(MENAFN- America News Hour)
Kenneth Research recently added a report on ' Non-Woven Tape Market ' which offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. The report contains the market size and annual growth rate for a forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Non-Woven Tape Market products.
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On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
Global Non-Woven Tape Market was valued at USD 3.32 Billion in the year 2017. Global Non-Woven Tape Market is further estimated to grow at a CAGR of 7.4% from 2019 to reach USD 5.82 Billion by the year 2025. In the Global Non-Woven Tape Market, by region Asia Pacific region holds the highest Market share in 2017 and is also Market is considered as the fastest growing Market in the forecasted period owing to their Market demands. At a country level, China and India in Asia-Pacific are projected to grow strongly in the coming years and China is expected to lead the demand for non-woven tapes in the Asia Pacific region.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Major market players in Non-Woven Tape Market are TESA SE, Nitto Denko Corp., 3M Company, Nichiban Co. Ltd., Avery Dennison Corp., Lintec Corp., Scapa Group, Berry Global Group, Paul Hartmann AG, Intertape Polymer Group, and brief overview of 10 companies is also provided in the report.
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SWOT analysis of Non-Woven Tape Market:
Strength:
Rising Use of Non-Woven Tapes in Several End-Use Industries
Weakness:
Changing government regulations and norms.
Fluctuating prices of raw materials
Opportunities:
Growing Healthcare Market in Emerging Economies
Threats:
Intense Competition from Chinese Players
High Cost and restriction on the use of raw material
The segmentation is done on the basis of adhesive tape, by backing material, by end users, and by region. On the basis of adhesive types, the non-woven tape Market has been classified into acrylic, rubber, and silicone. The silicone-based non-woven tape segment is expected to grow at the highest CAGR in terms of value.
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Non-Woven Tape Market Segmentation:
By Backing Material
*Polyester-Backed Non-Woven Tape
*Paper-Backed Non-Woven Tape
*Others
*End Users
*Medical & Hygiene
*Automotive & Transportation
*Electrical & Electronics
*Others
By Adhesive Type
*Acrylic-Based Adhesive
*Rubber-Based Adhesive
*Silicone-Based Adhesive
By Region
*North America
o USA
o Canada
*Europe
o Germany
o U.K.
o France
o Italy
o Rest of Europe
*APAC
o China
o India
o Japan
o Rest of Asia-Pacific
*RoW
o Latin America
o Middle East & Africa
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About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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