Pressure Sensitive Adhesive Tapes Global Market Report 2024

The pressure sensitive adhesive tapes market size has grown strongly in recent years. It will grow from $65.52 billion in 2023 to $70.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed in the historical period can be attributed to factors such as the rising pace of industrialization, the implementation of environmental regulations, the growth of the automotive industry, increasing demand in emerging markets, and the influence of global economic trends.

The pressure sensitive adhesive tapes market size is expected to see strong growth in the next few years. It will grow to $93.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be attributed to increased awareness of health and hygiene, ongoing urbanization and construction activities, sustainability initiatives, the trend towards electric vehicles (EVs), and the adoption of digitalization in manufacturing. Key trends expected in the forecast period include a growing demand for sustainable solutions, advancements in technology, the expansion of the e-commerce and logistics industry, an emphasis on customization and personalization, and increased attention to health and safety concerns.

The continuous expansion of the construction sector is a significant contributor to the ongoing growth of the pressure-sensitive adhesive tapes market. Within the business and manufacturing realm, the construction sector focuses on building, maintaining, and repairing infrastructure. Pressure-sensitive adhesive tapes find extensive use in the construction sector for applications such as reinforcing foundation membranes, sealing argon gas between windowpanes, and supporting and securing ducting. These tapes are valued for their ability to withstand moisture and extreme temperatures, making them suitable for applications such as rooftop sealing to keep out the elements. Notably, the US construction industry witnessed an increase in size from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022, as reported by the Bureau of Economic Analysis (BEA). Consequently, the surge in the construction sector is expected to propel the pressure-sensitive adhesive tapes market.

The burgeoning demand within the packaging industry is playing a significant role in driving the growth of the pressure-sensitive adhesive tapes market. The packaging industry encompasses the design, production, and distribution of materials and containers used for containing, protecting, and presenting goods. The industry's increasing emphasis on greener and more sustainable materials, driven by global and national regulations and consumer preferences for eco-friendly products, is a major driver for the pressure-sensitive adhesives market. Projections indicate a worldwide increase in sales in the packaging market by $278.59 billion between 2019 and 2023. Specifically, the US packaging industry is forecasted to experience a total increase of $315 billion by 2025. Therefore, the growing demand in the packaging sector is anticipated to fuel the pressure-sensitive adhesive tapes market.

A key trend gaining popularity in the pressure-sensitive adhesive tapes market is product innovation. Major players in the pressure-sensitive adhesives market are actively working on developing innovative products to maintain their market positions. For example, Avery Dennison, a US-based manufacturer of pressure-sensitive adhesive materials, launched a new portfolio of pressure-sensitive tapes for the interior building and construction segment in November 2022. The Avery Dennison Interior Surfaces portfolio comprises nine pressure-sensitive tape designs with various adhesive technologies tailored for adhering products to commercial and residential interior surfaces. This portfolio addresses major challenges faced by stakeholders in the building and construction industry, offering simplicity of use, application flexibility, durability, and consumer safety.

Prominent companies operating in the pressure-sensitive adhesive tapes market are dedicated to launching new products to enhance their market standing. For instance, in November 2023, EPS (Engineered Polymer Solutions), a US-based supplier of high-performing, compliant acrylic emulsion technologies, introduced EPS 2133. This all-acrylic polymer, formulated without APEO surfactants, is suitable for permanent and removable pressure-sensitive adhesive applications, delivering the required adhesion and high shear holding strength for various formulations.

In June 2022, Clearlake Capital Group LP, a US-based private equity group specializing in communications, healthcare, and industrial investments, completed the acquisition of Intertape Polymer Group Inc. for an undisclosed amount. This strategic move adds packaging solution offerings, including pressure-sensitive adhesive tapes, to Clearlake's diversified portfolio of investments. Intertape Polymer Group Inc. is a Canada-based company specializing in packaging products and systems, particularly the manufacturing of pressure-sensitive adhesive tapes.

Major companies operating in the pressure sensitive adhesive tapes market report are 3M Company, Avery Dennison Corporation, Lintec Corporation, Lohmann GmbH & Co. Kg, Nichiban Co. Ltd., Nitto Denko Corporation, Scapa Group Plc, Shurtape Technologies LLC, Tesa SE, Ellsworth Adhesives India PTY Limited, H.B. Fuller Company, Henkel AG & Co. KGaA, LG Chem Ltd., Arkema Group, Sika AG, Nippon Paint Co. Ltd., Achem Technology Corporation, Yonghe Adhesive Products Co. Ltd., Berry Plastics Corporation, Intertape Polymer Group Inc., JinghuaTape Technologies Co. Ltd., Luxking Group Co. Ltd., Shushi Group Co. Ltd., Shanghai Yongguan Adhesive Products Corp. Ltd., Camat Corporation, ATP Adhesive Systems AG, Applied Plastics, Dunmore Corporation, FLEXcon Company Inc., Labelink Corporation.

Asia-Pacific was the largest region in the pressure sensitive adhesive tapes market in 2023. The regions covered in the pressure sensitive adhesive tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pressure sensitive adhesive tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of pressure-sensitive adhesive tapes include single-coated tapes or single-sided tapes, double-coated tapes, transfer tapes or unsupported tapes, and self-wound tape. Single-coated tapes involve the application of adhesive on one side of a substrate. The types of resins used include acrylic, rubber, silicone, and others. These tapes find applications in various industries such as packaging, electrical and electronics, medical and hygiene, construction, transportation, consumer and office, among others.

The pressure-sensitive adhesive tapes market research report is one of a series of new reports that provides pressure-sensitive adhesive tapes market statistics, including pressure-sensitive adhesive tapes industry global market size, regional shares, competitors with pressure-sensitive adhesive tapes market share, detailed pressure sensitive adhesive tapes market segments, market trends, and opportunities, and any further data you may need to thrive in the pressure sensitive adhesive tapes industry. This pressure-sensitive adhesive tapes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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