August 25, 2021 06:40 ET | Source: ReportLinker ReportLinker

New York, August 25, 2021 (GLOBE NEWSWIRE) - Reportlinker.com announced the release of the report "Global Structural Tape Market Analysis and Trends-Industry Forecast for 2028"-https://www.reportlinker.com/p06127625 /?utm_source= GNW 1%, from 2020 to 2028. Some of the outstanding trends that the market is witnessing include innovation in electric vehicles, strong growth in the automotive industry, and increasing public-private infrastructure development cooperation. Global structural tape market: Market dynamics The growing demand for lightweight vehicles is promoting the growth of the global structural tape market because these tapes reduce the weight of vehicles. These tapes improve the safety and performance of the vehicle. In addition, government standards and regulations that improve fuel efficiency encourage the use of structural tape in automobiles. Other factors driving market growth are the increase in government relief programs to strengthen the healthcare system in response to COVID-19, and the increasing use of structural tape in the aerospace and marine industries. On the other hand, fluctuations in raw material prices and fierce competition in commodity tapes may hinder profit margins. In addition, the upcoming expansion of battery super factories in major electric vehicle manufacturing centers will further promote the development of the structural tape market. The impact of COVID-19 on structural tapes During the pandemic, the impact on the global structural tape market has been mixed. There has been a sharp decline in various industries. Due to the high demand for personal protective equipment (PPE) kits and medical equipment, the healthcare industry has seen growth since the pandemic. Many companies have begun to actively market the product to expand the customer base and reduce the impact on the business. In order to reduce the impact of the COVID-19 outbreak and strengthen the healthcare industry, the European Union has planned to allocate budgets to different European countries. Initiatives in the healthcare sector include purchasing professional medical and personal protective equipment, expanding research capabilities, recruiting additional staff and welfare payments, providing assistance to hospitals and local governments, and donating vaccine production. These multiple applications in the healthcare industry and government allocated funds have promoted the structural tape market in the global healthcare industry. Acrylic market segment by resin type will dominate the market in 2020. Due to the low price of acrylic structural tape and the growing electrical and electronic, healthcare and sanitation and automotive industries in the region, the acrylic market segment has achieved huge revenue in 2020. And it has become increasingly prominent during the forecast period. The characteristics of acrylic structural tape make it more popular in many countries, which have very strict environmental regulations on solvent-based technology. The Asia-Pacific region is a leader in the global market by geographic location. Due to the growth of the automotive industry in Asian countries and the existence of the largest shipbuilding companies, the Asia-Pacific region may have huge demand during the forecast period. In addition, due to the cost-effective workforce, the auto industry is expected to expand in the region. The growing retail industry in these countries further supports the growth of the market in this region because it is a booming market for manufacturers that provide technologically advanced packaging solutions for the retail and food and beverage industries. The list of major players in the market includes: • Tesa SE • Scapa Group Ltd. • Nitto Denko Corporation • Lintec Corporation • Intertape Polymer Group, Inc. • Avery Dennison Corporation • 3M Company • Saint-Gobain Performance Plastics Corporation • Sika AG • Lord Corporation • Henkel AG & Co. • Huntsman International LLC • Illinois Tool Works Inc. • The Dow Chemical Company • Bostik The list of regions/countries on the market includes: North America • USA • Canada • Mexico and Europe • Germany • UK • Italy • France • Spain • Rest of Europe Asia Pacific • China • Japan • India • Australia • New Zealand • Rest of Asia Pacific Middle East • Saudi Arabia • United Arab Emirates • Middle East Rest of Latin America • Argentina • Brazil • Rest of Latin America Rest of the World (RoW) • South Africa • Others read the full report: https://www.reportlinker.com/p06127625/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so that you can get all the market research you need instantly in one place. __________________________