Growing trend of lightweight vehicles to drive market growth of Insulating Glass Windows

The insulating glass window market size was USD 12.0 billion in 2020 and is projected to reach USD 17.2 billion by 2026; it is expected to grow at a CAGR of 6.1% from 2021 to 2026. The increasing demand for energy-efficient buildings in various regions is expected to drive the growth of this market. The commercial segment accounted for the largest share of the insulating glass window market in 2020, owing to the increasing rate of commercial building construction in the countries such as the US, Germany, China, and India.

With the increasing global concern on climate change and energy security, automobile manufacturers are facing increasing pressure to improve fuel efficiency on their fleet. Automobile manufacturers are turning to aluminum and composite materials as a building platform for vehicles. Both aluminum and composite materials are more expensive than steel. Therefore, the automobile industry are also looking at areas where they can use adhesive tapes instead of rivets and bolts to reduce costs. Structural adhesive tapes are engineered for multi-material bonding and joining and are the excellent adhesive solution for lightweight and high-performance designs.

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By sealant type, silicone segment is expected to lead the insulating glass window market during 2021 to 2026

Silicone sealants are widely used for glass bonding in insulating glass windows as they have the ability to bond materials together with enormous power or exceptional lightness and are designed for both permanent and temporary adhesion applications. Various properties of silicone, such as high elongation, high-temperature resistance, durability, and others are expected to drive this segment.

Middle East & Africa is projected to grow at the highest CAGR during the forecast period

Middle East & Africa region is projected to show positive growth, especially in the commercial construction industry, due to factors such as government initiatives (Saudi Arabia’s Vision 2030), increasing urbanization, and industrialization. Also, the Middle East & African insulating glass window market is projected to witness high growth till 2022, mainly because of the upcoming infrastructural projects such as Expo 2020 (UAE) and the 2022 FIFA World Cup (Qatar).

The key market players include AGC Inc. (Japan), Central Glass Co., Ltd. (Japan), Compagnie de Saint-Gobain SA (France), Dymax (US), Glaston Corporation (Finland), Guardian Glass (US), H.B. Fuller Company (US), Henkel AG & Co. KGaA (Germany), Internorm (Austria), Scheuten (Netherlands), Nippon Sheet Glass Co., Ltd. (Japan), Sika AG (Switzerland), 3M (US), Viracon (US). These players have adopted product launches, acquisitions, expansions, agreements, contracts, partnerships, investments, collaborations, and divestments as their growth strategies.

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COVD-19 impact on the Conformal Coating Market

 

The Conformal coatings market is estimated to be USD 807 million in 2020 and is expected to reach USD 1,081 million by 2025 at CAGR of 6.0%. The growth of the conformal coatings market is attributed to the increasing number PCB manufacturers and demand from high end applications that require conformal coatings.

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The conformal coating market is impacted by the COVID 19, due to the disruption caused by it in the end-use industries globally:

• The automobile industry is heading toward a year of significant decline as a result of extended lockdowns, impact in production, and fall in consumer demand. Sales volumes of passenger and commercial vehicles are projected to drop to levels not seen in over a decade. The automotive industry is struggling with an abrupt and widespread stoppage of economic activity, as workers are advised to stay home, supply chains grind to a halt, and factories are closed. Lockdowns prohibiting the movement of people and the sudden stoppage of economic activity has caused a severe contraction in sectoral output and gross domestic product (GDP). It is estimated that factory closures in Europe and North America have caused some millions of passenger vehicles to be removed from production schedules. These production declines have a cascading effect on OEMs and material suppliers, which will also affect the demand for conformal coatings.
• Amid the COVID-19 pandemic, more than 70% of the global aviation fleet is grounded. About 27,000 aircraft were in service at the beginning of 2020. Currently, less than 7,500 are still flying. The number of fleets is unlikely to recover to the previous levels until the end of 2022 at the earliest. Lockdowns have resulted in reduced passenger traffic and a significant decline in the revenue of airlines. According to the International Air Transport Association (IATA), global airline passenger revenues will drop by USD 314 billion in 2020, a 55% decline compared to 2019. The pandemic has had a significant impact on aircraft manufacturing as well. For instance, Airbus – one of the largest commercial aircraft manufacturing companies globally, has reduced its aircraft production rates by roughly one-third due to the COVID-19 pandemic. Boeing has also reported a first-quarter loss of USD 641 million. This has significantly affected the use of conformal coatings used in new aircraft production, as well as MRO operations

APAC is the largest market of conformal coatings, and this dominance is expected to continue till 2025. China is the key market in the region, consuming more than half of the demand for conformal coatings, followed by Taiwan, South Korea, and Japan. These countries are expected to witness a steady increase in consumption from 2020 to 2025. The region contributes close to 90% of PCB production in the world, and market is mainly driven by the presence of a large number of leading global electronics companies. PCB industry is quite fragmented as there are more than 100 companies that constitute close to 90% of overall PCB revenues and most of them belong to APAC, more so in China & Taiwan. Recent years have seen a lot of PCB manufacturing shifts to APAC due to cost-effectiveness and closer access to customers in the region, hence the increase in consumption of conformal coatings.

The key companies in the conformal coatings are Henkel (Germany), Illinois Tool Work (US), Shin-Etsu Chemical (Japan), Dow (US), H.B. Fuller (US), Chase Corporation (US), Electrolube (UK), Dymax Corporation (US), MG Chemical (Canada) and Specialty Coating System (US).

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Compagnie de Saint-Gobain SA (France) and AGC Inc. (Japan) are Leading Players in the Insulating Glass Window Market

The insulating glass window market is projected to grow from USD 12.8 billion in 2020 to USD 16.2 billion by 2025, at a CAGR of 4.8% from 2020 to 2025. The major reasons for the growth of the insulating glass window market include the optimal energy saving performance of insulating glass windows, the growing construction industry in regions like the Middle East and Asia Pacific, and the rising demand for value added glass products. These factors are responsible for driving the demand for insulating glass window market.

