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Lintec Corporation (Japan) and Nitto Denko Corporation (Japan) are leading players in Structural Adhesive Tapes Market

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Lintec Corporation (Japan) and Nitto Denko Corporation (Japan) are leading players in Structural Adhesive Tapes Market

July 08
20:28 2021
Lintec Corporation (Japan) and Nitto Denko Corporation (Japan) are leading players in Structural Adhesive Tapes Market

Browse 274 market data Tables and 75 Figures spread through 313 Pages and in-depth TOC on “Structural Adhesive Tapes Market”
Structural Adhesive Tapes Market by Resin Type (Acrylics, Rubber, Silicone), Backing Material, End-Use Industry (Automotive, Healthcare, Electronics & Electrical, Renewable Energy, E-Mobility, Building & Construction), and Region

The global structural adhesive tapes market size is projected to grow from USD 7.6 billion in 2020 to USD 10.2 billion by 2026, at a CAGR of 4.1% during the forecast year. The global structural adhesive tapes market has witnessed consistent growth due to significant electrical & electronics, automotive, building & construction, and healthcare industries. Moreover, the significant growth of the pharmaceutical industry in developing countries and the demand for thermal management solutions are driving the structural adhesive tapes market. Along with this, the increasing demand for strong, superior quality, reliable, and accurate structural adhesive tapes and expansion of gigafactories across the globe are expected to offer opportunities for structural adhesive tape manufacturers

The structural adhesive tapes market is dominated by large players, such as 3M Company (US), Avery Dennison Corporation (US), Tesa SE (Germany), Nitto Denko Corporation (Japan), and Lintec Corporation (Japan). These players have adopted several strategies, such as acquisitions, agreements, and expansions, to enhance their market footprint and product portfolios.

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Owing to the COVID-19 pandemic, there has been a mixed impact on the structural adhesive tapes market across the globe. Various industries such as automotive, building & construction, electronics & electricals have witnessed significant slump. In contrast, the healthcare industry has witnessed growth since the outbreak owing to excessive demand for PPE kits and medical devices. Various companies such as 3M Company, Tesa SE, and Nitto Denko Corporation have started aggressive marketing of the product to expand the client base and mitigate the impact on business.

Most European and North American countries, especially Italy, Spain, the UK, France, the US, and Germany, are severely impacted by the COVID-19 pandemic. The suspension of manufacturing operations in several industrial sectors has resulted in a slump in overall structural adhesive tapes. Moreover, owing to the COVID-19 pandemic, the demand from the manufacturing sector had slumped sharply in the H-1 2020. This impact was further intensified by increasing the supply-demand gap in the supply chain and led to a sharp spike in raw material prices. However, during the pandemic period, the growing demand from the healthcare industry supports to offset the marginal decline in demand caused due to the slowdown in the manufacturing sector across the globe.

Lintec Corporation is focusing on R&D and manufacturing a variety of associated equipment, such as barcode printers, labeling machines, and semiconductor-related equipment, to maximize the qualities of tapes and label materials. In addition to adhesive-related items, the firm is focussing to develop and manufacture structural papers, such as color papers for envelopes and function papers, release papers and films, and casting papers. While offering base papers for release papers utilized for its adhesive materials. The company is in the process of combining four core technologies, such as adhesive applications, surface improvement, system development, and specialty papers and release materials production at a high level of competence to develop innovative, market-leading products. In addition to this, the company promotes a market-dialog style of R&D, in which its researchers visit the customers with sales representatives for direct communication. This enables the R&D, sales, and production sites to work in collaboration throughout the process of development and commercialization of the product.

Nitto Denko intends to concentrate on three areas: “third-generation connectivity,” “life science,” and “information interface.” The firm is now developing a 5G cellular network. It is expanding its presence in North America and Europe with an intention to strengthen its hold on the market. Simultaneously, the company is working to develop medical adhesive tapes for the wearable device market. These products are focused to solve day-to-day problems, including heat, sound vibrations, and electromagnetic waves. For instance, the advent of fifth-generation mobile communications system has provided the ability to gather & analyze data and create new values in each industrial sector. The company is engaged in the construction of devices that deal with problems in the field of mobility, such as heat, vibration, and electron magnetic waves.

Other companies have initiated the following developments:

  • In February 2019, Intertape Polymer expanded its manufacturing plant in Midland, North Carolina, by adding its second water-activated tape line. This expansion will increase the production of tapes by two folds.
  • In October 2019, 3M Company acquired Acelity Inc. and its KCI divisions, namely, Kinetic Concepts, Inc. (Texas, US). It is a leading global medical technology firm that focuses on specialist surgical applications and specialized wound management. KCI is a global producer of medical technology for wounds and wound healing.
  • In February 2021, Avery Dennison engaged in an agreement to buy JDC Solutions, Inc. (Tennessee, US), a pressure-sensitive specialty tapes maker, for around USD 24 million.

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