Electrical Tape Market Growth, Share, Size, Trends, Price, Analysis, Report, Forecast 2023-2028
The ‘Global Electrical Tape Market Growth, Size, Share, Price, Trends, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global electrical tape market, assessing the market based on its segments like material, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Electrical Tape Market Share, Size, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 13.95 billion
• Forecast CAGR (2023-2028): 4.20%
• Forecast Market Size (2028): USD 17.77 billion
The market for electrical tapes is growing as a result of rising consumer preference for electrical tapes over traditional adhesive tapes due to their user-friendliness and safety as well as increased demand for electrical tapes from various industries due to their qualities such as heat resistance and dielectric strength. The booming worldwide construction sector’s need for these tapes in a range of colours and materials is also having a beneficial impact on the electrical tape market growth.
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Technical advancements, increasing usage in the automotive industry, and rising consumer desire for ecologically friendly and sustainable pressure-sensitive tapes are all expected to support the market for electrical tapes throughout the forecast period. The growth of the manufacturing sector in both developing and developed nations, as well as the increased public awareness of the advantages and benefits of electrical tapes are also expected to support the electrical tape market growth.
Electrical Tape Industry Definition and Major Segments
Electrical tape, also known as electrical insulation tape, is a pressure-sensitive tape that is used to repair and insulate electrical wires as well as other materials that are able to conduct electricity. Electrical tapes can be constructed of cloth, vinyl, or polymers and are extensively used in many different electrical applications, including as insulation in the frameworks of electrical equipment. The expansion of the electrical tapes market is being fuelled by the electrical tapes’ excellent resistance to UV radiation, dust, moisture, acids, dirt, solvents, and temperature.
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Based on material, the market is divided into:
• PVC Tapes
• Glass Cloth Tapes
• PET Tapes
On the basis of application, the market is segmented into:
• Electrical and Electronics
Based on region, the market is categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Electrical Tape Market Trends
PVC tapes are predicted to have a high revenue share among the material segments in the global electrical tape market due to their improved properties, which include suitability for insulation, bundling, maintenance, colour coding, general availability, and better protection of electrical wires and parts at a lower cost. PVC tapes are suited for outdoor application since they are durable and corrosion resistant. The wide usage of PVC electrical insulating tapes is a key trend in the market for electrical insulation tape.
Glass cloth tapes are advisable when exposure to high temperatures for an extended period of time is likely. They are made of polyester film that has been strengthened with glass fibre strands and are widely used as heat-resistant insulating layers.
Due to the rising demand for electrical tapes in electrical and electronic applications, the market in the Asia Pacific is predicted to develop at a high CAGR over the forecast period. The expansion of end-use industries is predicted to further boost the electrical tape market in the Asia Pacific region.
Key Market Players
The major players in the global electrical tape market are:
- tesa SE
- 3M Company
- Intertape Polymer Group
- Avery Dennison Corporation
- Nitto Denko Corporation
- HellermannTyton GmbH
- Teraoka Seisakusho Co., Ltd.
- Fujian Youyi Adhesive Tape Group Co., Ltd.
- A&G Manufacturing Co. Inc.
- Scapa Industrial
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers, and acquisitions, among other latest developments of the major market players.
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