Global Specialty Tape Market: Snapshot
Specialty tape manufacturers are embracing technological development in both adhesive as well as material component. Investment in research and development is also increasing in order to understand what product innovation and development need to be focused on to meet the demand of various industries. Owing to the constant requirement of high-performance adhesives, solvent technology is being used on a large scale. However, water-based tapes and hot melt tapes are also gaining traction in the specialty tape market. Moreover, the use of specialty tapes in the automotive sector is also rising, especially the use of acrylic foam tape has increased as it provides strong bonding to metal and plastic. Meanwhile, specialty tapes are also witnessing growth in medical sector driven by the increasing use of adhesive-based wound care products.
As per the report by Transparency Market Research (TMR), the global market for specialty tape is likely to experience steady growth during 2017-2026, registering CAGR of 5.7%. The global market for specialty tapes is also estimated to bring in US$ 9,907.1 million revenue by 2026 end.
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Top-Selling Product- Woven/Non-Woven Specialty Tape
Compared to the various types of specialty tapes, woven/non-woven specialty tapes are likely to emerge as one of the top-selling products during 2017-2026. Woven/non-woven specialty tapes are estimated to surpass US$ 1,900 million revenue by 2026 end. Meanwhile, PVC (Polyvinyl chloride) specialty tapes are also likely to show strong growth in the global market for specialty tape between 2017 and 2026.
Electronics & Electricals to Witness Robust Growth in the Global Market for Specialty Tape
Electronics & Electricals segment is likely to witness robust growth during 2017-2026. Electronics & electricals are estimated to bring in nearly US$ 2,700 million revenue towards 2026 end. Meanwhile, the automotive sector is also likely to witness strong growth in the global market for specialty tape during 2017-2026. The replacement of traditional forms of tape materials with advanced specialty tapes in electronics segment is fueling the growth of the market. Also, specialty pressure sensitive tapes are finding large application in the automotive sector.
Asia Pacific Excluding Japan (APEJ) to Dominate the Global Market for Specialty Tape
APEJ is likely to emerge as one of the dominating regions in the specialty tape market. Socio-economic development in countries such as India and China is resulting in the rapid growth of electronics and automotive industry, thereby contributing to the growth of specialty tape market in the region. Moreover, manufacturers are also focusing on improving quality of specialty tapes by hiring skilled workforce and adopting new technologies for better results. Increasing infrastructure development in APEJ is also resulting in the growing demand for specialty tape in the construction sector. However, stringent regulations on VOC emission is likely to hamper the growth of the market in APEJ. Meanwhile, North America and Europe are also likely to experience growth during 2017-2026. New developments in automotive, electronics and healthcare sectors are driving the growth of specialty tapes in North America and Europe.
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Competition Tracking
The report provides a detailed profile on some of the players operating in the global market for specialty tape such as Nitto Denko Corporation, LINTEC Corporation, Henkel Corporation, Tesa SE, 3M, Saint-Gobain Performance Plastics, Sekisui Chemical Co., Ltd., E. I. du Pont de Nemours and Company, Intertape Polymer Group, ECHOtape, Avery Dennison Corporation, Scapa Group plc, Xinapse Systems Ltd, Siemens Healthineers, and Toshiba Medical Systems Corporation. Various market players are entering into a partnership in order to offer a better product and to set footprints in various regions.
