[183 Pages Report] The report "Double Sided Tape Market by Resin Type (Acrylic, Rubber, Silicone), Technology (Solvent, Water, and Hot Melt), Backing Material (Foam, Film, Paper), End-Use (Automotive, Building & Construction, Paper & Print), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to reach USD 13.15 Billion by 2023 at a CAGR of 6.93% from 2018 to 2023. The Double Sided Tape Market is estimated at USD 9.41 Billion in 2018 and is projected to reach USD 13.15 Billion by 2023, at a CAGR of 6.93% between 2018 and 2023.
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Based on resin type, the silicone segment is expected to grow at the highest CAGR during the forecast period.
The silicone segment is projected to grow at a higher rate than the other resin types because of its better adhesion properties. Silicone-based double sided tapes maintain adhesion over a larger temperature range and possess the ability to adhere to difficult surfaces. These factors are expected to drive the market for silicone resin-based double sided tapes during the forecast period.
Based on technology, the hot-melt segment of the double sided tape market is expected to grow at the highest CAGR during the forecast period.
The hot-melt technology segment is projected to witness the highest growth during the forecast period. Hot-melt double sided tapes is the fastest-growing class of double sided tapes in healthcare, aerospace, and wind and solar energy applications. These double sided tapes have an extreme rate of bond formation, which can translate into high production rates. In the US, the hot-melt technology is widely used in tape production by key players, such as 3M Company (US) and Intertape Polymer Group, Inc. (Canada).
Based on backing substrate, the paper/tissue segment of the double sided tape market is expected to grow at the highest CAGR during the forecast period.
The paper segment is projected to grow at the highest CAGR from 2018 to 2023 as it is cheaper and recyclable. Smooth or crepe paper with different elongation degrees and tensile strengths are used as a backing material for double sided tapes. The demand for double sided tapes in the paper & printing, electrical & electronics, healthcare, and packaging industries is expected to drive the demand for paper/tissue backing material.
The double sided tape market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
The double sided tape market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period, due to the rising demand for double sided tapes from emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. China is leading the market for double sided tapes in the Asia Pacific region. The growth of various end-use industries, such as automotive, electrical & electronics, and paper & printing, is projected to drive the demand for double sided tapes in China.
3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Intertape Polymer Group, Inc. (Canada), Avery Dennison Corporation (US), Shurtape Technologies, LLC (US), and Scapa Group Plc (UK) are some of the key players operating in the double sided tape market
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