According to a study done on the global adhesive tapes market, the period 2017-2022 is expected to see 6.68% growth in CAGR. Although the global market has responded well to the new key additions to the range of products in the adhesive segment, the Indian market is slowly moving toward the use of these new products.
Ajit Gupta, founder of Ajit Industries, said, “Recently, APAC countries have dominated the adhesive tapes market and are anticipated to continue doing so in the forecast period. Japan is one of the major markets for adhesive tapes, owing to the massive production of appliances, and health care products. However, the growing packaging industries in countries, like China, Japan, and India, are further expected to augment the demand for adhesive tapes. From the above-mentioned factors, it is evident that the demand for adhesive tapes is expected to further increase in the Asia-Pacific region over the coming years.”
Gupta added, “There are industries that are showing healthy growth rates. Ajit Industries will be focusing on expanding its product range for these industries such as packaging and label, signage, HVAC, surface protection, white goods, and electronic and electrical industries among others. The fattened use of superior adhesives and sealants in glazing and flooring applications is expected to fuel the growth of the elastic adhesive market across the globe.”
