The solvent-based adhesive tape market is projected to grow at a CAGR of 5.47% from US$18.413 billion in 2021 to US$26.724 billion in 2028.
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PRADESH, INDIA, August 8, 2023/EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the Solvent-Based Adhesive Tape Market is projected to grow at a CAGR of 5.47% between 2023 and 2028 to reach US$26.724 billion by 2028.
The prime factors propelling the market growth of solvent based adhesive tape include the rising demand in various end-user industries, technological developments, preference for online shopping, and growing popularity of silicone-based adhesive tape.
Solvent-based adhesives are a type of adhesive that contains volatile organic compounds (VOCs) as the primary carrier or solvent. These adhesives are widely used in various industries and applications due to their strong bonding capabilities and versatility. The solvent in these adhesives allows for easy application and helps the adhesive penetrate and bond well with different materials.
Various collaborations and technological advancements are driving the solvent-based adhesive tape market. For instance, at the Interpack 2023 trade show in Dusseldorf in May 2023, Brilliant Polymers announced the introduction of a new line of goods. The product line includes GLYMO-free high-performance solvent-based adhesive which is ideally suited for retort applications.
In March 2021, ATP Adhesive System Group announced its acquisition of BDK Industrial Systems Ltd. for an undisclosed amount. The merger is expected to strengthen the market positions of both companies and enable them to offer their customers a wider range of customized products, including personalized and medical solvent-based adhesive tapes.
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https://www.knowledge-sourcing.com/report/solvent-based-adhesive-tape-market
The market for solvent based adhesive tape is divided into acrylic, rubber, silicone, and others depending on the resin type. The popularity of silicone-based adhesive tape which is based on resin is rising across a range of end-use sectors, and it is predicted to expand faster. It sticks to challenging surfaces and keeps sticking across a wide temperature range which drives its market demand.
The market is divided into polypropylene (PP), paper, polyvinyl chloride (PVC), and others based on the material type. Polypropylene is a thermoplastic polymer widely used in many applications due to its excellent properties including high chemical resistance, low density, high heat resistance, good tensile strength, and impact resistance.
The market is segmented into packaging, consumer and office, healthcare, automotive, electrical and electronics, building and construction, and others based on the end-user. In the upcoming years, the healthcare segment is anticipated to grow significantly due to the extensive usage of adhesive tapes for treating wounds, securing cover shields during operations, monitoring electrodes and other medical devices, and monitoring electrodes among others. The increasing healthcare expenditure is driving the segment growth and thereby bolstering the market expansion. For instance, total national health expenditure in the US increased by 305 between 2009 and 2019 as per the CDC.
According to geographical segmentation, Asia Pacific is estimated to hold a sizable share of the solvent-based adhesive tape market during the forecast period due to the increasing demand from the healthcare segment, booming industrialization, and expanding automotive and manufacturing sectors. For instance, in FY 2022-23, passenger vehicle sales reached a record high of 2,504,084 units as of November 2022. The automotive industry is projected to achieve a growth rate of 16% in FY23 according to the Investment Promotion Agency of India.
The research study includes coverage of 3M, Nitto Denko Corporation, Tesa SE, Avery Dennison Corporation, Intertape Polymer Group, LINTEC Corporation, Berry Global Inc., Scapa, Lohmann GmbH &Co. KG, and Rogers Corporation among other significant market players in the solvent-based adhesive tape market.
The market report segments the solvent-based adhesive tape market on the following basis:
• By Resin Type
o Acrylic
o Rubber
o Silicone
o Others
• By Material Type
o Polypropylene (PP)
o Paper
o Polyvinyl Chloride (PVC)
o Others
• By End-Users
o Packaging, Consumer, and Office
o Healthcare
o Automotive
o Electrical And Electronics
o Building And Construction
o Others
• By Geography
o North America
• United States
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• United Kingdom
• Germany
• France
• Italy
• Others
o Middle East and Africa
• Saudi Arabia
• Israel
• Others
o Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Thailand
• Taiwan
• Others
Explore More Reports:
• Retail and Office Adhesive Tape Market: https://www.knowledge-sourcing.com/report/retail-and-office-adhesive-tape-market
• Hot Melt Adhesive Tape Market: https://www.knowledge-sourcing.com/report/hot-melt-adhesive-tape-market
• Specialty Adhesive Tape Market: https://www.knowledge-sourcing.com/report/specialty-adhesive-tape-market
Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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