Adhesive Tapes Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to adhesive tapes market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Adhesive Tapes Market News

in Adhesive Tapes Market
  • In March 2024, 3M India Limited entered into multiple agreements with its U.S. affiliates to strengthen its healthcare business. These agreements include licensed manufacturing, distribution, and sales agent arrangements, enabling 3M India to produce and sell healthcare products under license, with a royalty structure in place. This strategic move aims to enhance 3M's presence in India's healthcare sector by leveraging local manufacturing and distribution capabilities.
  • In March 2024, 3M Company, and 3M Innovative Properties Company entered into an Intellectual Property Cross-License Agreement with 3M Healthcare US Opco LLC and Solventum Intellectual Properties Company. This agreement facilitates the sharing of intellectual property rights between the entities, supporting the spin-off of 3M's healthcare business into a standalone company. It ensures continued collaboration and access to essential healthcare technologies.
  • In January 2024, Ineos and ExxonMobil entered a joint venture to focus on expanding the production of isopropyl alcohol (IPA) and other essential chemicals. The joint venture will enhance the companies' ability to meet global demand, especially in sectors like personal care, medical, and industrial applications. Both companies will invest heavily in increasing production capacity and improving the supply chain infrastructure for IPA, ensuring that they remain competitive in the global market.
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Global Adhesive Tapes Market size was valued at USD 67.48 Billion in 2023 and is poised to grow from USD 71.5 Billion in 2024 to USD 114 Billion by 2032, at a CAGR of 6.0% during the forecast period (2024-2032).

The competitive landscape of the global adhesive tapes industry is defined by strategic initiatives such as product innovation, technological upgrades, and partnerships to meet evolving industrial and consumer needs. Leading companies like 3M, Avery Dennison, and Tesa SE continue to invest in high-performance, application-specific tapes for automotive, healthcare, electronics, and construction sectors. For instance, in February 2024, 3M expanded its VHB™ tape line with AI-assisted adhesive formulations aimed at enhancing bond strength and temperature resistance for electric vehicle assembly. Similarly, Avery Dennison entered a strategic partnership with PragmatIC Semiconductor in April 2024 to develop smart adhesive labels embedded with flexible electronics, improving supply chain traceability. '3M', 'Ineos ', 'ExxonMobil', 'Royal Dutch Shell', 'SABIC', 'LG Chem', 'BASF', 'INEOS Styrolution', 'Chevron Phillips Chemical', 'LyondellBasell Industries', 'Eastman Chemical Company'

The growing implementation of stringent environmental regulations globally is compelling the automotive industry to adopt greener and more sustainable practices. These regulations encourage manufacturers to develop and utilize eco-friendly products to comply with the standards and minimize their carbon footprint. As a result, there is an increasing demand for adhesives and sealants that have lower VOC (volatile organic compounds) emissions and are derived from biobased or renewable resources.

Rising Demand for Specialty Adhesive Tapes in Healthcare and Electronics: One of the key global adhesive tapes market trends shaping the adhesive tapes market in 2024 is the increasing demand for specialty adhesive tapes, particularly in the healthcare and electronics sectors. These tapes are engineered for high-performance applications, offering features like biocompatibility, high thermal resistance, conductivity, and strong adhesion on various surfaces. In the healthcare sector, specialty tapes are being used in wearable medical devices, wound care, surgical drapes, and diagnostic tools, where skin-friendly, hypoallergenic, and breathable adhesives are critical.

What Makes North America a Stable Yet Sustainable Force in the Adhesive Tapes Market?

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Global Adhesive Tapes Market
Adhesive Tapes Market

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