Asia Pacific is projected to be the fastest-growing market during the forecast period. Growing demand for insulating glass window due to the increasing investments in the commercial construction sector, as well as government initiatives that support the use of insulating glass windows in commercial buildings. Furthermore, the presence of leading insulating glass window manufacturers is expected to drive the insulating glass window market in the region.

Compagnie de Saint-Gobain SA (France), AGC Inc. (Japan), Central Glass Co., Ltd. (Japan), Glaston Corporation (Finland), Guardian Glass (US), Internorm International GmbH (Austria), JE Berkowitz (JEB) (US), Nippon Sheet Glass Co. Ltd. (Japan), Viracon (US), H.B. Fuller (US), Henkel AG & Co. KGaA (Germany), Dymax Corporation (US), Sika AG (Switzerland), and The 3M Company (US). These are leading players in the insulating glass window market, globally. These players have adopted the strategies of new product launches, acquisitions, expansions, agreements, contracts, partnerships, investments, joint ventures, and divestments, to increase their presence in the global market.

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Compagnie de Saint-Gobain SA is the leading player in the global insulating glass window market and is estimated to have the highest share in the market. In October 2019, Saint-Gobain Glass France, a subsidiary of Saint-Gobain, entered into several contracts with its waste collecting partners located in France. The purpose of this contract is to recycle glass from end-of-life windows to save energy and raw materials. Saint-Gobain Glass France’s waste collecting partners have committed to guaranteeing cullet quality compatible with that needed to manufacture new flat glass. The purpose of the contract is to reduce the procurement cost of raw glass materials, thereby minimizing the manufacturing costs of glass, either flat, insulated, or float glass.

Another important player in the global insulating glass window market is AGC Inc. In October 2018, AGC Inc. entered into a partnership with Panasonic Corporation (Japan) to develop a vacuum insulated glass with the highest class of insulation performance for the European market. Total value of USD 11 million was invested in this development. The new vacuum insulated glass was launched in the European market by March 2019 for application in the residential sector of the region. The partnership would help AGC Inc. in catering to the growing need for soundly insulated residential replacement windows in Europe due to the common practice of homeowners renovating older houses to live in for several years or even decades.

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Increasing demand from high-end applications requiring conformal coating

Conformal coating is highly preferred in PCBs, which are used in high-end applications in aerospace & defense and automotive industries. The aerospace & defense industry uses conformal coatings in space shuttle controls & systems, aircraft communications & controls, satellite systems, robotic cable assemblies, lightening protection chassis, and other similar technologies.

For the aerospace & defense industry, reliability on conformal coatings performance is the overriding issue. Conformal coatings in aerospace electronics must perform in extreme environments and hazardous situations. There is a difference in the electronics used in the aerospace & defense industry and the ones used in other industries. Electronics used in this industry are smaller in size that reduces the weight of the components and increases their functionality as well as performance. New technologies need to be thoroughly tested to check their reliability before they can be used in critical applications.

PCBs used in the aerospace & defense sector have the tolerance levels of ±0.0005 on etched features. Conformal coatings should also meet specific aerospace standards such as RTCA-DO-160 and MIL-STD-810 in order to get reliability tag from end users. These factors prove the increased operational parameters for electronic components in the aerospace & defense industry. The growth in this industry is likely to slow down due to the COVID-19 pandemic since air travel has been restricted around the world. Almost every airline has grounded a majority of its aircraft and is deferring orders for new ones as well. Aircraft manufacturing, too was halted due to complete lockdowns in countries of North America and Europe, which are the hubs of aircraft manufacturing.

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APAC is the largest market of conformal coatings, and this dominance is expected to continue till 2025. China is the key market in the region, consuming more than half of the demand for conformal coatings, followed by Taiwan, South Korea, and Japan. These countries are expected to witness a steady increase in consumption from 2020 to 2025. The region contributes close to 90% of PCB production in the world, and market is mainly driven by the presence of a large number of leading global electronics companies. PCB industry is quite fragmented as there are more than 100 companies that constitute close to 90% of overall PCB revenues and most of them belong to APAC, more so in China & Taiwan. Recent years have seen a lot of PCB manufacturing shifts to APAC due to cost-effectiveness and closer access to customers in the region, hence the increase in consumption of conformal coatings.

The key companies in the conformal coatings are Henkel (Germany), Illinois Tool Work (US), Shin-Etsu Chemical (Japan), Dow (US), H.B. Fuller (US), Chase Corporation (US), Electrolube (UK), Dymax Corporation (US), MG Chemical (Canada) and Specialty Coating System (US).

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Conformal Coating Market worth $1,265 million by 2025, at CAGR of 5.3%

The Conformal coatings market is estimated to be USD 977 million in 2020 and is expected to reach USD 1,265 million by 2025 at CAGR of 5.3%. Conformal coatings are a type of protective coatings of 25-75µm thickness which are applied to printed circuit boards (PCBs) and other electronic components to protect them from harsh environments such as dust, solvents, moisture, humidity, and high temperature. Conformal coatings increase the operational performance of PCBs assemblies by maintaining long-term surface insulation.

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“Automotive is the largest end-use segment in the overall conformal coatings market.”

The automotive industry has grown at a fast pace in the last decade, which led to the rapid evolution and increased consumption of electronics used in the vehicles. Currently, an average mid-range vehicle is loaded with technological features such as lane sensors, adaptive cruise control, in-car entertainment, and navigation. Also, the emergence of electric vehicle (EV), connected cars, and autonomous vehicles have resulted in a rapid surge in the advancement of electronics installed in these vehicles. From the industry point of view, the challenge is to protect these huge volumes PCBs and ICs used in the electronics system over a long period while meeting the specifications required by the automotive industry. This creates an attractive opportunity for conformal coatings manufacturers in the automotive and transportation industry. It is also the go-to-market for PCB manufacturers.

