Global Adhesives Tapes Market is estimated to reach USD 77.62 Billion by 2027 aPosted by Manik on February 17th, 2020 Adhesive Tapes Market: SummaryThe Global Adhesives Tapes Market is estimated to reach USD 77.62 Billion by 2027 at a CAGR of 4.3%, predicts forencis research (FSR). Adhesives tapes can be stated as the adhesive coated fastening taper designed specially to join or adhere two objects together. Adhesives tapes are more preferred options as these are easy to use, and acts a substitute to the conventional fasteners, glue or other method of bonding objects together. Adhesives tapes offers better adhesion with cost effective solution, which finds application across industrial domains. Adhesives Tapes Market: Drivers & Restraints Market Drivers: Soaring Demand from Packaging Sector The packaging sector is witnessing upward growth, owing to betterment in shipping methods along with higher adoption of the flexible packaging options. Adhesives tapes in packaging is gaining higher importance owing to its use in sealing the heavy duty goods, which requires higher protection from the external barriers. Increasing usage of adhesives tapes in transportation of perishable goods, temperature and pressure sensitive goods to offer more efficient transit, is further escalating the demand for adhesive tapes. Ongoing demand of the varied adhesive solutions that provides higher protection from the leakage and seeping of the solid goods or fluids, is also increasing the market growth. Growing Automotive and Construction Sector Adhesive tapes are used widely in the vehicles to promote adhesion in engine compartment, electrical components, monitor, automotive interior and exterior. In construction, adhesive tapes are used for protecting the joints, sealing application, fixing the flooring material, and for varied purpose in interior and exterior of the building. Growing construction and automotive sector across the globe is pushing the demand for adhesive tapes. Rise in global population, increase in disposable income, higher demand for residential apartment along with betterment in living standard is expected to fuel market growth. Market Restraints: Regulation Imposed on the Adhesive Tapes The adhesive tapes market growth in mainly hampered owing to the regulation imposed by the regulatory authorities. Restriction related to the use of the chemicals such as toluene, formaldehyde, Di-2-ethylhexyl phthalate owing to health hazards associated with these chemicals impacts the overall tape related business. To avoid this regulation has been imposed by the regulatory bodies. Increasing count of the countries adopting stricter regulation is hindering the market growth. Adhesives Tapes Market: Key Segments
Key Companies Covered
Adhesives Tapes Market: Report Segmentation For the scope of the report, In-depth segmentation is offered by Forencis Research Adhesives Tapes Market, by Type
Adhesives Tapes Market, by Resin
Adhesives Tapes Market, by Application
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