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Water-Based Adhesive Specialty Tapes Market Size and Growth Forecast to 2030

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Globally, the Asia-Pacific water-based adhesives specialty tapes market generated the highest revenue in 2020, and it is expected to continue this trend throughout the forecast period.

NEW YORK - eTradeWire -- A number of factors such as the booming automotive sector, surging public awareness about the advantages of such tapes, burgeoning demand for medical products, and rapid technological advancements in the healthcare industry, are expected to drive the water-based adhesive specialty tapes market at a CAGR of 6.5% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $5,093.2 million in 2020 and it will generate $9,514.9 million revenue by 2030.

The expanding automotive industry is driving the demand for water-based adhesive specialty tapes worldwide. According to the International Organization of Motor Vehicle Manufacturers (OICA), 77,621,582 vehicles were manufactured and 77,971,234 vehicles were sold globally in 2020. In addition, rapid technological developments in the automobile sector and the introduction of new vehicles are also fueling the demand for water-based adhesive specialty tapes. The automotive industry uses water-based adhesive specialty tapes as double-sided tapes, foam tapes, and protection tapes because they are easy to fix and remove.

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Besides, the escalating demand for medical products will also support the water-based adhesive specialty tapes market growth globally. These tapes are used as waterproof tapes and surgical tapes for covering wounds and incisions, as they have antigenic properties and can hold tightly onto the bandage, dressing material, or skin. Additionally, the surging inflow of investments in the healthcare sector is also a key contributor to the market growth.

The resin type segment of the water-based adhesive specialty tapes market (https://www.psmarketresearch.com/market-analysis/water-based-adhesive-specialty-tapes-market) is classified into vinyl acetate ethylene (VAE) emulsion, styrene butadiene (SB) latex, polyurethane dispersion (PUD), polyvinyl acetate (PVA) emulsion, acrylic polymer emulsion (APE), and others. In 2020, the PVA emulsion category accounted for the largest market share due to the high initial tack, low cost, and good biodegradation resistance of such resins. PVA emulsion adhesives produce hard and clear films that can withstand water, oil, grease, and petroleum fuels and are resistant to weather conditions.

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Therefore, the prospering automotive industry and soaring demand for healthcare products are prominent growth drivers of the market.

Vijay Kumar

Source: P&S Intelligence
Filed Under: Business

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