Global Industrial Tapes Market: Overview
“The global Industrial Tapes market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Industrial tapes are used in many different applications such as bonding, masking, sealing, packaging, wrapping, electrical insulation, and other specialized applications. Industrial tapes have unique properties i.e. advance in adhesive technology, ease of use, and high level of adhesive strength compared to normal conventional tapes.
Global Industrial Tape Market: Dynamics
by industrial tapes offer various advantages and features such as physical and chemical properties, high productivity, moisture & high temperature resistance, is a key factor expected to boost adoption of these tapes and drives growth of the target market over the forecast period.
In addition, increasing adoption of industrial tape in the rapidly growing automotive industry and increasing research and development activities for technologically advanced solvent-free, environmentally-friendly products, are expected to fuel the target market over the forecast period.
Moreover, rising application scope in the electrical & electronics and construction industries is another major factor estimated to support revenue growth of the potential market in the next 10 years.
The latest trend shows that manufacturers are focusing on the application of industrial tapes for operations such as electronic components assembly, vehicle assembly, heating ventilation air conditioning (HVAC) operations, and packaging.
Moreover, for overall stability and agility of the vehicle, along with increasing replacement of screws and fasteners with industrial adhesives is another emerging trend in the global market.
However, fluctuating raw material prices could hamper the growth of the global industrial tapes market.
Global Industrial Tapes Market: Segment Analysis
Global industrial tapes market is segmented on the basis of product type, backing material, application, and geography.
On the basis of product type, the global market is segmented into aluminum tapes, filament tapes, and others. The filament tapes segment is expected to hold a significant share in the market over the forecast period owing to large-scale packaging and carton sealing.
By backing material, the global Industrial Tapes market is segmented into paper, cloth/fabric, polymeric, and metallic. The polymeric backings segment accounts for major market share in terms of revenue and is expected to maintain its dominance over the forecast period.
On the basis of application, the automotive segment is projected to contribute larger share in the global market.
Industrial Tapes Market: Region Analysis
The market in the Asia Pacific is projected to register the fastest growth in terms of revenue during the forecast period. Growth in the huge automobile and electronics industry, along with industrialization is expected to offer growth opportunities for the target market.
High demand for automobiles and changing consumer lifestyles in emerging countries such as China and India in the region, are some of the other factors expected to favors industrial tapes market positively.
In addition, increasing manufacturing facilities, increasing disposable income, and rising demand for industrial tapes, are expected to drive the growth of the target market.
The market in North America and Europe is expected to witness moderate growth in the target market in terms of revenue over the forecast period, owing to increasing adoption of advanced material technology.
Global Industrial Tapes Market Segmentation:
Segmentation by Product Type:
- Aluminum Tapes
- Filament Tapes
- Others (Duct Tapes, Adhesive Transfer Tapes)
Segmentation by Backing Material:
- Polymeric (PE, PP, PVC)
- Metallic (Aluminum, Copper)
- Electrical & Electronics
- Others (Oil & Gas, Food & Beverage, Marine)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Dow Chemical Company
- Saint Gobain S.A.
- 3M Company
- Henkel AG & Company KGaA
- Eastman Chemical Company
- Avery Dennison Corporation
- Ashland Inc.
- Sika AG
- B Fuller Company
- Von Roll Holding AG.
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