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Thriving E-Commerce Industry Driving Global Adhesive Tapes Industry Advancement

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Aryan Kumar
Thriving E-Commerce Industry Driving Global Adhesive Tapes Industry Advancement

The valuation of the global market for adhesive tapes is expected to rise from $54,333.4 million in 2017 to $74,954.6 million by 2023. The market is predicted to advance at a CAGR of 5.5% during the forecast period. An adhesive tape is basically a continuous flexible strip made of cloth, paper, metal foil, or plastic film glazed with a thin later of permanent glutinous adhesive either on one or both sides. These tapes are also known as self-sticking tapes, sticky tapes, and pressure-sensitive tapes.

Furthermore, restrictions laid down by governments on the use of toxic chemicals for the production of adhesive solutions has led to the adoption of eco-friendly products such as water-activated tapes that are biodegradable in nature. These environment-friendly tapes are produced by using biodegradable polymers that are obtained through the polymerization of bio-based raw materials. The development of recyclable tapes is creating lucrative opportunities for companies such as 3M Company, LINTEC Corporation, Intertape Polymer Group Inc., Scapa Group plc, Nitto Denko Corporation, and tesa SE.

According to P&S Intelligence, the Asia-Pacific (APAC) region accounted for the highest consumption of adhesive tapes. Further, the APAC adhesive tapes market is projected to witness rapid growth during the forecast period, due to the increasing utilization of these adhesive solutions in the healthcare, electrical and electronics, and automotive industries, primarily in India and China. Besides, the easy availability of cheap labor and low-cost raw materials has stimulated the manufacturing of tapes with adhesion properties. This has resulted in high volume production of low-priced tapes in the region.

Thus, the availability of new and improved tapes, such as water-soluble adhesive tapes, has increased their applications in several sectors like automobile, food, and packaging.

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