New York, NY, Sept. 12, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Industrial Tapes Market by Product Type (Aluminum Tapes, Filament Tapes, and Others), by Tape Backing Material (Paper, Polyvinyl Chloride, Polypropylene, Fiberglass, Glass Cloth, Fabrics, Polyimide, Polyester, PTFE, and Medical Grade Cloth), and by Application (Electrical Industry, Logistics Industry, Automotive Industry, Construction Industry, Manufacturing Industry, Electronics Industry, and Aerospace Industry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024”. According to the report, global industrial tapes market was valued at approximately USD 48579.2 million in 2017 and is expected to generate revenue of around USD 73839.8 million by the end of 2024, growing at a CAGR of around 6% between 2018 and 2024.
Industrial tapes are used for the heavy duty applications in the industry as they require a sustainable range of tapes. These types of tapes are majorly used for the binding purpose in various industrial operations. Industrial tapes are used for attaching various components which includes foams, lighting fixtures, and cushions. Growing industrialization leads to the rising demand for the industrial tapes in the manufacturing, medical device manufacturing market, food, and beverages market, and others which positively influence the market growth. Moreover, physical and chemical properties such as elasticity, durability, resistance to the chemicals, moisture, & temperature, and high productivity boost the sale and growth of the market across the globe. In addition to this, an increase in the use of industrial tapes in the number of applications due to its adhesive property is also driving the market growth.
Browse through 81 Tables & 31 Figures spread over 110 Pages and in-depth TOC on “Global Industrial Tapes Market: Product, Material, Application, Size, Share, Analysis and Forecast, 2016 – 2024”.
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On the basis of product type, industrial tapes market is bifurcated into aluminum tapes, filament tapes, and others. Filament tapes segment within the product type accounted a major share in 2017 and is anticipated to continue its dominance during the forecast period. Rising demand for the applications such as strapping for large-scale packaging and carton sealing is expected to boost market growth for filament tapes.
Based on the tape backing material, the market is segmented into paper, polyvinyl chloride, polypropylene, fiberglass, glass cloth, fabrics, polyimide, polyester, PTFE, and medical grade cloth. Polypropylene segment within the tape backing material dominated the market in 2017 and is estimated to continue its supremacy during the forecast period. Polypropylene is considered to be the inexpensive material offering a low coefficient of friction and high flexural strength, which in turn makes it ideal backing material parallelly propelling the market growth.
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On the basis of application, the market is divided into the electrical industry, logistics industry, automotive industry, construction industry, manufacturing industry, electronics industry, and the aerospace industry. The automotive industry is anticipated to remain dominant during the upcoming years. As the industrial tape helps in improving the overall stability and agility of the vehicle it has an increased application in the automotive sector.
The Asia Pacific accounted for a major revenue share in 2017 and is projected to continue with this trend during the forecast period. The growth is accredited to the growing urbanization and industrialization. The region has a huge automobile and electronics industry which is further positively influencing the market growth. Moreover, increasing manufacturing facilities coupled with rising demand for industrial tapes in the emerging countries such as China, India, and Indonesia is driving the market growth in the region.
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Regionally, North America accounted for the second largest market share in 2017 and is anticipated to continue with this trend during the forecast period. The growth is attributed to the growing urbanization and industrialization coupled with the increasing manufacturing bases are major factors influencing the industrial tapes market in the region.
Browse the full "Industrial Tapes Market by Product Type (Aluminum Tapes, Filament Tapes, and Others), by Tape Backing Material (Paper, Polyvinyl Chloride, Polypropylene, Fiberglass, Glass Cloth, Fabrics, Polyimide, Polyester, PTFE, and Medical Grade Cloth), and by Application (Electrical Industry, Logistics Industry, Automotive Industry, Construction Industry, Manufacturing Industry, Electronics Industry, and Aerospace Industry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024"report at https://www.zionmarketresearch.com/report/industrial-tapes-market
The key players operating in the global industrial tapes market include Eastman Chemical Company, Adhesive Applications, Shurtape, Von Roll Holding AG, Avery Dennison, Saint-Gobain SA, Henkel AG & Company KGaA, The Dow Chemical Company, Berry Plastics, Ashland Inc., Advanced Flexible Composites, Merck Group, Sika AG, Microseal Industries, and H.B Fuller. The other players include Essentra Specialty Tapes, FLEXcon, Navilux, Intertape Polymer, Coating, and Converting Technologies, Adhesives Research, MACtac, Lamart, PPI Adhesive Products, Scapa Group, DeWAL Industries, TaraTape, Chomerics, CTT, Achem, Syntac Coated Products, Adchem, and Necal. These players adopt strategies such as agreements, collaborations, new product launch, partnerships, for acquiring a high position in the global market.
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This report segments the industrial tapes market as follows:
Industrial Tapes Market: Product Type Segment Analysis
- Aluminum Tapes
- Filament Tapes
- Others
Industrial Tapes Market: Tape Backing Material Segment Analysis
- Paper
- Polyvinyl chloride
- Polypropylene
- Fiberglass
- Glass Cloth
- Fabrics
- Polyimide
- Polyester
- PTFE
- Medical Grade Cloth
Industrial Tapes Market: Application Segment Analysis
- Electrical Industry
- Automotive Industry
- Construction Industry
- Manufacturing Industry
- Aerospace Industry
- Electronics Industry
Industrial Tapes Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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