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Specialty Tapes Market size is valued at around US$ 40.1 billion in 2021 and is forecast to grow at a CAGR of 5.0% during 2022-2027.
HYDERABAD, TELANGANA, INDIA, November 24, 2022 /einpresswire.com / -- specialty tapes market size is valued at around US$ 40.1 billion in 2021 and is forecast to grow at a CAGR of 5.0% during 2022-2027. Specialty tapes offer precise designs for particular applications that enrich the capabilities of the adhesive solution. These are widely adopted owing the superior adhesion properties and chemical and abrasion resistance. The other properties of these tapes include tensile strength, peel strength, temperature resistance, abrasion resistance, and weather resistance. The resin used in specialty tapes is acrylic, synthetic rubber, polyvinyl chloride, silicone, and phenolic including others. These resins offer several benefits, for instance, silicone adhesive is fungus resistant, UV resistance, and weather resistant. Width and thickness are the important aspect of specialty tape to be considered while manufacturing, however, length is specified by the user at the time of application. Specialty tape includes silicone adhesive tape, pressure sensitive tape, and other specialty tapes which are extensively used for splicing, bonding, and assembly. It is also used as sealing tape and masking tapes in several applications. Currently, specialty tapes are replacing fasteners, rivets, and other liquid adhesive solution in range of industries owing to their cost effectiveness, pleasing aesthetics, availability of colors, and different grades.
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Key takeaways:
This IndustryARC report on the Specialty Tapes market highlights the following areas -
1. Asia-Pacific is the fastest growing region in the global specialty tapes market. This growth is mainly attributed to the presence and growth of key end use industries specifically in China, Japan, India, and South Korea.
2. Acrylic is the highly used resin for the manufacturing of specialty tapes which can be solvent-based or water based. They form a stronger bond and can be utilized under high temperature.
3. Specialty tapes are remarkable substitute for rivets, fasteners, and other liquid adhesive which is expected to provide significant growth opportunity for the global market.
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Segmental Analysis:
1. Specialty Tapes Market Segment Analysis – By Resin Type : The acrylic segment held the largest share in the specialty tapes market in 2021 and accounts for around 30% of share in the global market. Acrylic specialty tapes are widely used in automotive industry and provide superior bonding strength to plastic and metal as compared to other technologies. Acrylic tapes offers excellent performance, durability, and suitable to use in high temperature applications. It delivers good UV light resistance and superior solvent and moisture resistance.
2. Specialty Tapes Market Segment Analysis – By End-Use Industry : The healthcare industry segment is projected to grow with a highest CAGR of around 7.0% during the forecast period. Specialty tapes is cost efficient alternative for other adhesives, light in weight, and easy to apply as compared to other fasteners. These tapes comply with the basic requisites to be used in medical and healthcare application as it is come in contact with skin in these applications.
3. Specialty Tapes Market Segment Analysis – By Geography : The Asia-Pacific is the fastest growing region and is estimated to grow at a CAGR of 7.7% during the forecast period. This growth is mainly attributed to the surge in demand for specialty tapes in various end-use industries in the region. These tapes are extensively used in electrical and electronics, automotive, healthcare, white goods, building and construction, paper and printing, and aerospace including many others.
Competitive landscape:
The top 5 players in the Specialty Tapes industry are:
1. 3M Company
2. Nitto Denko Corporation
3. Tesa SE
4. Lintec Corporation
5. Avery Dennison Corporation
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Related Reports:
A. Double Sided Tape Market
B. Seal Adhesive Tape Market
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