“Silicone conformal coating is the fastest-growing type for conformal coating.”

Various industries require coatings for high-temperature applications. Silicone conformal coatings are widely used for such applications, as they have the ability to withstand severe temperature conditions for an extended period. These coatings are widely used in under-the-hood automotive components. They can also be used in PCBs to protect them from damage and provide electrical insulation in hot and cold environments. Silicone coatings also protect electronic equipment from the extremely high as well as low temperatures. Silicone-based conformal coatings are manufactured as single-component compounds and also provides excellent humidity, corrosion and chemical resistance. However, these coatings are not abrasion resistant because of its rubbery nature, but this makes it resilient against vibrational stresses.

APAC is the largest market of conformal coatings, and this dominance is expected to continue till 2025. China is the key market in the region, consuming more than half of the demand for conformal coatings, followed by Taiwan, South Korea, and Japan. These countries are expected to witness a steady increase in consumption from 2020 to 2025. The region contributes close to 90% of PCB production in the world, and market is mainly driven by the presence of a large number of leading global electronics companies. PCB industry is quite fragmented as there are more than 100 companies that constitute close to 90% of overall PCB revenues and most of them belong to APAC, more so in China & Taiwan. Recent years have seen a lot of PCB manufacturing shifts to APAC due to cost-effectiveness and closer access to customers in the region, hence the increase in consumption of conformal coatings.

The key companies in the conformal coatings are Henkel (Germany), Illinois Tool Work (US), Shin-Etsu Chemical (Japan), Dow (US), H.B. Fuller (US), Chase Corporation (US), Electrolube (UK), Dymax Corporation (US), MG Chemical (Canada) and Specialty Coating System (US).

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Paper & printing industry plays a significant role in driving the Splicing Tapes Market

 

The splicing tapes market size is projected to grow from USD 527 million in 2018 to USD 593 million by 2023, at a CAGR of 2.37% during the forecast period. The global paper & printing industry is undergoing a rapid transformation and plays a significant role in driving the splicing tapes market globally. Splicing tapes are used in the production of paper, films, label, and packaging products (such as corrugated boxes, paperboards, or envelopes). However, the environmental regulations related to the paper & pulp sector could act as a major constraint. The developed countries, in regions such as Europe and North America, are anticipated to cut back on the growth level in the near future, owing to the stagnant nature of their markets.

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The paper/tissue is the most popular backing material used in the manufacturing of splicing tapes. Easy availability, flexibility, and a high degree of printability are driving the demand for paper/tissue backing splicing tapes. Also, paper/ tissue backing tape comes with many attractive features such as UV resistance, repulpablity, and others. Repulpable paper/tissue tape line can be recycled without contamination of the broke pulp for use in paper mills, converters, newspapers, and web printers for roll closing/tabbing and splicing.

The splicing tapes used in the paper & printing industry can be single-sided or double-sided and repulpable and non-repulpable. Splicing tapes are mainly used in the paper industry during production of paper. They are also used for flexographic printing, end tabbing, permanent overlapped splices, paper for packaging application, and others. Splicing tape is particularly characterized by a high tensile strength, high shear strength, and good ageing resistance.
APAC is expected to account for the largest market

APAC is the largest splicing tapes market, in terms of value and volume, and is projected to be the fastest-growing splicing tapes market during the forecast period. APAC has been a high potential splicing tapes market against the backdrop of an overall slowdown in the global economy. The paper & printing and packaging sectors are growing rapidly in tandem with the rising population which is one of the major factors driving the splicing tapes market. The market in China, India, and other rapidly developing countries is expected to witness the fastest growth, while more developed markets such as the US, Germany, Japan, and the UK, will witness slow or no growth during the forecast period.

In APAC, China is the largest and second-fastest growing economy after India. China is currently one of the largest pulp and paper product manufacturers in the world. The Chinese manufacturers have consistently invested in the latest paper manufacturing infrastructure, creating a highly competitive environment for international trade of paper products. Various advanced technologies and machinery are used in the country by manufacturers to come up with the end products of splicing tapes by using different backing materials.

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Rising demand from emerging economies is expected to drive the hot melt adhesive tapes market

The market size of hot melt adhesive tapes is projected to grow from USD 15.5 billion in 2019 to USD 21.7 billion by 2024, at a CAGR of 7.0%, during the forecast period. The global hot melt adhesive tapes market is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the APAC region. Growing packaging market in emerging economies is a key factor providing growth opportunities to the market.

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APAC is expected to be the largest and fastest-growing hot melt adhesive tapes market. The demand for hot melt adhesive tapes has increased in other APAC countries, such as South Korea, Singapore, India, and Indonesia, as the application activities in these countries have risen. China has been the driving force for the rapid expansion of the adhesive tapes market, not only in APAC, but also worldwide. In several countries, the factors affecting the packaging, which is a major application of hot melt adhesive tapes, are the increasing level of disposable income and population growth. This growth is driven by rapidly rising household income and the fast-growing middle-class population, which has boosted the demand in packaging and DIY, among other applications, in the hot melt adhesive tapes market. These factors are positively influencing the hot melt adhesive tapes market growth.

Increasing public awareness for DIY is fueling the use of these tapes in different activities, such as gardening, crafting, and small construction & furniture projects. A majority of these tapes are used for different office and household applications. The consumer & DIY applications of hot melt adhesive tapes include temporary repairing of rips on any kind of surface, sealing of leaks and holes, temporary mounting of damaged components of cars and automobiles, jointing of broken components of various tools, sealing, and packaging. Hence, the demand for consumer & DIY applications is high in the hot melt adhesive tapes market.

