The global Double-Sided Adhesive Tapes market size was USD 10.39 Billion in 2022 and is expected to reach USD 18.31 Billion in 2032, and register a revenue CAGR of 6.5% during the forecast period. Double-sided tapes are increasingly being used in the construction and automotive industries, due to its better bonding power and simplicity of use, which is one of the major factors driving market revenue growth.
Need for double-sided tape is being driven by rapid expansion of the construction sector and rising worldwide construction projects. In addition, popular in automobile applications, double-sided tape is frequently used to affix external trim, logos and mirrors. Double-sided tapes are becoming popular in the automotive sector due to their high shear strength and resistance to harsh weather conditions.
The report identifies hot-melt adhesive as the largest technology segment, accounting for ~43% of the market share in 2018. This segment is expected to grow at a CAGR of 7.0% during the forecast period. The report also highlights acrylic adhesive tapes as the largest market share segment (~32%) in 2018, while silicone adhesive tapes are expected to grow with a CAGR of 6.7% during the forecast period.
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The Asia Pacific region held the largest market share of ~27% in 2018 and is anticipated to witness the highest CAGR of 7.1% during the forecast period. The report lists key players in the market including 3M Company, Lintec Corporation, Shurtape Technologies, and Avery Dennison Corporation, among others.
Double Sided Tape Market: Drive factors
The Double-Sided Adhesive Tapes market has several drive factors that contribute to its growth and demand. Some of the key drive factors are:
- Increasing demand in various industries: The double-sided tape market is driven by the growing demand from various industries such as automotive, construction, electronics, packaging, and healthcare. Double-sided tapes are widely used in these industries for bonding, mounting, and fastening applications.
- Growing preference for lightweight and compact products: With the increasing focus on lightweight and compact products, double-sided tapes offer an efficient alternative to traditional bonding methods such as screws, bolts, and adhesives. They provide strong adhesion while reducing weight and improving aesthetics.
- Advancements in tape technology: Continuous advancements in tape technology, including the development of high-performance adhesives and innovative backing materials, have expanded the application scope of double-sided tapes. These technological advancements have improved tape durability, temperature resistance, and overall performance, further driving market growth.
- Rising adoption of flexible displays: The increasing demand for flexible displays in smartphones, tablets, and wearable devices has propelled the need for reliable bonding solutions. Double-sided tapes are widely used in the assembly of flexible displays, enabling manufacturers to achieve seamless, lightweight, and flexible designs.
- Surge in e-commerce and online retailing: The rapid growth of e-commerce and online retailing has significantly increased the demand for packaging materials. Double-sided tapes are extensively used for sealing packages, securing labels, and assembling cartons, driving the market growth.
- Focus on sustainability and eco-friendly solutions: As environmental concerns rise, there is a growing preference for eco-friendly adhesive solutions. Double-sided tapes with water-based adhesives or solvent-free formulations are gaining popularity as they offer lower environmental impact compared to traditional adhesive products.
- Increasing construction activities: The construction industry plays a crucial role in the double-sided tape market. Double-sided tapes are used for applications such as bonding trims, mounting signs, attaching panels, and installing flooring materials. The growth of the construction sector, particularly in developing economies, contributes to the market's expansion.
- Growing automotive production: The automotive industry is a significant consumer of double-sided tapes. These tapes are used for various applications in vehicles, including interior trim bonding, exterior trim attachment, emblem mounting, and wire harnessing. With the rising automotive production worldwide, the demand for double-sided tapes is increasing.
These drive factors, along with the versatility, convenience, and cost-effectiveness of double-sided tapes, are fueling the market growth and expanding their applications across multiple industries.
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