Industrial Tapes Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024
The industrial tapes market has experienced robust growth in the past few years with the global growth of the tapes and adhesives industry. Increasing demand for high strength, solvent-resistant tapes are gaining popularity in industrial applications. These tapes comprise a face stock which is coated on one side with an active adhesive. The face stock material forms the backing of the tape. Several types of backings are currently popular in the industry. Some of them include paper, polypropylene, vinyl, polyethylene, polyester, polytetrafluoroethylene, metal foil, and glass foil. Paper tapes are the most economical choice for industrial tapes; however, due to poor moisture and tear resistance, they are usually employed in paper and corrugated packaging industry. Polypropylene industrial tapes are usually used as substitute for paper tapes. Polypropylene tapes are tear resistant and offer good performance at low temperatures. Polytetrafluoroethylene tapes are relatively high priced; they however exhibit excellent anti-stick properties and have excellent moisture-resistance property as well.
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Industrial tapes, commercially available in the market are primarily of two types- single coated and double coated. Single coated industrial tapes can have different adhesives such as acrylic, rubber, or silicone. These types of industrial tapes are usually used for electrical, masking, carton sealing, and medical applications. On the contrary, double coated tapes consist of pressure-sensitive adhesive on both sides of a carrier. These tapes tend to be thicker due to the added layer. Double coated tapes are usually the preferred choice when two distinct adhesives are needed in order to join dissimilar surfaces. Thus, these are often referred to as differential tapes.
Industrial tapes are predominantly used in various end-user industries such as packaging, footwear, construction, furniture, automotive, and others. The end-user industry utilizes several types of industrial tapes as per the requirement of the application. For instance, double coated polypropylene tapes are widely used in automotive, aerospace, and carpet installation due to their flame retardant property. Industrial tapes are used for masking, lamination, protection, jointing, insulation (cold & electrical), holding or mounting during the manufacturing of automobiles & their accessories. Similarly, these tapes are used for bonding of white goods appliances such as refrigerators, air conditioners, televisions, washing machines, printers, microwave ovens etc. Industrial tapes for packaging industry are made up of paper, cloth & foams, and polyethylene and are used for carton sealing, bonding, jointing, and sealing application.
The demand for industrial tapes is significantly expanding in the fields of flooring for commercial and housing applications. Steady growth rate of construction of residential buildings, especially in emerging economies such as China, India, Brazil, South Africa, and Russia (BRICS), is driving the industrial tapes market. Moreover, robust growth in the packaging and converting industry will increase demand for industrial tapes. However, enactment of several environmental regulations regarding VOC emission from solvents used in industrial tapes is the prime restraining factor for the market. Innovation in the market related to improvement in aesthetics and application time is expected to create immense opportunity in the market.
Asia Pacific is anticipated to be the fastest growing region in the industrial tapes market in the coming years. Increasing urbanization and formation of smart cities is boosting the demand for industrial tapes in the region. The Middle East and Africa (MEA) is estimated to exhibit significant growth during the forecast period due to easing government processes for residential mortgaging, especially in Saudi Arabia and the UAE. Latin America is projected to witness moderate growth during the forecast period. Brazil and Argentina are likely to drive the industrial tapes market in Latin America due to significant public investments in commercial, infrastructural, and industrial construction. Europe held a significant share of the global industrial tapes market in 2015. Austria, Germany, the Netherlands, Russia, and Turkey have been identified as high growth markets for industrial tapes for construction end-user industry. The industrial tapes market in North America for construction end-user industry is likely to expand at a below average growth rate due to maturity of the construction industry.
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Some key players in the industrial tapes market include 3M, Scapa, Avery Dennison Corporation, H.B. Fuller, Ashland Inc., Sika AG, Henkel AG & Co. KHaA, Saint Gobain SA, The Eastman Chemical Company, Tape Products Company, and Tesa Tape, inc.
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