New York, United States, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Global Industrial Tapes Market Size to Grow from USD 55.9 Billion in 2022 to USD 111.3 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period.
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Sticky materials known as industrial tapes were developed specifically for a variety of industrial uses. These tapes are made to provide strong adhesion, durable use, and resistance to environmental factors like temperature, moisture, chemicals, and UV rays. They are employed in a wide range of jobs in the construction, manufacturing, automotive, aerospace, and electronics industries. Wires and other components are covered with insulating tape. It provides electrical insulation as well as protection against abrasion and moisture. In the construction, automotive, and electronics industries, foam tapes are used to close gaps, lessen vibrations, and provide cushioning or insulation. They also have a backing that resembles foam. The demand for cost-efficient and reliable bonding solutions has increased across industries, which has led to steady market growth for industrial tapes.
COVID 19 Impact
The pandemic's interruption of the world's supply chains delayed the production and distribution of industrial tape. Lockdowns, industrial closures, and transit restrictions had an influence on the ability to create and supply cassettes as well as the accessibility of raw materials. Some important industrial users, such as the automotive and construction industries, saw a decline in demand for industrial tapes as a result of lockdowns and economic uncertainty. As a result, orders for industrial tapes decreased in these sectors. Variations in the price of raw materials, particularly petrochemical-based components used in adhesives, made it more difficult for tape manufacturers to control costs. Due to the pandemic's increased emphasis on cleanliness and hygiene, sticky tapes are now used more frequently in cleaning and sanitation-related applications, particularly in the healthcare industry.
Industrial tape producers and sellers now have access to consumers in remote or underdeveloped areas of developing countries via e-commerce platforms. Businesses and customers in these areas now have access to a wider choice of industrial tape products as a result. Foreign producers of industrial tape now have an easier time breaking into emerging countries because to e-commerce. These manufacturers may now sell their items directly to customers in these locations, frequently at reasonable prices. Thanks to e-commerce, purchasing industrial tape is now easier for businesses. They no longer require face-to-face interactions with distributors or suppliers to make orders, follow shipments, or get customer support. In developing countries, logistics issues are frequent, such as an inadequate transportation infrastructure.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on the "Global Industrial Tapes Market Size By Product (Filament Tapes, Aluminum Tapes, Duct Tapes), By Backing Material (Polypropylene, Paper, Polyvinyl Chloride), By End-User (Manufacturing Industry, Automotive Industry, Logistics Industry), By Geographic Scope And Forecast, 2022 - 2032."
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Insights by Product
The duct tapes segment accounted for the largest market share over the forecast period 2023 to 2032. Duct tape is frequently used for sealing, repairing, and holding various materials together in the building and maintenance industries. The growth of these sectors, driven by infrastructure and building developments, raises the demand for duct tapes. Due to the growth of e-commerce platforms, users and businesses now have easier access to a large variety of duct tapes. Online retailers offer a convenient way to purchase these tapes in a variety of sizes and colours. Producers and retailers frequently offer educational resources and tutorials to persuade customers to learn more about the uses of duct tape.
Insights by Backing Material
The Paper segment accounted for the largest market share over the forecast period 2023 to 2032. To seal cartons and boxes, paper tapes are extensively used in the packaging industry. Due to the growth of e-commerce and the increased need for eco-friendly packaging choices, the market for paper tape is expanding. Paper tapes with specific use in mind, such painter's tape or masking tape, are available. These tapes may become more necessary as the building and home improvement industries develop. Some paper tapes can withstand high temperatures, making them suitable for electrical, automotive, and industrial applications where heat resistance is required.
Insights by End User
The Paper segment accounted for the largest market share over the forecast period 2023 to 2032. Current infrastructure development projects, such as those involving roads, bridges, airports, and public buildings, are what fuel the market for construction-related tapes. These tapes can be used for sealing joints, insulation, and bonding materials. Insulation, waterproofing, and the sealing of windows, doors, and HVAC (heating, ventilation, and air conditioning) systems are just a few of the many uses for which tapes are utilised throughout the building of both residential and commercial structures. The demand for construction tape is increasing as the housing industry grows.
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Insights by Region
North America is anticipated to dominate the Industrial Tapes market from 2023 to 2032. It has experienced steady growth over time as a result of the presence of a robust manufacturing sector, construction activity, and demand from industries like the automobile and aerospace. Industrial tapes are utilised throughout several different industries in North America. These include the packaging, construction, automotive, electronics, aerospace, healthcare, and other industries. Tapes can be used for a variety of purposes, such as sealing, bonding, and insulation.
Asia Pacific is witnessing the fastest market growth between 2023 to 2032. The region's expansion is facilitated by construction projects, strong manufacturing and industrial sectors, and growing electronics and automotive industries. In the Asia-Pacific area, industrial tapes are used in the automotive, electronics, construction, packaging, healthcare, and other industries. These tapes are employed for sealing, bonding, sealing, and masking. Two of the major players in the Asia-Pacific region's automobile manufacturing sector are China and Japan. Industrial tapes are frequently used in the automotive industry for assembly, bonding, noise reduction, and vibration dampening tasks.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Players In the Global Industrial Tapes Market Include 3M Company, Avery Dennison Corporation, Tesa SE, Nitto Denko Corporation, Intertape Polymer Group Inc., Shurtape Technologies, LLC, Scapa Group plc, Lintec Corporation, Berry Global, Inc., Saint-Gobain S.A. And Other Key Vendors.
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Recent Market Developments
- In January 2022, The 3M Company has introduced new double-coated tape that is intended for use in interior car applications.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Industrial Tapes Market, Product Analysis
- Filament Tapes
- Aluminum Tapes
- Duct Tape
Industrial Tapes Market, Backing Material Analysis
- Polypropylene
- Paper
- Polyvinyl Chloride
Industrial Tapes Market, End User Analysis
- Manufacturing Industry
- Automotive Industry
- Logistics Industry
Industrial Tapes Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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