Specialty Tapes Market

Specialty Tapes Market Size and Growth(2023-2028):

The Specialty Tapes Market size is predicted to grow from USD 65.4 billion in 2022 to USD 66.3 billion in 2028 with a compound annual growth rate (CAGR) of 9.4% during the calculated period 2023-2028

The manufacturers are promoting a variety of these products with features like rising demand for specialty tapes in the healthcare & hygiene, electrical & electronics, automotive, white goods, and building & construction industries.

The increasing demand for specialty tapes like utilizing healthcare services, awareness regarding hygiene products, infrastructure development, and upgrade of electronic equipment. Thus, manufacturing tapes operating the specialty tapes and their exceptional heat capacity as well as weather resistance features.

Manufacturers are mostly focusing on a new variety of specialty tapes with their improved quality presenting resistance. On the basis of developed functionality, it is utilized in lastly specialty tapes market where it was not utilized before. The specialty tapes are used as the latest adhesive solutions on a function basis under extreme conditions, as well as offering. Specialty tapes are produced on the basis of coating different solutions on the substrate of paper or film. Many manufacturers are projected on the basis of upgrading and modernizing the coating and mixing equipment. Several types of research in the electronics division are executed to offer highly specialized adhesive technology for specialty tapes

Drivers & Restraints in the Specialty Tapes Market:

The demand for specialty tapes is witnessing growth in the healthcare & hygiene sector operating by the growth and penetration of the products in developing countries, along with growth in disposable income. The main driving factor in improving healthcare and the aging global population.

The growth of the global market is foreseen to be restricted by the availability of various adhesives, sealants, and fasteners.

Opportunities in the Specialty Tapes Market

• Extensive utilization of these products in several end-users like automotive, building & construction, and aerospace are touted to promote growth in the foreseen years.

• The market growth is attributed to high demand in healthcare & hygiene and electrical in developed countries along with improved global economic conditions that are attracting global specialty tape manufacturers to invest in this market.

• Surging demand in developing countries is an opportunity for various market players.

• New product launching and mergers & acquisitions are the key strategies adopted by companies operating in the market.

Recent Developments:

• In Jan 2019, Tesa SE introduced aluminum foil tapes which are six tapes that are available with and without a liner. These tapes are used in appliances (devices or pieces of equipment), including refrigerators (an appliance or compartment that is artificially kept cool) to seal liners of the freezer for heat transfer.

• In 2018, 3M Company implemented and introduced a high-adhesion Durapore healthcare adhesive tape, owing to safety, reliability, and critical tube protection in challenging environments like high-moisture environments.

SPECIALTY TAPES MARKET REPORT COVERAGE:

Market Segmentation:

Specialty Tapes Market - By Backing Material:

• PVC         

• Paper 

• Woven/Non-woven

• PET

• Foam

• PP

• Others (PA, Metal, Glass Cloth, and Polyolefin)

PVC is the more popular material for the manufacturing of specialty tapes. PVC tapes are non-corrosive and resistant to humidity and Ultra Violet rays. PVC is a thermoplastic polymer that possesses outstanding mechanical properties, better insulation ability, and higher resistance to chemicals.

Specialty Tapes Market - By Application:

• Electrical & Electronics
• Healthcare & Hygiene
• Automotive
• White Goods
• Paper & Printing
• Building & Construction
• Retail & Graphics
• Others (Military & Defence, Sports & Entertainment)

Mostly the application is distributed equally all over verticals, but certain application segments, such as automotive, electronics, and medical are significantly larger compared to others.

The tapes found multiple purposes in areas like lane marking, vapor barrier, protection, hazard warning, duct sealing, construction, automotive, white goods, aircraft, and others. In the electrical & electronics industry, these tapes are ideal for masking during the chemical plating process.

Specialty Tapes Market - By Region:

• North America
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa 

In the Asia Pacific, companies are growing their infrastructure development on the basis of increasing demand in the construction division. The Asia Pacific is predicted to be the leading region in the global specialty tape market in the future. The Asia Pacific is participating as one of the leading regions in the global market. Socio-economic factors in the locale are also promoting the expansion of this business. The producers are focusing on the good quality of the specialty tapes by employing an experienced and expert workforce and new technologies for improved quality are offering good results. Stringent policies on VOC emission are assumed to have good results for the development of the market in the APAC. Furthermore, Europe and North America are also participating in the expansion of their local businesses over the coming days.

Key Market Players listed in the research report are:

1. 3M

2. Nitto Denko Corporation

3. Tesa SE

4. Lintec Corporation

5. Avery Dennison Corporation 

6. Scapa Group Plc

7. Intertape Polymer Group, Inc.

8. Berry Global Inc.

9. Saint-Gobain Performance Plastics

10. Lohmann GMBH& Co. KG

11. Nichiban Co. Ltd.