by The adhesive tapes market comprises of pressure sensitive tapes that are used for various applications like mounting, bonding, sealing, insulation, medical, and specialized uses. It provides a reliable, economical, and user friendly way of holding materials together with low surface damage.
The global adhesive tapes market is estimated to be valued at US$ 54027.73 Mn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Digitalization has changed the way food ordering is done with online food delivery platforms gaining traction. This has led to growth in packaging requirements for delivering food items safely. Adhesive tapes find increased usage in packaging of food items, sealing boxes and packaging bags. Major online food delivery players like Swiggy, Zomato, Deliveroo, Uber Eats, DoorDash, Grubhub, Just Eat Takeaway.com, Gojek, GrabFoodpanda etc. have witnessed growth in orders during the lockdown with people preferring home delivery over dining out. The exponential rise in online food delivery is expected to drive the demand for adhesive tapes from the food packaging sector over the forecast period.
SWOT Analysis
Strength: Adhesive tapes have wide applications in packaging, medical, automotive and other industries. They provide good adhesion to hold materials together.
Weakness: Some adhesive tapes lose adhesion strength over time. Raw materials for tapes can be affected by price volatility.
Opportunity: Growth of e-commerce is boosting demand for packing tapes. Market has potential in developing regions.
Threats: Stiff competition from alternative bonding methods. Strict environmental regulations can impact raw material sourcing.
Key Takeaways
The Global Adhesive Tapes Market Size is expected to witness high growth. The global adhesive tapes market is estimated to be valued at US$ 54027.73 Mn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2023 to 2030.
The Asia Pacific region currently dominates the global market and is expected to witness the fastest growth during the forecast period. China, India, Japan and other developing nations are driving the market growth owing to increasing industrialization, manufacturing activities and logistics sector development.
Key players related content comprises
Key players operating in the Adhesive Tapes market are Swiggy, Zomato, Deliveroo, Uber Eats, DoorDash, Grubhub, Just Eat Takeaway.com, Gojek and Grab. Adhesive tapes find wide applications for packaging of food delivery orders. Leading online food ordering companies are contributing to the growth of packaging tapes demand.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
