The tapes market size is projected to be valued at USD 78.5 billion in 2023 and is expected to rise to USD 126.6 billion by 2033. The sales of tapes are expected to record an average CAGR of 4.9% during the forecast period.
The global market growth is attributable to the increasing need for protective packaging to maintain damage-free transits. Pressure-sensitive tapes are top-selling products and their sales are expected to increase at a CAGR of 5.4% from 2023 to 2033, which was at 3.5% from 2018 to 2022.
In terms of end use, the expansion of the global tapes industry is driven by growth registered in the building and construction industry due to the exponential consumption of masking tapes.
The China market is expected to remain at the leading position with nearly 1/5th value share in the global market. The market is likely to create an incremental revenue opportunity of USD 10.7 billion from 2023 to 2033. Growth is on the card due to the increasing need for protective and secured packaging during the import and export of various products.
| Attribute | Details |
|---|---|
| Market Estimated Size (2023) | USD 78.5 billion |
| Market CAGR (2023 to 2033) | 4.9% |
| Market Forecasted Size (2033) | USD 126.6 billion |
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Tapes are distinct adhesive tapes utilized in various end-use industries like automotive, building & construction, aerospace, and general industries among others. The efficacy of these tapes is significantly high because it is a specialty-formulated adhesive that bonds instantly to various surfaces.
The global market registered a CAGR of 3.4% during the historic period of 2018 to 2022. The period marked the entry of various market players and product innovations, which aided the overall growth of the market.
The market has minimal barriers while comprehending the market from a macroeconomic lens. However, moving towards liquid adhesive solutions could take away market share from masking tapes. The market is expected to observe a shift to sustainable backing material and improved usage in the industrial sectors.
With advanced machine learning in a run-through and the introduction of robotics, the industrial sectors are expected to observe multifold growth. This in turn is anticipated to considerably drive the global market for tapes.
The building & construction sector is showcasing impressive growth in Asia Pacific. The sector includes industrial construction, real estate, and repair & maintenance along with other industries. Expansion of the building and construction sector, especially as developing countries invest increasingly towards infrastructural development is likely to augur well for the tapes market.
In response to surging building and construction activities worldwide, the demand for masking tapes is on the rise. This is expected to drive the sales of tapes around the world over the coming years.
Principal Consultant
Pressure-sensitive adhesive is a non-reactive adhesive that binds to a surface when pressure is applied. The special feature of pressure-sensitive tapes is that they do not solidify but remain viscous. As a result, they are perpetually sticky and have the quality to stick to wet surfaces when they come into touch with them.
Pressure-sensitive tapes are significantly contributing to the growth of the market. Due to their widespread acceptability, increasing application in tapes and labels, and strong demand in the Asia Pacific.
Pressure-sensitive tapes hold a share of almost 62.03% of the total global tapes market. The double-sided adhesive maker uses pressure-sensitive tape. The segment is also expected to register incremental growth by 1.76x during the forecast period. These tapes create good adhesive bonds between dissimilar materials, registering high demand in various end-use industries.
Among end-use segments, the building and construction industry is expected to account for the largest share in 2022 and is poised to maintain its dominance through the forecast period. This industry is expected to create twofold opportunities for double-sided tape manufacturers. Following this, demand in the automotive sector is expected to accelerate at a CAGR of 6.1% through 2033.
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China is one of the leading markets for tape production, witnessing a market growth of 5.9% during the analysis period. With advancements in technology, economies of scale, and cheap labor, Asia holds almost 50% of the total global tapes market.
Various technology breakthroughs are causing an increase in patents registered per country in the region. Also, a collaboration between companies and the Global Tape Forum is helping shape the adhesive industry. These factors are expected to have a positive impact on the global market.
Tapes Demand in Germany’s Automotive Sector to be Considerably High
According to the Organization for Economic Cooperation and Development (OECD), Germany is a center of innovation and a leader in sustainable development. The country represented a total of USD 28.4 Billion, indicating 0.73% of Gross National Income (GNI) in 2020. With the increasing manufacturing activities in Germany, the tapes market is expected to increase nearly 1.6 times within Europe from 2022 to 2032.
Four of the leading sectors that dominate the country are the automotive, mechanical engineering, electrical and chemical industries. World-renowned players from Germany include Volkswagen, Daimler, BMW (for automotive), Siemens (electrical), and BASF (for chemical). According to the country statistics, the automotive industry export ratio is around 48.4% which indicates that German manufacturers produce almost twice as many cars abroad.
