Double Sided Adhesive Tape Market Forecast to 2028
The double-sided tape market was valued at US $ 9,963. 74 million in 2020 and is expected to reach US $ 15,028. 98 million by 2028; it is expected to grow at a CAGR of 5.4% from 2020 to 2028.
New York, May 20, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Double Sided Tape Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Resin Type, Backing Material and Use final “- https://www.reportlinker.com/p06073131/?utm_source=GNW
Double-sided tape is pressure sensitive tape coated with an adhesive layer on both sides. As these tapes can bond two surfaces together, they are used in a wide range of applications.
They are used for fastening and gluing in many manufacturing industries, such as automotive, healthcare and building and construction. Using double-sided tapes is a better option than screws and rivets because the surface tension is distributed evenly over the surface.
On the basis of resin type, the double-sided adhesive tape market is segmented into acrylic, rubber, silicone and others, silicone segment held the largest market share in 2020.
Silicone Adhesive Tape is a flexible, waterproof, non-woven material with unique silicone adhesive, it is fungus resistant and can fight ozone and ultraviolet rays in outdoor environments.
They are also solvent resistant and exhibit high shear and peel strength. In addition, these adhesives are comparatively expensive and have less initial tack, but can survive higher temperatures than acrylic and rubbery adhesives.
Factors such as increasing geriatric population, increasing prevalence of chronic diseases, and growing population are increasing the global medical industry which is driving the growth of the double-sided adhesive tape market for the silicone segment. Besides, several factors such as government support, rapid economic growth and availability of raw materials and cheap labor force are propelling the market for Silicone Adhesive Tapes segment all over the world.
The COVID-19 outbreak has taken a toll on the economies and industries of various countries due to lockdowns, travel bans and business closures.The chemicals and materials industry is one of the major industries suffering from serious disruptions such as supply chain disruptions, cancellations of technology events and office closures.
The closure of various factories and factories in key regions such as North America, Europe, Asia-Pacific, South America, and the Middle East & Africa has restricted the chain of ‘global supply and hampered manufacturing activities, delivery schedules and various chemicals and In addition, various companies have already announced possible delays in product deliveries and a decline in future sales of their products.
In addition, global travel bans imposed by countries in Europe, Asia and North America hamper business collaborations and partnership opportunities. All of these factors negatively affect the chemical and materials industry, which restrains the growth of various markets related to this industry.
3M; Nitto Denko Corporation; Tesa SE; Intertape Polymer Group; Shurtape Technologies, LLC; Scapa; Guangzhou Broadya Adhesive Products Co., Ltd .; Lohmann GmbH & Co.KG; LINTEC Corporation; and Avery Dennison Corporation are among the major players in the double-sided tape market.
The overall Double Sided Adhesive Tape market size has been calculated based on primary and secondary sources, To begin the research process, exhaustive secondary research was conducted using internal and external sources to obtain qualitative insights and quantitative in the market.
In addition, several primary interviews were conducted with participants and industry commentators to validate the data, as well as to gain more analytical information on the topic. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as valuation experts, research analysts and key opinion leaders specializing in the Double Sided Tape market.
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