Insulation Tape Market Overview, Size, Share | Outlook and statistics, segmentation and forecast to 2028
Insulating Tape Market Size – $ 1.37 Billion in 2020, Growth – at 2% CAGR Trends – Expanding Electrical and Construction Industry
NEW YORK, NY, USA, Nov 22, 2021 /EINPresswire.com/ – Growing awareness among manufacturers of the convenience of these tapes and robust growth in the construction industry is believed to drive market growth
The global insulating tape market size is expected to reach $ 1.64 billion in 2028, registering a 2% CAGR over the forecast period, according to a latest report from Reports and Data. The major factors driving the market revenue growth are the growing awareness of manufacturers of the convenience of these tapes and the robust growth of the construction industry.
Insulating tape is a form of pressure sensitive tape used to insulate electrical wires and other electrically conductive materials. Insulation tape is available in a variety of polymers, but vinyl is a popular choice because it stretches well and provides excellent, long-lasting insulation. Pressure sensitive tapes and adhesives are used in the electronics industry to insert parts directly into devices.
A key driver of the electrical tape market is the trend towards miniaturization of electronic devices, especially cell phones, portable personal computers and tablets. One of the most common end users of pressure sensitive insulating adhesive tapes is the electronics and electrical appliance industry. The industry has grown at breakneck speed. Higher disposable income, changes in people’s lifestyles, and increased dependence on the use of electronic devices are all factors that drive sales of electronic devices around the world. Wiring harnesses, electrical insulation, auto body repairs, masking and surface protection are just a few of the applications of insulating tape. The increasing use of insulating tape in automotive interior parts to offer increased strength and adhesion is expected to drive the insulating tape market during the forecast period.
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Wire clamps and heat shrink tubing are two electrical and thermal insulation replacements available on the market. Compared to insulating adhesive tapes, these are offered at a more reasonable price.
The major players in the global insulating tape market are:
3M, Achem (YC Group), Tesa (Beiersdorf AG), Nitto, IPG, Scapa, Saint Gobin (CHR), Four Pillars, H-Old, Plymouth, Teraoka, Wurth, Shushi, Yongle, Yongguan adhesive, Sincere, Denka, Electric Furukawa.
Some highlights of the report:
The insulating tape market is segmented on the basis of type into fabric, PVC, PET and others. PVC insulating tape accounted for the largest share of revenue in 2020.
On the basis of application, the insulating tape market is segmented into electrical and electronics, communication, automotive, aerospace, and others. Of these, the electricity and electronics segment is expected to account for the largest share of market revenue due to the expansion of urbanization and industrialization.
Asia-Pacific is expected to consistently account for the largest revenue share of the Insulating Tapes market during the forecast period as the sales of insulating tapes are the highest in this region.
The Americas together hold the second largest market revenue share in the global insulating tape market and is expected to register a CAGR of 5.3% during the forecast period.
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Segments covered in the report:
This report forecasts revenue growth at the global, regional, and country level and provides an analysis of industry trends in each of the sub-segments from 2020 to 2027. For the purpose of this study, Reports and Data segmented Electrical Tape market depending on type, application and region:
Electricity and electronics
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Middle East and Africa
Benefits of the Insulating Adhesive Tape Market report:
Analysis of the changing competitive dynamics of the industry
Futuristic outlook on factors driving and restraining market growth
An in-depth 8-year forecast along with market growth forecast
Comprehensive analysis of key product segments and their growth estimate for easy understanding
Provides a competitive advantage to companies operating in the market
Strategic recommendations to established companies as well as to new entrants in the industry
In-depth analysis of market segments and comprehensive market overview to help formulate investment strategies
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