Global Industrial Tape Market Size, Share, Growth, Analysis, Future Scope: by Product Type (Duct Tapes, Filament Tapes, Aluminum Tapes, Adhesive Transfer Tapes), Tape Backing Material (Paper, Polypropylene, Polyvinyl Chloride), Application (Electrical and Electronic, Packaging, Masking,), End-User, and Region – Global Forecast to 2023
Industrial Tape Market Overview
The global industrial tape market is expected to witness a higher growth in the upcoming years. Wide application of industrial tapes in the electronics industry for automobile and consumer electronics paves a way for market growth in the years to come. The market is anticipated to exhibit 6.5% CAGR from 2017 to 2023 (forecast period), as per the predictions of Market Research Future (MRFR).
Industrial tapes are adhesive cum packaging tapes that serves to a wide variety of industrial needs such as masking, bundling and surface protection. Being an indispensable product from the commercial as well as industrial point of view, it enjoys a broader usage scope. ORAFOL Americas is an American subsidized company, and a recognized global manufacturer of premium vinyl graphic products and solutions. Recently, the company unveiled five new products for immediate use for automotive sign or display applications. Namely, the products are ORABOND 1852, ORABOND ultra-high 3594, ORABOND ultra-high bond 3595, ORABOND ultra high bond 3602 and ORABOND ultra high bond 3603.
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Technological advances, significant investments, merger and acquisition and product launchers are some of the key strategies adopted by the major players. Major players in the global industrial tape market are The Dow Chemical Company (U.S.), Henkel AG & Company, KGaA (Germany), Ashland Inc (U.S.), SIka AG (Switzerland), Pro Tapes & Specialties, Inc (U.S.), Shurtape Technologies LLC (U.S), Scapa Group plc (U.K), Sicad Group (Italy), and Advance Tapes International Ltd (U.K)
Industrial Tape Market Segmentation
Global industrial tape market is segmented based on product, application, end-use and region. Product segment comprises duct tapes, filament tapes, adhesive transfer tapes and aluminum tapes. Duct tapes is predicted to continue dominating the market growth owing to their durability, adhesive strength and water-resistant nature.
Based on the tape backing material, the market is segmented into polyvinyl chloride, paper, polypropylene, and others. Polypropylene dominated the market in 2016 and is anticipated to be the fastest-growing tape backing material segment for industrial tape. The demand for the polypropylene can be credited to its inexpensive nature and high flexural strength.
Based on the application, the market is segmented into masking, electrical and electronic, packaging, and others. Packaging was the leading segment in 2016 and predicted to witness a phenomenal growth over the forecast period. The dominant position of the segment is due to the increasing demand for applications such as strapping and carton strapping for large-scale packaging.
Based on the end-user, the market is segmented into automotive, logistic, electrical, construction, and others. Automotive segment is expected to grow at a stellar CAGR over the forecast period. The dominant position in this segment is due to the large application of the industrial tape and advancement in the eco-friendly production of the tapes. Also, industrial tapes in the automotive sector help to reduce the overall body weight of the vehicle and make the vehicle more reliable and safer to drive.
Asia Pacific remained a dominant market in 2016 due to high presence of industries and industrialization trends. Rise in disposable income is another major factor leading to rise in buying capacity of consumers.
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Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Industrial Tapes Market, By Product Type
4.1 Duct Tapes
4.2 Filament Tapes
4.3 Aluminum Tapes
4.4 Adhesive Transfer Tapes
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