The global construction industry has grown tremendously over the last few years. This is attributed to increasing population, growing economies in emerging countries, increasing government investments in large-scale infrastructure projects such as railways and highways, and the rising number of public-private partnerships for infrastructure development. The growth in the construction industry stimulates the demand for adhesive tapes, which are used for sealing, bonding, and filling gaps in internal glazing and partition systems. They help in the permanent bonding of metal frames to glass in interior and exterior curtain wall systems. Thus, the growing construction industry will be a key factor for the growth of the adhesive tapes market during the forecast period.
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As per Technavio, the increased demand for eco-friendly products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Adhesive Tapes Market: Increased Demand for Eco-Friendly Products
The traditional raw materials that are used to manufacture tapes harm the soil and affect the ecological balance. Therefore, the preference for environment-friendly adhesive tapes is growing rapidly, particularly in developed countries such as the US, Canada, and Germany. These tapes help manufacturers reduce their carbon footprint. They are recyclable and biodegradable and made from recycled materials. These tapes do not contain hydrocarbons or solvents that harm the environment or the user. Thus, the increased demand for eco-friendly products will drive the growth of the market during the forecast period.
“Increased use of silicon adhesives in adhesive tapes and the increased adoption of sustainable product manufacturing by vendors will have a significant impact on the growth of the smart office solutions market value during the forecast period,” says a senior analyst at Technavio.
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Adhesive Tapes Market: Segmentation Analysis
This market research report segments the adhesive tapes market by materials (polypropylene, paper, polyvinyl chloride and others), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the adhesive tapes market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to rapid growth of end-user industries such as consumer durables, automotive, and construction in the region.
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Some of the key topics covered in the report include:
- Polyvinyl chloride
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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