ADHESIVE TAPES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 

Adhesive Tapes Market Analysis:

The Global Adhesives Tapes Market is projected to attain a total volume of 52,037.75 million square meters by the conclusion of the current year, with an anticipated Compound Annual Growth Rate (CAGR) of over 4% during the forecast period.

The COVID-19 pandemic has had a significant impact on the value chains within the adhesive tapes market. The disruptions in the supply chain and reduced demand from end-user industries have adversely affected the market. However, the market demand has shown signs of recovery in 2021 and is expected to grow substantially in the years to come.

In the short term, the rapid growth in demand from the packaging industry and the continued use of adhesive tapes in electric and hybrid vehicles are significant factors driving the market’s growth. However, the volatility in the prices of raw materials is a crucial factor that is expected to restrain the growth of the target industry during the forecast period.

Nevertheless, the development of the medical sector in emerging economies is likely to create lucrative growth opportunities for the global market in the near future. The Asia-Pacific region is expected to witness healthy growth in the adhesive tapes market over the assessment period, primarily due to the significant consumption from countries such as China and India.

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