Industrial tapes are utilized in various industrial processes usually which is used for stickering and binding. These tapes are mainly used for masking, conducting, and packaging design.
Industrial Tape Market Size was valued at USD 18.26 billion in 2023. The Industrial Tape industry is projected to grow from USD 19.21 Billion in 2024 to USD 29.83 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.65% during the forecast period (2024 - 2032).
Increasing demand from the construction and packaging industry is the major driving factor of the market of industrial tape. The rise of the automobile industry is another factor fueling the need for industrial tapes. Industrial tapes are hugely utilized in vehicle assembly performance like airbag cover & trim panel attachment. Even though, fluctuations in unprocessed material prices might hinder the industrial tape market growth and market size.
COVID 19 Analysis
The pandemic COVID-19 has had a considerable economic impact on several financial and also industrial regions like tourism and travel, manufacturing aviation. owing to the rising number of countries extending and imposing lockdowns, economic activities are deteriorating, impacting the international economy.
The businesses are managing with lost income and disorder supply chains owing to industrial shutdowns and curfew quarantine measures. The demand for industrial tape for packaging is increased due to the rise of the packaging industry.
Some factors are driving the increasing growth of the industrial tape market. Industrial tape manufacturers are producing tapes more due to their current demand. The market growth of the industrial tape market trend of the automobile sectors is driving the market of industrial tapes. Automobile manufacturing needs such tapes for attachment throughout various operations. Additionally, industrial tapes have observed extension in their application markets like aerospace and construction. Governmental rules and regulations are also viewed as very strict to safeguard the environment.
The extensive utilization of industrial tapes in automotive, packaging, construction, and medical sectors, due to various favorable attributes like shock/water resistance and tensile strength & high peel, is the prime factor driving the international market.
These industrial tapes serve as a lightweight substitute to mechanical fasteners like screws and bolts while improving the exquisite appeal of material and covering attachments and visible joints. Additionally, due to their shock resistance and water-resistant attributes, they are broadly utilized in the production of electrical equipment.
Additionally, government policies are supporting the manufacture of zero-residue, environment-friendly, renewable and bio-degradable tapes with the target to decrease carbon emissions. Furthermore, manufacturers are progressively choosing industrial tapes to create with materials like acrylic and natural rubber which minimize harm to the environment, thus accelerating the industrial tape market growth.
Cost and the availability of unprocessed materials are the major factors that demand to be significant by industrial tape manufacturers to view the price structure of their materials. Acrylic, paper, rubber, silicone, polyvinyl chloride, adhesives, and release liners are the unprocessed materials used in the production of industrial tapes. The majority of these unprocessed products are petroleum-based imitative which are endangered by fluctuations in retail prices. The cost of oil has been increasingly volatile in the last few years owing to the rising global demand and agitation in the Middle East. The fluctuations and uncertainty in the price and accessibility of feedstock affect the industrial tape market growth.
The industry has been impacted owing to the raised energy prices in case of manufacturing costs. The continually increasing international demand and requirements for chemicals and the volume constraints in the chain of supply of these prime chemicals and feedstock of resin have charged the rise in the cost of raw materials. These factors are restraining the market growth of industrial tape.
Governmental and administrative rules & norms are getting harder to preserve nature. Industrial tape producers must restrict the discharge of volatile organic content during production. This is demonstrated to be the restricting point for the industrial tape market share. Manufacturing industrial tapes with decreased Volatile Organic Content emissions is a key challenge for the manufacturers of industrial tape.
Manufacturers in some regions are demanded to follow mandatory regulations about the production and also utilization of industrial tapes for different applications to minimize the discharge of Volatile Organic Content. These regulations need producers to swap their technologies from solvent-type to water-type, which is another challenge for the producers because solvent-type tapes provide durability and could withstand a great range of weather, this could suitable for a broad range of applications rather than another type of tapes. Due to these regulations, the production market.
