The global duct tape market has been estimated to be valued at US$ 3,745.3 Mn by 2017 end and is expected to expand at a 5.3% CAGR, during the forecast period 2017–2027.
Albany, NY -- (SBWIRE) -- 12/12/2017 -- A new report added to the repository of Market Research Reports Search Engine "Duct Tapes Market: Professional Grade Duct Tapes Product Type to Dominate the Global Market in Terms of Value Share During the Forecast Period: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)"is a comprehensive repository of information, providing market share, size, and forecast.
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Uses and benefits of duct tapes
Duct tapes are a type of pressure sensitive tapes. Duct tapes have high tacking property and are commonly used for sealing, holding, repairing, waterproofing and colour-coding. On the backdrop of their high tacking capabilities, duct tapes are used for sealing and marking purposes in automotive, building and construction, electrical & electronics and general industrial activities. With the use of duct tapes, manufacturers are able to seal heavy duty box sealing, bundling and wrapping. Apart from specialised and industrial applications, duct tapes are also used in common household DIY activities such as strapping or repairing the broken parts of tools and other items. Some other common uses of duct tapes include securing carpets and padding and protective sheeting for the hotel industry.
The backing material and tack adhesion defines the grade and end use of duct tapes. Metal foil, cloth and plastic are used as duct tape backing material. Polyethylene and vinyl backed duct tapes are famous for light indoor and outdoor DIY applications. However, duct tapes are used as a temporary solution and are inefficient for high temperature applications, and this factor limits the growth in its market. Duct tapes are also efficient for packaging of goods due to their low tack adhesion on cardboard and difficult contours, which further narrows down its area of application. A burgeoning building and construction sector in many parts of the world is expected to escalate the growth in use of duct tapes over the forecast period. Duct tapes have become a preferred option for many household and industrial operations instead of mastic fluids due to the ease in application.
Market Value and Volume Forecast
With the increase in number of building and construction activities the demand for duct tapes is poised to increase.
The global duct tape market has been estimated to be valued at US$ 3,745.3 Mn by 2017 end and is expected to expand at a 5.3% CAGR, during the forecast period (2017–2027).
While the volume for duct tape market has been estimated to be 2,182 Mn Sq.m by 2017 and is expected to grow at 5.1% CAGR, during the forecast period (2017-2027).
Growing use of duct tapes in the building and construction, electronics and automotive industries is leading to an increase in the demand for duct tapes globally. Increased use of duct tapes for indoor DIY applications for repairing tools and other articles is supporting the growth in revenue of the duct tapes market. Improvement in performance of duct tapes with advanced adhesive technology allows duct tape manufacturers to adhere to market demands with different materials for longer duration. Moreover, presence of a large consumer base in Asia and North America and ease of application of duct tapes can lay new paths of opportunities in the global duct tapes market. However, the presence of substitute products such as mastic fluids and other fibre tapes can hamper the growth of the global duct tapes market to some extent.
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Global Duct Tapes Market Analysis & Forecast, by Product Type
Based on product type, the market has been segmented into removable duct tapes, professional grade duct tapes, utility duct tapes and specialised high strength duct tapes. The professional grade duct tapes segment is anticipated to lead the market in terms of market share during the forecast period, estimated to account for over 40% value share of the global duct tapes market during the forecast period. The professional grade duct tapes segment is expected to create an incremental opportunity of US$ 1,206.9 Mn during the forecast period. The utility duct tapes segment is expected to be the fastest growing segment in the global duct tapes market, and is expected to grow by 1.9X during the forecast period.
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