An industrial adhesive is a continuous flexible strip made of paper or the plastic film coated with a thin layer of permanent viscous adhesive on one or both sides. These tapes are offered in the form of sheets & rolls of different dimensions and are commonly known as pressure-sensitive tapes, self-sticking tapes, tapes, and sticky tapes. These tapes are progressively more actuality used for binding & packing of products related to food & beverage, e-commerce, and healthcare industry. An industrial adhesive is also in the automobile production manner to bind interior parts by reducing the requirement for rivets or welding. The key properties are included flexibility, lower costs, less vibration, solvent-free, high fatigue & thermal shock tolerance along with high productivity and reduced waste.
According to the study, “Global Industrial Adhesives and Tapes Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global industrial adhesives and tapes market are 3M, Hitachi Chemical Company Ltd., BASF, Toyo Polymer Co. Ltd., Bayer Material Science (Covestro), Avery Denison Group, Sika Ag, Royal Adhesives & Sealants, Ashland Inc., Bostik SA, Huntsman Corporation, Henkel Ag & Company, KGAA, Solvay Group, Bemis, Mitsubishi Chemicals Corporation, H. B. Fuller Company, Henkel AG & Co. KGaA, Adhesive Films Inc.
Based on type, industrial adhesives and tapes market is segmented into hot melt based adhesive tapes, anaerobic adhesive, contact spray, epoxy adhesives, acrylic, and others. Hot melt based adhesive tape is used to bond fabric to wood, plastic, or metal. Based on tape type, the market is segmented into aluminum tapes, filaments tapes, and others. Based on product type, the market is segmented into Acrylic, Polyvinyl Acetate (PVA), Vinyl Acetate Ethylene (VAE), Polyurethane Ethylene Vinyl Acetate (EVA), Epoxy and others. In addition, based on application, the market is segmented into automotive, electronics, construction, oil & gas, health care, packaging (carton sealing, labeling, and corrugated box manufacturing), mining and others.
The industrial adhesives and tapes market is driven by a rise in preference for high-performance adhesives, followed by growth in technological furtherance in end-user industries, rise in demand for environment-friendly water-based adhesive products, an increase in demand for commodities and appliances and growth in the packaging, construction, and woodworking & transportation market. However, high disbursement on research & development (R&D) and the volatile price of raw material may impact the market. Moreover, the rise in demand for lightweight & low carbon-emitting vehicles and growth in advancements in adhesive tapes technology are key opportunities for the market.
Based on geography, the Asian-Pacific region holds the major share in industrial adhesives and tapes market owing to growth in automotive and electronics industries, an increase in population and a rise in the disposable income of consumers in the region. Whereas, the North-American and European regions are projected to exhibit substantial growth rate due to the rise in advancements in adhesive technologies and growth in focus on minimizing carbon emissions & enhancing fuel economy by reducing vehicle weight over the forecast period. In upcoming years, it is expected that the future of the market will be bright as a result of growth in construction industries and rapid infrastructure development during the forecast period.
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