Filament tapes are anticipated to grow the quickest in the industrial tape market, they could be used for several purposes like pallet unitizing, corrugated fiberboard boxes, bundling items, reinforcing packages. It is created of polyester or polypropylene film and uses fiberglass filaments thus it gives high tensile strength and power. The international industrial tape market size was USD 59.6 Billion in the year 2020 is anticipated to reach 15,029 billion by the year 2030 and register a CAGR of 5.7% throughout the forecast period.
These tapes with certain challenges of traditional systems aid to boost the lifespan of the material. Tapes also help destroy corrosion & rust; reduce vibration & noise, assembly time & manufacturing, and improve product design. This shows to increase performance and efficiency while decreasing production and product costs.
Industrial tapes have a considerable market share in the adhesive tapes market. Industrial tapes are utilized extensively to fix and seal various substrates like elastomers, glass, foams, and metals compared to others. Such tapes boost their strength, durability, and productivity. Industrial tapes could stand severe conditions like high temperature, light, temperature cycling, cold, and moisture.
In addition, it is observed that industrial tapes have increased their assumption in vehicle assembly, electronic element assembly, heating ventilation AC operations, packaging, insulation, and others. Those factors are used for the fabrication and assembly of components and products. Additionally, tapes improve the entire appearance of the consumer product. Technological advancements and innovations have aided industrial tapes to entertain more markets aerospace and construction with rising adhesive strength. The industrial tape market growth is completely dependent on their demand. The market size will also rise shortly because of its requirement in the packaging industry.
The APAC region led the international industrial tape market in the year 2018. It is also anticipated to be the highest rising region for the Industrial Tape market trend. The rise in industrialization, increasing urbanized population, and inclined in investing capacity are the major factors that drive the growth of the industrial tape market in the APAC region.
China is another leading market in the APAC region. An increase in the automotive, aerospace, and construction sectors is projected to stimulate the demand for industrial tapes. Additionally, the country has increased investment in advanced technology which has consequent in several products over the tape line. Moreover, the increased usage over its construction sector has moved the market growth. North America also dominating the market of industrial tape market growth. The market is anticipated to show some growth in the future.
In the year 2020, Nitto Denko Corporation found its head office in the region of Tokyo, and also the current head branch is located in Osaka. This extension aided the firm to strengthen the Nitto Group and rising it's brand repetition. It also donated to user value creation via the fusion of several lines of technologies and business held by the firm.
In the year 2019, 3M firm launched the new version of sealing tape, and Sealing Tape 375+, to face packaging challenges. It assures high activities for e-commerce and shipments and defeats abortive box sealing tape provocations.
This report has covered:
| Report Attribute/Metric | Details |
| Market Size 2023 | USDÂ 18.26Â billion |
| Market Size 2024 | USDÂ 19.21Â billion |
| Market Size 2032 | USDÂ 29.83Â billion |
| Compound Annual Growth Rate (CAGR) | 5.65%Â (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2019Â &Â 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Tape Backing Material, Application, and End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Countries Covered | The U.S, Canada, Germany, UK, China, Japan, India, Australia, South Korea. |
| Key Companies Profiled | 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), Scapa Group plc (U.K), Shurtape Technologies, LLC (U.S.), Sicad Group (Italy), and Advance Tapes International Ltd. (U.K) |
| Key Market Opportunities | New product launches and R&D amongst major key players |
| Key Market Dynamics | Increasing demand from the packaging and construction industry Growing demand for industrial tape from the automobile industry |
Industrial Tape Market Highlights:
Frequently Asked Questions (FAQ) :
The international industrial tapes market size is anticipated to reach 29.83 billion by the year 2032 and register a CAGR of 5.65% throughout the forecast period.
The industrial tape market can value at achieve sizable revenue by 2032.
Shurtape Technologies, LLC (U.S.), Advance Tapes International Ltd. (U.K), and Sicad Group (Italy) are some reputed names in the industrial tape market.
The easy availability of vanadium can prompt the global industrial tape market expansion.
North America industrial tape market growth can spur as defense applications increase.
The industrial tapes market size is anticipated to reach 15,029 billion by the year 2030 and register a CAGR of 5.7% throughout the forecast period.
$15,029 billion
5.7%
Asia-Pacific
2022-2030
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
