Double-sided Tape Market

The double-sided tape market is projected to grow from USD 11.6 billion in 2022 to USD 17.2 billion by 2028, at a CAGR of 6.7% between 2023 and 2028. Growing demand from packaging industry is a major factor behind the growth of the market.

Attractive Opportunities in the Double-Sided Tape Market

Source: Expert Interviews, Secondary Sources, and MarketsandMarkets Analysis

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Source: Expert Interviews, Secondary Sources, and MarketsandMarkets Analysis

Double-Sided Tape Market Dynamics

Drivers: Growing demand from packaging industry

The growing presence in less developed countries is one of the key factors driving the packaging sector. There has been an increase in demand for packaged goods as a result of more people moving to metropolitan areas and adopting westernised culturesand lifestyles. The expanding e-commerce market has helped to further accelerate this trend on a worldwide level.

The modern consumer's preference for consuming goods like food, beverages, and pharmaceuticals while on the go has raised the demand for packaging solutions that are practical and safe. In this context, a key beneficiary is the flexible plastics industry, which offers solutions in line with changing consumer lifestyles.

Restraints: Increase in raw material price

Increased raw material costs have a big impact on the double-sided tape market. The primary obstacle is the steadily rising cost of raw materials. This increase is caused by supply chain disruption, geopolitical unrest, and changes in energy prices, all of which have a noticeable effect on the manufacturing costs experienced by double-sided tape producers. Therefore, the regulations present a formidable short-term restraint for the growth of the anti-corrosion coating market.

Opportunities: Potential substitutes to traditional fastening systems

While traditional techniques like screws and bolts are efficient, they come with complexity, weight, and aesthetic problems. It reduces vibrations, addressing numerous business difficulties. In high-temperature industries, double-sided tape is a flexible and long-lasting adhesive. It successfully binds tiny parts, fostering innovation in electronics and healthcare. Sustainability is vital, and eco-friendly formulations follow current trends in the green movement. Customization prospers, effectively providing individualized choices. The integration of sustainability, industry partnerships, market diversification, and R&D investment are all strategic imperatives.

Challenges: Impact of supply chain disruptions

In the adhesive market, the recent increase in the price of double-sided tape has become a strategic concern, prompting a closer investigation of the underlying causes of this price increase. Variations in the cost of these raw materials have an immediate impact on production costs, which affect pricing dynamics. Global supply chains have been subject to significant interruptions as a result of the COVID-19 pandemic, geopolitical unrest, natural calamities, and logistical challenges. These disruptions have resulted in delays, shortages, and increased transportation costs.

Double-sided Tape Market Ecosystem

The diagram below indicates MnM coverage of the adhesive tape ecosystem. KnowledgeStore provides strategic insights on each of the nodes in this ecosystem through a cloud-based , highly interactive market intelligence platform.

Acrylic by resin type accounted for the largest segment of double-sided tape market

Acrylic resin is the largest resin type segment in the overall double-sided tape market during forecasted period. These tapesstand out in a competitive market due toshort curing time, great resistance to oxidation, a wide temperature range, and the capacity to withstand UV rays. They also have exceptional anti-aging qualities and retain color consistency over time. Notably, they achieve an ideal level of water resistance and a high level of peel, tack, and shear strength by carefully balancing adhesion and cohesion.

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Asia Pacific is the largest growing double-sided tape market.

The Asia Pacific is the largest double-sided tape market, in terms of both, value and volume, and is projected to be the fastest-growing market during the forecast period. Rising household income and fast growing middle class population are the major drivers of double-sided tapes in Asia Pacific region. Asia Pacific is the most promising market and will remain such in the foreseeable future.

Key Market Players

3M (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Avery Dennison Corporation (US) are the key players in the global double-sided tape market.

The 3M Company offers a broad range of products including adhesives, bonding materials, coatings, and specialty materials. The company operates through four business segments: Safety & Industrial, Transportation & Electronics, Healthcare, and Consumer. Through the electronics & energy segment, 3M supplies PSA tapes, electrical insulation, and fiber optic and copper-based telecommunications systems for the rapid deployment of rapidly deployed fixed and wireless networks. The company has production sites in 65 countries around the world. and offers products and solutions to customers in about 200 countries in the Americas, APAC, Europe, and the Middle East & Africa.

Read More: Double-Sided Tape Companies

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Scope of the Report

This research report categorizes the double-sided tape market based on Resin Type, Technology, Backing Material, End-use Industry, and Region.

By Resin Type:

• Acrylic
• Rubber
• Silicone
• Others

By Technology:

• Solvent-based
• Waterbased
• Hot-melt-based

By Tape-Backing Material:

• Foam-backed
• Film-backed
• Paper-/Tissue-backed
• Unsupported-/Transfer-backed
• Others

By End-use Industry:

• Automotive
• Building & Construction
• Electrical & Electronics
• Paper & Printing
• thers

By Region:

• Asia Pacific
• Europe
• North America
• South America
• Middle East & Africa

Recent Development

• In October 2019, 3M acquired Acelity Inc. (US) in October 2019. Acelity is a recognized leading provider of advanced wound care technologies and solutions and received USD 1.5 billion revenue in 2018. This acquisition is an excellent complement to 3M's Healthcare business and bolsters the company's medical solutions business and supports its growth by offering comprehensive, advanced, and surgical wound care solutions.

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