The global pressure sensitive adhesive tapes market size was valued at USD 60.30 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. The rise in concerns regarding automobile light weighting across the globe has led to increased adoption of pressure sensitive adhesive tapes through the substitution of conventionally used products such as fasteners and adhesives. The increasing population coupled with rapid urbanization and industrialization in emerging economies is projected to prompt governments to increase their construction spending in order to cater to rising infrastructure needs. This, in turn, is anticipated to fuel the demand for pressure sensitive adhesive sheets in various construction applications over the forecast period.
Pressure-sensitive strips are manufactured from a combination of adhesives, carriers, and liners. The adhesives are capable of attaching or bonding surfaces or components to form an attachment. These are used to bond metals, plastics, wood, glass, and foams. The significantly used adhesives in pressure sensitive adhesive strips include silicone, acrylics, and rubber. The carriers are used to apply sealants and liners to help maintain a barrier between two surfaces of dual-sided videos. The carrier material is majorly made of paper and plastic.
The usage of pressure-sensitive adhesive tapes in automotive applications is increasing worldwide with the surging adoption of electric vehicles. These are used in automobile batteries for cell-to-cell bonding, along with providing thermal runaway protection against excessive heat. The low weight of pressure-sensitive adhesive tapes helps in increasing the fuel efficiency of vehicles, while their transparent surface helps maintain the aesthetic appeal of the automobile.
Manufacturers of PSA tapes are working on innovations to cater to new markets and further demand creation; hence, manufacturers need to seize the opportunity to sustain themselves in the market. These manufacturers engage in evolving their relationship with OEMs, adhesive coaters, and tape converters. Manufacturers offering PSA tapes distribute their products through direct channels or third-party distributors. These also provide customizations and personal quotations for PSA tapes through their websites.
The end-use industries of PSA strips include automotive, aerospace, construction, electronics, white goods, and medical owing to their adhesion and high tack. They are engaged in the fastening, masking, sealing, and joining of two substrates. The end-users choose manufacturers based on the raw materials used, the application temperature, and the substrate's texture.
The packaging tapes segment accounted for the largest revenue share of over 45.0% in 2021. Packaging strips are used across various industries, including transportation, food & beverages, and e-commerce. The increasing globalization and development have boosted e-commerce, thus driving the demand for pressure sensitive adhesive packaging tapes. These tapes are majorly produced from polyester plastic, including polypropylene and polyvinyl chloride. Packaging tapes are manufactured to provide clean positioning, good adhesion, and elasticity.
An increase in transportation activities for industrial and consumer goods is also augmenting the demand for packaging tapes. In addition, following the outbreak of the COVID-19 pandemic, consumer shopping trends have switched to online delivery portals for groceries, medicines, and takeaways, thus driving the market for packaging tapes.
Specialty pressure sensitive adhesive tapes are customized strips used in electrical, construction, automotive, and medical applications. They are developed based on the requirements of applications wherein they are to be employed using specific raw materials such as polyethylene terephthalate, polyvinyl chloride, and woven and foam materials.
These tapes possess strong adhesion during the processing of semiconductors. For instance, while patterning the circuit on the wafer, the thickness of the water needs to be kept uniform to avoid foreign shock. Once the water patterning is done, the backside of the wafer is ground to make a wafer of suitable thickness. This is where pressure-sensitive adhesive tapes help in terms of protecting the patterned circuit on the wafer.
Pressure-sensitive adhesive tapes are also used in electric vehicle batteries owing to their excellent electrical resistance. These strips help improve the speed of the automobile, along with offering better performance in assembly lines than other fastening alternatives. The market for pressure-sensitive adhesive tapes is expected to grow significantly during the forecast period owing to increasing investments in the development of electric vehicles in North America, Europe, and Asia Pacific.
The Asia Pacific region accounted for the largest revenue share of over 35.0% in 2021. This growth is attributed to developing countries such as China, South Korea, and India in the Asia Pacific region. China corresponds to one-third of global consumer electronics output owing to increasing demand for efficient and slim electronic gadgets from consumers.