Key players profiled in the hot melt adhesive tapes market report include The 3M Company (US), Nitto Denko Corporation (Japan), tesa SE (Germany), Avery Dennison Corporation (US), Intertape Polymer Group Inc. (Canada), Shurtape Technologies, LLC (US), Scapa Group plc (UK), LINTEC Corporation (Japan), ACHEM Technology Corporation (Taiwan), and TE Connectivity Ltd (Switzerland).


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Automotive is the largest end-use industry in the overall conformal coatings market

The Conformal coatings market is estimated to be USD 977 million in 2020 and is expected to reach USD 1,265 million by 2025 at CAGR of 5.3%. Conformal coatings are a type of protective coatings of 25-75µm thickness, which are applied to printed circuit boards (PCBs) and other electronic components to protect them from harsh environments such as dust, solvents, moisture, humidity, and high temperature. Conformal coatings increase the operational performance of PCBs assemblies by maintaining long-term surface insulation.

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The automotive industry has grown at a fast pace in the last decade, which led to the rapid evolution and increased consumption of electronics used in the vehicles. Currently, an average mid-range vehicle is loaded with technological features such as lane sensors, adaptive cruise control, in-car entertainment, and navigation. Also, the emergence of electric vehicle (EV), connected cars, and autonomous vehicles have resulted in a rapid surge in the advancement of electronics installed in these vehicles. From the industry point of view, the challenge is to protect these huge volumes PCBs and ICs used in the electronics system over a long period while meeting the specifications required by the automotive industry. This creates an attractive opportunity for conformal coatings manufacturers in the automotive and transportation industry. It is also the go-to-market for PCB manufacturers.

APAC is the largest market of conformal coatings, and this dominance is expected to continue till 2025. China is the key market in the region, consuming more than half of the demand for conformal coatings, followed by Taiwan, South Korea, and Japan. These countries are expected to witness a steady increase in consumption from 2020 to 2025. The region contributes close to 90% of PCB production in the world, and market is mainly driven by the presence of a large number of leading global electronics companies. PCB industry is quite fragmented as there are more than 100 companies that constitute close to 90% of overall PCB revenues and most of them belong to APAC, more so in China & Taiwan. Recent years have seen a lot of PCB manufacturing shifts to APAC due to cost-effectiveness and closer access to customers in the region, hence the increase in consumption of conformal coatings.

North America is projected to be the second-largest market in the overall market. The conformal coating market in the region will be driven by the PCB demand from the electric vehicle (EV) manufacturers. But in recent years, PCB manufacturers are looking to capture the aerospace and defense industry which will create opportunities for conformal coatings as this PCB should be protected for them to work in full capacity during operations.

The leading players in the global conformal coatings market include Henkel (Germany), Chase Corporation (US), Illinois Tool Work (US), Electrolube (UK), Shin-Etsu Chemicals (Japan), Dow (US), HB Fuller (US). These players account for significant market shares. The companies adopted expansion and new product developments as key strategies to enhance growth in the market.

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APAC is expected to account for the largest market for Healthcare Adhesive Tapes

APAC has emerged as the leading consumer and producer of healthcare adhesive tapes. The easy availability of low-cost labor and economical & accessible raw materials are driving foreign investments, thereby increasing the production of healthcare adhesive tapes in the region. The market in APAC is mainly driven by China, which is the leading consumer of healthcare adhesive tapes, globally.

India is expected to be the fastest-growing healthcare adhesive tapes market in APAC during the forecast period. The Indian healthcare & hygiene sector is witnessing a phase of rapid transformation and growth, mainly driven by infrastructure development, changing lifestyle and buyers’ preferences. This is expected to drive the healthcare adhesive tapes market in the APAC region. Many international companies are investing in China and India to cater to the market demand.

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The healthcare adhesive tapes market is projected to grow from USD 27.2 billion in 2018 to USD 37.3 billion by 2023, at a CAGR of 6.51% during the forecast period. The major factor driving the healthcare adhesive tapes market includes the increase in demand for surgeries, wound dressings, hygiene, transdermal drug delivery, and many others, owing to their advantages in many medical applications. These adhesive tapes have wide acceptability due to factors such as low cost and easy availability, as compared to traditional medical procedures.

It comes in a variety of lengths and widths that are designed to meet a wide range of bandaging needs. The growth of the market is due to the increasing use of these tapes in wound care and for surgery in emerging economies such as India, China, Thailand, Indonesia, Brazil, and Argentina.

Designed specifically for use in healthcare applications, adhesive tape bandages may be used on fragile or at-risk skin, as well as in moist skin environments. Air permeable, they allow outside air to penetrate and reach the underlying dressing or skin, creating a “breathable” healing and support solution. Transdermal drug delivery patches are used in therapeutic systems to deliver the drug at a controlled rate in a systematic circulation of discrete dosage by utilizing the passive diffusion of drugs when applied to the skin. These tapes deliver the infusion of the drug over a period of time and can be terminated any time by removing the patch. These tapes are similar to the wound tapes, flat and they consist active pharmaceutical ingredients and adhesives which deliver the drugs to the body via human skin.

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Key Market Players
The major vendors in the healthcare adhesive tapes market are 3M (US), Cardinal Health, Inc. (US), Nitto Denko Corporation (Japan), Johnson & Johnson Services, Inc. (US), PAUL HARTMANN AG (Germany), Avery Dennison Corporation (US), NICHIBAN Co., Ltd. (Japan), Smith & Nephew (UK), Lohmann GmbH & Co.KG (Germany), Scapa Group Plc (US), Medline Industries Inc. (US), and Essity Aktiebolag (PUBL) (Sweden). Nitto Denko Corporation (Japan), is one of the largest healthcare adhesive tapes companies. This company has a strong global presence. It has a diversified product portfolio to cater to end-use industries according to their requirements. To sustain its dominating position, the company may enter into new industries and target new markets.

