Report : South America 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 South America Double Sided Tape Market during 2021-2028
According to a new market research study on “South America 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$ 604.17 million by 2028 from US$ 538.19 million in 2021. The market is estimated to grow at a CAGR of 1.7% from 2020 to 2028. The report provides trends prevailing in the South America double-sided tape market along with the drivers and restraints pertaining to the market growth. Extensive applications of double-sided tape is one of the major factor driving the growth of the South America double sided tape market. However, the fluctuation in the costs of raw material may hinder the growth of South America double sided tape market.
In South America, Brazil 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 South American countries, i.e., Argentina, Colombia, Peru, Chile and Ecuador. However, South America 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 South America 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 South America double sided tape market. Based on backing material, the South America 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 healthcare segment held the largest share in South America double sided tape market. Furthermore, in this present scenario of COVID 19 pandemic, the South America double sided tape market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South American 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., Lintec Corporation, and Avery Dennison Corporation are some of the leading companies in the South America 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 South America Double Sided tape market as follows:South America Double Sided Tape Market – By Resin Type
- Health Care
- Building and Construction
- Consumer Goods
- Rest of South America
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