The double sided tape market is estimated at USD 9.41 Billion
in 2018 and is projected to reach USD 13.15 Billion by 2023, at a CAGR of 6.93%
between 2018 and 2023. Double side tapes have backing materials such as foam,
film, paper/tissue, cloth, cotton, fiberglass, metal, and cellulose which are
coated on both sides with an adhesive. Double side tapes adhere to a variety of
substrates with light pressure (finger pressure) or with no phase change
(liquid to solid). The main resins used in double sided tapes include acrylic,
rubber silicone, and others (EVA and polyurethane), with acrylic resin holding
the major market share. The main technologies used by manufacturers of double
sided tapes are solvent, water, and hot-melt based globally, with the
solvent-based technology holding the major market share.
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Drivers &
Opportunities in global industry:
- Growing Use of Double Sided Tapes in Diverse
Applications
- High Demand for Double Sided Tape in APAC
- High Demand for Acrylic and Pe Foam Backed Double
Sided Tapes
- Advancement in Double Sided Tape Technology and
End Products
- Growing Demand for Acrylic Foam Backed Tapes in the Automotive Application.
Avery Denision (US), Intertape Polymer Group, Inc. (Canada),
3M (US), and Tesa (Germany) are the key players in the double sided tape
market. These companies accounted for a share 66.67% of all developmental
activities that took place in the double sided tape market between 2015 and
2018. Avery Denision (US) has adopted inorganic growth strategies to enhance
its geographic reach in the double sided tape market. For instance, in February
2017, the company completed the acquisition of Yongle Tape Company Ltd.
(China), a manufacturer of specialty tapes and related products for a variety
of industrial markets. This strategy was adopted to cater the growing demand
from the APAC region.
Intertape Polymer has adopted inorganic growth strategies to
enhance its geographic reach in the adhesives tapes market. For instance, in
2015, the company acquired Tara Tape (US) for USD 11.0 million. This
acquisition enabled Intertape Polymer to enhance its growth in the packaging
tapes segment.
3M is another key player that has established a strong
foothold in the double sided tape market. The company concentrates on expanding
its customer base through acquisitions. For instance, in October 2016, 3M invested
USD 135 million in its Tuas Plant (Singapore). The company aims to manufacture
acrylic foam tapes (scotch tape) for use in applications such as healthcare,
packaging, and electrical & electronics.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
When we thought of adhesive tapes, the 2 brands that came to our mind was - 3M and Tesa.
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