Shin-Etsu Chemicals (Japan) and Dow (US) are Leading Players in the Conformal Coating Market

The Conformal coatings market is estimated to be USD 977 million in 2020 and is expected to reach USD 1,265 million by 2025 at CAGR of 5.3%. Conformal coatings are a type of protective coatings of 25-75µm thickness which are applied to printed circuit boards (PCBs) and other electronic components to protect them from harsh environments such as dust, solvents, moisture, humidity, and high temperature. Conformal coatings increase the operational performance of PCBs assemblies by maintaining long-term surface insulation.

The leading players in the global conformal coatings market include Henkel (Germany), Chase Corporation (US), Illinois Tool Work (US), Electrolube (UK), Shin-Etsu Chemicals (Japan), Dow (US), HB Fuller (US). These players account for significant market shares. The companies adopted expansion and new product developments as key strategies to enhance growth in the market.

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Shin-Etsu Chemical is one of the leading manufacturers and distributors of synthetic resin and other chemicals. The company operates through six business segments, namely PVC/Chlor-Alkali business, semiconductor silicon business, silicone business, electronics and functional materials business, specialty chemicals, and processing, trading & specialized services business. It offers conformal coatings under the silicone business segment. The company has a strong presence in over 20 countries and regions. In September 2018, Shin-Etsu decided to invest USD 1 billion in the facility for silicone business. The expansion will increase the production capacity of various silicone fluids, resins, monomers, intermediates and rubber end products at the bases in Japan and globally.
Dow is one of the largest chemical manufacturing and distributing companies in the world.  The DowDuPont company has been organized into three operating segments namely performance materials & coatings, industrial intermediates & infrastructure and packaging & specialty plastics. It offers conformal coatings under the performance materials & coatings segment. The company has an extensive global presence with 109 manufacturing plants in 31 countries across the Americas, APAC, Europe and Middle & Africa. In February 2020, Dow introduced DOWSIL CC-820 UV and Moisture Dual-Core Conformal Coating at the IPC APEX EXPO 2020. This is the first solventless silicone conformal coating which has a moisture dual-core system for high throughputs. The new product promotes sustainability, health and safety.

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Medical Adhesive Tapes Market- Future Demand, Market Analysis up to 2022

The medical adhesive tapes market is expected to grow from an estimated USD 6.64 billion in 2017 to USD 8.76 billion by 2022, at a CAGR of 5.69%. The high growth of the Asia Pacific medical adhesive tapes market can be attributed to the increased demand for medical adhesive tapes from emerging economies, such as India, China, Taiwan, South Korea, Vietnam, and Singapore, among others. The medical adhesive tapes market in China is growing rapidly and this trend is expected to continue till 2022, in terms of production and supplier activities, owing to low labor costs in the country. In addition, the demand for medical adhesive tapes in various applications is increasing rapidly, including surgeries, wound dressings, splints, secure IV lines, and ostomy seals, among others.

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China is leading the Asia Pacific medical adhesive tapes market. The growth of the China medical adhesive tapes market is due to its large population, availability of cheap labor, easy accessibility to raw material, lower taxes, and less stringent environmental regulations for the manufacture of medical adhesive tapes.

Among resin types, the silicone segment of the medical adhesive tapes market is expected to grow at the highest CAGR during the forecast period. Silicone adhesive tapes are gentler than traditional acrylate adhesives, as per clinical research. The performance of silicone adhesive tapes is excellent on low surface energy substrates. Major players are planning to increase the production capacity of silicone medical adhesive tapes considering future demand, as these are widely used for fragile skin such as infants and elderly patients with co-morbidities which cause the skin to become more fragile.

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Among applications, the secure IV lines segment of the medical adhesive tapes market is expected to grow at the highest rate from 2017 to 2022. These are useful due to factors such as increased security, decreased risk of infection, and improved site visibility.

3M Company (US), Medtronic Plc (Ireland), Nitto Denko Corporation (Japan), Johnson & Johnson (US), Smith & Nephew Plc (UK), Nichiban Co., Ltd. (Japan), PAUL HARTMANN AG (Germany), and Avery Dennison Corporation (US), among others are the key players operating in the medical adhesive tapes market.

Healthcare Adhesive Tapes Market Current Trends and Future Aspect Analysis 2019 – 2023

The market size of healthcare adhesive tapes is estimated to grow from USD 27.2 billion in 2018 to USD 37.3 billion by 2023, at a CAGR of 6.51% during the forecast period. Healthcare adhesive tapes are pressure-sensitive adhesive tapes used in the healthcare field for either directly securing the wound or for the securement/stabilization of healthcare materials such as dressing, catheters, tubes, and others. The drivers of market are the rising number of surgeries, increasing incidence of diabetes, and the growing number of ambulatory surgery centers. On the other hand, the rising awareness about advanced wound care products is expected to restrain the growth of the healthcare adhesive tapes market during the forecast period. New advancement technologies in surgery application have driven the demand for healthcare adhesive tapes in North America and Europe.

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Healthcare adhesive tapes are generally used for the primary treatment of wounds by covering and securing to prevent bacterial infections, and to hold bandages in place. They are also used for securing dressings, catheters, and infusion or drainage devices. They come in a variety of lengths and widths that are designed to meet a wide range of bandaging needs. A broad range of materials are used to make healthcare adhesive tapes, including paper, plastics, fabrics, and foam. The major resin used to manufacture adhesive tapes is acrylic, rubber, silicone, and others.

