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Pharmacy benefit management market
CLOTH ADHESIVE TAPE MARKET REPORT OVERVIEW
global cloth adhesive tape market size was USD 1209 million in 2020 and market is projected to touch USD 2003.67 million by 2032 at CAGR 4.3% during the forecast period.
The cloth adhesive tape market growth expansion can be ascribed to the increasing need for sticky cloth tapes from a variety of end-use sectors, including stationery, healthcare, and electricity. Furthermore, this market is expanding due to the increasing need of adhesive cloth tapes within various sectors. The need for cloth self-adhesive tapes has increased due to the aviation and automotive industries' rapid growth, and this trend is predicted to continue in the near future.
The need for tapes in wound healing, medical device fixing, and surgical application is being driven by the healthcare sector's growing emphasis on cleanliness and infection control. The demand for tapes in packing and shipping applications is being positively impacted by the growth of e-commerce and online retail platforms.
COVID-19 Impact: National and International Transport Restrictions Hampered Market Share
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The tape value chain was impacted by the COVID-19 outbreak in a number of ways. The value chain and other industries have suspended, seriously disrupting the raw material manufacturers. The issue was made worse by national and international transportation restrictions that were put in place to stop the pandemic's spread. As a result, the cost of different starting materials, including paper and PVC, increased by 10% to 50%, which also had an impact on the market's rise in revenue for cloth adhesive tape.
LATEST TRENDS
"Production of Unique Designs and Fashions to Stimulate Market Development"
In the automotive sector, fabric self-adhesive tapes are commonly employed to produce unique designs and fashions. Research & development expenditures are being actively leveraged by tape makers to create advanced fabric self-adhesive tapes. In order to provide protection against high temperatures and moisture, which will work as market drivers and further raise advantageous chances for the market's growth rate, specialized masking tapes are now progressively being used in the aerospace sector.
CLOTH ADHESIVE TAPE MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into solvent based, rubber based, other.
Solvent Based: For applications requiring resistance to elevated temperatures, UV rays, or other external variables, solvent-based adhesives tapes remain a good option. Solvent-based adhesives tapes have a higher bonding strength and may withstand more challenging environmental conditions than water-based adhesives.
Rubber Based: Synthetic polymers resembling rubberized tape are frequently utilized in hook and loop attaching systems. Rubber glue can be more expensive and have a better early tack strength compared to other adhesives tapes, but it can degrade over time due to its increased susceptibility to moisture and heat.
Other: Adhesive cloth tape with two layers of adhesive is called double-coated adhesive cloth tape. As a result, it is stronger and less likely to tear. Moreover, peeling it off is simpler than with single-coated tapes. The industries that use double-coated tapes the most include power, medical care, and stationery. They are also well-liked in other sectors, including the building and automotive industries.
- By Application
Based on application the global market can be categorized into packaging, building & construction, electrical & electronics, automotive, health & hygiene, others.
Packaging: Across a wide range of sectors, the tape serves as a useful and essential instrument for safely sealing and packing goods for storage or transit. Choosing the best kind of packing tape for your unique requirements can be difficult given the abundance of options available.
Building & Construction: The tapes provide maximum performance across a range of usage situations. While glazing adhesives maximize window and door insulation to minimize the loss of heat and environmental effect, the tapes allow for the easy changing of interior spaces.
Electrical & Electronics: Among the most widely used kinds are the adhesive tape, which guarantee that no direct electrical link is created between two or more networks or the components that surround them and offer dependable electronic isolation.
Automotive: However, automobile interiors are the primary application for these tape. It's perfect for modifications to a panel or other interior elements because of its capacity to remain concealed beneath components. Small body parts including mirrors, bumper trims, moldings, and trims may additionally be used with it.
Health & Hygiene: These tapes are incredibly strong, flexible, and elastic, which contributes to their durability. These tapes are strong enough to be used for securing tubing, bandages, catheters, and other medical supplies.
Others: In place of nails, screws, or welding, adhesive tapes are used to connect or join objects together. They are a mix of a substance and an adhesive film. Production operations can be simplified by using lower-temperature applications when adhesive tapes are used in place of mechanical fasteners.
