TMR_Research_Reports_2017 Adhesive Tapes Market to reach US$92.36 bn by 2024 | Page 3

Adhesive Tapes Market
the several performance benefits of these tapes over conventional organic adhesives. These advantages include resistance to chemicals, low surface energy, better performance at extreme temperatures, and resistance to UV radiations and chemicals.
From a geographical perspective, the market for adhesive tapes in Asia Pacific accounted for a massive 48 % of the global market, more than the share of North America and Europe markets combined in the same year. The region is expected to retain dominance over the next few years as well, benefiting from the booming manufacturing, automotive, and industrial sectors in countries such as India and China.
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Healthy Demand from Automotive Industry Key to Growth The rising global demand for the development of lighter vehicles as a way of gaining excellent fuel efficiency has led to the increased replacement of metal parts such as bolts, screws, and rivets with strong adhesive tapes. This trend has played a key role in the increased consumption of adhesive tapes across the automotive industry in the past few years and is expected to remain a key driving force for the global adhesive tapes market in the years to come as well. The trend of miniaturization in the field of electronic devices is also expected to emerge as a key driving force for the global adhesive tapes market in the next few years. Regulations banning use of Restricted Chemicals to Restrain Growth Prospects The growth prospects of the global adhesive tapes market are expected to be restricted to a certain extent owing to the stringent regulations that ban the use of certain varieties of restricted chemicals such as volatile organic compounds. Such restrictions are mostly affecting the overall global demand especially for the product variety of conventional pressure-sensitive adhesive tapes. Such tapes find extensive usage across manufacturing and product design sectors and are one of the most popular product varieties of present times. Limitations on the use of these tapes could lead to significant loss in revenue for companies associated with these product varieties.
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