Non Woven Tape Market is expected to witness a CAGR of more than 7.46% between 2018 and 2023

The Non Woven Tape Market was valued at USD 2.96 billion in 2017 and is projected to reach USD 4.55 billion by 2023, at a CAGR of 7.46% during the forecast period. In this study, 2017 has been considered as the base year, and the forecast period is 2018-2023. The report aims at estimating the size and growth potential of the non woven tape market across different segments, such as adhesive type, backing material, end-use industry, and region. Factors such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the non woven tape market have also been studied in this report. The report analyzes opportunities in the non woven tape market for stakeholders and presents a competitive landscape of the market.

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Non woven tapes are the most versatile, easy to process, highly permeable, and highly absorbent. They offer comfort to the skin, and hence are used for several applications in the medical dressing, electrical & electronics, and automotive & transportation industries. The main adhesives used in non woven tapes are acrylic, rubber, and silicone, with acrylic type holding the major market share. The market is witnessing significant growth, with fast-growing demand from the APAC and South American regions, especially from China, India, and Brazil, owing to the rising demand for automobiles, increasing healthcare expenditure, and increasing production of electronic devices.

Mergers & acquisitions and new product launches were the key growth strategies adopted by leading players in the non woven tape market between January 2016 and May 2018. Companies operating in the non woven tape market are focused on different organic and inorganic growth strategies to expand their presence and increase their market shares, globally. Leading manufacturers of non woven tapes include 3M Company (US), Nitto Denko Corporation (Japan), Tesa SE (Germany), LINTEC Corporation (Japan), PAUL HARTMANN (Germany), Avery Dennison Corporation (US), Nichiban Co., Ltd. (Japan), and Scapa Group Plc (UK).

Major manufacturers operational in the non woven tape market include 3M Company (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), LINTEC Corporation (Japan), Tesa SE (Germany), Scapa Group Plc (UK), PAUL HARTMANN AG (Germany), Nichiban Co., Ltd. (Japan), Teraoka Seisakusho Co., Ltd. (Japan), Intertape Polymer Group, Inc. (Canada), and Berry Global Group, Inc. (US).

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