As automotive parts need highly protective packaging, the sales of tapes in the German market are expected to bolster in the coming years.
With its strong presence and robust industry, North America contributes significantly to the growth and development of the market.
North America contributed 20.7% of the value share in 2022. The region is characterized by a high demand for various types of tapes across industries such as packaging, construction, automotive, and electronics. Factors such as technological advancements, infrastructure development, and the presence of key tape manufacturers contribute to North America's prominence in the tapes market. The region is expected to witness continued growth and innovation in the tapes industry, driven by increasing applications and the need for reliable and efficient adhesive solutions.
India is one of the influential markets for tapes, witnessing a growth rate of 6.7% in the forecast period. The market in India is driven by sectors such as packaging, construction, automotive, and electronics, among others. Moreover, expanding industrial sectors, and increasing infrastructure development led the market surge.
With a large consumer base and a thriving manufacturing industry, India offers a favorable market for tapes. The country is witnessing technological advancements, investments in research and development, and the entry of prominent tape manufacturers, leading to the availability of a wide range of tapes in the market. As India continues to experience growth in various industries, the demand for tapes is expected to rise, creating opportunities for further expansion and innovation in the market.
The competitive landscape of the market is characterized by the presence of several key players competing for market share. These players include both international and domestic manufacturers, each striving to gain a competitive edge in the market.
Leading tape manufacturers focus on product innovation, quality, and customization to meet the diverse needs of customers. They invest in research and development activities to develop tapes with enhanced performance characteristics. Such as superior adhesion, durability, and resistance to various environmental factors. Furthermore, competitive pricing strategies, efficient distribution networks, and effective marketing campaigns play a crucial role in gaining a competitive advantage in the tapes market. Manufacturers aim to offer competitive pricing to attract customers while maintaining profitability. They also focus on building strong relationships with distributors and retailers to ensure wide product availability and reach.
Recent Developments
Clearlake Capital Group, L.P. finalized its acquisition of Intertape Polymer Group Inc. in June 2022.
Tesa S.E., a Beiersdorf Company broke ground on a new plant in the Vietnamese port city of Haiphong in January 2022. The Beiersdorf Group plans to invest EUR 55 million (USD 65.07 million). The factory may produce 40 million square meters of adhesive tape each year. It is scheduled to be finished in 2023.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.9% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | Tape Type, Material Type, End Use, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | 3M Company; Nitto Denko Corporation; Avery Dennison Corporation; Berry Global Group Inc.; Saint Gobain Corporate; Sonoco Products Company; Intertape Polymer Group Inc; Shurtape Technologies, Llc; PPM Industries SpA; Pro Tapes & Specialities Inc; Kruse Adhesive Tape, Inc; ADH Tape; tesa SE Group; Atlas Tapes SpA; Sicad SpA |
| Customization & Pricing | Available upon Request |
The Asia Pacific region generated 35% of the global demand for tapes in 2022.
The Asia Pacific market is expected to grow at a CAGR of 7% through 2033.
PET is the preferred material for making tapes, contributing 65% of total production.
Pressure-sensitive tapes are in higher demand, holding 60% of the global market share.
From 2018 to 2022, the global tapes market exhibited a CAGR of 3.4%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tape Type 5.1. Pressure-Sensitive Tapes 5.2. Masking Tapes 5.3. Duct Tapes 5.4. Filament Tapes 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 6.1. Paper 6.2. Plastic 6.3. Metal Foil 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Automotive 7.2. Electric & Electronics 7.3. Building & Construction 7.4. Pharmaceutical & Medical Devices 7.5. Food & Beverages 7.6. Defense/Aerospace 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1.1. 3M Company 16.1.2. Nitto Denko Corporation 16.1.3. Avery Dennison Corporation 16.1.4. Berry Global Group Inc. 16.1.5. Saint Gobain Corporate 16.1.6. Sonoco Products Company 16.1.7. Intertape Polymer Group Inc 16.1.8. Shurtape Technologies, LLC 16.1.9. PPM Industries SpA 16.1.10. Pro & Specialties Inc 16.1.11. Kruse Adhesive Tape, Inc 16.1.12. ADH Tape 16.1.13. tesa SE Group 16.1.14. Atlas SpA 16.1.15. Sicad SpA 17. Assumptions & Acronyms Used 18. Research Methodology
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Tapes Market
