Waterproof Tapes Market: Introduction
- Waterproof tapes are the adhesive tapes with a water resistant or waterproof design. These tapes are used in a wide range of applications such as sealing ducts, plumbing, window and door installations, etc. The waterproof tapes are thick, adaptable, and rubber treated due to which it finds application in various industries such as automotive, medicinal services, and packaging industry. These factors are expected to propel the demand for waterproof tapes during the forecast period.
Key Drivers and Opportunities of the Global Waterproof Tapes Market
- Waterproof tapes find wide utilization in the automotive industry. The tape is frequently used to join the parts of the inside and outside of vehicles. Furthermore, the tapes are used on a large scale in the healthcare sector for covering wounds, settling cover shields during medical procedures, and dealing with scraped spots and cuts in the medicinal services segment. In addition, waterproof tapes are utilized in fixing materials and for electrical protection to shield wires and cables. The extensive range of applications of waterproof tapes are likely to drive the market in the coming years.
- Growth of the construction and automotive industry in developing countries across the globe is expected to generate higher demand for waterproof tapes. Furthermore, the easy availability of raw materials which are used to manufacture the tapes is expected to create opportunities for manufacturers to cater to the rising demand for waterproof tapes from developing countries during the forecast period.
- However, fluctuations in raw material prices is one of the key factors restraining the growth of the waterproof tapes market. Furthermore, the Covid-19 pandemic has been continuously causing fluctuations in the price of raw materials and has restricted the production of waterproof tapes, which is thus expected to hinder the waterproof tapes market during the forecast period.
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Asia Pacific to Hold Major Share of the Global Waterproof Tapes Market
- In terms of region, the waterproof tapes market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is expected to remain the dominant region and hold major share of the waterproof tapes market during the forecast period. The developing countries of Asia Pacific are witnessing growth in the construction and automotive sector, especially India and China. The tapes are widely used in these sectors and have a wide range of applications, which is expected to fuel the demand for the tapes during the forecast period.
Key Players Operating in the Global Waterproof Tapes Market
- Abe Construction Chemicals
- Asian Paints Ltd.
- Avery Dennison Corporation
- Chowgule Construction Chemicals Pvt. Ltd.
- Johnson & Johnson
- Metalnastri S.R.L.
- Nitto Denko Corporation
- Scapa Group
- Shanghai Richeng Electronic Co., Ltd.
- Tape Spec
- The 3M Company
Global Waterproof Tapes Market: Research Scope
Global Waterproof Tapes Market, by Adhesive
- Others (Silicone, etc.)
Global Waterproof Tapes Market, by Substrate
- Others (Rubber, etc.)
Global Waterproof Tapes Market, by End-use Industry
- Building and Construction
- Others (Electronics, etc.)
Global Waterproof Tapes Market, by Price
Global Waterproof Tapes Market, by Distribution Channel
Global Waterproof Tapes Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.