Industrial tapes are used in various industrial operations mainly for the purpose of binding. These tapes are also used for conducting, masking and packaging purposes. Growing demand from packaging and construction industry is the primary driving factor of the industrial tape market. Growth of the automobile industry is also fueling the demand of industrial tapes. Industrial tapes are largely used in vehicle assembly operations such as trim panel attachment, airbag cover attachment. However, fluctuations in raw material prices may hamper the growth of industrial tape market.
Global Industrial Tape Market is projected to reach USD 61.73 billion by 2023, at a CAGR of 6.1% from 2017 to 2023.
According to a recent study report published by the Market Research Future, The global market of Industrial Tape is projected to gain prominence over the forecast period owing to its various industrial applications across the globe. The Market is forecasted to witness a phenomenal growth by 2023; with a striking CAGR during forecast period 2017-2023. The global Physical Security market is expected to grow at USD 61.73 Billion by 2023, at ~6 % of CAGR between 2017 and 2023.Technological advancement and increasing demand for effective and advance technology-based products is anticipated to boost the market size of Industrial Tape market.
Industrial tapes are used in various industrial operations mainly for the purpose of binding. These tapes are also used for conducting, masking and packaging purposes. Growing demand from packaging and construction industry is the primary driving factor of the industrial tape market. Growth of the automobile industry is also fuelling the demand of industrial tapes. Industrial tapes are largely used in vehicle assembly operations such as trim panel attachment, airbag cover attachment. However, fluctuations in raw material prices may hamper the growth of industrial tape market.
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Industrial Tape Global Market - Segmentation
The Industrial Tape Market is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Product Type : Comprises Duct Tapes, Filament Tapes, Aluminum Tapes, Adhesive Transfer Tapes, Water Contact Indicator Tape and Other.
Segmentation By Tape Backing Material : Comprises Paper, Polypropylene, Polyvinyl Chloride and Others.
Segmentation By Application: Comprises Electrical And Electronic, Packaging, Masking, and Other.
Segmentation By End User: Comprises Electrical, Construction, Logistic, Automotive and others.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Regional Analysis of Global Industrial Tape Market
Asia-Pacific dominates the global industrial tape market followed by North America. The demand of the industrial tape market is driven by the rapid growth in manufacturing sector as well as it is driven by an increase in disposable income among individuals with changing life style. This region is expected to grow at the fastest pace during the forecast period.
Key Players
The key players of global industrial tape market include The Dow Chemical Company (U.S.), Saint Gobain SA (France), 3M Company (U.S.), Henkel AG & Company, KGaA (Germany), Eastman Chemical Company (U.S.), Avery Dennison Corporation (U.S.), Ashland Inc. (U.S.), Sika AG (Switzerland), Pro Tapes & Specialties, Inc. (U.S.), and Von Roll Holding AG (Switzerland).
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