Market Research Future published a Cooked research “Global Industrial Tape Market Research Report - Forecast to 2023” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023.
Pune, India -- (SBWIRE) -- 08/11/2017 -- Industrial Tape Global Market – Overview
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.
May it be about the ways to dissipate heat, reduce friction or improve traction or about the solutions for vibration damping, noise mitigation, and paper splicing or safety lane marking Industrial tapes are used everywhere. From metal foil tapes and vinyl tapes to polyester and glass cloth tapes, Specialty Products can help solve diverse industrial challenges quickly and efficiently.
Tape Backing Materials in many applications, add a second surface that affects how the underlying surface relates to the environments. To optimize that relationship, a wide choice of performance and handling characteristics of Tape Backing Materials are available in the market.
Industrial Tapes help maintain consistency from sketch to construction, eliminating distracting, visible fasteners, like screws and bolts. The high-strength, double-sided acrylic foam tapes quickly and easily create a long-lasting bond that actually builds strength over time. With the ability to join a variety of materials including aluminium, steel, glass, plastics and painted and powder-coated surfaces, they provide resilient bonding solutions in just about anything beyond imagination including the magic tape or Water Contact Indicator Tape, in which Film top layer is printable by thermal transfer, flexographic, and screen printing methods and offers improved ink receptivity, The film top layer also provides protection from soiling and moisture during handling, Paper backing is highly absorbent and transports water to show indications and Acrylic adhesive allows for a very high bond strength to most surfaces including low surface energy plastics such as polypropylene and powder coatings.
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Industrial Tape Global Market – Key Players
- 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.)
- Von Roll Holding AG (Switzerland)
Industrial Tape Global Market – Competitive Analysis
Characterized by the presence of several major well-established players, the global Market of Industrial Tapes appears to be highly fragmented and competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. The Key players operating in the market compete based on pricing, product launch, technology launch, reputation and services. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position. These Manufactures strive to develop products with the adept technologies, unrivalled design and features.
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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, Aluminium 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.
Industrial Tape Global Market – Regional Analysis
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.
Over the past few years, Asian market growth has driven global growth and will continue to do so in the coming years but notably at a decelerating rate. Europe, which has seen moderate growth, is expected to see slightly higher growth in the future. North America is expected to grow in line with GDP, while South American and Africa & Middle East continue to be fairly steady, growing from very small bases.
Global Industrial Tape Market is projected to reach USD 61.73 billion by 2023, at a CAGR of 6.1% from 2017 to 2023.
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