Magnetic Tape Market Report: Trends, Forecast and Competitive Analysis to 2030

Magnetic Tape Trends and Forecast

The future of the global magnetic tape market looks promising with opportunities in the data storage, packaging & labelling, and consumer appliance markets. The global magnetic tape market is expected to reach an estimated $11.3 billion by 2030 with a CAGR of 6.8% from 2024 to 2030. The major drivers for this market are elevating awareness about the imperative of safeguarding data integrity and confidentiality within enterprises, ever-growing accumulation of digital data produced and stored on a daily basis, and rapid expansion of interconnected devices and services hosted in the cloud.

A more than 150-page report is developed to help in your business decisions.

Magnetic Tape by Segment

The study includes a forecast for the global magnetic tape by type, end use industry, and region.

Magnetic Tape Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Synthetic Rubber
• PVC
• Others

Magnetic Tape Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Data Storage
• Packaging & Labeling
• Consumer Appliances
• Others

Magnetic Tape Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Magnetic Tape Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies magnetic tape companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the magnetic tape companies profiled in this report include-

• 3M
• Toshiba Corporation
• TDK Corporation
• Hitachi Metals
• Ampex Data System
• General Electric Company
• Sanbros Engineering Works

Magnetic Tape Market Insights

Lucintel forecasts that synthetic rubbers will remain the larger segment over the forecast period.

Within this market, data storage will remain the largest segment over the forecast period due to widespread adoption rate and straightforward implementation of data storage in magnetic tapes.

North America will remain the largest region over the forecast period due to increased consumer receptivity and strong demand from both the financial and packaging sectors, as well as, existence of robust high-end electronics market and elevated consumer expenditure levels in this region.

Features of the Global Magnetic Tape Market

Market Size Estimates: Magnetic tape market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Magnetic tape market size by type, end use industry, and region in terms of value ($B).

Regional Analysis: Magnetic tape market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, end use industries, and regions for the magnetic tape market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the magnetic tape market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the magnetic tape market size?

Answer: The global magnetic tape market is expected to reach an estimated $11.3 billion by 2030.

Q.2 What is the growth forecast for magnetic tape market?

Answer: The global magnetic tape market is expected to grow with a CAGR of 6.8% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the magnetic tape market?

Answer: The major drivers for this market are elevating awareness about the imperative of safeguarding data integrity and confidentiality within enterprises, ever-growing accumulation of digital data produced and stored on a daily basis, and rapid expansion of interconnected devices and services hosted in the cloud .

Q4. What are the major segments for magnetic tape market?

Answer: The future of the magnetic tape market looks promising with opportunities in the data storage, packaging & labelling, and consumer appliance markets.

Q5. Who are the key magnetic tape market companies?

Answer: Some of the key magnetic tape companies are as follows:

• 3M
• Toshiba Corporation
• TDK Corporation
• Hitachi Metals
• Ampex Data System
• General Electric Company
• Sanbros Engineering Works

Q6. Which magnetic tape market segment will be the largest in future?

Answer: Lucintel forecasts that synthetic rubbers will remain the larger segment over the forecast period.

Q7. In magnetic tape market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to increased consumer receptivity and strong demand from both the financial and packaging sectors, as well as, existence of robust high-end electronics market and elevated consumer expenditure levels in this region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the magnetic tape market by type (synthetic rubber, PCV, and others), end use industry (data storage, packaging & labeling, consumer appliances, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?