Double Sided Tapes Market Share, Size, Trends, Industry Outlook Analysis Report, By Resin Type (Acrylic, Rubber, Silicone, Others); By Technology; By Tape-Backing Material; By End-use Industry; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jun-2024
- Pages: 119
- Format: PDF
- Report ID: PM4932
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Double Sided Tapes Market size was valued at USD 4.45 billion in 2023. The market is predicted to grow from USD 4.63 billion in 2024 to USD 7.08 billion by 2032, exhibiting a CAGR of 5.5% during the forecast period.
Market Overview
The growth of double-sided tapes in the market is highly attributable to the growing demand for these tapes in the automotive industry outlook. Consumers are showing a willingness to spend on automobiles, driven by increased consumer disposable income, facilitating the demand for more automobiles, and contributing to the significant rise in demand for automotive manufacturing equipment, including double-sided tapes. The ongoing preference for environmentally friendly products is gaining adoption in the production of double-sided tapes by manufacturers.
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- For instance, in May 2023, Lohmann introduced a new biobased portfolio, DuploCOLL ECO, with the utilization of solvent-free technology, TwinMelt. This is enabling the production of adhesive tapes with lower energy consumption and emissions.
Moreover, the higher efficiency compared to one-sided tape is playing a significant role in the growth of the double-sided tapes market. As double-sided tapes are used to bond two surfaces together without leaving any visibility of the stickiness, this is driving new potential in the marketplace. The rising utility of double-sided tapes in signage and graphics space is anticipated to foster market sales growth.
Growth Drivers
Expansion of the construction industry is driving the market growth
The growing population at the global level and the growing urban population worldwide necessitate the construction of more buildings, driving the industry demand for equipment used in the construction process, including adhesives, as they play a significant role in the installation of hardwood flooring and the arrangement of concrete trims.
Growing adoption of e-commerce solutions is boosting the market growth
The double-sided tapes are utilized in packaging consumer goods. The ongoing trend of increasing consumption of various goods is attributable to rising disposable income and increased accessibility to retail platforms. The emergence of e-commerce solutions in the marketplace is stimulating the need for numerous products, boosting the industry demand for packing equipment, including double-sided tapes, due to their higher adhesive properties.
Restraining Factors
The higher costs of production hurdles are likely to impede market growth
The limited temperature resistance of the double-sided tapes is affecting the demand from users for adhesives in extreme weather conditions. Furthermore, the higher costs of production, driven by the price fluctuations of the raw materials used in the production of these tapes, are expected to hinder market growth in the study period.
Report Segmentation
The market is primarily segmented based on resin type, technology, tape-backing material, end-use industry and region.
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By Resin Type |
By Technology |
By Tape-Backing Material |
By End-use Industry |
By Region |
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By Resin Type Analysis
Acrylic segment is expected to witness the highest growth during the forecast period
The acrylic segment will grow rapidly due to its appealing adhesive properties. The resistance power of acrylic in protecting from UV rays and oxidation and the faster drying time are contributing factors for the higher segmental growth over other resin types, according to the double-sided tape market report forecast. The increased utilization of acrylic-based double-sided tapes in construction, defense, aerospace, and other end users is expected to contribute to a higher adoption rate in the marketplace in the coming years.
Silicone-based double-sided tapes are expected to witness significant demand during the forecast period, accounting for their enhanced durability. They are widely employed in the packaging of goods and automotive applications.
By Technology Analysis
Solvent-based segment registered the largest market share in 2023
The solvent-based segment witnessed the largest market share, owing to its ability to withstand chemical exposure and high temperatures. These technology-based adhesives are water-resistant. Moreover, in combination with polyester urethanes, solvent-based synthetic tapes are mostly employed, driven by their intrinsic structural stability.
The water-based segment is expected to grow at the fastest rate over the next few years on account of its superior performance in combining several surfaces, such as metals, fabrics, papers, and plastics. The reliability of bonding and significant protection from extreme atmospheric pressures are likely to enhance the demand for water-based double-sided tapes during the forecast period.
