The global double-sided tape market size was USD 11.6 billion in 2022 and is projected to reach USD 17.2 billion by 2028, at a CAGR of 6.7% between 2023 and 2028. The global double-sided tape market is growing at a high rate due to its wide acceptance in various industries such as automotive, electrical & electronics, building & construction, paper & printings, and others. The Asia Pacific accounted for the major share of the overall market in 2022. Huge demand from the Asia Pacific region is drives the double-sided tape market.
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The Asia Pacific region emerges as the leading market for double-sided tape, boasting both the highest value and volume. Projected as the fastest-growing sector, this dominance is fueled by escalating household incomes and a burgeoning middle-class populace. Despite global economic slowdowns, Asia Pacific retains its allure for double-sided tape manufacturers, especially given its extensive usage in construction, packaging, and footwear industries, driven by environmental and safety considerations.
The key players following the strategies between 2018 to 2022 3M (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), Lintec Corporation (Japan), Avery Dennison Corporation (US). The companies are majorly following product launch, merger & acquisition, and expansion as the strategy to grow and expand the market.
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The 3M offers various products, including adhesives, bonding materials, coatings, and specialty materials. The company operates through the Safety & Industrial, Transportation & Electronics, Healthcare, and Consumer business segments. Through the Electronics & Energy segment, 3M supplies PSA tapes, electrical insulation, and fiber optic and copper-based telecommunications systems to rapidly deploy fixed and wireless networks. The company has production sites in 65 countries worldwide. It offers products and solutions to customers in about 200 countries in the Americas, Asia Pacific, Europe, and the Middle East & Africa.
Nitto Denko Corporation manufactures and sells double-sided tape, optical films, semiconductor devices, and electronic and medical products. It operates through the Optronics, Industrial Tape, and Life Science segments. The Optronics segment provides LCD-related and other processing materials. The Industrial Tape segment provides bonding and joining products and engineering plastics. The Life Science segment provides adhesive tapes for use in the medical sector. Nitto Denko has a strong customer base and operates in Japan, the Americas, Europe, the Middle East & Africa, East Asia, and Southeast Asia & Oceania.
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