(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 24, 2021, 05:31 /Comserve / -- The surface protection tapes market is projected to grow from USD 12.3 billion in 2019 to USD 18.0 billion by 2024, recording a CAGR of 8% during the forecast period.

The surface protection tapes market is projected to grow from USD 12.3 billion in 2019 to USD 18.0 billion by 2024, recording a CAGR of 8% during the forecast period. The growth of the end-user industries such as automotive & transportation, electrical & electronics, and building & construction are the key factors driving the growth of the surface protection tapes market. However, factors such as high raw material costs inhibit the growth of the surface protection tapes market.

The polished metals segment is the largest as well as the fastest-growing segment and is projected to grow at the highest CAGR from 2019 to 2024. Polished metals are widely used to manufacture a range of products, and these surfaces may require protection from scratches and damages incurred during the manufacturing, assembling, transportation, and storage activities. The growth of this segment is attributed to the demand for these tapes in various end-use industries such as building & construction (for curtain walls, building panels, and coil coatings) and automotive (for the vehicle parts).

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The electronics & appliances segment is projected to dominate the surface protection tapes market from 2019 to 2024, in terms of both value and volume. Surface protection tapes for electronics use ultra-low and very low types of adhesives to protect delicate substrates that are used in the fabrication of the devices. Low to moderate adhesion surface protection tapes are used post manufacturing as they are more durable. These tapes are used as a screen protector for display panels. With the increasing growth rates for the electronics industry, the demand for surface protection tapes is likely to grow in this industry.

In terms of both value and volume, the Asia Pacific surface protection tapes market is projected to grow at the highest CAGR from 2019 to 2024. High economic growth and increasing standards of living along with the rapid urbanization are increasing the infrastructural development in the region. Further, the growth in the construction industry of the region has increased the number of construction projects, which indirectly drives the demand for surface protection tapes in this region.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Surface Protection Tapes Market Future Growth, Revenue Analysis, Demand Forecast to 2024

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the surface protection tapes market.

By Company Type: Tier 1: 28%, Tier 2: 29%, and Tier 3: 43%
By Designation: M-level: 82% and D-level: 18%
By Region: Asia Pacific: 45%, North America: 15%, Middle East & Africa: 25%, Europe: 10%, and South America: 5%

Research Coverage
The market study covers the surface protection tapes market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on the type, surface material, end-use, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the surface protection tapes market.

TABLE OF CONTENTS

1 INTRODUCTION 17
1.1 OBJECTIVES OF THE STUDY 17
1.2 MARKET DEFINITION 17
1.3 STUDY SCOPE 18
1.3.1 REGIONAL SCOPE 18
1.3.2 PERIODIZATION CONSIDERED FOR THE STUDY 19
1.4 CURRENCY CONSIDERED 20
1.5 UNITS CONSIDERED 20
1.6 STAKEHOLDERS 21

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