Why will Sales of Adhesive Tapes Skyrocket in Asia-Pacific (APAC) in Coming Years?

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The global adhesive tapes market was valued at $54,333.4 million in 2017 and is projected to reach $74,954.6 million by 2023, witnessing a CAGR of 5.5% during the forecast period.

The rapid growth of the automotive industry, especially in the Asia-Pacific (APAC) countries such as China and India, has massively pushed up the requirement for adhesive tapes across the globe. This is because these tapes are extensively used either in the form of protection tapes or double-sized tapes in the automotive industry. Moreover, the usage of adhesive tapes allows the automobile manufacturers to move away from the conventional mechanical fasteners such as bolts and screws.

Unlike these fasteners, the adhesive tapes are very lightweight and therefore, the usage of these tapes allows the automakers to drastically reduce the weight of the vehicles. Apart from being heavily used in the automotive industry, these tapes are also extensively required in various packaging applications in the e-commerce and electrical and electronics industries. Furthermore, the expansion of the e-commerce industry, on account of the rising penetration of the internet, is significantly augmenting the global demand for adhesive tapes.

Thus, with the ballooning utilization of adhesive tapes in various industries, the global adhesive tapes market will register substantial growth in the future years. In simpler terms, an adhesive tape is defined as a continuous flexible strip made of metal foil, paper, plastic film, or cloth coated with an extremely thin layer of permanent glutinous adhesive either on one side or on both sides. These tapes are also popularly known as sticky tapes, self-sticking tapes, pressure-sensitive tapes, and tapes.

Adhesive tapes are commonly available in the form of sheets or rolls of different sizes. They are increasingly being required for use in product packing and binding applications in the healthcare, e-commerce, and food and beverage industries. The adhesive tapes market is divided, on the basis of type, into specialty and commodity tapes. Between the two, the specialty tapes category is predicted to exhibit rapid growth in the market in the coming years.

Geographically, APAC was the largest region in the adhesive tapes market in terms of volume, contributing more than 50.0% share in 2017. During the forecast period, the adhesive tapes market is expected to witness the fastest growth in APAC. This can be attributed to the increasing utilization of adhesive tapes in China, as the country is witnessing developments in the electronics, automotive, and healthcare industries.

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