The silicone segment in the market is projected to grow at a higher rate than the acrylic segment because of its better adhesion properties. Silicone-based tapes maintain adhesion over a larger temperature range and possess the ability to adhere to difficult surfaces. These factors are expected to drive the demand for silicone resin. Silicone resin-based tapes have lower peel adhesion compared to synthetic, rubber, and acrylic tapes. These tapes are also widely used for fragile skin such as of infant babies and the elderly patients with comorbidities.

Fabric is the most popular backing material used in manufacturing healthcare adhesive tapes. Fabric healthcare adhesive tapes are highly demanded since they have high strength, toughness, good abrasion and heat resistance, low creep at elevated temperatures, good chemical resistance, and excellent dimensional stability. Owing to its strength, this tape is used for securing dressings, catheters, tubing, and wound dressing and for other medical purposes. Strength and elasticity make it suitable for areas on the body such as biceps which expand and contract with movement.

In terms of geographic coverage, the healthcare adhesive tapes market has been segmented into five regions, namely, APAC, North America, Europe, South America, and the Middle East & Africa. APAC is expected to record the highest growth rate during the forecast period. Increase in aging population, easy availability of low-cost labor, and economical & accessible raw materials such as adhesives, backing materials, and release liners are driving foreign investments, thereby increasing the production of healthcare adhesive tapes in the region. The key players are also tapping these opportunities by expanding their production capacity in the emerging Southeast Asian economies.

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Splicing Tapes Market Current Trends and Future Aspect Analysis 2019 – 2023

The market size of splicing tapes is estimated to grow from USD 527 million in 2018 to USD 593 million by 2023, at a CAGR of 2.37% during the forecast period. The need for printing and writing papers and packaging products has specifically driven the demand from containerboards. Also, digitalization and online shopping trends in developing countries have driven the demand for paper-backed splicing tapes, as in online shopping printing paper are used for billing as manufacturers attach copies of bills.

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 Splicing tapes are mostly used to connect two substrates together to provide continuity in operation or to increase its length. Most of the splicing tapes are repulpable that can be recycled. Also, most of the splicing tapes are double sided as it connects both ends of the substrates and increases the length. The backing material such as paper/tissue, PET/polyester, non-woven, and others coated with acrylic, rubber, or silicone adhesives provide optimum strength for splicing, flying splice, overlapping, and butting & tabbing. Growth of paper production and virgin-fiber pulp mills in APAC, Africa, and South America and the growing demand for repulpable paper/tissue in North America, APAC, and Europe are driving the splicing tapes market.

On the other hand, the non-hygienic process of manufacturing the recycled paper and reduction in the consumption of paper in Europe and North America are expected to confine the growth of the splicing tapes market during the forecast period. However, the use of non-wood fiber in paper production is providing growth opportunities for the splicing tapes market.

Splicing tapes are generally used in many applications such as paper & printings, electronics, packaging, labeling, and others. The demand for splicing tapes has increased in the paper & printings and packaging applications owing to their properties. In the paper & printing industry, splicing tapes are used for flexographic printing, end tabbing, and paper producing, in the packaging industry, these are used in cartons packaging and corrugated board. Paper and paperboard packaging is an emerging trend of packaging which is gaining consumer’s attraction due to its effective solutions in food & beverage, healthcare, manufacturing, personal care, and other industries. In the textile industry, splicing tapes are used in leather belts and garments during fabrication. In the electronics industry, splicing tapes are used in tabbing and holding lithium-ion batteries and other electronics item.

The key players of splicing tape includes tesa SE (Germany), 3M Company (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), Intertape Polymer Group, Inc. (Canada), Scapa Group PLC (UK), Shurtape Technologies, PLC (US), ECHOtape (US), and Adhesive Research, Inc. (US). tesa SE (Germany) is one of the largest splicing tapes companies. This company has a strong global presence. It has a diversified product portfolio to cater to end-use industries according to their requirements. To sustain its dominating position, the company may enter into new industries and target new markets.

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Avery Dennison Corporation (US) and Intertape Polymer Group (Canada) are the Key Players in the Hot Melt Adhesive Tapes Market

The hot melt adhesive tapes market is projected to grow from USD 15.5 billion in 2019 to USD 21.7 billion by 2024, at a CAGR of 7.0%, between 2019 and 2024. APAC is the largest consumer of hot melt adhesive tapes. The global hot melt adhesive tapes market is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the APAC region.

The key players operating in the market are the 3M Company (US), Nitto Denko Corporation (Japan), tesa SE (Germany), Avery Dennison Corporation (US), and Intertape Polymer Group Inc. (Canada). These players have adopted various strategies, such as merger & acquisition, investment & expansion, and new product launch, to grow in the market. Mergers & acquisition was the key strategy adopted by the major players, between 2015 and 2019, to enhance their market shares and expand their global presence.

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Avery Dennison Corporation (US) is one of the major companies in the global hot melt adhesive tapes market. The company achieved this position after several successful small and big acquisitions and expansion activities. The acquisition of Mactac’s European business, a leading manufacturer of high-quality, pressure-sensitive materials, catering to several high-value segments, including graphics, specialty labels, and industrial tapes, in 2016, was the major acquisition of the company. The acquisition enhanced the company’s competitiveness in the hot melt adhesive tapes market in Europe.

Intertape Polymer Group (Canada), which was founded in 1991, is a leading player in hot melt adhesive tapes market. The company develops, manufactures, and supplies a variety of paper and film-based pressure-sensitive and water-activated tapes, polyolefin films, woven fabrics, and complementary packaging systems for industrial and retail applications. The company offers products for aerospace, automotive, and industrial applications. It has operations in 17 locations, including 12 manufacturing facilities in North America and 1 in Europe. The company, with its products, caters to a number of countries, including Canada, Germany, and the US. After acquiring all the assets of Canadian Technical Tape Ltd., Intertape will be able to improve its distribution channel and add value to its products.

