growing demand of PVC in the construction industry. PVC is widely used in the construction industry for applications such as pipes, window profiles, and roofing membranes. As the construction industry continues to grow, particularly in emerging economies, the demand for PVC is expected to increase. PVC is used in various automotive applications, such as seat covers, dashboard skins, and insulation. As the automotive industry continues to grow, particularly in Asia Pacific, the demand for PVC is expected to increase. PVC is used in various packaging applications, such as blister packaging, shrink wrapping, and food packaging. As the packaging industry continues to expand, particularly in e-commerce and food and beverage sectors, the demand for PVC is expected to increase. PVC can be made with eco-friendly additives that reduce its environmental impact, such as phthalate-free plasticizers and bio-based additives. The demand for eco-friendly PVC is expected to increase as consumers become more environmentally conscious. As urbanization continues to increase globally, the demand for PVC products in construction and infrastructure applications is expected to rise, leading to growth in the PVC segment over the forecast period.
Our in-depth analysis of the global adhesive tapes market includes the following segments:
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By End User |
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By Material |
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APAC Market Statistics
The adhesive tapes market in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can majorly be attributed to the increasing demand for vehicles, resulting in increasing vehicle production and sales in the region. Statistics from the International Automobile Manufacturers (OICA) show that in the year 2021, total vehicle production in the region increased from 44 million in 2020 to 46 million in the year 2020. Moreover, the production of electric vehicles is increasing in the Asia Pacific region, and their growing preference is another growth factor for market expansion. For instance, the International Energy Agency announced that China was largest producer of electric vehicles in 2020, with about 1.3 million electric vehicles registered in the same year. Furthermore, the presence of several major EV manufacturers in the region and the increasing development of better battery designs that require adhesive tape on EVs to provide maximum benefit to the battery cells used, is expected to drive the growth of the regional adhesive tapes market.
North American Market Forecast
The North America adhesive tapes market,amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the rapid expansion of the automotive industry in the region. Approximately 923,000 Americans are engaged in manufacturing automobiles and their parts, and 1,251,600 work in dealerships. As of the year 2021, the U.S. auto and parts industry generated approximately USD 1.5 trillion in revenue. The automobile industry contributes 3% of its GDP to America. In addition, increased per capita income for local residents is estimated to enable them to switch to individual, environmentally friendly vehicles. Nearly 75% of Americans said they owned a car by the year 2022, and another 20% say they would own a business or family car by 2024. Hence, this is expected to drive the adhesive tapes market growth in the North America region.
Europe Market Forecast
Further, the adhesive tapes market in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing demand for lightweight and fuel-efficient vehicles. Adhesive tapes are widely used in the automotive industry for bonding and joining applications, particularly in lightweight and fuel-efficient vehicles. As the demand for such vehicles increases in Europe, the demand for adhesive tapes in the automotive industry is expected to grow. With the increasing trend of online shopping in Europe, the demand for packaging tapes used for e-commerce applications is also increasing. The use of adhesive tapes in packaging offers improved security, convenience, and protection to the products during transportation, which is expected to drive the growth of the adhesive tapes market in Europe. Adhesive tapes are widely used in the construction industry for bonding and sealing applications. As the construction industry continues to grow in Europe, particularly in emerging economies, the demand for adhesive tapes in the industry is expected to increase. Adhesive tapes are widely used in the medical industry for wound care, surgical applications, and other medical procedures. As the demand for medical tapes in Europe increases, the demand for adhesive tapes market in the medical industry is also expected to grow.
BASF SE and Toray Advanced Composites have signed an agreement focused on manufacturing continuous fiber reinforced thermoplastic (CFRT) strips for the automotive and industrial markets.
Tesa SE plans to build a new factory in Vietnam to produce adhesive tapes for the Asian market from 2023.
Author Credits: Smruti Ranjan, Rajrani Baghel
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