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The adhesives have a remarkable flexible advantage over the traditional methods, when used in the manufacturing of automotive components. The vehicles which were manufactured with adhesives perform better than welded vehicles in performance evaluations such as crash tests as the adhesives do not adversely affect the substrate after bonding. The adhesives allow manufacturing of light weight vehicle components. The advancements in technology are proving that adhesives can help in making the automobiles more energy efficient. These factors are leading to a rapid growth in the demand for adhesive tapes industry.
The adhesive market is also propelled by it skin friendly advantage. The diapers for infants and adults are manufactured with the help of adhesive tapes to better protect their skin. The growing awareness for environment issues is also fueling the market demand. This is because the water-based adhesives are relatively friendly to environment and reduce polluting waste. The introduction of recyclable tapes that are manufactured with biodegradable ingredients is further propelling the growth of market. The food and beverage industry is also showing increasing usage of adhesive tapes for packaging the products and accelerating the market demand.
The healthcare sector is also showing increasing application of the adhesive tapes. The surgical container, monitoring devices, wound dressing and other equipment utilize the adhesive tapes. On December 2020, 3M CO. (NYSE: MMM), a global leader in adhesive tapes market announced new 3M Hi-Tack silicon adhesive that can enhance the quality of life of patients using wearable medical devices that are required for long time. The advancements in technology such as this will further propel the demand for adhesive tapes market.
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The major players in the global adhesive tapes market are 3M Co., H.B. Fuller Company, LINTEC Corporation, Berry Global Inc., Nitto Denko Corporation, Bostik, Inc, and Sika AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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