New York, United States , May 20, 2024 (GLOBE NEWSWIRE) -- The Global Carpet Tape Market Size is Expected to Hold a Substantial Share by 2033, at a Compound Annual Growth Rate (CAGR) of 5.1% during the projected period.
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Carpet tape, a double-sided tape, is used for attaching carpets and rugs to the floor. It can prevent the carpet from slipping or wrinkling and keep it in place because it is made of a strong, long-lasting adhesive component. Carpet tape is used in homes with dogs or children, as well as in areas with high foot traffic, to ensure that the carpet remains in place. The furniture industry is becoming increasingly pushed by its growing presence in developing countries. The demand for carpets has increased as more people move to cities and adopt Westernised attitudes and lifestyles. The expanding e-commerce industry has further accelerated this trend on a global scale. One of the biggest winners in this scenario is the flexible plastics industry because it offers products that may change to meet the demands of customers. Thus, during the forecast period, these factors are driving market expansion. However, this increase is caused by supply chain disruption, geopolitical instability, and price variations, all of which have a significant impact on the manufacturing costs of double-sided tape manufacturers. Therefore, the limitations offer a substantial temporary barrier to the growth of the anti-corrosion coatings market.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Carpet Tape Market Size, Share, and COVID-19 Impact Analysis, By Adhesive Type (Rubber-based Carpet Tape and Acrylic-based Carpet Tape), By Application (Carpet Installation, Rug Binding, Temporary Floor Covering, and Others), By End-Users (Residential and Commercial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.”
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The acrylic-based carpet tape segment is expected to hold the largest share of the global carpet tape market during the anticipation timeframe.
Based on the adhesive type, the global carpet tape market is categorized into rubber-based carpet tape and acrylic-based carpet tape. Among these, the acrylic-based carpet tape segment is expected to hold the largest share of the global carpet tape market during the anticipation timeframe. They also have exceptional anti-aging qualities and retain their colour over time. Notably, they strike a fine balance between adhesion and cohesion to produce a high degree of peel, tack, and shear strength in addition to the ideal level of water resistance.
The rug binding segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the application, the global carpet tape market is categorized into carpet installation, rug binding, temporary floor covering, and others. Among these, the rug binding segment is expected to grow at the fastest CAGR during the anticipation timeframe. It's usually the simplest and most cost-effective approach to finish a carpet edge. Another benefit is the large range of colours and materials that can be used for binding. Almost any shade can be chosen by anyone to go with carpet.
The commercial segment is expected to hold a significant share of the global carpet tape market during the anticipation timeframe.
Based on the end users, the global carpet tape market is categorized into residential and commercial. Among these, the commercial segment is expected to hold a significant share of the global carpet tape market during the anticipation timeframe. This tape offers an easy and neat way to affix panels, signage, mirrors, and other construction elements, allowing for quick installation and creative versatility. This indicates that there is a steady demand for the product, which propels market growth and forces producers to develop innovative adhesive solutions to satisfy these rapidly evolving markets.
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North America is projected to hold the largest share of the global carpet tape market over the anticipation timeframe.
North America is projected to hold the largest share of the global carpet tape market over the anticipation timeframe. Many reasons contribute to North America's leadership in the carpet tapes business, such as the advancement of technology, the presence of significant tape manufacturers, and the development of infrastructure. It is anticipated that the tape business in the region will keep growing and innovating due to the increasing number of applications and the need for trustworthy and efficient adhesive solutions.
Asia Pacific is expected to grow at the fastest CAGR growth of the global carpet tape market during the anticipation timeframe. The market is anticipated to expand as a result of the quick industrialization of emerging countries and their ability to draw in foreign capital. These countries have a growing need for this tape for a range of applications. Emerging markets such as South Korea, China, Vietnam, and India are propelling this industry expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Carpet Tape Market include SURFACE SHIELD, 3M, tesa, Polyken, Avery Dennison, Advance Tapes International, ECHOtape, HALCO, Venturetape, Can-Do National Tape, Berry Global Inc., UK Industrial Tapes Ltd, GCP Applied Technologies, Roberts Consolidated Industries, Gorilla Glue Inc., Shurtape Technologies, and Others Key Vendors
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global carpet tape market based on the below-mentioned segments:
Global Carpet Tape Market, By Adhesive Type
- Rubber-based Carpet Tape
- Acrylic-based Carpet Tape
Global Carpet Tape Market, By Application
- Carpet Installation
- Rug Binding
- Temporary Floor Covering
- Others
Global Carpet Tape Market, By End Users
- Residential
- Commercial
Global Carpet Tape Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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