Dublin, Feb. 08, 2022 (GLOBE NEWSWIRE) -- The "Water-Based Adhesive Specialty Tapes Market Research Report: By Resin Type - Global Industry Trends and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The value of the global water-based-adhesive specialty tapes market will increase from $5,093.2 million in 2020 to $9,514.9 million by 2030, at a 6.5% CAGR between 2020 and 2030.
The COVID-19 pandemic had a neutral impact on the water-based-adhesive specialty tapes market, as the supply of raw materials was not significantly impacted.
Moreover, the pandemic, combined with the crashing crude prices, led to varying levels of demand for such tapes from the end-use industries, such as commercial construction and infrastructure. However, the demand for such materials in the medical device and residential construction sectors has risen.
The polyvinyl acetate (PVA) emulsion category is set to hold the largest value and volume shares in the water-based-adhesive specialty tapes market in the coming years, based on resin type. The clear, hard films produced by PVA emulsion show strong resistance against environmental forces, oils, greases, petroleum products, and water.
The electric vehicle bifurcation, within the industry segment, will witness the higher CAGR in the water-based-adhesive specialty tapes market in the coming years. In EVs, such tapes are used for covering the gaps, compensating for evenness, and for bonding purposes in the battery. Other prominent applications of such tapes in EVs are motor assembly, insulation, and wire harnessing.
The Asia-Pacific (APAC) region dominated the water-based-adhesive specialty tapes market in the past due to the growing medical device, automotive, and electronics production. This is itself attributed to the increasing disposable income and rapid economic growth in regional countries.
The market is growing on account of:
Booming Automotive Production
Double-sided tapes, foam tapes, and protection tapes containing water-based adhesives are widely used in the automotive industry, as they are easy to apply and remove. Therefore, with the global vehicle production already touching 21,084,417 units during January-March 2021, as per Organisation Internationale des Constructeurs d'Automobiles (OICA), the demand for such tapes will only burgeon.
Growing Demand from Healthcare Industry
With the increasing incidence of chronic and acute diseases, injuries, burns, and other health issues, the healthcare sector is growing. This is propelling the water-based-adhesive specialty tapes market because such tapes are applied on incisions and wounds. Such tapes hold tightly to band-aids, dressings, and the skin, and they have antigenic properties.
Market Dynamics
Drivers
- Expanding automotive industry
- Increasing demand from the healthcare industry
- Enhanced benefits of water-based adhesive specialty tapes as compared to traditional bonding methods
- Impact analysis of drivers on market forecast
Restraints
- Stringent regulatory norms due to health concerns
- Increase in raw material prices
Definition of Market Segments
By Resin Type
- APE
- PVA Emulsion
- VAE Emulsion
- SB Latex
- PUD
- Others
By Industry
- Construction
- Automotive
- Electric vehicles
- Others
Key organizations competing in the market are:
- 3M Company
- Nitto Denko Corporation
- tesa SE
- LINTEC Corporation
- Shurtape Technologies LLC
- Lohmann GmbH & Co. KG
- Intertape Polymer Group Inc.
- Ashland Global Holdings Inc.
- Henkel AG & Co. KGaA
- H.B. Fuller Company
- Bostik
For more information about this report visit https://www.researchandmarkets.com/r/af1sky
Attachment
