3M Company (US), tesa SE (Germany) are Leading Players in the Adhesive Tapes Market
The adhesive tapes market is projected to grow from USD 63.1 billion in 2021 to USD 83.8 billion by 2026, at a CAGR of 5.8% during the forecast period. Growing use of adhesive tapes in diverse industries, rising urbanized population, and improved healthcare systems are driving the demand for adhesive tapes.
The key players of the market include 3M Company (US), tesa SE (Germany), Nitto Denko Corporation (Japan), Lintec Corporation (Japan), Intertape Polymer Group (Canada), Avery Dennison Corporation (US), Lohmann GmbH (Germany), Berry Global Inc. (US), Scapa Group PLC (Canada), and Rogers Corporation (US). New product launches, mergers & acquisitions, and investments & expansions have been the major strategies adopted by the key players between 2016 and 2021, to enhance their market shares and expand their global presence.
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In line with the rising demand for adhesive tapes, 3M Company offers a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. The company operates through four business segments, namely, Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. It manufactures adhesive tapes for varied applications through the Industrial segment. Through the Industrial segment, 3M offers a comprehensive range of adhesive tapes to meet the challenges in the appliances, aerospace, automotive, construction, MRO, electronics, commercial, transportation, and marine industries. Along with the Specialty Six (Foil Tape, Vinyl Tape, Glass Cloth Tape, Polyester Tape, PTFE Tape, and UHMW Tape), the company has an extensive portfolio of options for every application. In October 2019, the company launched upgraded sealing tape, Scotch High Tack Box Sealing Tape 375+, to meet packaging challenges. It ensures high-performance for e-commerce and other shipments and overcoming ineffective box sealing tape challenges. Through the strategy of new product launch, the company is able to cater to the demands of a wide range of industries, especially from APAC. This will boost the growth of the company and, also, its adhesive tapes business, globally.
The second most active company in the market is tesa SE (Germany). It operates through two business segments: Direct Industries and Trade Markets. The Direct Industries segment caters to various end-use industries such as automotive, electronics (mobile phones and laptops), paper & printing, and building & construction. The Trade Markets segment is further divided into two segments: General Industrial Markets (adhesive solutions for packaging and tapes required during transportation, assembling, and repairing products) and Consumer & Craftsmen (product solutions required for daily use in homes, offices, and crafts). The company has planned to adopt organic and inorganic strategies such as new product launch, investment & expansion, and merger & acquisition in the future, which will surely increase its presence and revenue globally. In January 2019, tesa SE introduced six new aluminum foil tapes which are available with and without liners. The products include tesa 50525, tesa 50565, and tesa 50575. These tapes are used in appliances, including refrigerators to seal liners of freezers for better heat transfer.
Related Reports:
Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Technology (Solvent, Hot-melt, Water-based), Backing Material (PP, Paper, PVC), End-Use Industry (Packaging, Healthcare, E&E, Automotive) and Region - Global Forecast to 2026
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