ID: MRFR/AM/3575-CR | 125 Pages | Published By Sejal Akre on October 2020
Electrical Tapes Market Size is expected to cross USD $15.2 billion by 2027 at a CAGR of 5.90% during the forecast period 2022-2030
Electrical Tapes Market Overview
The Electrical Tapes Market size is estimated to grow by 5.90% in the forecast period. The electrical tapes look similar to any other regular tape. However, it is a tape with distinct properties and advantages. The electric tape is made from materials such as glass, paper and rubber. It is known as pressure-sensitive tape that regulates electricity through electrical wires. It is a flexible tape and is suitable for a wide range of applications. The durability and efficiency of insulation are the key causes for high demand. The increasing awareness about electrical tapes among the end-users is raising the demand. The electrical tape comes in different colours to create distinctions for various uses of electrical tape. The electrical tapes market is essential in construction, automobile and industrial purposes. Electrical tape is used in high-end operations. Also, the electrical tape is safe to use. However, experts can effectively use electrical tape. There are plenty of drivers that will develop the overall market. Due to these factors, the electrical tapes market value is expected to rise tremendously.
The impact of covid 19 is drastic for the global markets. The electrical tapes market is facing plenty of challenges during this period. Electrical tapes are uses in the electronic, automotive and construction industries. However, the operations of these industries have been affected due to the pandemic. It is affecting the operations of the electrical tapes market. The decline in the demand for electrical tapes is a downfall for this market. Also, the electrical tapes are made from unique materials. The lack of raw materials is another challenge during this period. Supply chain disruptions are causing much loss for the market. However, the electrical tapes market outlook will change positively post covid 19.
There are plenty of factors for surging electrical tapes market demand. The key players of the market are launching electrical tapes with exceptional features. The electrical tape is unique in quality with plenty of beneficial features. The resistance and dielectric strength of electrical tape are massive. Also, the harness of these electrical tapes is the crucial driver for high demand. Due to the harness, the tape can provide excellent insulation and shielding. It is an efficient tape that can be heated to increase the resistance under high insulation operations.
Also, it is an eco-friendly product that attracts end-users from various sectors. Further, the demand from the automotive industry is a crucial driver for the electrical tapes market. In the automotive industry, there are different types of electrical tapes that vary in terms of insulation capacity, colour and harness. Further, electrical tapes have a tremendous demand from the construction industry. They are used on buildings, roofs and walls. However, the electricity and insulation of the electrical tape will not create any effect on the concrete. These are the crucial drivers of the market that will have an exceptional impact on the electrical tape industry.
The global construction market is witnessing sharp growth. The market is replacing the conventional adhesive tape with electrical bandages. The ease of use, secure applications and other exceptional properties of this tape will provide growth opportunities. The construction industries play a crucial role in increase electrical tape market growth. Especially, the construction projects in Asia pacific market are tremendous.
The use of different colour electrical tape provides high safety in all these construction operations. The electrical tape is suitable with different electrical wires through colour variation. The colour of the electrical varies according to the circuit. The investments from the key players will provide plenty of growth opportunities. In the upcoming years, the increased investments will cause the high versatility of tape. All these factors are responsible for the immense growth of the electrical tape market.
The demand for environmental tape is rising in the upcoming years. The growing awareness for environmental-friendly tapes can affect the growth of electrical tape. In the upcoming years, the sale of environmental friendly tape will be higher. It will affect the demand for electrical tape. The eco-friendly tape is sustainable, high quality, residence and highly durable. The exceptional features of this eco-friendly tape will take over the consumer demand. The environment tape will be used in construction, automotive and other industrial purposes. Also, the cost-efficiency of these eco-friendly tapes will further affect the electrical tape market.
The electrical tape is made from quality and high-end materials. High resistance components are used or high heat resistance. Also, expensive products are utilized to meet the harness requirements of the market. The high raw material price is a major challenge in this market. The volatility of the raw materials can affect the overall profitability of the electrical tape industry. Also, governmental regulation and restriction regarding the use of electrical tape is another challenge in the market. These challenges will affect the positive trend of this market.
There is moderate growth in the electrical tape market n the forecast period. There are plenty of factors that raise the overall electrical tapes market growth. Also, there are cloth, PVC and rubber electric tape segments. The PVC electrical tape segment is providing more growth opportunities. The PVC tapes are a crucial part of the construction industry. Further, the market drivers are providing more demand for the market.
The exceptional feature of electrical tape fuels the overall demand for the market. The investment from the key players is surging the development opportunities for this market. Also, ease of use is another driving factor in this market. The complex electrical and construction operations require electrical tape. All these factors have a positive impact on the electrical tapes market trends. The high raw materials price and demand for environmental tape pose a challenge to this market. These challenges can hamper growth. However, the key players are establishing plenty of measures to fix this issue.
The Asia Pacific region will hold the largest electrical tapes market share. The electrical tapes are useful in telecommunications, construction, and buildings in the Asia Pacific region. Asia Pacific market growth will reach the highest rate in the forecast period. India and China have massive electrical tape production facilities. The need for the high resistance and efficient tape is increasing the adoption of the electrical tapes market. All these factors will enable market expansion rate in the upcoming years.
The Asia Pacific region will dominate the electrical tape market in the forecast period. The growth of construction and automotive industries makes a positive impact on the electrical tapes market. The electrical wires and straps have exceptional demand in the Asia Pacific region. Also, there are plenty of growth prospects in this market. Technological advancements and price efficiency will enable new developments. North America is the next largest electrical tape market. The key players in North America are the US and Canada. The corrugated electrical tape segment is receiving more demand in the forecast period. The need for environmental tape in Asia pacific region may hamper the growth. However, more than a limitation the Asia pacific market has plenty of advantages.
The market competitive analysis is crucial information about the major players in the commercial market. The major players of the electrical tape market will earn high revenue from the immense supply. Also, these competitors provide electric tape installation services in several market regions.
The key players of the electrical tapes market re
|Market Size||2030 : Significant Value|
|CAGR||5.90% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By End Market, By Application, By Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Avery Dennison Corporation (U.S.), Intertape Polymer Group Inc. (Canada), HellermannTyton (U.K), The 3M Company (U.S.), Nitto Denko Corporation (Japan), Teraoka Seisakusho Co., Ltd. (Japan), Plymouth Rubber Europa, S.A. (Spain), ProTapes & Specialties, Inc. (U.S.), Electro Tape Specialties, Inc. (U.S.), H-old S.P.A (Italy), PPM Industries UK LTD (U.K), Euro Tapes Pvt. Ltd (India), Godson Tapes Private Limited (India), and Parafix Tapes & Conversions Ltd. (U.K)|
|Key Market Opportunities||
|Key Market Drivers||
The growth rate of the electrical tapes market is 5.90%.
The key players of the electrical tapes are Para fix Tapes & Conversions Ltd., Avery Dennison Corporation, Godson Tapes Private Limited, Intertype Polymer Group Inc., Euro Tapes Pvt. Ltd, HellermannTyton, PPM Industries UK LTD, The 3M Company, Electro Tape Specialties, Inc., Nitto Denko Corporation, ProTapes & Specialties, Inc., Teraoka Seisakusho Co., Ltd. and Plymouth Rubber Europa, S.A.
The profitable segments in the market are the PVC electrical tapes