(I-BusinessNews.Com, June 29, 2021 ) The launch of eco-friendly tapes is a key trend in the adhesive tapes market. Several countries around the world have banned the use of toxic materials used in the manufacture of adhesive goods. Increased demand for recyclable tapes has been driven by federal policies as well as a change in end-user emphasis toward environmentally sustainable goods. Many companies are shifting from plastic to bio-degradable materials like paper and cellulose for manufacturing tapes. In January 2020, Monta, a German-based manufacturer of self-adhesive tapes for packaging and consumer use, has introduced Monta Biopack, a modern self-adhesive tape. Monta Biopack is made up of about 90% renewable materials. This environmentally friendly adhesive tape biodegrades in a matter of months, closing the natural recycle circle.
The adhesive tapes market consists of sales of adhesive tapes by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling the adhesive tapes. Adhesive tapes are a combination of a material and an adhesive layer that can be used to join two objects or materials together. It consists of a pressure-sensitive adhesive, which is coated onto a backing material like paper, plastic film, cloth, or metal foil and has removable release liners protecting the adhesive before usage.
Adhesive Tapes Market Report Segments:
1) By Resin Type: Acrylic, Rubber, Silicone, Others
2) By Material Type: Polypropylene (PP), Paper, Polyvinyl Chloride (PVC), Others
3) By Technology Type: Solvent-Based, Hot-Melt Based, Water-Based
4) By End-Use: Packaging, Consumer And Office, Healthcare, Automotive, Electrical And Electronics, Building And Construction, Others
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The global adhesive tapes market is expected to grow from $57.04 billion in 2020 to $61.01 billion in 2021 at a compound annual growth rate (CAGR) of 6.96%.The growth is mainly due to the increased demand for adhesive tapes from end-users like healthcare, electrical & electronics, and automotive industries. The adhesive tapes market is expected to reach $79.83 billion in 2025 at a CAGR of 7.0%.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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