New York, NY -- (SBWIRE) -- 08/14/2018 -- The historical backdrop of stickiness didn't really begin with tape. It's really credited to the honey bees. Or on the other hand rather, carpenters in old Egypt who utilized glue produced from natural, thick substances like resin and beeswax to hold materials together. In present day times before tape, epoxies and glue did the greater part of the sticky work. But, they had genuine downsides, particularly in household use. Permanence, drying to a hard finish and messiness all made customary glues not so perfect. However, it wasn't until the point when in 1925 that adhesive tape was designed. Adhesive tape can be defined as a continuous flexible strip made of paper, metal foil, cloth, or plastic film coated with a thin layer of permanent glutinous adhesive on one or both sides.

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According to a research report by P&S Intelligence, the global adhesive tape market is projected to reach $74.9 billion by 2023. The market is expected to grow at a CAGR of 5.5% during 2018-2023. The growth in the market for adhesive tape is attributed to the expanding automotive industry, increasing demand from the healthcare industry, growth in the packaging industry and enhanced benefits of adhesive tapes as compared to the traditional ones.

Adhesive tapes find wide application in the automotive industry; they are mainly used in the form of double-sided tapes, protection tapes, and foam tapes, which are easy to fix and remove. According to the International Organization of Motor Vehicle Manufacturers (OICA), the production and market of automobiles have increased considerably in 2017, as compared to 2016, as shown in the graph below. Developments in automotive technology and introduction of new automobiles, such smart cars and aluminum trucks, are expected to drive the demand for adhesive tapes, globally, in the coming years.

Geographically, North America was the second largest adhesive tapes market in 2017, with a market share of 29.5%. The market in the region is mainly driven by a significant demand for adhesive tapes from the packaging and healthcare industries in the region.

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In addition, the North American building and construction industry is anticipated to witness significant growth during the forecast period, on account of the high priority given to infrastructural development by U.S. President Donald Trump. This is also expected to positively influence the growth of the related industries in the country.

3M Company, Nitto Denko Corporation, tesa SE, and LINTEC Corporation are among the leading companies in the global adhesive tape market. However, other important players in the market also enjoy considerable presence across the globe. Five out of the ten companies have presence in more than 30 countries, across the world. Besides, majority of the companies have more than 10 manufacturing facilities for different product offerings, which enable them to effectively and efficiently meet the increasing market demand. Additionally, most of the companies have a strong employee base to provide satisfactory services to their customers around the globe.

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