Specialty Tape Market is expected to touch in US$ 9,907.1 million revenue by 2026; registering CAGR of 5.7% during 2017-2026
Albany, NY -- (SBWIRE) -- 01/02/2018 -- With increasing use of specialty tapes in various industries, manufacturers are introducing new products with advanced features to meet the specific demand. These tapes have unique features other than general features available in adhesive tapes. For instance, these tapes are resistant to various factors such as water, fire, dust, etc. Specialty tapes are also being made stronger to hold heavy-weight objects protecting from any damage. Different types of adhesives are being used and made to offer additional features, for example, acrylic and rubber-based adhesives are being used to make a soundproof tape. Moreover, manufacturers are conducting research on new types of adhesives to develop new products.
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Companies are also working towards reducing emission during the production process, by integrating new technologies and using modern equipment.
Some of the key market players in the global specialty tape market are Henkel Corporation, 3M, Nitto Denko Corporation, Saint-Gobain Performance Plastics, Tesa SE, E. I. du Pont de Nemours and Company, Intertape Polymer Group, Avery Dennison Corporation, LINTEC Corporation, ECHOtape, Scapa Group plc, Sekisui Chemical Co., Ltd., Toshiba Medical Systems Corporation, Xinapse Systems Ltd, and Siemens Healthineers.
Global Specialty Tape Market to Witness Steady Growth during the Forecast Period 2017-2026
According to the latest report compiled by Transparency Market Research (TMR), the global specialty tape market is expected to witness steady growth. The market is projected to increase to 5.7% CAGR during the forecast period 2017-2026. By the end of 2026, the global specialty tape market is projected to reach US$ 9,907.1 million revenue.
The global specialty tape market is segmented on the basis of the end user, product type, and region. On the basis of end-user, electronics & electricals segment is expected to witness significant growth in the global specialty tape market during the forecast period 2017-2026. On the basis of product type, woven/non-woven specialty tapes are expected to emerge as one of the highly preferred product in the global specialty tape market during the forecast period 2017-2026.
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Region-wise, the global specialty tape market is segmented on the basis of North America, Latin America, Japan, Europe, Asia Pacific Excluding Japan (APEJ), and the Middle East and Africa (MEA). Among these, APEJ is expected to remain dominant in the global specialty tape market throughout the forecast period 2017-2026.
High-Performance Tapes and Adhesive Developments to Drive Specialty Tape Market
Manufacturers are focusing on offering a new range of specialty tapes with better features offering resistance. New specialty tapes are being developed to offer functionality to be used in the area where it has not been used before. Moreover, new adhesive solutions are also being developed to make specialty tapes perform in extreme condition, offering protection. Such tapes, performing at high and low temperature with high resistance are expected to present new opportunities for market players. Specialty tapes are being manufactured by coating various solutions on a substrate of film or paper. Hence, Volatile Organic Compounds (VOCs) form the major source of pollution. However, various regulations have been implemented to minimize the pollution. Meanwhile, in order to stay competitive in the global specialty tape market, manufacturers are focusing on modernizing and upgrading their mixing and coating equipment. Moreover, electronic equipment are emerging as the largest users of specialty tapes, hence, manufacturers are producing tapes with a special focus on heat resistance and weather resistance properties. Research is also being conducted to provide highly specialized adhesive technology for tapes used in electronics segment.