Industrial tapes are used in various industrial operations mainly for the purpose of binding. These tapes are also used for conducting, masking and packaging purposes. Growing demand from packaging and construction industry is the primary driving factor of the Industrial Tape Market Size. Growth of the automobile industry is also fueling the demand of industrial tapes. Industrial tapes are largely used in vehicle assembly operations such as trim panel attachment, airbag cover attachment. However, fluctuations in raw material prices may hamper the growth of Industrial Tape Market Size.
Industrial tapes have significant market share in the adhesives market. Industrial tapes are used extensively to bond and seal many substrates such as elastomers, foams, glass, and metals among others. Such tapes enhances its strength, productivity, and durability. Industrial tapes can stand extreme conditions such as high temperature, cold, temperature cycling, light, and moisture.
Furthermore, it is witnessed that industrial tapes have found increasing adoption in vehicle assembly, electronic components assembly, heating ventilation air conditioning (HVAC) operations, insulation, packaging, and others. These are used for assembly and fabrication of products and components.
There are certain factors driving the growth of the market. Such tapes have found their way in the manufacturing of appliances. This along with the growth of the automobile industry is driving the industrial tapes market. Automobile manufacturing requires such tapes for attaching purpose during various operations. In addition to this, the industrial tapes have witnessed expansion in its application markets such as construction and aerospace. Governmental regulations are also seen getting stringer to protect the environment.
Segmentation
The Industrial Tape Market Size is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Product Type : Comprises Duct Tapes, Filament Tapes, Aluminium Tapes, Adhesive Transfer Tapes, and Other.
Segmentation By Tape Backing Material : Comprises Paper, Polypropylene, Polyvinyl Chloride and Others.
Segmentation By Application : Comprises Electrical And Electronic, Packaging, Masking, and Other.
Segmentation By End User : Comprises Electrical, Construction, Logistic, Automotive and others.
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Regional Analysis
Asia-Pacific dominates the global Industrial Tape Market Size followed by North America. The demand of the Industrial Tape Market Size is driven by the rapid growth in manufacturing sector as well as it is driven by an increase in disposable income among individuals with changing life style. This region is expected to grow at the fastest pace during the forecast period.
Over the past few years, Asian market growth has driven global growth and will continue to do so in the coming years but notably at a decelerating rate. Europe, which has seen moderate growth, is expected to see slightly higher growth in the future. North America is expected to grow in line with GDP, while South American and Africa & Middle East continue to be fairly steady, growing from very small bases.
Global Industrial Tape Market Size is projected to reach USD 61.73 billion by 2023, at a CAGR of 6.1% from 2017 to 2023.
The Dow Chemical Company (U.S.), Saint Gobain SA (France), 3M Company (U.S.), Henkel AG & Company, KGaA (Germany), Eastman Chemical Company (U.S.), Avery Dennison Corporation (U.S.), Ashland Inc. (U.S.), Sika AG (Switzerland), Pro Tapes & Specialties, Inc. (U.S.), and Von Roll Holding AG (Switzerland) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global market of Industrial Tape.
Read More :
Commenti