HOME Research Insight 3M Company (US) and Intertape Polymer Group, Inc. (Canada) are the Key Players in the Adhesive Tapes Market

3M Company (US) and Intertape Polymer Group, Inc. (Canada) are the Key Players in the Adhesive Tapes Market

The adhesive tapes market is estimated to be USD 51.25 Billion in 2017 and is projected to reach USD 69.42 Billion by 2022, at a CAGR of 6.26% between 2017 and 2022. Adhesive tapes are a continuous, flexible backing material of cloth, cotton, fiber, paper, metal, plastic, or foam coated on one or both sides with a tacky adhesive. Adhesive tapes adhere to a variety of surfaces with light pressure (finger pressure) or with no phase change (liquid to solid). There are 2 categories of adhesive tapes, namely, commodity adhesive tapes and specialty adhesive tapes. Commodity adhesive tapes include packaging, masking, and consumer & office tapes. Specialty adhesive tapes are used in various applications, such as healthcare, electrical & electronics, automotive & transportation, white goods, paper & printings, building & construction, and retail.

The strategy of acquisitions was the key growth strategy adopted by leading players in the adhesive tapes market between 2014 and 2018. Companies operating in the adhesive tapes market are focused on enhancing their product portfolios and expanding their global presence. These companies are also focused on entering new markets by launching technologically-advanced and eco-friendly adhesive tapes for various end-use industries. Leading manufacturers of adhesive tapes include 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).

Intertape Polymer Group, Inc. is a key player in the adhesive tapes market. The company accounted for a share 50% of all developmental activities that took place in the adhesive tapes market between 2014 and 2018. Intertape Polymer has adopted inorganic growth strategies to enhance its geographic reach in the adhesives tapes market. For instance, in 2015, the company acquired Tara Tape (US) for a purchase price of USD 11.0 million. This acquisition enabled Intertape Polymer to enhance its growth in the packaging tapes segment.

The 3M Company is another key player that has established a strong foothold in the adhesive tapes market. The company concentrates on expanding its customer base through acquisitions. For instance, in October 2016, the 3M Company invested USD 135 million in its Tuas Plant (Singapore). The company aims to manufacture acrylic foam tapes (Scotch Tape) for use in applications, such as healthcare, packaging, and electrical & electronics.

Related Reports:

Adhesive Tapes Market by Resin Type (Acrylic, rubber, silicone), Technology (Solvent, Water and Hot-Melt-Based), Substrate (PP, Paper, PVC), Application (Packaging, Healthcare, Electrical & Electronics, Automotive), and Region-Global Forecast to 2022

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