Market Research Report
Global Double-sided Tape Market Research and Forecast 2018-2023
|Published by||Orion Market Research Pvt Ltd||Product code||670586|
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|Global Double-sided Tape Market Research and Forecast 2018-2023|
|Published: July 28, 2018||Content info:||
Double-sided tape is referred to any pressure-sensitive tape that is coated with an adhesive layer on both of its sides. It is designed to stick lightweight surfaces together and provides neater look to the surfaces as it is not visible in the end product. There are two types of double-sided tapes manufactured, which can be regarded as thick double-sided tapes and thin double-sided tapes. Double-sided tapes are more effective with sticking objects such as cardboard, paper, and arts and crafts. These tapes are used by various industries such as automotive, building & construction, and electrical & electronics for splicing, holding, mounting, and bonding, among others.
Growing demand for double-sided tape in various sectors such as automotive and electronics, is a major factor contributing in the growth of the global double-sided tape market. There is a rising demand for polyester and acrylic foam-based double-sided tape in appliances, which in turn, augmenting the growth of the market. The government has implemented various regulatory policies, in order to increase the development of eco-friendly products is hampering the growth of the global double-sided tape market across the globe. Moreover, the high cost of raw material such as foam backing material and limitation of paper backed double-sided tape are some other factors that are restraining the growth of the market. However, the rapid urbanization and industrialization in Asia Pacific along with entry of new players in the double-sided tape market are some of the factors that are expected to propel the growth of the market in the near future.
The double-sided tape market can be segmented on the basis of resin type, technology, backing material, and end users. Based on resin type, the market is segmented into acrylic, rubber, silicone, and others (paper). Based on technology, the market can be categorized into solvent-based, water-based, and hot-melt. On the basis of backing material, the market can be bifurcated into foam, paper/tissue, film, fastening material, and others (metal foil and polyester). Based on end users, the market can be segmented into automotive, construction, paper & print, aerospace, medical devices, electrical & electronics, packaging, transportation, and others (oil & gas, defense, and appliances). Among the end users, the automotive segment holds the largest market share in the global double-sided tape market. This is mainly due to its extensive use in the automotive applications such as in plate panels, emblem & name plates, roof molding, side mirrors, rocker panel/claddings, and rear spoilers.
The global double-sided tape market is further analyzed on the basis of the geographical regions that are contributing in the growth of the market. Asia Pacific contributes the largest market share in the global double-sided tape market. This is mainly owing to rapid urbanization and industrialization in the emerging economies of the region, especially in China and India. The supportive government regulations and availability of cheap raw materials are some other factors that are significantly fueling the market growth. Moreover, the Asia Pacific is projected to be the most opportunistic region in the global double-sided tape market over the forecast period. This is due to entry of new market players in the region is expected to positively impact the revenue share of double-sided tape market in the region.
Some of the key players operating in the global double-sided tape market are 3m, Tesa SE, Nitto Denko Corporation, Berry Global Inc., FlexCon Company, Inc., Intertape Polymer Group, Luxking, Saint-Gobain, Scapa Group Plc, Shurtape Technologies, LLC, and Lintec Corporation, among others. In order to sustain in the competitive market, these players adopt various strategies such as acquisitions, mergers, expansions, joint ventures, and product development, among others. For instance, in June 2018, Techsil launched a range of tapes for electric vehicles. The tapes will offer various electrical properties such as EMI shielding, flame retardation, thermal & electrical insulation, and heat sink optimization.
The market study of double-sided tape market is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings the authenticity in our reports.
The report is intended for raw material suppliers, third-party manufacturers, end-use industries, and government organizations for overall market analysis, and competitive analysis. The report provides in-depth analysis on pricing, market size, intended quality of the product preferred by consumers, initial norms and vehicle segment. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models such as PEST analysis, Porter five analysis delivering insights into the market for better business decisions.