The global rubber tapes market share was quite strong in 2022 with a net valuation of US$ 914.8 million. It is further anticipated to generate a revenue of US$ 955.4 million in 2023. FMI analysis predicts that the market may record a CAGR of 4.5% during the forecast period. By following this moderate growth rate, the overall market value is anticipated to reach US$ 1,483.7 million by 2033.
Increased use of rubber tapes mainly for sealing disparate surfaces which are subjected to high pressure increasing its popularity. Moreover, in recent years rubber tapes have also turned out as a long-lasting alternative to nuts, bolts, and screws. Because of rubber’s high tensile strength, excellent insulating capacity, and low corrosive qualities, rubber tape use is expanding quickly. So, the sales could surge as a result of its growing need across many new sectors, including food and beverage, electrical, and automotive.
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Governments as well as international organizations are encouraging more use of rubber tapes as they want companies to switch to eco-friendly and affordable packaging options. Rubber processing industries are also expanding as a result of subsidies and efforts, strict rules surrounding the use of plastic, and increased sustainability awareness.
A significant issue that is anticipated to impede the worldwide sales of rubber tapes is fluctuations in raw material costs. The use of petroleum-based derivatives in the manufacture of rubber makes them more costly and less widely available.
Key Takeaways from the Rubber Tapes Market Study Report
- The global rubber tapes business is projected to witness an absolute growth of around US$ 530 million over the next ten years.
- The United States has surpassed many other countries in the production of rubber tapes and acquired a market share of 20.7% in 2022.
- Due to the surging demand for eco-friendly products in Europe, Germany could see a considerable expansion in the supply of rubber tapes in the coming days. In 2022 it generated 5.6% of the revenue from the rubber tape industries globally.
- India is anticipated to provide a greater growth opportunity during the forecast period. Due to its surging industrialization and proliferation of online retail. As per FMI, the overall sales of rubber tapes here are anticipated to grow at an annual growth rate of 6.7% through 2033.
- The EPR rubber tape captured 45.6% of the revenue in 2022.
- The electronics and electronics vertical is anticipated to see a considerable revenue increase during the projection period among different end-use industries.
Competitive Landscape for the Rubber Tapes Market Players
3M, HellermannTyton, Scapa, Intertape, Nitto Denko, Atlantex, Midsun, CS Hyde, and MOCAP are some key players in the global rubber tapes market. Options for partnerships and collaborations among leading market participants are expanding as a result of the emergence of many regional players.
The competition from regional players is likely to remain limited as businesses are subject to severe rules on the use of polymers and solvents. Additionally, substantial capital is needed for the manufacturing of rubber tapes with greater adhesion and reliability.
Prominent producers are concentrating more on the supply of double-sided rubber tapes and protection tapes gaining higher traction these days. Technological developments are encouraging its application in the aerospace and military industries and could drive market competition.
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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 Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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