In the present year of 2023, the rubber tapes market is approximated to have a value of about US$ 955.4 million. As rubber tape sales continue to flourish at a consistent 4.5% CAGR, industry experts anticipate the market’s worth to surge to a substantial US$ 1,483.7 million by the year 2033.
Recent data from the Global Tape Forum highlights the United States as the world’s second-largest producer of tapes. The country’s tape market is poised for significant growth, driven by the expanding building and construction sector, along with a rising demand for rubber tapes in electronics and electrical applications. The aerospace and defense industry’s intensified research and development efforts are anticipated to further boost the demand for rubber tapes.
Moreover, the growing adoption of insulating and joining tapes in general manufacturing industries is set to contribute to market expansion. According to Future Market Insights (FMI), total sales of rubber tapes in the United States are expected to reach US$ 189 million in 2022 and are projected to surpass US$ 260 million by 2033, reflecting a promising trajectory of growth.
China’s dominance in the global vehicle market, as per data from the International Trade Administration, is undeniable, with record-breaking manufacturing and sales figures. In 2020, the country witnessed the sale of over 25 million vehicles, comprising 19.9 million passenger vehicles and 5.23 million commercial vehicles. This remarkable automotive sector expansion is poised to generate heightened demand for rubber tapes within China.
The nation’s appeal to manufacturers is further accentuated by factors like abundant raw material availability, cost-effective production technologies, and a pool of low-cost labor. These advantages are driving more manufacturers to establish production facilities within China’s borders. Consequently, sales are projected to surge significantly, potentially increasing by 1.7 times over the forecast period, signifying substantial growth opportunities in the rubber tapes market within the country.
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Recent Developments by the Rubber Tapes Industries
- In September 2019, 3M Company made the Scotch High Tack Box Sealing Tape 375+ available in the market to expand its product line. This newly released tape is mainly designed for industrial packaging purposes that may be utilized for wrapping tasks including sealing and splicing. It is an improved version of Scotch 375+, which is a very high-performing tape from 3M known for rapid adhesive and strong holding power.
- In January 2022, tesa SE announced its plan to start a new plant in Haiphong, Vietnam, with a production capacity of 40 million square meters of adhesive tapes per year.
The Major Key Players Are:
- 3M Company
- HellermannTyton Company
- Scapa Group plc
- tesa SE
- Intertape Polymer Group Inc.
- Berry Global Inc.
- Nitto Denko Corporation
- Atlantex Manufacturing Corp
- Midsun Specialty Products, Inc.
- CS Hyde Company
- MOCAP, LLC
- Parafix Tapes & Conversions Ltd
- Cole-Parmer Instrument Company, LLC
- Senson Tek
- ERGOM Z.A.E. Sp. z o.o
- Godson Tapes Private Limited
- 3A Associates Incorporated
- Omega Rubber Industries
Market Drivers-
- Automotive Industry Growth: The automotive sector, which extensively uses rubber tapes for various applications, is experiencing continuous expansion. As the number of vehicles on the road increases, so does the demand for rubber tapes.
- Construction and Building Sector: The building and construction industry relies on rubber tapes for sealing, insulation, and various applications. The growing construction activities, particularly in emerging markets, fuel the demand for rubber tapes.
- Electrical and Electronics Applications: The electronics and electrical sectors utilize rubber tapes for insulation and protection. With the increasing use of electronics in various industries, the demand for these tapes is on the rise.
- Industrial and Manufacturing Usage: General manufacturing industries employ rubber tapes for a wide range of purposes, including bonding and sealing. As manufacturing activities expand, so does the requirement for these tapes.
- Globalization of Production: The globalization of manufacturing and trade encourages the establishment of production facilities in countries with cost-effective resources, such as China. This trend boosts the demand for rubber tapes in these regions.
- Easy Availability of Raw Materials: Access to raw materials and cost-effective production technologies enables efficient and affordable manufacturing of rubber tapes, supporting market growth.
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Rubber Tapes Market By Category
By Product Type:
- Ethylene Polypropylene Rubber (EPR) Rubber Tapes
- Polyisobutylene (PIB) Rubber Tapes
- Butyl Rubber Tapes
- Other Product Types
By Thickness:
- Up to 0.3 mm
- 0.4 mm to 0.6 mm
- 0.7 mm to 0.9 mm
By Application:
- Repairing & Protecting
- Insulation & Joining
- Waterproofing
- Sealing
- Other Applications
By End-use Industry:
- Automotive
- Building & Construction
- Electrical & Electronics
- Aerospace & Defense
- General Industries
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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