Increasing consumer and government concerns for low carbon emissions, enhanced passenger safety, and improved performance of the vehicles has enticed the automotive manufacturers to shift their focus from the usage of mechanical fasteners to adhesive tapes to cut down the weight of vehicles. Since mechanical fasteners, such as bolts, and screws, which are used in automobile manufacturing increase the weight of the vehicles, these products are replaced by lightweight adhesive tapes. According to the "International Organization of Motor Vehicle Manufacturers," the number of lightweight vehicles produced worldwide was around 19.5 million in 2017, and it reached around 20.6 million in 2018. Thus, increasing demand from the automobile industry for the manufacturing of lightweight vehicles spur the growth of the adhesive tape market. Adhesive tapes in vehicle manufacturing are designed to endure diverse environmental conditions such as UV radiations, temperature, and moisture variances. Adhesive tapes can reduce the noise inside the vehicles, with their advanced properties such as acoustic insulating and vibration absorption. Furthermore, a rise in the usage of adhesive tapes for the bonding of electronic products in vehicle interiors, coupled with the high sensitivity of the manufacturers towards automobiles aesthetics is anticipated to benefit the market. The global Adhesive Tapes Market size is valued at $50 billion as of 2018 and is anticipated to grow with a CAGR of 5% throughout the forecast period 2019-2025.

Applications of the Adhesive Tapes in Healthcare, Electrical & Electronics Verticals:

Adhesive Tapes in the Healthcare Sector

Adhesive tapes have high demand in the healthcare sector for the primary treatment of wounds by covering and securing to prevent bacterial infections and to stick bandages in place. Considering the bourgeoning number of accidents globally and surgical procedures opted for the respective treatment, adhesives tapes as an innovative treatment is witnessing huge demand. For instance, the annual cost of road traffic injuries alone is estimated at around $500 billion. Adhesive tape bandages are used on fragile or at-risk skin, and in moist skin types. Tapes are air permeable and allow outside air to penetrate and reach the underlying dressing creating a "breathable" healing solution to the wound. Transdermal drug delivery patches are the type of adhesive tapes and are used in therapeutic systems to deliver the drug at a controlled rate by utilizing the passive distribution of drugs when those are applied to the skin. Adhesive tapes with zinc oxide material can reduce the risk of infection. To fix post-surgery shield and for dressing purpose, adhesive tapes are used in the healthcare sector, which in turn, trigger the market growth around the globe.

Adhesive Tapes in Electrical & Electronics

Adhesive tapes at room temperatures can seal the LEDs of the smartphone displays and prevent the moisture content in the air from getting into the device. Due to its minimal thickness capacities, adhesive tapes have a wide range of applications such as fixing wires of a motor, PCB masking for wire soldering, and interlayer insulation of transformers.

Adhesive Tapes Market Trends:

· Many countries across the world are banning the use of hazardous chemicals that are used in the production of adhesive tapes. The introduction of the recyclable adhesive tapes is a significant factor that allows prominent players in the adhesive tapes market to adopt new technology to their existing product portfolios. Strict government regulations, along with a rapid change in end-users ideology toward environment-friendly products have led to the increasing demand for recyclable adhesive tapes. Eco-friendly adhesive tapes are manufactured from biodegradable polymers which are obtained from the polymerization process of the bio-based raw materials, which in turn, have a wide range of applications in varied industrial domains.

· The introduction of the high-performance adhesive tapes for aerodynamic application is the major trend that will contribute to augment adhesive market demand in the upcoming years. The less net thickness of the tape, high bonding strength, high peel resistance, and increased flexibility properties of this tape will further rise the market economies around the globe. These high-performance tapes play a significant role in the fabrication of the aerodynamic structure to be assembled on the exterior structure of the vehicles.

APAC Holding Major Share of the Adhesive Tapes Market

APAC generated approximately 40% of the global revenues in the adhesive tapes market in 2018. APAC countries are witnessing tremendous growth in the commercial vehicle manufacturing, which in turn, is increasing the usage of the adhesive tapes, thereby it's market in this region. According to the International Organization of Motor Vehicle Manufacturers, the growth percentage of commercial vehicles produced in India, Thailand, Indonesia, and Malaysia was around 8, 9, 10, and 12 respectively in 2018. China state council has announced a ten-year manufacturing plan called "Made in China," which focuses more on the high-end equipment manufacturing in different sectors, mainly in automotive and appliances. This factor is anticipated to drive a demand for adhesive tapes market in this region. A rise in aging population, awareness about health issues, and increase in new diseases are the factors influencing the growth of the healthcare sector in Asia-Pacific region, which in turn, led the growth of the adhesive tapes market.

The application segment that will be creating the most lucrative opportunities for the adhesive tapes market is the packaging. This segment is projected to grow at a CAGR of 7% through to 2025. The boom in online shopping in emerging economies is increasing the demand for retail e-commerce packaging, which in turn, requires adhesives tapes for applications such as carton sealing and strapping, in addition to labeling and shipping goods.

The Major Players in the Adhesive Tapes Market:

The prominent players in the adhesive tapes market include Henkel AG & Co. Kgaa, The 3M Company, Avery Dennison Corporation, and H.B. Fuller.

H.B. Fuller, an American-based adhesives manufacturing company, introduced cutting-edge hot melt PSA technology to the Indian market on Sep 5, 2018. An innovative PSA technology which has been designed to provide high adhesion, clean converting on paper and film stock, and precise die-cutting performance to meet unique requirements in the market, ensuring higher productivity while securing bonding excellence.

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Related Reports:

·     Adhesives and Sealants Market

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