Tapes Market Sales To Reach A Value Of US$ 120.1 Bn By 2032 - Comprehensive Research Report By FMI

Tapes Market to Register 4.8% CAGR; Demand for Pressure Sensitive Tapes to Remain Exclusively High

DUBAI, United Arab Emirates, March 29, 2022 (GLOBE NEWSWIRE) -- The global tapes market is growing at a CAGR of 4.8% in the forecast period. Surging demand for masking and pressure sensitive tapes will result in high growth of the market.

Tapes Market Size (2022E)US$ 74.8 Bn
Projected Tapes Market Size (2032F)US$ 120.1 Bn
Value CAGR (2022-2031)4.8%
Top 5 Countries Market Share, 2022E56.5%

During 2015-2021, the global tapes market grew at a CAGR of 3.4%. The period saw the arrival of new market participants and product advancements, which fueled demand in the global tapes market.

Expansion of the building and construction industry is expected to create impressive prospects for growth of the tapes market. The building and construction sector is diverse, encompassing industrial construction, real estate, and repair and maintenance among others.

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Therefore, consistent growth in the industry is expected to offer conducive environment for the tapes market growth. Besides this, the demand for tapes is expected to remain considerably high in the automotive sector.

China is one of the leading tape production markets, accounting for 20% of worldwide market value in 2022. With technological advancements, economies of scale, and inexpensive labor, Asia now accounts for about half of the global tapes market.

Key Takeaways from Global Tapes Market

  • The pressure-sensitive tape segment will remain top performing in terms of tapes type, representing nearly ~65% of the sales by the end of the forecast period.
  • Demand for tapes in the building and construction segment will accelerate at a CAGR of 5.1% between 2021 and 2031.
  • The China tapes market projected to register a CAGR of 5.6% during the forecast period.
  • Germany will emerge as a highly lucrative market for the sales of tapes within Europe.
  • The U.S. will register high sales of tapes, backed by demand in construction and automotive sectors.

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“Companies operating in the tapes market are expected to focus on diversification to cater to specific industrial requirements. Besides this, they are expected to gradually migrate to online platforms to expand their global reach,” said an FMI analyst.

Building and Construction Sector is the Key Driver of Global Tapes Market

Tape producers have developed a diverse array to fulfil the demand for a wide range of indoor painting applications. This has resulted in the high demand for masking tapes. The sales of masking tapes is driven by their ease of use and low cost of, as well as the availability of single-sided and double-sided masking tapes.

Leading automotive manufacturers and suppliers rely heavily on diverse adhesive solutions for a variety of applications. Masking tapes have diverse uses within the automotive sector. These include wire harnessing, surface protection, and attachment part mounting.

Global Tapes Market Landscape

Some of the leading players included in the global tapes market analysis are 3M Company, Shurtape Technologies LLC, Tesa SE, Saint-Gobain Tape Solutions Europe, Nitto Belgium NV, Advance Tapes International Ltd., PPM Industries S.p.A, Vibac Group S.p.a, Intertape Polymer Group Inc., Berry Global, Inc., Beorol d.o.o, Folsen Tapes, FABO s.p.a., Scapa Industrial, Cintas Adhesivas Ubis, S.A., MBK Tape Solutions, NADCO® Tapes & Labels, Inc., Pro Tapes & Specialties, Inc., Sicad Group and PPI Adhesive Products Limited. Based on the segmental revenue FMi team estimates that 3M Company, Shurtape Technology LLC, Tesa SE, are some of the Tier 1 players holding nearly 12-15% values share in the global tapes market.

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Scope Of The Report

Forecast Period2022-2032
Historical Data Available for2015-2021
Market AnalysisUS$ Mn for Value and Mn. Sq. M. for Volume
Key Countries CoveredUS, UK, China, Japan, India, Japan, South Korea, Canada, Brazil, Mexico, Argentina, Germany, Spain, Russia, Poland, Nordics, Australia, New Zealand, Thailand, Indonesia
Key Segments CoveredTape Type, Material, End Use, and Region
Key Companies Profiled   •   3M Company
   •   Nitto Denko Corporation
   •   Avery Dennison Corporation
   •   Berry Global Group Inc.
   •   Saint Gobain Corporate
   •   Sonoco Products Company
   •   Intertape Polymer Group Inc
   •   Shurtape Technologies, Llc
   •   PPM Industries SpA
   •   Pro Tapes & Specialities Inc
   •   Kruse Adhesive Tape, Inc
   •   ADH Tape
   •   tesa SE Group
   •   Atlas Tapes SpA
   •   Sicad SpA
Report CoverageMarket Forecast
Customization & PricingAvailable upon Request

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About Future Market Insights (FMI) 

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers. 


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