Dublin, April 29, 2024 (GLOBE NEWSWIRE) -- The "Global Fire Resistant Tapes Market by Coating Type, Type (Nomex, Acetate, PPS, Glass Cloth, PVC, Polyimide), End-Use Industry (Building & Construction, Electrical & Electronics, Automotive, Aerospace & Defense), & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Fire Resistant Tapes Market is estimated at USD 0.8 billion in 2023 and is projected to reach USD 1.1 billion by 2028, at a CAGR of 6.0% from 2023 to 2028
The scope of the report includes detailed information about the major factors influencing the growth of the Fire Resistant Tapes Market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, key strategies, contracts, partnerships, and agreements. New product and service launches, mergers and acquisitions, and recent developments in the Fire Resistant Tapes Market are all covered. This report includes a competitive analysis of upcoming startups in the Fire Resistant Tapes Market ecosystem.
Single coated fire resistant tapes are more adaptable, affordable, and suitable for a range of applications where flame resistance is only required on one side. These tapes are the favored option for many industries since double coated tapes, which have flame-retardant coatings on both sides, are usually more expensive. Single coated tapes are also widely used as they provide consistent adherence to a variety of surfaces and meet strict fire safety regulations.
Asia Pacific is the fastest-growing market for fire resistant tapes. The market for fire resistant tapes in the region is driven by the rising income level of the middle-class population and increasing government investments, especially in the building & construction, electrical & electronics, and automotive sectors. Asia Pacific is increasingly becoming an important trade and commerce center.
With economic contraction and saturation in the European and North American markets, the market is shifting to Asia Pacific. Manufacturers of fire resistant tapes are targeting this region as it has the largest construction industry, accounting for approximately 40% of the construction spending, according to the World Bank.
Prominent companies include 3M (US), Scapa Group Ltd.(UK), Avery Dennison Corporation (US), Nitto Denko Corporation (Japan), Saint Gobain (France), Shurtape Technologies LLC. (US), Tesa SE (Germany), Americover Inc. (US), Boyd Corporation (US), Rogers Corporation (US), Tape-Pak Inc. (US), Nichiban Co. Ltd. (Japan).
In terms of value, Nomex type to register the highest CAGR in the overall Fire Resistant Tapes Market
Nomex fire resistant tapes are well-known for their superior thermal stability and flame resistance, making them perfect for high-temperature applications. As Nomex tapes are naturally resistant to flames, they provide protection in settings where fire threats are present. These tapes offer a protective barrier against severe heat from flash fires and electric arcs and are widely employed in thermal protection clothing in industries such as petroleum, petrochemicals, and utilities.
In terms of value, automotive industry to register the highest CAGR in the overall Fire Resistant Tapes Market
The market for fire resistant tapes in the automotive industry is expected to grow, driven by the increasing demand for electric and hybrid vehicles. Fires in electric vehicles (EVs) are less common than in combustion engine vehicles, but it Is crucial to protect occupants and delay the spread of fire in the battery pack. This can be achieved by choosing and deploying proper fire protection materials throughout the battery pack.
The growing EV market offers opportunities for material suppliers to ensure safer battery packs in various segments, including buses, trucks, vans, scooters, and motorcycles. India's EV market has experienced safety issues, with fires in electric scooters leading to recalls. To enhance safety in micromobility, governing bodies are updating standards, focusing more on EV battery safety. These updates include using approved cells and considering battery design features like inter-cell spacing.
The report provides insights on the following pointers:
- Analysis of key drivers (Increasing demand from building & construction applications, increasing use of fire resistant materials in various industries, high demand for fire resistant tapes in electric vehicles), restraints (high processing and manufacturing costs, lack of standardization in manufacturing technologies, material compatibility), opportunities (technological advancements and innovation, rapid industrialization in developing countries), and challenges (Developing low-cost technologies, demand for eco-friendly fire resistant tapes, changing regulations and standards) influencing the growth of the Fire Resistant Tapes Market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Fire Resistant Tapes Market
- Market Development: Comprehensive information about lucrative markets - the report analyses the Fire Resistant Tapes Market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Fire Resistant Tapes Market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 217 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $0.8 Billion |
| Forecasted Market Value (USD) by 2028 | $1.1 Billion |
| Compound Annual Growth Rate | 6.0% |
Companies Featured
- 3M
- Scapa Group Ltd.
- Avery Dennison Corporation
- Berry Global Inc.
- Nitto Denko Corporation
- Saint-Gobain
- Shurtape Technologies, LLC
- Tesa Se
- Americover, Inc.
- Boyd
- Rogers Corporation
- Tape-Pak, Inc.
- Nichiban Co., Ltd.
- Chinastars
- Aris Polymer Adhesive Tape Private Limited
- Chukoh Chemical Industries, Ltd.
- Dr. Shrink Inc.
- Adhtapes
- Nsi Industries
- Shushi Group Co., Ltd.
- Zhejiang Maxwel Insulation Technology Co., Ltd.
- Teraoka Seisakusho Co., Ltd.
- Aerotape
- Eki
- Shaoxing Kaicheng Mica Material Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/f04kjy
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