Hot Melt Adhesive Tapes Market – Overview:
The hot melt adhesive tapes market is expected to expand at healthy CAGR during the forecast period. This growth is attributed to the growing sealing applications in the transport & logistics industry. Properties such as high peel strength and good insulation to drive the market of hot melt adhesive tapes during 2019-29.
Emerging economies of Asia Pacific to account for significant share in the hot melt adhesive tapes market during the forecast period. China and India accounts for more than half of the total Asia Pacific hot melt adhesive tapes market. The growth is also attributed to the emerging transport & logistic industry in the region. According to the World Bank Logistic Performance Index, China holds 27th rank. Furthermore China represents new trade gateways between South America & Africa that would enhance the global logistics supply chain which will benefit the hot melt adhesive tapes market in the near future. Latin America to have positive potential in the hot melt adhesive tapes market during the forecast period.
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Increased Penetration of Hot Melt Adhesive Tapes in Logistics Industry to Proliferate the Market Growth
Hot melt adhesive tapes are made by either rubber or silicone resin. Moreover, packaging manufacturers nowadays are using bioplastic materials like PHA, PLA, etc. for manufacturing hot melt self-adhesive tapes. Also, bioplastic materials used for hot melt self-adhesive tapes provide better tensile strength and also the ability for printing on it, therefore driving the market. Hot melt adhesive tapes supports clean package appearance and improves display of graphics & logos printed on cartons & boxes therefore driving the market. Moreover, increased focus towards the display graphics over the carton boxes are escalating the hot melt adhesive tapes during the forecast period. All these factors contribute in driving the hot melt adhesive tapes market.
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Hot Melt Adhesive Tapes Market – Competitive Landscape:
Some of the global key players in the hot melt adhesive tapes market are as follows:
- Avery Dennison Corporation
- Intertape Polymer Group Inc.
- The 3M Company
- Shurtape Technologies, LLC
- Irplast S.p.A.
- Mario Tapes
- Hira Industries L.L.C
- Scapa Group plc
- LINTEC Corporation
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Hot Melt Adhesive Tapes Market – Key Developments:
Tier 1 and 2 companies in the hot melt adhesive tapes market are focusing towards product portfolio expansion and expanding their footprint in global market. While Tier 3 companies in the hot melt adhesive tapes market are focusing towards serving high quality product and this section constitutes of unorganized players in the market. Some of the recent developments in the hot melt adhesive tapes market are as follows: