The market for hot melt adhesive tapes is anticipated to grow at a CAGR of 6.5% over the course of the forecast period, from US$ 18.88 billion in 2022 to US$ 36.46 billion in 2032. Due to rising demand for hot melt adhesive tapes from packaging and non-woven products applications, hot melt adhesive tape sales are anticipated to increase.
Emerging economies of Asia Pacific account for a significant share in the hot melt adhesive tapes market during the forecast period. China and India account for more than half of the total Asia Pacific hot melt adhesive tapes market. The growth is also attributed to the emerging transport & logistics industry in the region.
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According to the World Bank Logistic Performance Index, China holds 27th rank. Furthermore, China represents new trade gateways between South America & Africa that would enhance the global logistics supply chain which will benefit the hot melt adhesive tapes market in the near future. Latin America to have positive potential in the hot melt adhesive tapes market during the forecast period.
Increased Penetration of Hot Melt Adhesive Tapes in the Logistics Industry to Proliferate the Market Growth
?Hot melt adhesive tapes are made by either rubber or silicone resin. Moreover, packaging manufacturers nowadays are using?bioplastic?materials like PHA, PLA, etc. for manufacturing hot melt?self-adhesive?tapes. Also, bioplastic materials used for hot melt self-adhesive tapes provide better tensile strength and also the ability for printing on it, therefore driving the market.
Hot melt adhesive tapes supports clean package appearance and improves display of graphics & logos printed on cartons & boxes therefore driving the market. Moreover, increased focus towards the display graphics over the carton?boxes?are escalating the hot melt adhesive tapes during the forecast period. All these factors contribute in driving the hot melt adhesive tapes market.
Hot Melt Adhesive Tapes Market – Competitive Landscape:
Some of the global key players in the hot melt adhesive tapes market are as follows:
Avery Dennison Corporation
Intertape Polymer Group Inc.
The 3M Company
Shurtape Technologies, LLC
Irplast S.p.A.
Mario Tapes
Hira Industries L.L.C
Scapa Group plc
LINTEC Corporation
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Hot Melt Adhesive Tapes Market – Key Developments:
Tier 1 and 2 companies in the hot melt adhesive tapes market are focusing towards product portfolio expansion and expanding their footprint in global market. While Tier 3 companies in the hot melt adhesive tapes market are focusing towards serving high quality product and this section constitutes of unorganized players in the market.? Some of the recent developments in the hot melt adhesive tapes market are as follows:
- Avery Dennison, a manufacturer of hot melt adhesive tapes is expanding its business through acquisition strategy in the hot melt adhesive tapes market. The company acquired Yongle Tape Company Ltd. for $190 million in 2016.
- In May 2017, tesa SE launched a new product range of tapes segment that are made from ultra thin washi paper.
- In May 2019, 3M company acquired Acelity Inc., a healthcare solution company to expand its footprint across the globe.
In June 2018, Essentra Plc. Is expanding its business by extending its footprint in different parts of globe. For instance, the company divested its consumer packaging site in Bristol, U.K.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain of the global hot melt adhesive tapes market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with hot melt adhesive tapes market attractiveness as per segments. The report also maps the qualitative impact of various factors on hot melt adhesive tapes market segments and geographies.
The global hot melt adhesive tapes market is divided into seven major regions, which are as follows –
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa (MEA)
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Hot Melt Adhesive Tapes Market – Segmentation:
The global hot melt adhesive tapes market is segmented by backing material, thickness, and end use.
On the basis of backing material,
- Polypropylene (PP)
- Polyamide (PA)
- Poly-Urethanes (PU)
- Polyethylene Terephthalate (PET)
- Others
On the basis of thickness,
- Below 25 micron
- 26-35 micron
- 36-50 micron
- Above 50 micron
On the basis of end-use,
- Automotive
- Construction
- Consumer Goods
- Transportation & Logistics
- Electrical & Electronics
- Furniture and Woodworking
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