Rubber Tapes Market sales growing at a 4.4% CAGR, at projected to total US$ 1.4 Bn by 2032, Says FMI

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DUBAI, U.A.E, Feb. 23, 2022 /PRNewswire/ -- As per the latest market analysis by Future Market Insights (FMI), the global rubber tapes market is projected to expand at a steady 4.4% CAGR, reaching US$ 1.4 Bn in 2032. Increasing demand for rubber tapes from the electronics and construction sectors is expected to boost sales by 1.6 times between 2022 and 2032.

Demand for heavy-duty adhesive material is expected to increase as a result of rapid industrialization across the world. Electronics and electrical industries account for the maximum demand for rubber tapes for sealing cables and equipment.

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Rubber tapes are manufactured using durable materials with high strength and waterproofing abilities. They are available in a wide range of adhesion quality as per the requirement of end users. Key players are focusing on the manufacturing of heavy-duty tapes for contractors and industrial job site applications. Heavy rubber tapes are essential for effective sealing and optimizing losses in infrastructure and industrial projects.

Ongoing improvements in rubber tapes are boosting their applications for sealing, repairing and holding activities across various industries. New advanced adhesive technology allows rubber tape to adhere to different materials for a longer duration. Rubber tapes with a combination of various rubbers and polymers can adhere to high abrasion and heavy-duty loads, thereby boosting their applications across the globe.

Further, these tapes are being used in the building & construction industry as an economical, and easy-to-use solution for indoor and outdoor construction activities. The availability of low and high tacking construction tapes makes it an ideal solution for indoor activities such as renovation, window, door and furniture and decorative paintings.

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"Growing adoption of rubber insulation tapes in the electrics and electronics industry, along with increasing demand from the automotive industry will continue driving the rubber tapes market over the forecast period," says the FMI analyst.

Key Takeaways:

• Based on product type, sales in the ethylene-propylene rubber tapes segment will reach US$ 655.9 Mn in 2032.
• Total sales of rubber tapes having a thickness between 0.7mm and 0.9mm are expected grow at a 4.3% CAGR over the forecast period.
• Demand in the electrical and electronics sector will create an incremental opportunity of US$ 145.1 Mn over the forecast period.
• Applications of rubber tapes in the maintenance and repair segment will account for 39.3% of the total market share in 2022.
• Sales of rubber tapes in the U.S. are expected to offer an incremental opportunity of US$ 75.1 Mn over the forecast period.  

Rubber Tapes Market Landscape

Some of the key players dominating the global rubber tapes market are 3M Company, HellermannTyton Company, Scapa Group plc, tesa SE, Intertape Polymer Group Inc., Berry Global Inc., Nitto Denko Corporation, Atlantex Manufacturing Corp, Midsun Specialty Products, Inc., CS Hyde Company, MOCAP, LLC, Parafix Tapes & Conversions Ltd, Cole-Parmer Instrument Company, LLC, Senson Tek, ERGOM Z.A.E. Sp. z o.o, Godson Tapes Private Limited, 3A Associates Incorporated and Omega Rubber Industries.

Leading players operating in the global rubber tapes market are investing in mergers, acquisitions and collaborations to expand their global presence in the market. For instance:

• In June 2021, Intertape Polymer Group announced an agreement to acquire Nuevopak Global Limited.

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Rubber Tapes Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the rubber tapes market, analysing historical demand from 2016-2021 and forecast statistics for 2022-2032.

The study reveals growth projections on the rubber tapes market based on product type (EPR rubber tapes, PIB rubber tapes, butyl rubber tapes), application (repairing & protecting, insulation & joining, waterproofing, sealing), end-use industry (automotive, building & construction, electrical & electronics, aerospace & defence, general industries) across seven regions.

Global Rubber Tapes Market By Category

By Product Type:

• Ethylene Polypropylene Rubber (EPR) Rubber Tapes
• Polyisobutylene (PIB) Rubber Tapes
• Butyl Rubber Tapes

By Thickness:

• Up to 0.3 mm
• 0.4 mm to 0.6 mm
• 0.7 mm to 0.9 mm

By Application:

• Repairing & Protecting
• Insulation & Joining
• Waterproofing
• Sealing
• Others

By End-use Industry:

• Automotive
• Building & Construction
• Electrical & Electronics
• Aerospace & Defence
• General Industries
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa (MEA)

Discover more about report analysis with figures and data tables, along with the table of contents. Ask an Analyst- https://www.futuremarketinsights.com/ask-question/rep-gb-14313

Key Questions Answered in the Report

• What is the current size of the global rubber tapes Market?
• What is the estimated growth rate of the global rubber tapes market?
• How big is the East Asia rubber tapes market?
• Which are key countries driving the global rubber tapes market?

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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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SOURCE Future Market Insights