Report : Asia Pacific Double Sided Tape Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Resin Type (Acrylic, Rubber, Silicone, and Others), Backing Material (Foam, Film, Paper, and Others), End-Use (Health Care, Building and Construction, Automotive, Consumer Goods, and Others)
Silicone Segment to Dominate Asia Pacific Double Sided Tape Market during 2021-2028
According to a new market research study on “Asia Pacific Double Sided Tape Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Resin Type, Backing Material, End-Use, and Country,” is expected to reach US$ 7,717.38 million by 2028 from US$ 5,067.96 million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2020 to 2028. The report provides trends prevailing in the Asia Pacific double-sided tape market along with the drivers and restraints pertaining to the market growth. Wide application scope of double-sided tape and rise in demand for double sided tapes in Asia Pacific are major factors driving the growth of the Asia Pacific double sided tape market. However, exaggeration in the prices of raw materials may hinder the growth of Asia Pacific double sided tape market.
In Asia Pacific, India has witnessed an unprecedented rise in number of COVID-19 cases, which has led to the discontinuation of double sided tape manufacturing activities. Other chemical and materials manufacturing sector has subsequently impacted the demand for double sided tape during the early months of 2020. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China and Australia. However, Asia Pacific is likely to overcome the ill-effects of the COVID-19 pandemic, and economic activities are regaining their pace gradually since the beginning of 2021.
The market for Asia Pacific double sided tape is segmented into resin type, backing material, end-use and country. Based on resin type, the market is segmented into acrylic, rubber, silicone, and others. In 2020, the silicone segment held the largest share in Asia Pacific double sided tape market. Based on backing material, the Asia Pacific double sided tape is bifurcated into foam, film, paper, and others. The form segment is expected to be the fastest growing segment over the forecast period. Based on end-use, the market is segmented into health care, building and construction, automotive, consumer goods and others. In 2020, the consumer goods segment held the largest share in Asia Pacific double sided tape market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific double sided tape market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for double sided tape.
3M, Nitto Denko Corporation, Tesa SE, Intertape Polymer Group, Shurtape Technologies, LLC, Scapa, Guangzhou Broadya Adhesive Products Co., Ltd., Lohmann GmbH & Co.KG, Lintec Corporation, Avery Dennison Corporation are some of the leading companies in the Asia Pacific double sided tape market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The report segments the Asia Pacific Double Sided Tape market as follows:Asia Pacific Double Sided Tape Market – By Resin Type
- Health Care
- Building and Construction
- Consumer Goods
- South Korea
- Rest of Asia Pacific