At 5.7 % CAGR, Industrial Tape Market Size Worth USD 15,029 Billion by 2030: MRFR - Digital Journal

2022-12-17 13:03:39 By : Ms. Linda Wang

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In addition, the global Industrial Tape Market is expected to rise at a CAGR of 5.7%, with a value of USD 15,029 billion over the projected quarters of 2022-2030. Composite Insulator

At 5.7 % CAGR, Industrial Tape Market Size Worth USD 15,029 Billion by 2030: MRFR - Digital Journal

Industrial tapes are manufactured from a sticky chemical film and a backing substance. They’re utilized for various tasks in the workplace, including adhesive bonding, masking, packing, wrapping, and electrical sealing. Compared to ordinary tapes, they have a higher adhesive strength and can be used to attach heavy materials, including concrete, glass, wood, rubber, and metal. There are sticky, non-adhesive, and special-purpose tapes available. While adhesive industrial tapes are commonly used to bind various items, non-adhesive and special-purpose tapes are employed for tasks such as thread sealing, electrical insulation, welding, thermal protection, and friction reduction.

The widespread use of industrial tapes in the packaging, automotive, medical, and construction industries, owing to several advantageous qualities such as water/shock resistance and high peel and tensile strength, is the primary driver of the global market. These tapes serve as a low-cost alternative to mechanical fasteners like nuts and screws while also improving the aesthetic appeal of a product and concealing any visible joints and attachments. Furthermore, they are commonly used in the manufacture of electrical equipment due to their shock and water resistance.

Furthermore, government rules encourage the manufacture of zero-residue, environmentally friendly, and biodegradable tapes to reduce carbon emissions. Additionally, manufacturers are increasingly selecting industrial tapes produced from environmentally friendly materials like natural rubber and acrylic, fueling market expansion.

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The global industrial tape market has been segmented into product type, application, tape backing material, end-use, and regional basis. With the product type, the market is divided into four sections: duct tapes, filament tapes, aluminum tapes, and adhesive transfer tapes. The market is divided into three parts: paper, polypropylene, and polyvinyl chloride with the tape backing material. As per the application, the industrial tape market is divided into three sections electrical and electronic, packaging, and masking. On a regional basis, the global market is further classified into five sections Asia-pacific, North America, South America, Europe, and Middle East & Africa.

Asia-Pacific has long led the industrial tape market, and this trend is expected to continue during the forecast period. Due to the huge production of appliances and health care products, Japan is one of the most important markets for adhesive tapes. Furthermore, automobile manufacturing will continue to rise due to rising demand in the passenger car market. ​

Over the last two years, China’s medical and therapeutically market has experienced considerable growth, owing to an increase in hospitals and the need for medical support. China is the world’s largest electronics manufacturing center. Televisions, cables, wires, portable computer devices, smartphones, gaming systems, and other personal electronic devices grew the fastest in the electronics market.

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The industrial tape market for sticky tapes is quite competitive. H.B Fuller Company, Saint Gobain SA, Ashland Inc., Avery Dennison Corporation, Sika AG, Eastman Chemical Company, The DOW Chemical Company, Henkel AG & Company KGaA, VON Roll Holding AG, The 3M Company, and others are some of the prominent participants in the industry.

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At 5.7 % CAGR, Industrial Tape Market Size Worth USD 15,029 Billion by 2030: MRFR - Digital Journal

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