By Tape-Backing Material Analysis
Foam-backed segment held the largest market revenue share in 2023
The foam-backed segment held the largest market share in terms of revenue in the year 2023, which was highly accelerated due to its cushioning and conformability properties. Basically, foam-backed are made up of polyethylene or polyurethane, which offers conformability properties, making them suitable for the bonding of electronic components.
However, the film-backed segment is likely to witness substantial growth in the coming years, driven by the gaining utility of these tapes in applications including battery, component lens, and touch panel mounting, which are expected to create significant demand in the global market during the forecast period.
By End-use Industry Analysis
Automotive segment registered the dominating share of the global market in 2023
The growth of the automotive segment is driven by the growing demand for automobiles in the global market, contributing to the increased supply and necessitating the demand for raw materials and other electrical components, along with the adhesives in the world.
Building and construction, followed by the automotive sector, is anticipated to grow at a significant growth rate during the forecast timeframe, driven by growing building and construction activities with advanced designs.
Regional Insights
North America region registered the largest share of the global market in 2023
The North America region held the global market size with the largest share in 2023 and is expected to continue its dominance over the study period. The existence of a strong base in the automotive industry and efficient e-commerce platforms is contributing to the expansion of the double-sided tape market in the region.
The Asia Pacific region is anticipated to be the fastest-growing region, with a CAGR during the projected period. The growth of the segment market can be largely attributed to the growing construction, electronic, and automotive sectors in the region, driving the demand for double-sided tapes significantly.
The rising evolution of e-commerce in the region, specifically India and China, with the presence of a large segment of middle-income groups, is creating demand for packaging solutions. According to Invest India, the Indian e-commerce industry is expected to grow at an 18% CAGR through 2025. This ongoing demand is expected to expand the double-sided tape market in the region during the projected time frame.
Key Market Players & Competitive Insights
Strategic partnerships to drive the competition
The double-sided tape market is moderately fragmented and is expected to witness competition due to several market companies presence. Growing product innovations, partnerships, collaborations, and strategic acquisitions are propelling market expansion. Growing research and development practices by major market companies at global level is further boosting the demand. For instance, 3M rediscovered the new double-sided pressure-sensitive adhesive, 3M VHB Extrudable Tape, by combining adhesive science with robotics.
Some of the major players operating in the global market include:
- 3M (US)
- Avery Dennison Corporation (US)
- Guangzhou Broadya Adhesive Products Co. Ltd (China)
- Intertape Polymer Group, Inc. (US)
- Lintec Corporation (Japan)
- Lohmann GmbH & Co. Kg. (Germany)
- Nichiban Co. Ltd. (Japan)
- Nitto Denko Corporation (Japan)
- Scapa Group Plc (UK)
- Shurtape Technologies, LLC. (US)
- TESA SE (Germany)
Recent Developments in the Industry
- In August 2023, Ahlstrom introduced the latest range of release papers, which are made up of unbleached cellulose fibres and PCR, with an anticipated carbon emission reduction of around 20%. Acti-V RF Yellow is a newly released paper that contains 15% post-consumer recycled fiber.
Report Coverage
The double-sided tapes market report emphasizes key regions across the globe to provide a better understanding of the product to the users. Also, the report provides market insights into recent developments and trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers an in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides a detailed analysis of the market while focusing on various key aspects such as competitive analysis, resin type, technology, tape-backing material, end-use industry, and their futuristic growth opportunities.
Double Sided Tapes Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 4.63 billion |
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Revenue forecast in 2032 |
USD 7.08 billion |
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CAGR |
5.5% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
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Regional scope |
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Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
Double Sided Tapes Market Size Worth $ 7.08 Billion By 2032
The top market players in the market are 3M, Avery Dennison Corporation, Guangzhou Broadya Adhesive Products Co
North America is the region contribute notably towards the global Double Sided Tapes Market.
Double Sided Tapes Market exhibiting a CAGR of 5.5% during the forecast period.
Double Sided Tapes Market report covering key segments are type, technology, tape-backing material, end-use industry and region.
