Solvent Based Adhesive Tape Market Forecasts from 2023 to 2028

The solvent-based adhesive tape market is estimated to grow at a CAGR of 5.47% to reach US$26.724 billion in 2028 from US$18.413 billion in 2021.

The packaging, tape, and medical sectors all often utilize solvent-based adhesive tapes because of their great resilience to various environmental variables. The rising demand in emerging markets for adhesives with solvent bases is due to the rising preference for solvent-based adhesives over water-based adhesives, technological developments in adhesive compositions using solvents, and the growth of internet purchasing.

Increasing Sales of Industrial Adhesives

The growth in net sales of industrial adhesives and tapes has positively impacted the rise in the solvent-based adhesive tapes market. As per the 2021 annual report of 3M, a leading manufacturer of solvent-based adhesives, the company has noted a significant rise in net sales of industrial adhesives and tapes, which was US$ 2,000 million in the year 2020 and surged to US$ 2,353 million in 2021. Solvent pressure-sensitive adhesive tapes provide several significant benefits, which include, good performance at both low and hot temperatures, high grip, or heat sealing, highly effective temperature resistance, excellent adherence to a variety of substrates, including ABS, PVC, PS, PA, and aluminum, and aggressive approach, for fusing different types of materials.

Growing Popularity of Silicone-based Adhesive Tape

The silicone-based adhesive tape which is based on resin is growing in popularity across a variety of end-use industries and is anticipated to dominate the market because it adheres to difficult surfaces and maintains its adhesion over a broad temperature range. Additionally, acrylic-based adhesive tapes are gaining popularity. For instance, premium grade solvent-based acrylic PP807 is a general-purpose label protection tape used for industrial and production laminating, joining, covering, and protecting tasks as well as for shielding labels and handling instructions. PP 807 provides a moisture-proof barrier to protect sensitive information and is resistant to germs, fungus, solvents, weathering, and yellowing.

Technological Advancements

The amount of money spent on research and development in the chemical business has increased recently to improve the compound's durability, performance, and safety profile. The research initiatives are geared toward ensuring that these compounds adhere to legal requirements while simultaneously addressing environmental issues. These technological advancements are being used by major manufacturers around the globe while product development. For instance, India's leading producer of lamination adhesives used in flexible packaging, Mumbai-based Brilliant Polymers, stated in August 2022 is planning to expand its Ambernath manufacturing facility. With this change, the factory's output capacity will quadruple to 45,600 metric tonnes, supported by a total investment of more than INR 100 crore.

Europe is Expected to Grow Significantly

The industrial sector in Germany, including manufacturing, automotive, electronics, and construction, is a significant consumer of adhesive tapes. Solvent-based tapes are favoured for their strong bonding capabilities and versatility in various applications. As these industries grow and demand for adhesive solutions increases, the market for solvent-based tapes may witness growth. For instance, the construction sector of Germany contributes around 26.7% of the nation's GDP as per the World Bank. The packaging industry also is one of the primary users of adhesive tapes. Solvent-based tapes are commonly used for packaging applications due to their excellent adhesion properties. With the rise of e-commerce and the increasing need for efficient packaging solutions, the demand for solvent-based tapes in Germany may have experienced growth.

Major Market Players

• Intertape Polymer Group focuses on serving its customers with the best quality products with technical expertise and R&D to bring top-quality polymer designs. The company is an established market leader in the manufacturing & sale of a variety of tapes, films, protective packaging & engineered coated products for different industrial & retail purposes.

Key Market Developments

• In September 2022, Covestro introduced a cutting-edge and environmentally friendly adhesive product at the 25th China Adhesive and tape industry conference.
• At the Interpack 2023 trade show in Dusseldorf in May 2023, Brilliant Polymers announced the introduction of a new line of goods. The product line includes GLYMO-free high-performance solvent-based adhesive which is ideally suited for retort applications.
• Innovative Chemical Products (ICP Group) and Choice Adhesives, a provider of specialized adhesive solutions for several sectors, reached an agreement to merge in May 2021.
• The purchase of BDK Industrial Systems Ltd. by ATP Adhesive Systems Group, a Swiss company that creates and produces client-specific adhesive systems, was announced in March 2021 for an unknown value. The merger is anticipated to boost the market positions of both businesses and allow them to provide a greater choice of customized goods to their clients, including customized and medical solvent-based adhesive tapes.
• In March 2023, At ICE Europe, ORAFOL, a leading solvent-based adhesive tape manufacturer exhibited cutting-edge sticky tape technologies. The international exhibition for paper, film, and foil converting, known as ICE Europe, will be bringing together the converting sector.

Segmentation:

By Resin Type

• Acrylic
• Rubber
• Silicone
• Others

By Material

• Polypropylene (PP)
• Paper
• Polyvinyl Chloride (PVC)
• Others

By End-Users

• Packaging, Consumer, and Office
• Healthcare
• Automotive
• Electrical And Electronics
• Building And Construction
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Others
• Middle East and Africa
• Saudi Arabia
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Thailand
• Taiwan
• Others