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Wahid Tamboli | 14.10.2021

Double Sided Tape Market likely to reach beyond 13.15 Billion USD by 2023 at a CAGR of 6.93%

Double Sided Tape Market expected to reach 13.15 Billion USD by 2023, at a CAGR of 6.93%, over 2018–2023

[183 Pages Report] Double Sided Tape Market was valued at USD 8.82 Billion in 2017 and is projected to reach USD 13.15 Billion by 2023, at a CAGR of 6.93% during the forecast period. In this study, 2017 has been considered as the base year, and the forecast period is 2018 to 2023. The report aims at estimating the size and growth potential of the double sided tape market across different segments, such as resin type, technology, backing material, application, and region. Factors such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the double sided tape market have also been studied in this report. The report analyzes opportunities in the double sided tape market for stakeholders and presents a competitive landscape of the market.


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Based on resin type, the silicone segment is expected to grow at the highest CAGR during the forecast period.


The silicone segment is projected to grow at a higher rate than the other resin types because of its better adhesion properties. Silicone-based double sided tapes maintain adhesion over a larger temperature range and possess the ability to adhere to difficult surfaces. These factors are expected to drive the market for silicone resin-based double sided tapes during the forecast period.


Based on technology, the hot-melt segment of the double sided tape market is expected to grow at the highest CAGR during the forecast period.


The hot-melt technology segment is projected to witness the highest growth during the forecast period. Hot-melt double sided tapes is the fastest-growing class of double sided tapes in healthcare, aerospace, and wind and solar energy applications. These double sided tapes have an extreme rate of bond formation, which can translate into high production rates. In the US, the hot-melt technology is widely used in tape production by key players, such as 3M Company (US) and Intertape Polymer Group, Inc. (Canada).


Based on backing substrate, the paper/tissue segment of the double sided tape market is expected to grow at the highest CAGR during the forecast period.


The paper segment is projected to grow at the highest CAGR from 2018 to 2023 as it is cheaper and recyclable. Smooth or crepe paper with different elongation degrees and tensile strengths are used as a backing material for double sided tapes. The demand for double sided tapes in the paper & printing, electrical & electronics, healthcare, and packaging industries is expected to drive the demand for paper/tissue backing material.


https://www.prnewswire.com/news-releases/double-sided-tape-market-worth-1315-billion-usd-by-2023-684670781.html


 The double sided tape market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period.


The double sided tape market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period, due to the rising demand for double sided tapes from emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. China is leading the market for double sided tapes in the Asia Pacific region. The growth of various end-use industries, such as automotive, electrical & electronics, and paper & printing, is projected to drive the demand for double sided tapes in China.


3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), Avery Dennison Corporation (US), Shurtape Technologies, LLC (US), and Scapa Group Plc (UK) are some of the key players operating in the double sided tape market.


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Read our blog for more details: https://chemabd007.blogspot.com/2019/04/global-double-sided-tape-market.html


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