For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
"Growing applications across end-use industries along with rising adoption among end-users are projected to drive the structural adhesive tapes market."
The global structural adhesive tapes market size is projected to grow from USD 7.6 billion in 2020 to USD 10.2 billion by 2026, at a CAGR of 4.1% during the forecast year. The global structural adhesive tapes market has witnessed consistent growth owing to significant growth in electrical & electronics, automotive, building & construction, and healthcare industries. Moreover, the significant growth of the pharmaceutical industry in developing countries and the demand for thermal management solutions are driving the structural adhesive tapes market. Along with this, the increasing demand for strong, superior quality, reliable, and accurate structural adhesive tapes and expansion of gigafactories across the globe are expected to offer opportunities for structural adhesive tape manufacturers.
"Acrylic resin type segment estimated to lead the structural adhesive tapes market in 2020."
The Acrylic segment's resin type accounted for the largest share in the overall structural adhesive tapes market. The demand for acrylic structural tapes is increasing worldwide, particularly in Europe, because of the region's growing electrical & electronics, healthcare & hygiene, and automotive industries. The properties of acrylic structural tapes make them more favorable in North America and Europe, where environmental regulations regarding solvent-based technology are very strict. Also, the price of acrylic structural tapes is comparatively lower than other types.
"PVC segment is estimated to be leading backing material of structural adhesive tapes."
The PVC segment led the overall structural adhesive tapes market in 2020, both in value and volume. The fastest-growing market for PVC structural tapes is in developing countries, particularly in the electrical and electronics industries. It finds application in several end-use industries such as automotive, construction, electronics, and healthcare. Thus, with the growth of end-use industries worldwide, the demand for PVC-based structural tapes is expected to increase in the upcoming years.
Building & Construction end-use segment is estimated to be the largest segment of structural adhesive tapes
The Building & Construction segment is estimated to be the largest end-use segment in terms of demand. However, the healthcare segment led the overall structural adhesive tapes market in 2020 in terms of value owing to comparatively high price of the structural adhesive tapes used in this industry. The demand for structural tapes is anticipated to grow owing to ongoing mega projects across the globe. For instance, the California High-Speed Rail (CHSR) is a publicly funded, worth USD 77 billion, is a high-speed rail system under construction in the U.S. state of California. It is projected to connect the Anaheim Regional Transportation Intermodal Center in Anaheim and Union Station in Downtown Los Angeles. In addition to this, the booming Electric Vehicle (EV) industry is also anticipated to contribute to the product demand. EV manufacturers have announced several giga factories to be setup in various countries including US, Germany, China, Poland, among others.
"APAC projected to account for the largest share of the structural adhesive tapes market during the forecast period."
APAC is projected to have the largest share in the global structural adhesive tapes market, in terms of both value and volume, from 2021 to 2026. APAC has been a high potential structural adhesive tapes market against an overall slowdown in global economic development. This region encompasses a diverse range of economies with different levels of economic development and a large variety of industries. Most of the industries in this region include manufacturing, mining, semiconductors, electronics, oil & natural gas, textile, automobile, financial services, pharmaceutical, and telecommunication.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and other executives from various key organizations operating in the structural adhesive tapes market.
- By Company Type: Tier 1: 55%, Tier 2: 30%, and Tier 3: 15%
- By Designation: C-level Executives: 21%, Directors: 23%, and Others: 56%
- By Region: North America: 15%, Europe: 45%, Asia Pacific: 27%, South America: 7%, and Middle East & Africa: 6%.
The global structural adhesive tapes market comprises major manufacturers such as 3M Company (US), Avery Dennison Corporation (US), Tesa SE (Germany), Nitto Denko Corporation (Japan), and Lintec Corporation (Japan).
Research Coverage
The market study covers the structural adhesive tapes market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on resin type, backing material, end-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position structural adhesive tapes market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall structural adhesive tapes market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.