Mergers & Acquisitions and New Product Launches were the Key Growth Strategies Adopted by Leading Players in the Non Woven Tape Market Between January 2016 and May 2018.
The non woven tape market is estimated at USD 3.17 billion in 2018 and is projected to reach USD 4.55 billion by 2023, at a CAGR of 7.46% between 2018 and 2023. Non woven tapes have nonwoven fabrics as backing materials such as polyester and paper which are coated, either single-sided or double-sided, with an adhesive. Non woven tapes are the most versatile, easy to process, highly permeable, and highly absorbent. They offer comfort to the skin, and hence are used for several applications in the medical dressing, electrical & electronics, and automotive & transportation industries. The main adhesives used in non woven tapes are acrylic, rubber, and silicone, with acrylic type holding the major market share. The market is witnessing significant growth, with fast-growing demand from the APAC and South American regions, especially from China, India, and Brazil, owing to the rising demand for automobiles, increasing healthcare expenditure, and increasing production of electronic devices.
Mergers & acquisitions and new product launches were the key growth strategies adopted by leading players in the non woven tape market between January 2016 and May 2018. Companies operating in the non woven tape market are focused on different organic and inorganic growth strategies to expand their presence and increase their market shares, globally. Leading manufacturers of non woven tapes include 3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), LINTEC Corporation (Japan), PAUL HARTMANN (Germany), Avery Dennison Corporation (US), Nichiban Co., Ltd. (Japan), and Scapa Group Plc (UK).
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Avery Dennison, LINTEC, 3M, and Nitto Denko are the key players in the non woven tape market. These companies accounted for a major share of all developmental strategies that took place in between January 2016 and May 2018. Avery Dennison and Nitto Denko have adopted inorganic growth strategies to enhance their geographic reach in the non woven tape market. For instance, June 2017, Avery Dennison acquired Yongle Tape Company Ltd. (China), a manufacturer of specialty tapes and related products in a variety of industrial markets, from its management and private equity firm ShawKwei & Partners. Yongle Tape will operate under the industrial and healthcare materials business segment of the company. With this acquisition, the company will expand its product portfolio in adhesive tapes for automotive OEMs. Similarly, in July 2016, Nitto Denko merged three subsidiaries, namely, Nitoms Inc., Nitto Medical Corporation, and Nitto Lifted Corporation within the Nitto Group. With this merger, the company plans to reinforce a framework to offer new value to the market.
3M is another key player that has established a strong foothold in this market. The company concentrates on expanding its customer base through new product launch. For instance, in August 2017, 3M launched 4,076 acrylic-based nonwoven adhesive tape. These tapes offer long-term wear on skin and enable engineers to solve tough medical device design challenges.
LINTEC has adopted inorganic growth strategies to enhance its geographic reach in the nonwoven adhesives tapes market. For instance, in December 2016, LINTEC acquired MACtac (US) for USD 375 million due to its long-standing delivery record, strong brand power, excellent relations, and an impressive sales network with more than 1,000 quality customer companies in the North American market.
Related Reports:
Non-woven Tape Market by Adhesive Type (Acrylic, Rubber, Silicone), Backing Material (Polyester, Paper), End-use industry (Medical & hygiene, Electrical & electronics, Automotive & transportation), and Region - Global Forecast to 2023
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