Double sided tapes are used in various applications such as automotive, paper and printing, electrical and electronics, construction, and more. Double sided tape is an adhesive tape that is coated on both the sides and is effective for sticking objects like paper, cardboard, arts, and crafts also.
The double sided tape market is estimated at USD 9.41 billion in 2018 and it is expected to reach USD 13.15 billion by 2023. With the growing demand for strong double sided tape, many industry leaders are manufacturing different types of adhesive tapes. Government all over the world is focusing on the implementation of various regulatory policies to increase the development of eco-friendly products. There have been many new players in the industry manufacturing different types and qualities of 3m double coated tape. With the rapid industrialization, we can expect an incredible growth of this market in the near future.
There are some factors that act as a hurdle in the growth of the double sided tape market. Some major factors are volatile raw materials costs and backing material costs. The cost of foam backing materials is increasing every now and then and it affects the double sided tape market. As most of the materials used are petroleum-based, they are considered to be volatile and expensive too.
Double coated tape market can be segmented based on different factors such as technology, resin type, raw materials used, and quality of products manufactured. Various types of resins like rubber, silicone, acrylic, and others are used for preparation of heavy duty double sided tape. Several technologies such as water-based, solvent-based or hot-melt can be used in manufacturing the adhesive tapes. Silicone-based adhesives can be used over a large temperature range and they are able to adhere to difficult surfaces also. They are quite expensive as compared to acrylic or rubber-based adhesive tapes.
The global double-sided tape market can further be classified according to the geographical regions. Asia Pacific is a leading supplier of adhesive tapes. Emerging countries like China and India have also been contributing greatly in this industry. The availability of cheap raw materials and the support from Government are the two major factors that contribute towards the rapid production of double sided tapes. Leading 3m double coated adhesive tape manufacturers are trying various tactics to manufacture the best quality tapes. Let's wait to see how this market grows in the coming years.
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