The global structural adhesive tapes market size was USD 10.3 billion in 2022 and is projected to reach USD 13.0 billion by 2028, at a CAGR of 4.1% between 2023 and 2028. Growth in electrical & electronics, automotive, building & construction, and healthcare industries are propelling the development of the global structural adhesive tapes market in Asia Pacific.
The key players following the strategies between 2018 to 2022 3M Company (US), Avery Dennison Corporation (US), Nitto Denko Corporation (Japan), tesa SE (Germany), and Lintec Corporation (Japan). The companies are majorly following product launch, merger & acquisition, and expansion as the strategy to grow and expand the market.
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The 3M Company offers a broad range of products including adhesives, bonding materials, coatings, and specialty materials. The company operates through four business segments, namely, Safety & Industrial, Transportation & Electronics, Healthcare, and Consumer. The company has production sites in 65 countries around the world and offers products and solutions to customers in about 200 countries in the Americas, Asia Pacific, Europe, and the Middle East & Africa. In November 2018, 3M released a high-adhesion Durapore healthcare adhesive tape designed to provide safe, reliable, and critical tube securement in challenging conditions such as high-moisture environments.
Avery Dennison Corporation manufactures, markets, and sells pressure-sensitive materials, self-adhesive base materials, and self-adhesive consumer & office products. The company operates through two business segments, namely, Materials Group and Solutions Group. The company manufactures and sells adhesive tapes and other bonding solutions for industrial, medical, and retail applications through the Materials Group segment. The company operates in approximately 50 countries across the globe, with 180 manufacturing and distribution facilities. In February 2021, the company announced its agreement to buy JDC Solutions, Inc., a Tennessee-based pressure-sensitive structural adhesive tapes maker headquartered in the US, for around USD 24 million.
Structural Adhesive Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Backing Material, End-Use Industry (Automotive, Healthcare, Electronics & Electrical, Renewable Energy, E-Mobility, Building & Construction), & Region - Global Forecast to 2028
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