Global double sided tape market was capitalized at USD 8.82 Billion in 2017 and is estimated to attain USD 14.8 Billion by 2025, progressing at a CAGR of 7.01% during the forecasted period.
According to ZMR forecast, the global double sided tape market will reach USD 14.8 billion in valuation by 2025. The market reached a valuation of USD 8.82 billion in 2017, and thanks to rising stay at home orders globally, the market is expected to accelerate with a CAGR of 7.01% during the forecast period.
The current on-going global pandemic has led to tremendous growth for the e-commerce sector. For example, according to digital media reports, the traffic for e-commerce website went up by 30% during the covid-19 pandemic. Moreover, the recent lockdowns has also forced new, and innovative uses of double sided tape at home. The rising shift towards stay-at-home hobbies, and incredible growth of the e-commerce sector will likely drive major growth for the double sided tape market during the 2018-2025 period.
The e-commerce market will likely continue its robust growth trajectory during the forecast period. The recent crisis in small, and medium sized businesses, and inability of many to survive such long crisis will lead to major gains for e-commerce firms worldwide. This is apparent in countries like the US, wherein according to Washington post reports that over 100,000 have shut shop for good.
The double sided tape is widely used in the e-commerce sector for packaging, and delivery needs. The slowdown in the constructions sector will present a new challenge for the double sided tape market in near future. However, investors can mitigate these challenges with investment in infrastructure. Many major economies like India, US, and China have announced major infrastructure initiatives in near future. Indian finance minister has announced a package of 102 lakh crore rupees over the next four years to boost infrastructure development in India. Similarly, China has announced major initiatives related to its signature Belt & Road initiative. The reduction in private spending will likely be offset by major spending in infrastructure from the government in the next five years.
The double sided tape market report will be segmented on the basis of resin type into silicone, acrylic, and rubber. Among these, thanks to growing infrastructure, and packaging activities, the silicone, and rubber resin type will witness major growth. Moreover, thanks to growing interest in appealing packaging for goods like organics, the acrylic segment will also witness considerable growth. Moreover, based on end-use, the report will feature paper & printing, automotive, construction & building sectors. Consider customizing the report for availing the report on e-commerce sector. The report will cover different segments on the basis of technology. These include solvent, water, and hot melt. Based on backing material, the report will provide analysis of foam, film materials, and paper.
The double sided tape market will cover all regions of the globe including North America, South America, Europe, Asia Pacific, and Middle East & Africa. Among these, the Asia Pacific will witness tremendous growth, thanks to rising infrastructure activity. Middle East & Africa will also witness considerable growth, apart from rising economies of Vietnam, Indonesia, and Malaysia. The rising manufacturing activity in Malaysia, and Vietnam, and shifting automotive production in these parts is worth looking out for.
???????Global Double Sided Tap Market: Competitive Analysis
The double sided tap market landscape exhibits a robust, and competitive landscape. Key players in this market include 3M Company, Lohmann GmbH & Co. Kg, Avery Dennison Corporation, Mactac, LLC, Scapa Group Plc.
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The double sided tape market reached USD 8.82 billion in valuation in 2017.
ZMR forecasts that the double sided tape market will grow at 7.01% during the 2018-2025 period.
ZMR projects that the double sided tape market will reach USD 14.8 billion in valuation in 2025.
Some key players in the double sided tape market are 3M Company, Lohmann GmbH & Co. Kg, Avery Dennison Corporation, Mactac, LLC, Scapa Group Plc.