Adhesive Tapes Market - Future Trends, Demand & Growth!!!
Adhesive tapes are a combination of backing material and adhesive films for joining two objects. The protection accorded to surface due to its application and advances in technology for making it lightweight can expand its scope multifold. The global adhesive tapes market report by Market Research Future (MRFR) contains drivers, challenges, opportunities, and trends for the period of 2016 to 2022 (forecast period). The critical tape applications during the COVID-19 pandemic are also included and discussed as game changers in the report. Market Scope The global adhesive tapes market is expected to cross USD 62 billion by 2022. The market is expected to grow at a CAGR of 5% during the assessment period. The use of commodity and special tapes in packaging is likely to foster market growth over the forecast period. Awareness of hygiene and rise in disposable income levels has driven the need for adhesive tapes in the healthcare sector. The use of medical devices in various developing economies and the improvements in medical infrastructure can bode well for the market demand. Advances in lightweight materials and its application in various industries can bode well for the market. The leaps made by the ecommerce sector, rise in online shopping, and advances in packaging for customer satisfaction can bolster the market demand till 2022. But fluctuations in raw material prices can restrain the market growth. Segmentation The global adhesive tapes market is segmented by material, technology, and application. By material, it is segmented into paper, polyvinyl chloride, and polypropylene. The polypropylene segment is expected to capture a large market share owing to its use in automotive adhesive tapes. The bonding of electrical components can facilitate the segment growth. By technology, it is segmented into solvent, hot melt, and others. By application, it is segmented into construction, healthcare, food & beverages, packaging, and others. The healthcare segment is expected to gain the lead in the global adhesive tapes market owing to use in monitoring electrodes, surgical containers, and other medical devices. Regional Analysis Asia Pacific (APAC) is the fastest growing market for adhesive tapes and the share is attributed to the growing healthcare market. There is growing awareness among the consumers about health and fitness. This fuels the demand for such tapes in healthcare sector from the region. Also, increased investments in infrastructure and construction to support the large population and urbanization can drive the demand for adhesive tapes in construction sector. However, North America was valued to have the largest market share in 2015 and is expected to expand in size in the coming years. Rising production of vehicles running on fossil fuel and