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 reveals the United States as the world’s second-leading producer of tapes, positioning the nation for significant growth. The expansion of the building and construction sector, coupled with a rising demand for rubber tapes in electronics and electrical applications, indicates a potentially lucrative market. The aerospace and defense industry’s increased research and development activities are anticipated to further drive demand for rubber tapes. Additionally, the growing adoption of insulating and joining tapes across general manufacturing industries is expected to contribute to overall market growth. According to FMI, the total sales of rubber tapes in the United States are projected to reach US$ 189 million in 2022, with an anticipated increase to over US$ 260 million by 2033, underscoring a robust and expanding market.
China solidifies its position as the global leader in the automotive market, boasting both the highest manufacturing and sales figures, as per statistics from the International Trade Administration. In 2020, over 25 million vehicles were sold, comprising 19.9 million passenger vehicles and 5.23 million commercial vehicles. This robust automotive sector is poised to stimulate demand for rubber tapes in the country.
The allure of easy access to raw materials, cost-effective production technologies, and abundant cheap labor is prompting manufacturers to establish production facilities in China. This trend is expected to drive a substantial 1.7 times increase in sales over the forecast period. The combination of a thriving automotive industry and favorable manufacturing conditions positions China as a key player in the global market for rubber tapes.
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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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