Global Speciality Tapes Market Size To Grow At A CAGR Of 6.1% In The Forecast Period Of 2023-2028

SHERIDAN, WYOMING, UNITED STATES, August 22, 2023/EINPresswire.com/ -- The ‘Global Speciality Tapes Market Size, Share, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global speciality tapes market, assessing the market on the basis of its segments like resin type, backing material, end use, and region.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

The key highlights of the report include:

Market Overview (2018-2028)

Historical Market Size (2022): USD 73.8 billion
Forecast CAGR (2023-2028): 6.1%
Forecast Market Size (2028): USD 104.8 billion

The global speciality tapes market growth is being driven by its increasing usage in several end uses sectors such as white goods, electrical and electronics, paper and printing, and retail and graphics, among others. The electronic assembly market has witnessed growth in recent years, thus directly influencing the speciality tapes market. Speciality tapes can be used for smartphones, computers, laptops, cameras, and monitors to protect the components from overheating, static shielding, and gasketing. Few other applications include masking, clear lamination of touch labels, heat management, and permanent chip attachment.

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The usage of speciality tapes in white goods like refrigerators, air conditioners, washing machines, and televisions, among others, also contributes to the global speciality tapes market. Rising demand for these household products to ease everyday life and improving living standards are augmented the overall share of the market for speciality tapes. These tapes are residue free and provide strong adhesion under high temperature, thus offering manufacturers effective solutions they can provide to the consumers. Manufacturers have also been developing new methods of engineering these tapes for commercial and home appliances to extend the applications of speciality tapes.

Production of new products of acrylic speciality tapes offers various growth opportunities to the speciality tapes market. These acrylic speciality tapes are water-based or solvent-based and come at a slightly higher price than regular speciality tapes, but remain stable in extreme temperatures due to its double layers. Its temperature resistance properties make it suitable for packaging, thereby increasing their demand in the market for speciality tapes. The acrylic resin type of speciality tapes also provide robust resistance against other environmental degradation factors like heavy rain or wind, thus proving an effective alternative to rubber adhesives.

Speciality tapes with PET backing materials find their applications where proper insulation and physical protection is the major demand. They provide uses like printed circuit board fabrication, composite bonding protection, and specific colour coding for products. The colour coding system becomes extremely useful when the key demand of the manufacturer or consumer is ease of identification. They are cost effective and available in wide range of thickness options according to the end use, thus providing flexibility to customers. PET speciality tapes come with different specifications like chemical resistance or pressure sensitive adhesion thus offering choices and driving the global speciality tapes market.

Speciality Tapes Industry Definition and Major Segments

Speciality tapes are tapes with specific designs, materials, and construction that are not commonly found in a regular adhesive tape, thereby improving the capabilities of the tapes. Some of these capabilities are adhesion properties, abrasion resistance, and resistance to chemicals. These tapes are typically used only for targeted applications and are not suited for use as a traditional rolled tape.

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On the basis of resin type, the market is classified into:

Acrylic
Rubber
Silicone
Others

Based on backing material, the market is segmented into:

Polyvinyl Chloride (PVC)
Woven/Non-Woven
Paper
PET
Foam
Polypropylene (PP)
Others

On the basis of end use, the market is categorised into:

Electrical and Electronics
Healthcare and Hygiene
Automotive
White Goods
Paper and Printing
Building and Construction
Retail and Graphics
Others

Based on region, the market is divided into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Speciality Tapes Market Trends

A key trend propelling the growth of the global speciality tapes market is the development of healthcare sector worldwide. The usage of speciality tapes in surgical devices and instruments make it a vital component for the manufacture of medical devices. The increasing healthcare expenditure in developing countries is also supporting the market for speciality tapes as countries invest in improved medical devices and instruments.

Increasing environmental awareness has surged the demand, production, and distribution of eco-friendly tapes. These green tapes are made from recyclable products and are biodegradable so as to reduce environmental waste. Green speciality tapes are attracting the attention of the large consumer base that is seeking to utilise eco-friendly products, thus establishing its demand among a solid demographic. The rising demand for eco-friendly speciality tapes is encouraging the market players to invest in green speciality tapes, therefore boosting the global speciality tapes market.

Regulations of various governments regarding the usage of plastic is another key trend in the market for speciality tapes. These standards also affect the raw material prices thus leaving an impact on the manufacturers involved in producing plastic-based speciality tapes. As a result, more key players are investing in sustainable production using advanced technology and innovation that reduces the usage of single-use plastics.

The Asia Pacific region holds a substantial share in the global speciality tapes market due to the presence of developing countries and increased consumption of various consumer goods in recent years. There is an increase in demand from the construction sector due to the rapid urbanisation and development, and growing infrastructure in various industries. Increasing population and rising disposable income are also enhancing the demand for white goods and retail and graphics.

Expansion of the automotive industry in countries like China and India, supported by a rise in population, need for better transportation, and increase in production capacities are further augmenting the speciality tapes market. Usefulness of speciality tapes in automotives for cable and wire harnessing, body moulding, extreme sealing, and noise dampening are increasing their demand in automotive end uses. Meanwhile, North America accounts for a reasonable share in the market for speciality tapes, supported by the presence of established healthcare, electrical and automotives industries that demand the usage of speciality tapes.

Key Market Players

The major players in the global speciality tapes market report are:

3M Company
Nitto Denko Corporation
tesa SE
LINTEC Corporation
Avery Dennison Corporation
Scapa Group plc
Compagnie de Saint-Gobain SA
Others.

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.

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Expert Market Research
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