PVC Adhesive Tape Market - Forecasts from 2024 to 2029

PVC Adhesive Tape Market - Forecasts from 2024 to 2029

The PVC adhesive tape market is predicted to grow at a CAGR of 2.43% to reach a market valuation of US$3.178 billion by 2029, from US$2.687 billion in 2022.

PVC adhesive tape finds usage in both, indoor & outdoor applications owing to their pressure-resistance, flame, and temperature-resistance properties owing to which they provide insulation & sealing against dust, moisture, vibration, and impact. The growing industrial productivity has bolstered the concern of preventing electrical short circuits that could lead to a series of workplace accidents, which is positively driving the demand for PVC adhesive tapes wrapping and insulating the electric cables. Additionally, various innovations and advancements in solvent-based and hot-melt-based tapes to meet the diverse needs of consumers have further augmented the overall market growth.

Rapid urbanization and improvement in living standards have bolstered the demand for various consumer goods, mainly automotive which has resulted in progression in the global automotive production scale. For instance, according to the International Organization of Motor Vehicle Manufacturers, the global automotive production scale in 2022 reached 85.06 million units, thereby representing a 6% increase over 2021’s production volume of 80.20 million units. PVC adhesive tape is used during assembling, fixing, and bonding of various electrical parts of automotive, and with the growing production volume, the prevalence of usage of such tape is also expected to increase thereby bolstering the overall market demand.

MARKET DRIVERS:

Rising use in the electrical industry drives the PVC adhesive tapes market.

PVC tape, commonly referred to as electrical tape, finds widespread use in the electrical industry for insulating and safeguarding against outdoor risks. This versatile tape serves as a protective layer, shielding electrical components from environmental elements and ensuring safety during installation and maintenance. Its recognition as a crucial component in electrical applications propels the demand for PVC adhesive tape within the market. The reliance on PVC tape for insulation and protection underscores its indispensability in electrical operations, thus driving the growth of the PVC adhesive tape market.
Increasing use of PVC Adhesive in the construction industry propels the market.

PVC adhesive tape also finds applicability in other major end-users, such as in the construction sector, for providing electrical insulation, and as the global population increases, the demand for residential units has also increased, thereby bolstering residential construction in major economies.

For instance, according to the US Census, in December 2023, privately owned housing starts stood at 1,460,000 units which signified a 7.6% increase over housing starts in 2022 for the same month. Moreover, the same source stated that in the same month, building permits were authorized for 1,495,000 privately owned housing, which signified a 6.1% increase over permits authorized in December 2022.

Moreover, advancements in adhesive technology, such as the development of eco-friendly and high-performance formulations, further propel market growth. Additionally, the trend towards lightweight materials and the need for efficient bonding solutions contribute to the expanding PVC adhesive market.

The market is projected to grow in the North American region.

The PVC adhesive tape market is projected to rise at a moderate growth rate. The industry is expected to be affected by changing environmental, and governmental regulations which are anticipated to challenge market growth as well. In addition, the increasing advancements, and market developments including product launches, collaborations, agreements, acquisitions, and other related factors. The market is poised to be dependent on certain industries.

The PVC adhesive market is experiencing growth primarily due to increasing demand across various industries such as construction, automotive, packaging, and electronics. PVC adhesives offer numerous advantages, including strong bonding capabilities, resistance to environmental factors, and versatility in applications. With rising construction activities, expansion of the automotive sector, and growing packaging requirements driven by e-commerce, the demand for PVC adhesives continues to surge.

Key Players:

The PVC tape market is fiercely competitive, with several prominent players holding sway in the industry. Among them are:

3M: A multinational conglomerate renowned for its diverse product portfolio, which includes PVC tapes. Leveraging a history of innovation and market dominance, 3M has maintained a robust presence across various sectors, ensuring consistent growth in the PVC tape market. Its PVC tape sales revenue is estimated to be in the billions of dollars.
Tesa SE: A key player in the adhesive tape sector, Tesa SE has established itself as a leading manufacturer of PVC tapes. With origins tracing back to 1890, the company has emerged as a major force in the global tape market, driven by a commitment to product excellence and customer-centric practices. Its PVC tape sales revenue is estimated at approximately $700 million.
Nitto Denko: A Japanese multinational renowned for its adhesive tape offerings, including PVC tapes. With a robust global footprint, Nitto Denko has enjoyed consistent growth in the PVC tape market. Renowned for its production of top-notch tapes, the company boasts a sales revenue of around $900 million in the PVC tape segment.

Key Market Developments:

In October 2023, Tesa SE established its new adhesive manufacturing facility in Haiphong, Vietnam, which came as a part of the company’s strategic move to regionalize its adhesive tape production.
In March 2022, Shijiazhuang Liantu introduced a new product, PVC Dry Tape (PVC Electrostatic Film). This innovative tape is both non-adhesive and self-adhesive, featuring a smooth surface that is not tacky to the touch. Despite its surface lacking the stickiness of pressure-sensitive tape, it boasts an unwinding force of up to 1.5N/C. This addresses the issue of commonly used air-conditioning strapping tape easily detaching during construction activities in the country. Consequently, it has emerged as a novel generation of air-conditioning strapping tape, offering convenient installation, safety, environmental friendliness, and dependable quality.

Segmentation:

By Coating Technology:

Solvent-Based
Hot-Melt Based
Water-Based
Others
By End-User Industry:

Consumer Electronics
Travel and Transportation/Logistics
Healthcare
Retail
Construction
Automotive
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others