Market Introduction
Europe comprises several economies such as Germany, France, the UK, and Italy. Europe is a well-established market for adhesive tapes due to numerous well-established end-use industries, such as automotive, healthcare, food & beverages, and consumer electronics. Adhesive tapes manufacturers are contributing to the market growth in Europe through their innovative products. A few of the major players operating in the Europe adhesive tape market are 3M, Nitto Denko Corporation, Tesa SE, Avery Dennison Corporation, Intertape Polymer Group, Berry Global Inc., Scapa, and Lohmann GmbH & Co.KG. According to the European Commission, the EU is among the biggest producers of motor vehicles across the world, and the sector represents the largest private investor in R&D. To enhance the competitiveness of the European automotive industry, the European Commission supports global technological harmonization and provides funding for R&D. The European automotive industry is considered the most technologically advanced and innovative industry across the world. As per the European Automobile Manufacturers Association, 18.5 million cars, trucks, vans, and buses are manufactured per year across the region. Therefore, the growing automotive industry in Europe propels the demand for adhesive tapes, which drives the growth of the adhesive tapes market in the region. Europe has a significant trade surplus in food, and Europe culinary specialties are well-liked across the world. The demand for packaging in Europe is derived from the high number of manufacturers in the food & beverage industry and its worldwide export market. Adhesive tapes are extensively used in the packaging industry. The adhesive tapes market in the region is expected to grow during the forecast period owing to the growing requirement for packaging in the food & beverage industry. With the increasing number of product orders, the packaging industry is expected to witness significant growth in the coming years.
Countries in Europe, especially the UK and Russia, are highly affected due to the COVID-19 outbreak. It is suffering an economic hit due to a lack of revenue from various industries, as the country recorded the highest number of COVID-19 cases, followed by France, Spain, Italy, and Germany. Other member states have implemented drastic measures and travel restrictions by partially closing their borders. This is impacting the growth of the adhesives market in Europe. To reduce the impact of the COVID-19 pandemic and empower the healthcare industry, the European Union has set budgets for various European countries, such as US$ 550 per capita in the UK, and approx. US$ 366 per capita in Germany and Ireland. It also applies to other European countries. Health-related initiatives include purchasing professional medical and personal protective equipment (PPE), expanding research capabilities, hiring additional staff and benefits, supporting hospitals and local governments, and donating vaccine production. With the economy on the mend, several industrial sectors and economies are making strategic investments in the healthcare sector. This is expected to accelerate the market growth in the coming years.
Market Overview and Dynamics
The Europe adhesive tapes market is expected to grow from US$ 12,781.91 million in 2021 to US$ 17,655.34 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The demand for electric vehicles is escalating across the region. The manufacturers of electric vehicles are focusing on increasing the battery capacities of their vehicles because of the inaccessibility of charging stations for these vehicles in remote areas. Adhesive tapes are increasingly used in electric vehicle components such as batteries, capacitors, and parking sensors. The use of adhesive tapes in electric vehicles is growing owing to several requirements, such as replacing conventional substrates with synthetic substrates, increasing focus on environmental affairs, and bonding of dissimilar and similar materials. Adhesive tapes also address these concerns in prospect to engineering since they are considered to resist vibration and allow the distribution of stress over an extensive area. Hence, the rising adoption of electric vehicles is expected to emerge as a beneficial trend for the growth of the Europe adhesive tapes market in the coming years.
Key Market Segments
In terms of resin type, the rubber segment accounted for the largest share of the Europe adhesive tapes market in 2020. In terms of technology, the solvent-based adhesive tapes segment held a larger market share of the Europe adhesive tapes market in 2020. In terms of tape backing material, the polypropylene (PP) segment held a larger market share of the Europe adhesive tapes market in 2020. Further, the automotive segment held a larger share of the Europe adhesive tapes market based on application in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe adhesive tapes market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 3M, Avery Dennison Corporation, Berry Global Inc., Intertape Polymer Group, LINTEC Corporation, Lohmann GmbH & Co.KG, Nitto Denko Corporation, Rogers Corporation, Scapa, and tesa SE.
Reasons to buy report
Europe Adhesive Tapes Market Segmentation
Europe Adhesive Tapes Market - By Resin Type
Europe Adhesive Tapes Market - By Technology
Europe Adhesive Tapes Market - By Tape Backing Material
Europe Adhesive Tapes Market - By Application
Europe Adhesive Tapes Market - By Country
Europe Adhesive Tapes Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 12,781.91 Million |
| Market Size by 2028 | US$ 17,655.34 Million |
| CAGR (2021 - 2028) | 4.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Resin Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Adhesive Tapes Market is valued at US$ 12,781.91 Million in 2021, it is projected to reach US$ 17,655.34 Million by 2028.
As per our report Europe Adhesive Tapes Market, the market size is valued at US$ 12,781.91 Million in 2021, projecting it to reach US$ 17,655.34 Million by 2028. This translates to a CAGR of approximately 4.7% during the forecast period.
The Europe Adhesive Tapes Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Adhesive Tapes Market report:
The Europe Adhesive Tapes Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Adhesive Tapes Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Adhesive Tapes Market value chain can benefit from the information contained in a comprehensive market report.
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