The prevailing trend of shopping through e-commerce portals owing to the COVID-19 pandemic and the increasing volume of home-delivered orders have led to rising demand for pressure-sensitive adhesive tapes utilized in packaging applications in the country. Increasing production of different electronic devices in the rest of Asia Pacific is expected to increase the demand for pressure sensitive adhesive strips in the region. Additionally, the number of emerging small- and medium-sized companies is increasing in the rest of Asia Pacific owing to ongoing technological developments in the market.
India and Indonesia also expect an increase in the production of pressure-sensitive adhesive tapes in the coming years owing to rapid industrialization and urbanization, although India has a low concentration of manufacturers compared to the global pressure sensitive adhesive market. Additionally, Japan has witnessed only a slight growth in 2020 owing to the inactive domestic market of PSA strips during the lockdown of 2020.
The demand for pressure-sensitive adhesive tapes in Central and South America is anticipated to surge during the forecast period owing to increasing industrial activities and the growing number of manufacturing facilities in the region. Brazil exhibits a strong growth potential for the market as these are increasingly used in construction activities, sports equipment, electronic devices, and electrical goods in the country. In addition, there is a considerable inter-regional trade taking place for pressure-sensitive adhesive tapes among Argentina, Chile, Venezuela, and Colombia.
The market is dominated by a few leading players, such as 3M Company, Avery Dennison, Tesa, and Intertape, who cater to most of the global market share. These companies incur low production costs owing to their manufacturing setups in cost-effective regions and higher production volumes (economies of scale). The established client base and presence in several locations offer leading manufacturers a competitive advantage over emerging players.
The product and price differentiation among the market vendors in pressure sensitive adhesive tapes are very low, which results in the players striving for higher market superiority. This has resulted in intense competitive rivalry among the players. The industry is witnessing an increasing adoption of advanced technology in the manufacturing of pressure-sensitive strips to enhance their properties. Key industry participants focus on investments in research & development and product innovations in order to gain a competitive edge over other players. Some prominent players in the global pressure sensitive adhesive tapes market include:
The Dow Chemical Company
Market size value in 2022
USD 63.37 billion
Revenue forecast in 2030
USD 92.45 billion
CAGR of 4.9% from 2022 to 2030
Base year for estimation
2017 - 2020
2022 - 2030
Revenue in USD million/billion, volume in million square meters, and CAGR from 2022 to 2030
Revenue forecast, volume forecast, growth factors, and trends
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; Canada; Mexico; Germany; U.K.; China; India; Japan; Brazil
Key companies profiled
3M; Nitto-Denko; Tessa Se; LINTEC Corporation; Avery Dennison; Scapa; Henkel; Berry Plastics; Intertape Polymer; HB Fuller; Ashland; The Dow Chemical Company; Arkema Group; Sika AG
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This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global pressure sensitive adhesive tapes market report on the basis of product and region:
Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2030)
Paper & Printing
Retail & Graphics
Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2030)
Central & South America
Middle East & Africa
b. The global pressure sensitive adhesive tapes market size was estimated at USD 60.30 billion in 2021 and is expected to reach USD 63.37 billion in 2022.
b. The global pressure sensitive adhesive tapes market is expected to grow at a compound annual growth rate of 4.9% from 2022 to 2030 to reach USD 92.45 billion by 2030.
b. The packaging tapes segment dominated the pressure sensitive adhesive tapes market with the market share of 65.1 % in 2021. This growth is accounted rapidly rising ecommerce industry around the world.
b. Some of the key players operating in the pressure sensitive adhesive tapes market include 3M, Nitto-Denko, Tessa Se, LINTEC Corporation, Avery Dennison, Scapa, Henkel, Berry Plastics, Intertape Polymer, HB Fuller, Ashland, The Dow Chemical Company, Arkema Group, and Sika AG
b. The key factors driving the growth of pressure sensitive adhesive tapes market include growing investments in the construction sector and increasing demand for automobiles in the developing countries..
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