Market Research Report
Specialty Tapes Market by Resin (Acrylic, Rubber, Silicone), Backing Material (Pvc, Woven/Non-Woven, Paper), End-Use Industry (Healthcare& Hygiene, Automotive, Electrical & Electronics), and Region - Global Forecast to 2026
|Specialty Tapes Market by Resin (Acrylic, Rubber, Silicone), Backing Material (Pvc, Woven/Non-Woven, Paper), End-Use Industry (Healthcare& Hygiene, Automotive, Electrical & Electronics), and Region - Global Forecast to 2026|
Published: July 26, 2021
Content info: 267 Pages
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The global specialty tapes market size was USD 45.9 billion in 2020 and is projected to reach USD 67.2 billion by 2026, at a CAGR of 6.4% between 2020 and 2026. The market growth of specialty tapes in the APAC region can be attributed to the growth in the end-use industries such as electricals & electronics, healthcare & hygiene, automotive, white goods, paper & printing, retail & graphics, and building & construction in China, India, Japan, South Korea, Indonesia, and Taiwan. The specialty tapes market is anticipated to restrain in the coming years owing to the volatility in raw material prices.
The driver of the specialty tapes market is its wide acceptance in various end-use industries such as electrical & electronics, healthcare & hygiene, automotive, building & construction, white goods, paper & printing, retail & graphics, and others. Specialty tapes are extensively used due to their properties, such as the ability to inhibit corrosion, superior bonding, and aesthetics. However, high price of backing material, volatility in crude oil prices, and the effect of the recession on end-use industries such as electrical & electronics, healthcare & hygiene, automotive, white goods, paper & printing, building & construction, retail & graphics, and others are majorly restraining the market growth.
"Socio-economic developments including rising disposable income in developing countries is expected to drive specialty tapes market in the electrical & electronics end-use industry"
APAC is the fastest-growing specialty tapes market in the electrical & electronics end-use industry. These tapes have excellent impact strength and are resistant to chemicals. Growth could be offset by the evolution of electronics components into smaller sizes and hence using fewer tapes. The net gain, however, is based on the growth of electronics, not the downsizing of micro-electronics. The main driver of the electrical & electronics industry is socio-economic developments, including the growth of disposable income, particularly in the developing and emerging markets. This is especially expected to happen in APAC and North America over the next five years. The market in China, India, and other rapidly developing countries is expected to witness strong growth in this segment, whereas developed markets such as the US, Germany, Japan, and the UK will witness slow growth during the forecast period.
"Acrylic specialty tapes is the fastest-growing resin segment of the specialty tapes market."
Acrylic was the largest resin type, in terms of volume and value, in the specialty tapes market
in 2020. The demand for acrylic specialty tapes is increasing majorly in APAC because of the growing electrical & electronics, healthcare & hygiene, and automotive industries in the region. The properties of acrylic specialty tapes make them more favorable in North America and Europe, where environmental regulations regarding solvent-based technology are very strict. Also, the price of acrylic specialty tapes is comparatively lower than other types.
"APAC is the fastest market for specialty tapes during the forecast period."
APAC is the fastest-growing specialty tapes market due to the growth in the end-use industries such as electricals & electronics, healthcare & hygiene, automotive, white goods, paper & printing, retail & graphics, and building & construction in China, India, Japan, South Korea, Indonesia, and Taiwan. The leading global players are shifting their production base, establishing sales offices, and enhancing distribution channels to developing regions, including APAC, which offer sustained demand to increase their profit margins. The gradual shift of manufacturing facilities to countries having high demand and lower production cost is positively influencing the market growth.
Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and sub-segments.
The key companies profiled in this report are 3M Company (US), Nitto Denko Corporation (Japan), tesa SE (Germany), Lintec Corporation (Japan), Avery Dennison Corporation (US), Scapa Group Plc (UK), Intertape Polymer Group, Inc. (US), Berry Global Inc. (US), Saint-Gobain Performance Plastics Corporation (France), and Lohmann GMBH & Co. Kg, Nichiban Co. Ltd (Germany).
The specialty tapes market has been segmented based on type (single-walled specialty tapes and multi-walled specialty tapes), method (chemical vapor deposition, catalytic chemical vapor deposition, high-pressure carbon monoxide reaction, and others), end-use industry (electronics & semiconductor, energy & storage, chemical material & polymers, medical, structural composites application, others), and region (APAC, Europe, North America, South America, and Middle East & Africa).
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From an insight perspective, this research report focuses on various levels of analyses - industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)**