Market Trends of Double-sided Tape Industry
This section covers the major market trends shaping the Double-sided Tape Market according to our research experts:
Growing Demand for Indoor and Outdoor Building Applications
- The demand for double-sided tapes has been increasing. It is used for decorating, mounting posters and heavy paintings on walls, clocks, for sticking pieces of wood together, and sound dampening in interiors.
- Double-sided tapes are used on floor surfaces because of having an outstanding shear resistance. These are used for floor carpet, in order to ensure that carpets stay in place.
- The demand for carpet has been rising from colder regions, such as North America, Canada, European countries, and other Asian regions, because of its insulation properties.
- Rising technologies in the construction sector, to control the inner room temperatures and growing environmental changes, are the primary reasons to increase the demand for carpets.
- In construction applications, double-sided tapes are used for corrosion resistance in material damages and keep the material surfaces smooth and clean, along with providing sealing function protection against environmental elements. Due to these properties, the construction industry has been increasingly using it for outdoor and indoor applications.
- Double-sided tapes can also be used on different building surfaces, such as metal, glass, paper, stainless steel, polycarbonate, to attach one to one or other materials.
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Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to dominate the global market, owing to the highly developed construction sector in China, coupled with the continuous investments done in the region, to develop the architectural sector in recent years.
- The growing construction industry, due to population increase and rise in middle-class incomes in Asia-Pacific, has supported the demand for architectural structures in recent times. The residential construction sector in China, India, and Singapore has witnessed considerable growth since the past few years.
- According to Singapore's Ministry of Trade and Industry (MTI), the construction industry witnessed a 2.5% growth in 2019, as compared to the previous year. Such factors are increasing the usage of double-sided tapes in Asia-Pacific.
- The demand for double-sided tape is increasing from the largest markets of Asia-Pacific, such as the automotive and electronics sectors.
- Recently, manufacturers have started using double-sided tapes in motherboards, cameras, internal parts, and dashboards in cars at a higher rate.
- Moreover, the growing demand for high strength tapes in these sectors is significant, because of their adhesive properties, such as insulation, indoor designing, signage, in-mobile cameras, medical purposes, in-home appliances, and bonding heavy objects. Therefore, these properties are expected to drive the market for double-sided tape in Asia-Pacific, in the future.
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