DUBAI, United Arab Emirates, March 29, 2022 (GLOBE NEWSWIRE) -- Corrosion protection tapes are surface protection tapes infused with anti-corrosive materials which are covered around metal components suitable for wide-ranging usage in various industries. According to a new Future Market Insights (FMI) report, the corrosion protection tapes market is set to grow at a 4.4% CAGR.
| Corrosion Protection Tapes Market Size (2022) | US$ 1.2 Bn | |
| Projected Market Value (2031) | US$ 1.8 Bn | |
| Global Market Growth Rate (2022-2031) | 4.4% CAGR | |
| Collective Value Share: 3 Countries (2022) | 39% | |
Corrosion protection tapes protect metal surfaces against corrosion and UV rays. These products offer various features including water resistance, easily applicability, and high shear resistance on welded joints and bends.
To Remain ‘Ahead’ of Your Competitors, Request for A Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13244
Also, corrosion protection tapes are cost-effective as compared to other adhesive alternatives which led to higher user adoption in the industrial sector. In recent years, corrosion protection tapes are gaining popularity due to high adhesive strength and excellent resistance to rust.
The sales and consumption of corrosion protection tapes is estimated to increase owing to the expansion of industries such as chemicals, automobiles, and building & construction in next decade.
Benefits offered by corrosion protection tapes include excellent electro insulation, flame retardant properties, and temperature resistance, which is projected to experience significant demand in the global market.
Key Takeaways from Corrosion Protection Tapes Market
- PVC is a high-strength thermoplastic material that is widely used for making anti-corrosion tapes. It is estimated to lead the market accounting for more than 50% by the end of 2031.
- The building and construction segment is expected to offer an incremental opportunity of US$ 216 Mn in the next decade, with fitting and sealing applications supporting growth.
- Germany and the U.K have emerged as major markets in Europe, supported by the availability of production facilities, accounting for 14.4% and 13.5% of the market in 2021.
- The U.S. accounts for 84% of the North America market, driven by robust supply chains in the industry.
- China holds the lead in East Asia accounting for more than 63% of the region on the back of a burgeoning construction sector.
For critical insights on this market, request to ask an expert here @ https://www.futuremarketinsights.com/ask-question/rep-gb-13244
“Market leaders and small-scale manufacturers in the corrosion protection tapes market are likely focusing on expanding production capacities and presence in emerging economies. Industrialization recorded in emerging nations, will creative attractive opportunities for corrosion protection tapes sales,” says an FMI analyst.
Impact of COVID-19 on Corrosion Protection Tapes Market
Amidst the COVID-19 pandemic, the corrosion protection tapes market went through a moderate slump as demand for corrosion protection tapes is largely derived from industrial sectors like building and construction, automobile, chemical, and others.
Rigorous lockdown in several regions including North America, East and South Asia, and Europe has created a negative impact on these industries in terms of demand and supply. Lesser demand generation for corrosion protection tapes was witnessed amid the COVID-19 period.
For More Information or Query or Customization Before Buying, Visit: https://www.futuremarketinsights.com/customization-available/rep-gb-13244
Recovery from the current pandemic is anticipated to maximize the sales of corrosion protection tapes in the years to come.
Who is Winning?
3M Company, Nitto Denko Corp., and Berry Global Inc. are the top players operating in the corrosion protection tapes market. Furthermore, include Shurtape Technologies, LLC, Coroplast Fritz Müller GmbH & Co. KG, W. W. Grainger, Inc., Scapa Group plc are some of the leading players in the market.
Tier 3 players include DEHN + SÖHNE GmbH + Co. KG., PSI Products GmbH, and VANOS S.A hold 70-75% of the global corrosion protection tapes market share. In conclusion, key players contribute almost 25-30% of the global market.
To Buy this Report Visit @ https://www.futuremarketinsights.com/checkout/13244
Corrosion Protection Tapes Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global corrosion protection tapes market, analysing historical demand from 2015-2021 and forecast statistics for 2022-2031. The study reveals growth projections on the corrosion protection tapes market based on material (poly vinyl chloride (PVC), polyethylene (PE), polypropylene (PP), and rubber) and end-use (building & construction, chemical, electrical & electronics, automobile, aerospace & defence, marine, and others) across seven regions.
Explore wide-ranging Coverage of FMI's Packaging Market Insights Landscape
Blow Fill Seal Equipment Market – The global blow-fill-seal equipment market is projected to expand at a CAGR of 5.9% by the end of the forecast period (2022-2028).
Tableware Market – The global tableware market is estimated to reach a valuation of US$ 44.5 Bn in 2022 and is projected to surpass US$ 76.8 Bn by 2032, at a CAGR of 5.6% from 2022 to 2032.
Tape Dispenser Market – The global tape dispenser market could be termed as a progressive one, reaching US$ 7.3 Bn by the year 2030 at a CAGR of 4.4% between 2022 and 2030.
Confectionery Packaging Market – The confectionery packaging market is estimated at US$ 10.9 billion in 2022 and is projected to reach US$ 13.2 billion by 2027, at a CAGR of 3.3% from 2015 to 2021.
Bioplastics For Packaging Market – The bioplastics for packaging market is estimated at USD 10.5 billion in 2022 and is projected to reach USD 16.6 billion by 2027, at a CAGR of 9.5% from 2013 to 2021.
Bag Closures Market – Worldwide bag closure sales are valued at around US$ 205 Mn for 2022. The global bag closures market is poised to expand at 5.7% CAGR and reach US$ 311 Mn by the end of 2030.
Tarpaulin Sheets Market – The global tarpaulin sheets market is bound to witness a seismic growth between 2022 and 2031 at a CAGR of 4.6%, reaching 12.1 Bn by the year 2031.
Packaging Films Market –The global packaging films market is estimated at US$ 143.7 billion in 2022 and is projected to reach US$ 209.7 billion by 2032, at a CAGR of 3.9% from 2022 to 2032.
Hang Tags Market – The global hang tags market is expected to account for US$ 2.8 Bn by the year 2031 at a CAGR of 5.1%.
Steel Drum Market - The global steel drum market is projected to witness linear growth between 2022 and 2031 at a CAGR of 4.9%, reaching US$ 18.6 Bn by the year 2031.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centres in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/corrosion-protection-tapes-market
