Global Double-sided Tape Market Research and Forecast 2022-2028

Global Double-Sided Tape Market Size, Share & Trends Analysis Report by Resin Type (Acrylic, Rubber, Silicone, and Others), By Technology (Solvent-Based, Water-Based, and Hot-Melt), By Backing Material (Foam, Paper/Tissue, Film, Fastening Material, and Others), By End-Users (Automotive & Transportation, Construction, Paper & Print, Medical Devices, Electrical & Electronics, Packaging, and Others), Forecast 2022-2028

The global double-sided tape market is anticipated to grow at a CAGR of 8.4% during the forecast period (2022-2028). Double-sided tape market is referred to any pressure-sensitive tape that is coated with an adhesive layer on both of its sides. It is designed to adhere lightweight surfaces together and gives the surfaces a cleaner appearance due to it is not noticeable in the end product. Thick double-sided tapes and thin double-sided tapes are the two styles of double-sided tapes that are made. Double-sided tapes are more effective with sticking objects such as cardboard, paper, and arts and crafts.

The rising use of double-sided tapes in various industries such as automotive, building & construction, and electrical & electronics for splicing, among others is driving the growth of the market. Double-sided tapes are also majorly used in car exterior including parking sensor retainers, door cladding, and spoiler and seals. The product's superior properties, such as vibration and noise reduction, are expected to drive the demand for double-sided tape in the market during the forecast period. However, the rising raw material costs and strict regulatory policies would serve as major restraints on the growth of the double-sided tape industry. Apart from it, increased demand for acrylic foam-backed tapes in automotive applications would create additional opportunities for the double-sided tape market to expand during the forecast period.

Impact of COVID-19 Pandemic on Global Double-Sided Tape Market

The global double-sided tape market is hit by the outbreak of COVID-19 since December 2019. The automotive and transportation industry is the most exposed verticals to the COVID-19 pandemic. The factor such as changes in consumer behavior due to uncertainty surrounds the pandemic has a serious impact on the industry in the near future. Also, the growth of the global double-sided tape market is being driven by the rapid growth of the e-commerce sector, in which COVID-19 has disrupted small, medium-sized businesses, and due to which the e-commerce industry is growing at a rapid pace. The outbreak of COVID-19 has disrupted the supply chain of raw materials and products demand in the automotive sector and shut down manufacturing units across the globe. The market will witness “V” shape recovery in near future owing to the restart of key industries in major economies.

Segmental Outlook

The global double-sided tape market can be segmented based on resin type, technology, backing material, and end-users. Based on resin type, the market is segmented into acrylic, rubber, silicone, and others (paper). Based on technology, the market is segmented into solvent-based, water-based, and hot-melt. Besides, based on the backing material, the market is classified into foam, paper/tissue, film, fastening material, and others (metal foil and polyester). Based on end-users, the market can be segmented into automotive & transportation, construction, paper & print, medical devices, electrical & electronics, packaging, and others (oil & gas, defense, and appliances). Among the end-users, the automotive segment holds a significant share in the global double-sided tape market mainly due to its extensive use in automotive applications such as in plate panels, emblem & nameplates, roof molding, side mirrors, rocker panel/claddings, and rear spoilers.

Global Double-Sided Tape Market Share by Technology, 2020 (%)

Global Double-Sided Tape Market Share by Technology

Hot-Melt Segment holds the significant share in the Global Double-Sided Tape Market

Among the technology segment for the double-sided tape market, the hot-melt segment is anticipated to grow during the forecast period. High strength and immediate bonding are advantages of hot-melt technology, which makes them suitable for a range of applications including building and construction, automobile, paper and printing, and electrical and electronics. Excellent adhesion, quick set, ease of use, and quick processing are all advantages of using hot-melt technology. The rising use of hot-melt adhesive technology is also leading to the growth of the market.

Regional Outlooks

The global double-sided tape market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others0, and the Rest of the World (the Middle East and Africa, and Latin America). Europe is projected to witness notable growth in the global double-sided tape market during the forecast period. Due to the production of lightweight and more powerful vehicles in major countries such as Germany, it is expected to expand significantly. In addition, the increasing use of the commodity in the production of luxury cars is expected to fuel growth in the coming years.

Global Double-Sided Tape Market Growth, by Region 2022-2028

Global Double-Sided Tape Market Growth, by Region

Asia-Pacific is projected to have a considerable share in the Global Double-Sided Tape market

Asia-Pacific is anticipated to hold significant share in the global double-sided tape market during the forecast period. In the region, China and India are showing rapid progress due to rapid urbanization and industrialization. The supportive government regulations and availability of cheap raw materials are some other factors that are significantly fueling the market growth. Moreover, the Asia-Pacific is projected to be the most opportunistic region in the global double-sided tape market over the forecast period due to the entry of new market players, increasing automobile production in China and India, and increase in business spending in the region is expected to positively impact the revenue share of global double-sided tape market in the region.

Market Players Outlook

The key players of the global double-sided tape market include 3M Co., Tesa SE, Nitto Denko Corp., Berry Global Inc., FLEXcon Co., Inc., Saint-Gobain SA, Scapa Group Plc, Shurtape Technologies, LLC, and Lintec Corp., among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2019, Berry Global, Inc. has announced the acquisition of RPC Group Plc (RPC) for around $6.5 billion. Both together offering their products at more than 290 locations across the globe.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global double-sided tape market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.