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DUBAI, United Arab Emirates, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The thermoplastic tapes market is estimated at USD 2.2 Bn in 2022 and is projected to reach USD 3.0 Bn by 2029, at a CAGR of 4.7% from 2022 to 2029.A new research report by Future Market Insights (FMI) on the thermoplastic tape market includes global industry analysis 2014 - 2021 and opportunity assessment 2022 - 2029. The report investigates the Thermoplastic Tape Market and provides critical insights for the forecast period of 2022 - 2029.
As per findings of the report, the global thermoplastic tape market is expected to witness a substantial growth during the forecast period. Low cost and effective performance of the thermoplastic tape in the manufacturing of automotive components are expected to drive the market growth in the upcoming years.
In addition to enhancing visual appearance of the automotive parts, the diversification in usage and consumption of thermoplastic tape in different end-use sectors including aerospace and building & construction is likely to drive the market growth in the next ten years.
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| Market Size 2022 || US$ 2.2 Bn |
| Market Size 2029 || US$ 3.0 Bn |
| Value CAGR (2022-2029) || 4.7% || |
| Collective Value Share: Top 3 Countries (2022E) || 45.7% || |
Manufacturers Foresee Lucrative Opportunities in East Asia
Europe will continue to hold a prominent share in the thermoplastic tape market. However, high growth opportunities are expected in East Asia in 2021 and beyond. China is anticipated to represent high incremental opportunity and maximum growth rate in the region. With mounting environmental concerns, the government in the country are continuously imposing regulations to reduce dependency on fossil fuel, which led to increased adoption of composites in automotive and aircraft manufacturing. As a result, thermoplastic tape is likely to gain significant traction in the East Asian countries.
Industry Leader's Perspective:
According to R&D Vice President of Arkema – leading player in the thermoplastic tape market, carmakers in Europe are focusing on the development of lighter vehicles by replacing metal components with composites, in order to achieve the carbon emissions cap for new cars which will drop from 130 grams to 95 grams per kilometre by 2020. The company's thermoplastic is set to be a part of this solution, by offering lightweight, efficient, recyclable properties.
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PAEK Resin Family Remain a Material of Choice
- By thickness, thermoplastic tape of 0.21-0.40 mm is expected to hold prominent value share in the market. Although it remains the most common thickness range used in the end-use industries, manufacturers are likely to focus on offering varying range of thickness to sustain the demand for different applications.
- On the basis of material, PAEK is a widely used resin family in thermoplastic tape, followed by polyamide resin. According to the manufacturers, high quality composites are formed when these materials are combined with carbon or glass fibers. However, the carbon-reinforced fiber provides more strength to thermoplastic tapes as compared to the glass-reinforced fiber.
- By end-use industry, significant adoption by the automotive industry will continue to account for relatively high sales.
Scope of Report
| Attribute || Details |
| Forecast Period || 2014-2021 |
| Historical Data Available for || 2022-2029 |
| Market Analysis || US$ Million for Value and Mn.Sq.M. for Volume |
| Key Regions Covered || North America, Latin America, Europe, Middle East and Africa, East Asia, South Asia, and Oceania |
| Key Countries Covered || The U.S., Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, Russia, Turkey, South Africa, GCC Countries, Japan, South Korea, India, China, and Australia |
| Key Segments Covered || Thickness, Material, End Use and Region |
| Key Companies Profiled || • Evonik Industries AG |
• Toray Advanced Composites
• Solvay S.A.
• Mitsui Chemicals Inc.
• Arkema S.A.
• Teijin Limited
• Covestro AG
• Koninklijke DSM N.V.
• Sabic Corporation
• MaruHachi Corporation
• Suprem SA
• Shanghai Topolo New Materials Co. LTD
• SGL Carbon SE
• CompTape B.V.
• Avient Corporation
| Report Coverage || Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Thermoplastic Tape Market: Vendor Insights
The report highlights prominent market players who have established themselves as market leaders in the global thermoplastic tape market. Some of the key players operating in the global market are Evonik Industries AG, Toray Industries Inc., Solvay S.A., Teijin Ltd., Mitsui Chemicals Inc. and Sabic Corporation, among others.
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The global thermoplastic tape market is considered as consolidated with some market players holding prominent share of the market. Manufacturers in the thermoplastic tape market are investing in expansions and mergers to expand their product portfolio as well as their foothold in the market.
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Cloth Self-adhesive Tapes Market - Cloth tapes have been widely used across heavy engineering applications for decades. Cloth self-adhesive tapes find application in end use such as logistics, electrical and electronics, healthcare, etc. These tapes are generally strong and non-corrosive in nature.
Filmic Tapes Market - The rising demand for better sealing ad closing solution the packaging industry is leading to the world of manufacturers (e.g electronics)of different industries to the more use of filmic tapes market.
Nano Tapes Market - The rising demand for a 10times more adhesive than the lizard's feet for better packaging had led to the invention of nano tapes and nowadays it has become a very usual commodity for a wide range of usage which includes packaging, sealing, labelling, electrical insulation, stationery, and other general-purpose applications.
Replica Tapes Market - Rapid urbanization has powered the construction industry worldwide and it is affected positively in the growth of the residential, commercial and industrial construction sectors which led rise in replica tapes market growth.
Washi Tapes Market - The rise in growth of some industries leading to the demand for infrastructural development and construction sectors with additional business solutions has indirectly profited the washi tapes market.
Protective Films Tapes Market - This Protective Films Tapes market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape.
Spacer Tapes Market - Spacer Tapes Market is set to witness healthy growth during 2021-2031 with a CAGR of 5% to 7%. Demand from various industries in order to reduce labor costs for industrial packaging is creating higher number of opportunities for the market.
PVC Tapes Market - PVC tapes market expected to expand at a CAGR of 4-6% in between the forecast period. The modernization of the electrical grid and increasing penetration of consumer electronics across the globe is estimated to witness zealous growth in the PVC tape market in the coming assessment period.
Tabbing Tapes Market - The global tabbing tapes demand is estimated to increase by 4.5% year on year, bucking initial scepticism about how the market would perform during a global pandemic.
Splicing Tapes Market - Demand from the paper & printing sector and packaging industries are expanding at a rapid pace, due to increase in publication and digital print industry across the globe, and other critical factors are the driving factors of Splicing Tapes, it is forecasted that the market will show a CAGR of 2 to 3% in the forecast period 2021-2031.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Future market Insights Industrial Robotic Motors Market Tags Thermoplastic Tape Market Thermoplastic Tape Industry Thermoplastic Tape Market size Related Links
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