Acrylics and epoxy, the largest types of conformal coatings

Conformal coatings are available in various types such as, acrylics, epoxy, urethane, silicone, parylene, and others. The acrylics segment accounted for the largest market share, in terms of volume as well as value, followed by epoxy. Acrylic conformal coatings accounted for the largest share due to their inexpensive nature and easy-to-apply properties. The rising demand of environmental friendly or volatile organic compounds (VOCs)-free conformal coatings in countries such as Germany and France is expected to drive this market. New products such as Certonal FC-742 and Never Wet are gaining attention, which are likely to enhance the utilization and application areas of conformal coatings.

The market is driven by increasing demand for conformal coatings in emerging markets and high demand from the electronics, aerospace & defense, automotive & transportation, industrial, and marine industries. Asia-Pacific is projected to witness s strong growth in the future. Growth in this region can be attributed to high demand from emerging markets such as China and India.

Conformal coatings find applications in the following industries: automotive & transportation, manufacturing Industries, aerospace & defense, electronics, and marine industry. The electronics industry is estimated to be the largest end-use industry of conformal coatings. The growing electronic industry and the need for conformal coatings on PCBs for better performance in vulnerable environments have been the key drivers for the dominance of the electronic industry in the conformal coating market.

The global conformal coatings market is estimated to reach USD 12.28 Billion by 2021, registering a CAGR of 4.7%. The market is driven by increasing demand for conformal coatings in emerging markets and high demand from printed circuit boards in electronics and automotive & transportation industries. Conformal coatings have unique properties, such as high resistance to dust, moisture, salts, corrosion, high temperature, and humidity and they increase the reliability of electronic equipment by 3 to 5 years.

The report “Conformal Coatings Market by Type (Acrylics, Epoxy, Urethane, Silicone, Parylene, and Others), by End-Use Industry (Automotive & Transportation, Electronics, Aerospace & Defense, Industrial, Marine, and Others), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) – Global Trends & Forecasts to 2021“.

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3M Company (US) and Nitto Denko Corporation (Japan) are the Key Players in the Splicing Tapes Market

The splicing tapes market size is projected to grow from USD 527 million in 2018 to USD 593 million by 2023, at a CAGR of 2.37% during the forecast period. The global paper & printing industry is undergoing a rapid transformation and plays a significant role in driving the splicing tapes market globally. Splicing tapes are used in the production of paper, films, label, and packaging products (such as corrugated boxes, paperboards, or envelopes). However, the environmental regulations related to the paper & pulp sector could act as a major constraint. The developed countries, in regions such as Europe and North America, are anticipated to cut back on the growth level in the near future, owing to the stagnant nature of their markets.

The key players of the market include tesa SE (Germany), 3M Company (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), Intertape Polymer Group, Inc. (Canada), Scapa Group PLC (UK), Shurtape Technologies, PLC (US), Echotape (US), and Adhesive Research, Inc. (US). New product launch has been the most dominating strategy adopted by major players between 2015 and 2018, which helped them broaden their customer base.

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In-line with the rising demand for splicing tapes, tesa has been working to deliver efficient splicing tape products to various applications in the paper & printing industry. This company operates through business segments, namely, Direct Industries and Trade Markets. Direct Industries caters to various end-use industries such as automotive, electronics (mobile phones and laptops), paper & printing, and building & construction. The Trade Markets division is further divided into two segments, namely, General Industrial Markets (adhesive solutions for packaging, tapes required during transporting, assembling, and repairing products) and Consumer & Craftsmen (product solutions required for daily use in homes, offices, and crafts). The company launched a new product called tesa Easy Splice in Feb 2018 which is used in the paper & printing industry to increase output volume and reduce the change over time. Through the strategy of new product launch, the company is able to cater to the demands of a wide range of industries, especially from APAC. This will boost the growth of the company and, also, its splicing tapes business, globally.

The second-most active company in the market is 3M Company. The company operates through five business segments, namely, industrial, safety & graphics, electronics & energy, health care, and consumer. It manufactures splicing tapes for varied applications through its electronics & energy segment. Its splicing tapes products in the paper & printings application have global brand recognition. The company has planned to adopt organic and inorganic strategies such as new product launch, investment & expansion, and merger & acquisition in the future which will surely increase its presence and revenue globally.

Related Reports:

Splicing Tapes Market by Resin (Acrylic, Rubber, Silicone), Backing Material (Paper/Tissue, Pet/Polyester, Non-Woven & Others), Application (Paper & Printing, Packaging, Electronics, Labeling), and Region - Forecast to 2023

Avery Dennison Corporation (US) and Intertape Polymer Group (Canada) are the Key Players in the Hot Melt Adhesive Tapes Market

The hot melt adhesive tapes market is projected to grow from USD 15.5 billion in 2019 to USD 21.7 billion by 2024, at a CAGR of 7.0%, between 2019 and 2024. APAC is the largest consumer of hot melt adhesive tapes. The global hot melt adhesive tapes market is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the APAC region.

The key players operating in the market are the 3M Company (US), Nitto Denko Corporation (Japan), tesa SE (Germany), Avery Dennison Corporation (US), and Intertape Polymer Group Inc. (Canada). These players have adopted various strategies, such as merger & acquisition, investment & expansion, and new product launch, to grow in the market. Mergers & acquisition was the key strategy adopted by the major players, between 2015 and 2019, to enhance their market shares and expand their global presence.

To know about the assumptions considered for the study download the pdf brochure

Avery Dennison Corporation (US) is one of the major companies in the global hot melt adhesive tapes market. The company achieved this position after several successful small and big acquisitions and expansion activities. The acquisition of Mactac’s European business, a leading manufacturer of high-quality, pressure-sensitive materials, catering to several high-value segments, including graphics, specialty labels, and industrial tapes, in 2016, was the major acquisition of the company. The acquisition enhanced the company’s competitiveness in the hot melt adhesive tapes market in Europe.

