The adhesive tapes market is projected to grow from $51.25 billion in 2017 to $69.42 billion by 2022, at a compound annual growth rate (CAGR) of 6.26% between 2017 and 2022, according to a report from Research and Markets.
The rising demand for adhesive tapes across various applications, such as packaging, healthcare, electrical and electronics, building and construction, white goods, and paper and printing, is expected to drive the growth of the adhesive tapes market, according to the report. Increasing environmental concerns and growing regulatory policies have reportedly propelled manufacturers of adhesive tapes to focus on the development of eco-friendly products. Volatile raw materials prices are acting as a restraint to the growth of the adhesives tapes market.
Asia-Pacific is reportedly the fastest-growing market for adhesive tapes. The economic growth of emerging countries, such as China, India, Taiwan, Indonesia, Vietnam, and Malaysia, is projected to drive the demand for adhesive tapes in the Asia-Pacific region, and China is projected to lead the adhesive tapes market in the Asia-Pacific region.
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