DRIVING FACTORS
"Incorporation in Packaging Business to Support Market Expansion"
A lot of cloth self-adhesive tape is utilized in the packaging business. For example, it's employed to seal boxes that hold delicate items. This tape won't be difficult to remove at any time while in transit; it will adhere and stay intact until it reaches its destination. Moreover, this kind of tape can be combined with various kinds of solvent-based cloth adhesive tape to create an airtight seal in containers. The market is predicted to develop as a result of the growing demand for this tape in the packaging industry.
"Rise in Healthcare Acquired Infections to Foster Industry Progress"
The market is developing primarily due to the rise in healthcare-acquired infections (HAIs), clinicians' concerns about patient safety, manufacturer product line extensions, growing innovation, and the creation of tapes intended for single patient use. Additionally, it is projected that the global market would see higher revenue growth due to increased incidence of injuries, wounds, and burns as well as growing awareness among patients and clinicians about the use of healthcare tapes for securement.
RESTRAINING FACTOR
"Lack of Essential Status and Appropriate Selection Recommendations to Restrict Market Evolution "
However, the availability of cutting-edge wound care products, the absence of appropriate selection recommendations, the rise in skin injuries associated with medical adhesive, and the use of medical tapes across different regions are anticipated to impede the growth of revenue within the market. Additionally, throughout the forecast period, the lack of essential status would function as a hindrance that could impede the expansion of the fabric self-adhesive tape market.
Furthermore, it is anticipated that the growing opportunities brought about by innovative products would encourage established market participants to engage in product development initiatives that pose significant challenges to the end user industries.
CLOTH ADHESIVE TAPE MARKET REGIONAL INSIGHTS
"Asia Pacific to Lead the Market Owing to Growing Demand from Number of Industries "
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
When it comes to market share for fabric self-adhesive tape throughout the course of the forecast period, Asia Pacific leads. This is because cloth self-adhesive tape is becoming more and more in demand in this area. Because cloth self-adhesive tapes are being used more often in the automotive and logistics sectors of these growing economies, the Asia Pacific now holds the top spot in the market for the tapes.
Because of the region's increasing amount of trade and e-commerce, it is predicted to develop at the quickest rate during the estimated timeframe. In terms of cloth adhesive tape market share, Asia Pacific accounted for a substantial percent of the global sticky cloth tape market in 2019. Over the course of the forecast period, the region is anticipated to maintain its dominance due to growing demand from a number of industries, including stationery, power, and healthcare. Product demand is expected to increase further due to rising economies including China and India's growing infrastructural initiatives and rapid industrialization.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
LIST OF TOP CLOTH ADHESIVE TAPE COMPANIES
- 3M (U.S.)
- Nitto Denko (Japan)
- Avery Dennison (U.S.)
- tesa SE (Germany)
- Henkel (Germany)
- Berry Plastics (U.S.)
- Intertape Polymer (U.S.)
- LINTEC Corporation (Japan)
- Achem Technology Corporation (China)
- Yonghe Adhesive Products (China)
- Winta (China)
- Yongle Tape (China)
- JinghuaTape (China)
- Luxking Group (China)
- Shushi Group (China)
- Yongguan (China)
INDUSTRIAL DEVELOPMENT
October 2023: To address packaging issues, 3M Company introduced Scotch High Tack Boxes Sealant Tape 375+, an upgraded sealing tape, in October 2023. It guarantees excellent performance for shipping and e-commerce while resolving issues with inadequate box sealing tape.
REPORT COVERAGE
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1209 Million in 2020 |
Market Size Value By |
US$ 2003.67 Million by 2032 |
Growth Rate |
CAGR of 4.3% from 2020 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is cloth adhesive tape market expected to touch by 2032?
The global cloth adhesive tape market is expected to reach USD 2003.67 million by 2032.
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What CAGR is the cloth adhesive tape market expected to exhibit by 2032?
The cloth adhesive tape market is expected to exhibit a CAGR of 4.3% by 2032.
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Which are the driving factors of the cloth adhesive tape market?
Incorporation in packaging business and rise in healthcare acquired infections are some of the driving factors of the cloth adhesive tape market.
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What are the cloth adhesive tape market segments?
The cloth adhesive tape market segmentation that you should be aware of, which include, Based on type the cloth adhesive tape market is classified as solvent based, rubber based, other. Based on application the cloth adhesive tape market is classified as packaging, building & construction, electrical & electronics, automotive, health & hygiene, others.