North America Adhesive Tapes Market
No. of Pages: 142 | Report Code: TIPRE00025716 | Category: Chemicals and Materials
No. of Pages: 142 | Report Code: TIPRE00025716 | Category: Chemicals and Materials
North America comprises potential economies such as the US, Canada, and Mexico. The adhesive tapes market across the region is witnessing remarkable growth owing to a significant product demand from various end-use industries, such as packaging, healthcare, and automotive. The US packaging sector accounted for US$ 177 billion in 2020, according to the Flexible Packaging Association (FPA). The rapidly growing packaging sector owing to the rising demand for packaged food & beverages, growing e-commerce industry, and rising retail sector across the region are a few major factors propelling the demand for adhesive tapes in North America. Moreover, the rapidly growing food service sector across the region is contributing toward the product demand. Food delivery providers use adhesive tapes to seal the boxes in which food is kept and delivered. People across the region are preferring to order food online owing to the COVID-19 outbreak pandemic. This factor is likely to spur the growth of the food delivery sector in the region, which would eventually favor the growth of the adhesive tapes market during the forecast period. The presence of prominent adhesive tapes manufacturers in the region, such as 3M and Avery Dennison Corporation, would contribute to the market growth during the forecast period. These manufacturers offer an extensive portfolio of products based on different applications. Moreover, they focus on product innovation and development to improve their functionality and cater to changing customer requirements, which is expected to enhance their profitability and provide potential growth opportunities in the future.
In North America, the US recorded the highest COVID-19 confirmed cases than Canada and Mexico. The COVID-19 pandemic is negatively impacting the chemical & materials industry in the region as the crisis is restricting the supply and distribution chain. The unavailability of raw materials due to lockdown in many raw material supplying countries has halted the production. There is a mixed impact of the pandemic on the adhesives tape market. Various industries, such as automobiles, construction, electronics and electrical, experienced sharp declines amid the pandemic. However, the healthcare industry has grown since the outbreak due to excessive demand for PPE kits and medical equipment. With the state of economic recovery, several industrial sectors and economies are strategically planning to invest in the healthcare sector. This is expected to provide an impetus to the market growth in the coming years.
Strategic insights for the North America Adhesive Tapes provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 15,649.30 Million |
| Market Size by 2028 | US$ 22,179.95 Million |
| Global CAGR (2021 - 2028) | 5.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Resin Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Adhesive Tapes refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America adhesive tapes market is expected to grow from US$ 15,649.30 million in 2021 to US$ 22,179.95 million by 2028; it is estimated to grow at a CAGR of 5.1% from 2021 to 2028. Using adhesive tape instead of mechanical fasteners can change many product design areas and manufacturing efficiency. Screws, bolts, clips, rivets, and other mechanical fastening systems are quickly replaced by adhesive tapes due to their design and assembly advantages. Mechanical fasteners are considered the strongest and reliable joining methods. However, connecting different surfaces is a challenge because the material may tear due to tensile stress under high pressure. Therefore, it lacks reliability and long-term responsibility. These tapes eliminate the challenges related to traditional fastening systems and extend the life of a product. In addition, it eliminates rust and corrosion, lowers noise and vibration, reduces manufacturing and assembly time, and improves product design. These benefits significantly help improve efficiency and performance in various applications packaging, healthcare, automotive, electrical and electronics, building and construction, and others while reducing production and material costs. Further, many companies are manufacturing adhesive tapes for replacing mechanical fasteners. For instance, 3M has a range of VHB and Vhpb high-performance adhesive tapes, which consist of a durable acrylic adhesive with viscoelasticity. The company provides an exceptionally strong double-sided foam tape that can be adhered to a variety of substrates, such as stainless steel, aluminum, galvanized steel, composites, plastics, acrylic, polycarbonate, ABS, and painted or sealed wood and concrete. The tapes are widely used in applications across various markets, such as transportation, electrical appliances, electronics, construction, and signs and displays, as well as in general industries. 3M VHB Tape GPH060GF is a permanent adhesive solution that can replace traditional mechanical fasteners and liquid adhesives in demanding high-temperature applications. Its acrylic foam core provides a good balance between strength and adaptability. The tape has excellent temperature resistance and is very suitable for powder coating or liquid coating processes that undergo thermal baking cycles. Thus, the replacement of mechanical fasteners with adhesive tape would create lucrative opportunities for the North America adhesive tapes market players during the forecast period.
In terms of resin type, the rubber segment accounted for the largest share of the North America adhesive tapes market in 2020. In terms of technology, the solvent-based adhesive tapes segment held a larger market share of the North America adhesive tapes market in 2020. In terms of tape backing material, the polypropylene (PP) segment held a larger market share of the North America adhesive tapes market in 2020. Further, the automotive segment held a larger share of the North America adhesive tapes market based on application in 2020.
A few major primary and secondary sources referred to for preparing this report on the North America adhesive tapes market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 3M, Avery Dennison Corporation, Berry Global Inc., Intertape Polymer Group, LINTEC Corporation, Lohmann GmbH & Co.KG, Nitto Denko Corporation, Rogers Corporation, Scapa, and tesa SE.
The North America Adhesive Tapes Market is valued at US$ 15,649.30 Million in 2021, it is projected to reach US$ 22,179.95 Million by 2028.
As per our report North America Adhesive Tapes Market, the market size is valued at US$ 15,649.30 Million in 2021, projecting it to reach US$ 22,179.95 Million by 2028. This translates to a CAGR of approximately 5.1% during the forecast period.
The North America Adhesive Tapes Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Adhesive Tapes Market report:
The North America Adhesive Tapes Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Adhesive Tapes Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Adhesive Tapes Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
UK+442030260021, US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America Adhesive Tapes Market
