The adhesive tapes market is estimated to be $51.3 billion in 2017 and is projected to reach $69.4 billion by 2022, at a compound annual growth rate (CAGR) of 6.26% between 2017 and 2022, according to a report published by MarketsandMarkets. Over the past few years, the demand for silicone-based adhesive tapes has reportedly been increasing in various end-use industries.
The hot-melt technology segment is projected to witness the highest growth during the forecast period, while the paper segment is projected to grow at the highest CAGR from 2017 to 2022.
The adhesive tapes market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period, due to the rising demand for adhesive tapes from emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. China is reportedly leading the market for adhesive tapes in the Asia-Pacific region. The growth of various end-use industries, such as packaging, healthcare, electrical and electronics, building and construction, and automotive is projected to drive the demand for adhesive tapes in China