Hot Melt Adhesive Tapes Market worth $21.7 billion by 2024

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Hot Melt Adhesive Tapes Market worth 21.7
billion by 2024
The report "Hot Melt Adhesive Tapes Market by
Adhesive Resin (Rubber, Silicone), Backing
Material (PP, Polyester), Product Type
(Commodity, Specialty), Application (Packaging,
Consumer DIY, Masking, Healthcare Hygiene)
and Region - Global Forecast to 2024" The market
size of hot melt adhesive tapes is projected to
grow from USD 15.5 billion in 2019 to USD 21.7
billion by 2024, at a CAGR of 7.0, during the
forecast period.
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Introduction
The global hot melt adhesive tapes market is
witnessing high growth on account of increasing
applications, technological advancements, and
growing demand in the APAC region. Growing
packaging market in emerging economies is a key
factor providing growth opportunities to the
market. The market is witnessing a high growth
due to the growing use of hot melt adhesive tapes
in diverse applications. The increasing adoption
of hot melt adhesive technology is also leading
to the growth of the market.
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Key Participants
The 3M Company (US), Nitto Denko Corporation
(Japan), tesa SE (Germany), Avery Dennison
Corporation (US), Intertape Polymer Group Inc.
(Canada), Shurtape Technologies, LLC (US), Scapa
Group plc (UK), LINTEC Corporation (Japan), ACHEM
Technology Corporation (Taiwan), TE Connectivity
Ltd (Switzerland) are some of the players
operating in the global market.
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On The Basis Of Region
APAC is expected to be the largest and
fastest-growing hot melt adhesive tapes market.
The demand for hot melt adhesive tapes has
increased in other APAC countries, such as South
Korea, Singapore, India, and Indonesia, as the
application activities in these countries have
risen. China has been the driving force for the
rapid expansion of the adhesive tapes market, not
only in APAC, but also worldwide. In several
countries, the factors affecting the packaging,
which is a major application of hot melt adhesive
tapes, are the increasing level of disposable
income and population growth. These factors are
positively influencing the hot melt adhesive
tapes market growth.
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