The global market for adhesive tapes is projected to grow at a CAGR of more than 6.5% from 2019-2027, according to a report from Transparency Market Research, reaching a value of $111 billion by the end of the forecast period. The market’s growth is partly the result of the growing use of tapes in industries like automotive and electronics.

In terms of volume, the automotive segment accounted for the major share of the global adhesive tapes market in 2018. Automotive industry applications such as the placement of dashboards, insulating electric wires, and holding slots for connectors in the vehicles, are expected to make this the fastest-growing segment in the global adhesive tapes market from 2019-2027.

The electronic industry is also a major contributor to the growth of global adhesive tapes market. The industry uses tapes in forms of insulators and collectors for the electronic components to be used in a device. The flexibility offered by tapes also plays a crucial role in fueling their use in electronic devices.

Acrylic-based adhesive tapes are widely used, especially in electrical and automotive applications, due to their higher bonding strength to plastics and metals. Silicone-based adhesive tapes are expected to grow at a decent pace over the forecast period. Silicone rubber offers excellent resistance to extreme high and low temperatures.

Regionally, Asia-Pacific led the global adhesive tapes market in 2018, followed by Europe and North America. Demand for adhesive tapes in the Asia-Pacific region is driven by recent technological advancements and easy availability of raw materials. Rising demand for adhesive tapes in countries such as Brazil, Mexico, and Argentina is expected to boost the adhesive tapes market in Latin America. Demand for adhesive tapes in Middle East & Africa is driven by the emerging industrial and consumer products segments.

North America and Europe are mature markets for adhesive tapes. The U.S. and Italy are among the key producers of adhesive tapes.

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