A recent report by Reports and Data predicts that the global double sided tape market will reach USD 16.14 billion by 2026. This growth is attributed to the increasing demand for double sided tapes in various industries such as construction and packaging, as well as the growing demand for high-strength double-sided tape.
Double-sided foam tapes are used for a variety of purposes including permanent or temporary fastening, acoustic dampening, packaging, thermal insulation, and gap filling. They come in different thicknesses, and their performance properties include vibration dampening, shock absorption, and thermal sealing between substrates at different temperatures. They can also be used as seals to prevent the passage of moisture, gases, air, and humidity.
The report identifies hot-melt adhesive as the largest technology segment, accounting for ~43% of the market share in 2018. This segment is expected to grow at a CAGR of 7.0% during the forecast period. The report also highlights acrylic adhesive tapes as the largest market share segment (~32%) in 2018, while silicone adhesive tapes are expected to grow with a CAGR of 6.7% during the forecast period.
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The Asia Pacific region held the largest market share of ~27% in 2018 and is anticipated to witness the highest CAGR of 7.1% during the forecast period. The report lists key players in the market including 3M Company, Lintec Corporation, Shurtape Technologies, and Avery Dennison Corporation, among others.
Reports and Data have segmented the global double sided tape market based on adhesive type, product type, technology, industry verticals, and region.
Double Sided Tape Market: Drive Factors
The double-sided tape market is being driven by several factors, including the increasing demand from various industries such as construction and packaging. The growing need for high-strength double-sided tape is also contributing to the market's growth.
Double-sided foam tapes are being used for a variety of purposes such as permanent or temporary fastening, acoustic dampening, packaging, thermal insulation, and gap filling. They come in different materials such as open-cell or closed-cell and various thicknesses. These tapes offer several benefits, including vibration dampening, shock absorption, and thermal sealing between substrates at different temperatures. They can also serve as seals to prevent the passage of moisture, gases, air, and humidity.
According to the report, hot-melt adhesive tapes account for the largest market share, while acrylic adhesive tapes are the most commonly used. The Asia Pacific region holds the largest market share and is anticipated to witness the highest CAGR during the forecast period. Companies have adopted various strategies such as mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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