The Non-Woven Tape Market is projected to grow at CAGR of 9.92% during the forecast period to reach a market size of US$3.085 billion in 2023
The recent study on the non-woven tape market covers an in-depth analysis of the market on the basis of the type of adhesive, end-user industry, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. According to the report titled “Non-Woven Tape Market – Forecasts from 2018 to 2023”, the market is expected to increase from US$1.749 billion in 2017 to US$3.085 billion by 2023, at a CAGR of 9.92% during the projected period. The report has segmented the non-woven tape market by type of adhesive (tackified acrylic, natural rubber, synthetic rubber), end-user industry (automotive, transportation, healthcare, electrical and electronics, others), and geography (North America, South America, Europe, Middle East and Africa, Asia Pacific). Non-woven tapes possess superb mechanical properties owing to its fiberglass origin and are suitable for bonding surfaces that have complicated and curved shapes. Their increasing use in the healthcare industry is driving the non-woven tape market growth. The manufacturers are coming up with advanced non-woven tapes so as to meet the requirements of the healthcare industry. For instance, in December 2018, 3M has expanded its lineup of advanced adhesives for medical devices with the addition of 3M Single coated Medical Extended Wear Adhesive Non-Woven tape on the liner, with an aim to improve the durability of the medical device wearers. The market is expected to grow at a good rate owing to their increased usage in industries such as automotive, electrical and electronics.
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Tackified Acrylic hold a significant share in the market
Tackified Acrylic holds a significant share in the market and is expected to grow at a steady rate over the forecast period. The growth is attributed to its increased use in demanding applications such as automotive applications where harsh environment persists.
Healthcare industry holds a major share in the market
Healthcare industry holds a major share in the market is owing to increased usage of non-woven tapes in the broad categories such as personal healthcare/hygienic products such as bedding, non-implantable medical dressing, including wound care products, etc. Non-woven tapes are popular in medical applications because they are sterile, anti-microbial, and liquid repellant or absorbent.
North America holds a substantial share in the market
The North America non-woven tape market holds a noteworthy share in the global market is owing to the developed healthcare infrastructure in the countries such as the US, and Canada. The market is expected to grow at a good rate owing to the increasing healthcare spending by the people. According to OECD data, healthcare spending in Canada has increased from 4538.2 dollars/capita in 2014 to 4826.3 dollars/capita in 2017.
Some of the major players discussed in the reports are tesa SE, 3M, Parafix Tapes & Conversions Ltd., Berry Global, NITTO DENKO CORPORATION, AVERY DENNISON CORPORATION, and MBK Tape Solutions.
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