The double sided tape market was valued at US$ 9,963. 74 million in 2020 and is projected 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 release of the report "Double Sided Tape Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Resin Type, Backing Material, and End-Use" - https://www.reportlinker.com/p06073131/?utm_source=GNW
A double-sided tape is any pressure-sensitive tape coated with an adhesive layer on both of its sides.As these tapes can stick two surfaces together, they are being used in a wide range of applications.
They are used for fixing and bonding in many manufacturing industries, such as automotive, healthcare, and building and construction. Using double sided tapes is a better option than screws and rivets as the surface tension is spread evenly across the surface.
Based on resin type, the double sided tape market is segmented into acrylic, rubber, silicone, and others.The silicone segment held the largest share of the market in 2020.
Silicone adhesive tape is a flexible, waterproof, and non-woven material with a unique silicone adhesive.It is fungus resistant and can fight ozone and ultraviolet radiation in outdoor environments.
They are also solvent resistant and exhibit high shear and peel strengths.Moreover, these adhesives are comparatively expensive and have less initial tack but can survive in higher temperatures than both acrylic and rubber adhesives.
Factors such as increasing geriatric population, growing prevalence of chronic diseases, and surging population are augmenting the global medical industry, which is driving the growth of the double sided tape market for silicone segment. Also, several factors such as government support, rapid economic growth, and availability of raw materials and inexpensive labor are propelling the market for silicone adhesive tapes segment worldwide.
The COVID-19 outbreak has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.The chemical & materials industry is one of the significant industries suffering severe disruptions such as supply chain breaks, technology events cancellations, and office shutdowns.
The shutdown of various plants and factories in leading regions such as North America, Europe, Asia-Pacific, South America, and the Middle East, and Africa has restricted the global supply chain and hindered the manufacturing activities, delivery schedules, and various chemicals and materials sales.Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products.
In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are affecting the chemical & materials industry in a negative manner, which is restraining 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 operating in the double sided tape market.
The overall double sided tape market size has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the double sided tape market.
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