Sales of barrier tape are predicted to bring in a revenue of US$ 1.13 billion in 2023. By 2033, the barricade tape market is anticipated to reach US$ 1.74 billion, expanding at a CAGR of 4.4% from 2023 to 2033.
One of the primary drivers of the market is the growing construction industry. The construction industry is booming across the world, with an increasing number of projects underway in both developed and developing countries. The demand for barricade tape is increasing, as construction companies are looking for effective ways to set off danger zones and secure construction sites.
Another significant driver of the market is the increasing concern for workplace safety. Governments around the world have implemented regulations mandating the use of barricade tape in construction sites, industrial facilities, and other hazardous areas. This has led to an increase in demand for barricade tape, as it is an effective and economical solution for marking off danger zones. In addition to these drivers, the growing awareness about the production of barricade tape has led to the development of new and innovative products.
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In terms of revenue, North America is anticipated to account for a sizeable portion of the global barricade tape market during the forecast period. The expansion in this region is caused by a rise in infrastructure and construction activities, which is boosting the demand for barricade tapes.
Key Takeaways
- The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 4.31% through 2033.
- The United States dominated the market in 2022 holding a 20.8% share of the global market.
- With a CAGR of 7.64% over the forecast period, India is predicted to develop rapidly in the market.
- The market in China is expected to proliferate, registering a CAGR of 6.87% over the forecast period.
- Germany accounted for 5.1% of the global market in 2022.
- The 6 to 8 mm sub-segment of the thickness segment acquired a 40.2% share in 2022.
- The plastic sub-segment of the material type segment attained a 62.3% share in 2022.
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Competitive Landscape:
The top manufacturers of the barricade tape market include 3M Company, Shurtape Technologies, LLC, Brady Corporation, Scapa Group PLC, Tesa SE, Surface Shields, Inc., Advance Tape International Ltd., Vibac Group S.p.a., Mutual Industries, Inc., Custom Tape Ltd, Intertape Polymer Group Inc., Yuyao Laisifu Houseware Co., LTD, Nitto Denko Corporation, Ningbo Teagol Adhesive Industry Co., LTD, MAS Corporation, and others.
These businesses have employed a range of tactics to surpass their competitors. They place a high priority on distinguishing their goods and services, increasing productivity and quality, offering exceptional customer service, implementing cost-saving strategies, and building a strong sense of brand awareness. They have boosted their clientele and income by creating new products, buying other companies, making alliances, reforming their organizations, and cooperating.
Recent Developments:
- In June 2022, different flame-resistant adhesive tapes were invented by Tesa. tesa® flameXtinct, a novel tape that has previously found success in the construction sector, is also now deployed in the commercial transportation system. These novel adhesive tapes are entirely halogen-free and self-extinguish in the incident of a fire within a limited time.
- In September 2020, the construction and development company Skanska USA and 3M revealed that all mainline harnesses bearing the 3M DBI-SALA® brand are likely to work seamlessly with 3M Fall Protection Suspension Trauma Safety Straps.
Market Segmentation
By Thickness:
- Up to 2 mm
- 2 to 4 mm
- 4 to 6 mm
- 6 to 8 mm
- Above 8 mm
By Material Type:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Paper
- Aluminum Foil
- Cotton Fabric
By End Use:
- Industrial
- Building & Construction
- Automotive
- Mining
- Agriculture & Irrigation
- General Industrial
- Aerospace
- Non-Industrial
- Traffic Signs
- Crime Scenes
- Defense
- Restricted Areas
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