Double Sided Tape Market by Resin Type (Acrylic, Rubber, Silicone), Technology (Solvent, Water, and Hot Melt), Backing Material (Foam, Film, Paper), End-Use (Automotive, Building & Construction, Paper & Print), and Region - Global Forecast to 2023
“The double sided tape market is projected to grow at a CAGR of 6.93% between 2018 and 2023, in terms of value.”
The double sided tape market is projected to grow from USD 9.41 billion in 2018 to USD 13.15 billion by 2023, at a CAGR of 6.93% between 2018 and 2023. The rising demand for double sided tapes across various applications, such as electrical & electronics, building & construction, automotive, and paper & printing, is expected to drive the growth of the double sided tape market. Increasing environmental concerns and growing number of regulatory policies have propelled manufacturers of double sided tapes to focus on the development of eco-friendly products. Volatile raw materials prices and backing material prices are acting as a restraint to the growth of the double sided tape market. Foam backing material costs are rising across the globe which is affecting the foam backed double sided tape market. Most raw materials used in the development of double sided tapes are petroleum-based derivatives that are vulnerable to fluctuations in commodity prices.
“Based on application, the automotive segment is expected to lead the double sided tape market during the forecast period.”
Based on application, the automotive segment is projected to lead the double sided tape market from 2018 to 2023, in terms of volume. In the automotive application, double sided tapes are used in plate panels, roof molding, outer belt moldings, rocker panel/claddings, emblem & name plates, rear spoilers, body & bumper side moldings, side mirrors, and side fenders/wheel flares.
“The Asia Pacific region is expected to lead the double sided tape market during the forecast period.”
Based on region, the APAC region is projected to lead the double sided tape market from 2018 to 2023, in terms of volume. The economic growth of emerging countries, such as China, India, Taiwan, Indonesia, Vietnam, and Malaysia, is projected to drive the demand for double sided tapes in the Asia Pacific region. China is projected to lead the double sided tape market in the Asia Pacific region. Factors such as increasing automotive production, availability of cheap labor and raw materials, low taxes, and less stringent environmental regulations are driving the growth of the double sided tape market in China.
Breakup of Primary Interviews:
By Company Type: Tier 1 - 65%, Tier 2 - 27%, and Tier 3 - 8%
By Designation: C-Level Executives - 46%, Directors - 40%, and Others - 14%
By Region: North America - 37%, Europe - 21%, Asia Pacific - 26%, South America - 8%, and the Middle East & Africa - 8%
3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), Avery Dennison Corporation (US), Shurtape Technologies, LLC (US), and Scapa Group Plc (UK) are the key players operating in the double sided tape market.
This report provides detailed segmentation of the double sided tape market on the basis of resin type, technology, backing material, application, and region. Based on resin type, the market has been segmented into acrylic, rubber, silicone, and others. Based on technology, the market has been segmented into solvent-based, water-based, and hot-melt. Based on backing material, the market has been segmented into foam, film, paper/tissue, unsupported, and others. Based on application, the market has been segmented into electrical & electronics, automotive, paper & printing, building & construction, and others. Based on region, the market has been segmented into Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
Reasons to Buy the Report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players in the double sided tape market, and company profiles. These insights together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the double sided tape market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on double sided tape offered by top players in the double sided tape market
Product Development/Innovations: Detailed insights on upcoming technologies, research & development activities, and new product launches in the double sided tape market
Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the market for double sided tape across various regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the double sided tape market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the double sided tape market