Intertape Polymer Group (Canada), which was founded in 1991, is a leading player in hot melt adhesive tapes market. The company develops, manufactures, and supplies a variety of paper and film-based pressure-sensitive and water-activated tapes, polyolefin films, woven fabrics, and complementary packaging systems for industrial and retail applications. The company offers products for aerospace, automotive, and industrial applications. It has operations in 17 locations, including 12 manufacturing facilities in North America and 1 in Europe. The company, with its products, caters to a number of countries, including Canada, Germany, and the US. After acquiring all the assets of Canadian Technical Tape Ltd., Intertape will be able to improve its distribution channel and add value to its products.

Related Reports:

Hot Melt Adhesive Tapes Market by Adhesive Resin (Rubber, Silicone), Backing Material (PP, Polyester), Product Type (Commodity, Specialty), Application (Packaging, Consumer & DIY, Masking, Healthcare & Hygiene) and Region – Global Forecast to 2024

New Product Development, Investment & Expansion, and Merger & Acquisition, to Expand their Presence in the Global Healthcare Adhesive Tapes Market.

The healthcare adhesive tapes market size is projected to grow from USD 27.2 billion in 2018 to USD 37.3 billion by 2023, at a CAGR of 6.51% during the forecast period. The major factors driving the healthcare adhesive tapes market are identified as the rising number of surgeries, increasing incidence of diabetes, and the growing number of ambulatory surgery centers. Also, research institutions and various manufacturers are taking initiatives and making huge investments in R&D for the technological development of healthcare adhesive tapes, and the improvement of their properties for use in various applications.

The major healthcare adhesive tapes vendors include 3M (US), Cardinal Health, Inc. (US), Nitto Denko Corporation (Japan), Johnson & Johnson Services, Inc (US), PAUL HARTMANN AG (Germany), Avery Dennison Corporation (US), NICHIBAN Co., Ltd. (Japan), Smith & Nephew (UK), Lohmann GmbH & Co.KG (Germany), Scapa Group Plc (US), Medline Industries Inc. (US), and Essity Aktiebolag (PUBL) (Sweden). These players have adopted various growth strategies, such as new product development, investment & expansion, and merger & acquisition, to expand their presence in the global healthcare adhesive tapes market. Merger & acquisition has been the most dominating strategy adopted by major players between 2015 and 2018, which help them broaden their customer base.

To know about the assumptions considered for the study download the pdf brochure

In-line with the rising demand for healthcare adhesive tapes, 3M (US) has been working to deliver efficient healthcare adhesive tapes products to various applications in the healthcare industry. This company operates through business segments such as Industrial, Safety and Graphics, Electronics & Energy, Health Care, and Consumer. The company offers healthcare adhesive tapes products which are used in application such as wound care dressing, diagnostic, surgical drapes, diapers, and others. In November 2018, the company launched a high-adhesion Durapore medical adhesive tape, designed to provide safe, reliable critical tube securement in challenging conditions such as high-moisture environments. Similarly, in August 2017, 3M added 3M 4076 Extended Wear Medical Tape to its portfolio. The product is nonwoven, long-term wear and an acrylic-based adhesive solution designed to increase patient comfort and provide a strong and reliable bond in challenging applications.

The second most active company in healthcare adhesive tapes is Cardinal Health (US). The US-based firm operates as an integrated healthcare service and products company. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments, Pharmaceutical and Medical. To enhance its market in the healthcare industry, in July 2017, the company acquired Medtronic’s Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency business for USD 6.1 billion. This acquisition provides more products which are used across a wide range of applications in the healthcare industry.

Related Reports:

Healthcare Adhesive Tapes Market by Resin (Acrylic, Rubber, Silicone), Backing Material (Paper, Fabric, Plastic), Application (Surgery, Hygiene, Wound Dressing, Secure Iv Lines, Ostomy Seal, Splint, Bandages, Diagnostic), and Region – Forecast to 2023

Splicing Tapes Market worth $593 million by 2023

The splicing tapes market size is projected to grow from USD 527 million in 2018 to USD 593 million by 2023, at a CAGR of 2.37% during the forecast period.

There is a high demand for splicing tapes in the paper & printing and packaging industries due to the increase in population and digitalization in many parts of the globe. Digitalization process has driven the market of online shopping which has propelled the demand for packaging and labeling. Also, paper and paperboard packaging are gaining consumer’s attraction due to their effective solutions in food & beverages, healthcare, manufacturing, personal care, and other industries which is also driving the splicing tapes market.  

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Recent Developments

• In Feb 2018, tesa (Germany) launched a new product called tesa Easy Splice which is used in the paper & printings industry. It is used to increase output volume and reduce change over time.

The paper & printing application is expected to account for the largest share of the splicing tapes market.

The paper & printing segment is expected to account for the largest market share during the forecast period. The splicing tapes used in the paper & printing industry can be single-sided or double-sided and repulpable and non-repulpable. Splicing tapes are mainly used in the paper industry during production of paper. They are also used for flexographic printing, end tabbing, permanent overlapped splices, paper for packaging application, and others. Splicing tape is particularly characterized by a high tensile strength, high shear strength, and good ageing resistance.

The rising demand for paper in various industries from economies such as Japan, India, China, South Korea, Vietnam, Taiwan, Singapore, among others is contributing to the growth of the APAC splicing tapes market to. China is expected to lead the production and demand for splicing tape due to the increased paper and film production. It is also reportedly among the largest consumers of splicing tapes in the region.

Major vendors in the splicing tapes market include 3M (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), Scapa Group Plc (US), tesa SE (Germany), Intertape Polymer Group, Inc. (Canada), Shurtape Technologies, Llc (US), ECHOtape (US), Orafol Europe Gmbh (Germany), and Adhesive Research, Inc. (US).