The global Electrical Tapes Market Size is predicted to grow at a 5.52% CAGR over the forecast period (2020-2027), reveals the Market Research Future (MRFR) report. Electrical tape simply put, is a safety tape for wires, that is used to cover as well as insulate various forms of wires and cables and other forms of materials which conduct electricity. It is also known as thermal insulation or insulating tape, and its use in the home and workplace settings are widespread. These tapes are available in an array of thickness and widths for different applications and in various materials and colors for accurate color coding, and optimal insulating properties for safety purposes.
Various factors are driving the growth of the Electrical Tapes Market Size. These factors, in accordance with the Market Research Future (MRFR) report, include growing awareness among manufacturers about the convenience of tapes, increasing demand for eco-friendly and pressure-sensitive tapes, and robust growth in the construction industry. Additional factors driving the market growth include the alluring chemical and physical properties of electrical tapes such as strength, durability, high productivity, elasticity, and resistance to UV rays, moisture, and high temperature.
On the other hand, fluctuations in the cost of raw materials may deter the Electrical Tapes Market Size growth over the forecast period.
Based on type, the Electrical Tapes Market Size is segmented into polyester film tapes, polyimide tapes, rubber tapes, cloth electrical tapes, PVC electrical tapes, and others.
Based on application, the Electrical Tapes Market Size is segmented into automotive, aerospace, electrical/electronic, construction, and others.
Based on the region, the Electrical Tapes Market Size report covers growth opportunities and the latest trends across the Asia Pacific, North America, Europe, and Rest of the World. Of these, the APAC region will lead the market over the forecast period as the sales of electrical tapes here is the highest. There is an extensive increase in the number of industries that are operating in the healthcare, electronics, construction, and automotive sectors. This, in turn, will increase the need for wiring harness or other electrical components which will push the market growth. The APAC region is predicted to grow at a 5.67% CAGR over the forecast period.
The Electrical Tapes Market Size in North America will have the second largest share in the market over the forecast period. It is predicted to grow at a 5.37% CAGR. The expansion of the food & beverage sector in the US is benefitting the market owing to the demand for corrugated packaging. Moreover, growing awareness regarding the use of eco-friendly tapes to abide via governmental regulations is the key factor pushing the market growth in this region.
The Electrical Tapes Market Size report in Europe will have a healthy growth over the forecast period. Increasing upgradation, rehabilitation, and repair of the current infrastructure, and distribution networks and power grids are pushing the market growth in this region. Germany and the UK are the key markets in this region. The leading market players have invested heavily in their R&D activities to create new, efficient, and innovative electrical tapes that are pushing the market growth.
Leading players profiled in the Electrical Tapes Market Size report include Parafix Tapes & Conversions Ltd. (UK), Godson Tapes Private Limited (India), Euro Tapes Pvt. Ltd (India), PPM Industries UK LTD (UK), H-old S.P.A (Italy), Electro Tape Specialties, Inc. (US), ProTapes & Specialties, Inc. (US), Plymouth Rubber Europa, S.A. (Spain), Teraoka Seisakusho Co., Ltd. (Japan), Nitto Denko Corporation (Japan), The 3M Company (US), HellermannTyton (UK), Intertape Polymer Group Inc. (Canada), and Avery Dennison Corporation (US), among others.
September 2018: NSi Industries, LLC has launched an extensive variety of electrical tapes in three performance grades- general, select, and premium. Named WarriorWrap, it is available in 10 different shades per grade, offering reliable solutions for all high and low-voltage environments.
Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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