Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

Jan 16, 2020 5:00 AM ET

Double Sided Tape Market is Growing at a CAGR of 7.11% During 2020-2025

iCrowd Newswire - Jan 16, 2020

The Double Sided Tape Market is forecast to reach $14 billion by 2025, growing at a CAGR of 7.11% during 2020-2025. The boom in the demand for acrylic foam based double sided tapes in the automotive industry is fueling the demand for double sided tapes in the market. Furthermore, the markets for medical assembly is boosting the consumption of double sided tapes.
Key Takeaways
  • Asia-Pacific dominates the double market owing to increasing demand from applications such as automotive and aviation electronics industries. 
  • Although water-based double sided tapes are used more in comparison to the other type of adhesives, hot-melt and radiation curable adhesives are estimated to grow at a higher CAGR during the forecast period due to increased physical and chemical properties possessed by these type of adhesives.
By End-Use Industry- Segment Analysis
The automotive sector has been a major market for double sided tapes for many years.The focus of the auto industry has shifted from the traditional manufacturing countries to the emerging markets, with sales increasing year by year. Emerging markets have fewer cars by population, which promises a huge potential. Economic growth has further increased the adoption rate of cars. With the auto development trends focusing on lightweight materials, miniaturization, intelligence and electrification, the market of automotive electronics is experiencing a rapid growth. Europe and the United States have improved energy-saving, emission reduction and safety performance of vehicles through mandatory regulations.
While double-sided tapes can be constructed with varying thickness and bonding properties, they are all manufactured with a pressure sensitive adhesive (PSA) on both sides. They also typically have a silicone layer or a similar non-stick layer applied on top of the adhesive to ensure the sides don’t stick together when wound on a roll.
Currently, residential construction is on a soar, when compared to other forms of construction. Residential construction derives its market from parameters like increasing population and emerging urbanization. In the APAC region, the impetus for growth is mainly seen in China and India which exceed the expectations and are on upsurge.For the past few decades solvent based adhesive tapes were employed in the construction sector and this trend was shifted towards waterborne adhesives due to the environmental regulations, lower VOC levels and cost.
Globally, construction sector is expected to stand out amongst the most dynamic industrial sectors in the following fifteen years and is completely essential to the advancement of prosperous societies around the world. Construction sector is expected to grow strong in economies such as India and Indonesia when comes to Asia-pacific region and in Europe UK is a stand out growth market for construction, where as in the Latin American region developing countries as such Brazil, Mexico and Argentina are expected to witness good construction growth.
China has the largest automotive industry in the world and one of the largest civilian aircraft markets. According to OICA, China held 35 percent share in global passenger cars sales in 2017. India also has excellent potential for automotive industry growth in the future. The country’s automotive industry experienced 8% growth in production in 2018,over the previous year. With more than 11 million vehicles traveling on the U.S. roads, which is 11.5 percent of the total vehicles in the world as reported by the OICA in 2017, there will be tremendous demand for silicone gels in the automotive application.
Geography- Segment Analysis
APAC dominated the double sided tape market with a share of more than 41%,followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing.Countries in South East Asia are witnessing high growth in the aviation and automotive industries. According to OICA, APAC automotive sales witnessed a growth of over 6.52% during 2012-2018, with South East Asian countries having huge potential to grow.
Drivers –Double Sided Tape Market
  • Growing demand for solar power generation
By the end of 2018, global cumulative installed PV capacity reached about 512 gigawatts (GW), of which about 180 GW were utility-scale plants. This represented a growth of 27% from 2017. Although capacity additions remained flat in 2018, solar PV generation increased 31% in 2018, and represented the largest absolute generation growth (+136 TWh) of all renewable technologies, slightly ahead of wind and hydro-power. This is fueling the demand for double sided tapes in the sector.
  • Growing demand for electric vehicles
The shift towards electric vehicles in the developed and developing nations would drive the silicone gels market over the forecast period. According to IEA, Norway, the Netherlands and Japan are front runners in the electronic vehicles segment. Norway held the share of 46 percent in terms of the global new electric car sales as reported by IEA in 2018. In order to meet zero emission targets under the “Paris Climate Accord”, in 2017, France government has announced that it will ban diesel and gasoline-powered vehicles completely and switch to electric powered vehicles by 2040.
Challenges – Double Sided Tape Market
  • Rising raw material prices
Various supply shortages of silicones are causing a rise in prices for the raw materials of silicone adhesive tapes. There is currently a global shortage of siloxane that is forcing a limited supply and a rise in silicone prices globally.China is among the world’s largest silicone producers with a share of nearly 40-45 percent of the global production capacity, and any transition in either Chinese domestic consumption or capacity is likely to impact the double sided tapes market.
Market Landscape
Technology launches,acquisitions and R&D activities are key strategies adopted by players in the Double Sided Tape market. In 2018, the top five players accounted for xx% of the share. Major players in the Double Sided Tape Market are 3M Company, Nitto Denko Corporation, Tesa SE, Lintec Corporation, Intertape Polymer Group, Inc., Avery Dennison Corporation, Shurtape Technologies, LLC, and Scapa Group Plc,among others. 

About IndustryARC:

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to to discuss more about our consulting services.

Contact Information:

Media Contact:
Mr. Venkat Reddy
Sales Director
Contact Sales: +1970-236-3677

Keywords:    Double Sided Tape Market, Double Sided Tape Market Size, Double Sided Tape Market Share, Double Sided Tape Market Analysis, Double Sided Tape Market Revenue, Double Sided Tape Market Trends, Double Sided Tape Market Growth, Double Sided Tape Market Research, Double Sided Tape Market Outlook, Double Sided Tape Market Forecast

Tags:    Extended Distribution, Research Newswire, English