Specialty Tapes Market

Report Scope & Overview:

Specialty Tapes Market Size was valued at USD 51.83 billion in 2022, and is expected to reach USD 84.55 billion by 2030, and grow at a CAGR of 6.3% over the forecast period 2023-2030. Specialty tapes are utilised in a wide range of applications. Depending on the purpose and customer needs, these speciality tapes are made from a variety of resins and materials. Electrical and electronics, healthcare and hygiene, automotive, white goods, paper and printing, construction, and retail and graphics are just a few of the industries that employ specialty tapes. The rising uses of specialty tapes are expected to drive the market.

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In the electrical and electronics industries, the trend toward thinner and microelectronic devices continues, resulting in an increase in the use of speciality tapes. Similarly, during the forecast period, the market for speciality tapes in the healthcare and hygiene end-use industry is expected to grow at the quickest rate. This rise is due to the growing older population as well as the incidence of chronic diseases.

Market Dynamics:

Opportunity:

• Traditional fastening systems are being replaced.

Drivers:

• End-use industries make use of specialty tapes.

Restraint:

• Price and availability of raw materials.

Challenge:

• competition in the market.

Impact of covid-19:

COVID-19 has had a significant economic impact on a variety of financial and industrial sectors, such as travel and tourism, manufacturing, and aviation. According to the World Bank and the International Monetary Fund, the worst economic downturn will come between 2020 and 2021. Economic activity is diminishing as an increasing number of countries impose and extend lockdowns, affecting the global economy. In recent years, the global economy has become much more linked. The negative effects of various COVID-19 containment attempts include global supply chain disruptions, decreasing demand for imported items and services, and an increase in the unemployment rate. Risk aversion has increased in the financial industry due to historically low interest rates and large decreases in equity and commodities prices. Consumer and business confidence have both declined.

Segment Description:

By Resin Type: Acrylic: Acrylic held the biggest market share in 2022 and is predicted to increase at a considerable CAGR over the forecast period. Solid, water-based, or solvent-based acrylic tapes are available.

Rubber tapes are used to insulate and seal electrical connections for both high and low voltage applications.

Silicone tapes provide excellent and quick fusion, allowing for an airtight and watertight seal in minutes. They also have improved tear resistance and controlled elongation of up to 25%, making them excellent for sealing hard-to-reach areas.

By Application: Electric and electronic use of speciality tapes is the largest market within this group, accounting for over 28 percent of the total specialty tape market share.

Consumer Goods: The primary market for specialised tape is in consumer goods, either for use within the product or for transportation.

Paper and printing: Paper and printing account for 6% of the specialised tapes market and play an important role in the print sector, particularly with foam-backed speciality tapes.

Building & Construction: Due to rising residential construction, the building and construction industry is likely to drive speciality tape demand at a significant rate. Specialty tapes are utilised in a variety of construction applications, such as windows, door frames, duct board, and pipes.

Market Segmentation:

By Resin Type

• Acrylic

• Rubber

• Silicone

• Others

By Backing Material

• Polyvinyl Chloride (PVC)

• Paper

• Woven/Non-Woven

• PET

• Foam

• Polypropylene (PP)

• Others

By End-Use Industry

• Electrical & Electronics

• Healthcare & Hygiene

• Automotive

• White Goods

• Paper & Printing

• Building & Construction

• Retail & Graphics

• Others

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Regional Analysis:

Asia-Pacific was the world's largest and fastest-growing speciality tapes market, accounting for about half of the worldwide market. The expanding automotive industry, which is raising production to satisfy the increased demand for energy-efficient vehicles, is responsible for market growth. Furthermore, the healthcare industry is expanding as a result of higher healthcare spending, an older population, and rising consumer hygiene awareness.

North America: The existence of established electrical and electronics, healthcare, and automotive industries drives the specialized tapes market in North America.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Key Players:

3M, Tesa Tapes Private Limited, Avery Dennison Corporation, Scapa Group Plc, Berry Global Inc., Lohmann GmbH & Co., DermaMed Coatings Company, LLC, ECHOtape, LINTEC Corporation, Intertape Polymer Group, Saint-Gobain, NICHIBAN Co., Ltd, Specialty Tapes, STM, NITTO DENKO CORPORATION, and other players.

Tesa Tapes Private Limited​​​​​​​-Company Financial Analysis

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