The global Hot Melt Adhesive Tapes market is expected to develop US$ 36.46 Bn by 2032, at a compound annual increase in price (CAGR) of 6.5% throughout the forecast period.
The global hot melt adhesive tapes industry has gained market attraction due to the growing industrialization in major economies of the world. A major factor driving the global hot melt adhesive market is increasing demand from high-speed manufacturing for various end -use industries. Its general applicability to various shapes, sizes, and composition of the base material. Primarily, lower thermal resistance than other substitutes, such as water-based and solvent-based tapes, may hinder the market growth.
The market is witnessing fast growth due to the evident growing use of hot melt adhesive tapes in various applications. The rising acceptance of hot melt adhesive technology is also contributing to business growth.
Increasing product advances in hygiene solutions to eliminate waste, provide comfort and enhance absorption have allowed the production of specific adhesives to manufacture disposable hygiene products to fuel the demand for hot melt adhesives. The demand for hot melt adhesives is increasing due to high value for disposable hygiene products and the government measures to promote them. However, volatility in raw material prices may impede the market growth.
Hot Melt Adhesive Tapes Market
|Revenue forecast in 2032
|US$ 36.46 Bn
|CAGR of 6.5 % during 2022-2032
|Backing material, Thickness, end use, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Avery Dennison Corporation, Intertape Polymer Group Inc., The 3M Company, Shurtape Technologies, LLC, Irplast S.p.A., Mario Tapes, Hira Industries L.L.C, Scapa Group plc, LINTEC Corporation
Key Segments of the Global Hot Melt Adhesive Tapes Market
Backing Material Overview
Resin Type Overview
- DIY& Consumer
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global hot melt adhesive tapes market.
- Ensure you remain competitive as innovations by existing key players to boost the market growth.
What does the report include?
- The study on the global hot melt adhesive tapes market includes qualitative factors such as drivers, restraints, and opportunities
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
- The study covers the competitive landscape of existing/prospective players in the automotive lighting industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on backing material, resin type, and application. Moreover, the study provides similar information for the key geographies
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global hot melt adhesive tapes market. The report will benefit: every stakeholder involved in the hot melt adhesive tapes market.
- Managers within the industry looking to publish recent and forecasted statistics about the global hot melt adhesive tapes market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
- Policymakers, Government organizations, regulatory bodies, and organizations looking for investments in global hot melt adhesive tapes market.
Frequently Asked Questions (FAQ) :
Hot-melt adhesive tapes are composed of resin made of either latex or silicone. Moreover, packaging manufacturers nowadays are using bioplastic material like PHA, PLA, etc. for manufacturing hot melt self-adhesive tapes. Bioplastic materials used for self-adhesive hot melt tapes provide better tensile strength and the ability to print on them, thus driving the market. Hot melt adhesive tapes promote the appearance of clean packages and enhance the display of graphics & logos printed on cartons. Therefore, the use of hot melt adhesive tapes in packaging is poised to drive the market growth. Furthermore, the market for hot melt adhesive tapes increases with increased emphasis on the show graphics over the carton boxes during the forecast period. Both of these factors help drive the demand for hot melt adhesive tapes. An exceptionally high percentage of all industrial items are marketed in packaging, either for handling and transport durability needs or for cosmetic purposes. Hot-melt adhesives in the paper, sheet, and packaging industry are mainstream adhesives. For carton closure, locking, and pallet stability, hot melt self-adhesive tapes are most widely used. Hot-melt adhesive uses range from corrugated box construction and lamination of printed sheets to packaging materials used by all sorts of consumer goods.
Backing Material Segment
Based on backing material, the market is bifurcated into polyester, polypropylene, and others. This strong hot-melt adhesive adheres to a number of surfaces, like corrugated cartons, tightly and rapidly, has a fast release and dispenses easily, allowing more cartons to be sealed in less time. Less pressure is needed when applying this substance than when the cheaper acrylic substitute is used. This property indeed helps polyester to drive the market growth for hot melt adhesive tapes.
Resin Type Segment
Based on resin type, the market is segmented into silicone, rubber, others. Rubber is expected to experience the fastest growth during the forecast period for hot melt adhesive tapes. Due to rubber’s ability to adhere well to several non-polar, low-energy surfaces, including polyethylene and PP, rubber has characteristics such as elevated tack and peel strength. These tapes have high peel power, flexibility of formulation, and strong electrical and thermal insulation properties. The cost of rubber based adhesive tapes is very low relative to silicone and acrylic based adhesive tapes.
Based on application, the market is bifurcated into healthcare, masking, DIY& consumer, packaging, & others. Packaging segment held the largest market share for hot melt adhesive tapes’ by application. The use of these tapes in various activities is fueling public knowledge of DIY(Do-It-Yourself), such as gardening, crafting, and small building & furniture projects. For various office and household uses, several of these tapes are used. User & DIY applications in the global hot melt adhesive tapes industry include temporary repair of any surface type, sealing of leaks and holes, temporary mounting of damaged vehicles and automobile parts, joining of split packaging modules, various tools & sealing.
Asia-Pacific dominated the global market demand for hot melt adhesive tapes. Other Asia-Pacific countries, such as South Korea, Singapore, India and Indonesia, have increased the production rate for hot melt adhesive tapes as application activities in these countries have increased. China has been the driving force for the rapid growth of the global hot melt adhesive tapes industry, not just in APAC, but also worldwide. Rising amounts of disposable tapes are the factors affecting packaging in many countries, which is a big application of the global hot melt adhesive tapes industry.
North America is expected to significantly contribute to the market growth, due to its innovations. U.S. according to Section 175.105 of Federal Rules, hot melt adhesives can follow the criteria for indirect interaction with food. For carton sealing in both fruit and vegetable cases, hot melt adhesive tapes are appropriate. It is not only found in organic packaging, but also in food boxes that are prepacked. In Europe, Germany is expected to drive the market growth due to the presence of large number of automobile manufacturers. Increasing advances in the design of vehicles have raised market demand for the introduction of smart cars. Replacing metallic parts with high-performance adhesives results in better fuel economy and lightweight vehicles that have greatly raised the demand for the hot melt industry. Government pressure to limit the usage of solvent adhesives in automobile production has changed the focus of producers to premium quality HMAs (Hot melt adhesives) due to stricter environmental regulations.
The major players of the global hot melt adhesive tapes market are 3M, Nitto Denko Corporation, Tesa SE, Avery Dennison Corporation, Intertape Polymer Group Inc., Scapa Group Plc, TE Connectivity Ltd., Lintec Corporation, Shurtape Technologies, LLC, ACHEM, Vibac Group, and Advance Tapes International. Manufacturers in the hot melt adhesive tapes market are focused towards, expansions across the globe. H.B.Fuller unveiled its latest Indian R&D facility in March 2017 and, in its first phase, completed its USD 20 million investment. By adding its new corporate office in India and its new state-of-the-art R&D centre, the company would boost its strong performance in the hot melt adhesive industry.