The electrical tapes global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electrical Tapes Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
The electrical tapes market size has grown strongly in recent years. It will
grow from $12.96 billion in 2023 to $13.65 billion in 2024 at a compound annual
growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed
to increasing demand for electrical insulation, the rise of construction
activities, rising investments in upgrading electrical grids and
infrastructure, the rising need for high-quality insulation materials, and
growth in automotive production.
The electrical tapes market size is expected to see strong growth in the next
few years. It will grow to $16.85 billion in 2028 at a compound annual growth
rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to the
increasing shift toward electric vehicles, demand for renewable energy systems,
growing adoption of smart home systems, rapid urbanization and infrastructure
development, and rising demand for portable electronic devices. Major trends in
the forecast period include innovations in flame-retardant and heat-resistant
electric tapes, innovations in electrical tape products, innovations in
material science, advancements in electrical tape technology, and the
development of more efficient and durable electrical tapes.
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Scope Of Electrical Tapes Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Electrical Tapes Market Overview
Market Drivers -
The expanding automotive industry is expected to propel the growth of the
electrical tapes market going forward. The automotive industry refers to the
industry that is involved in the development, production, marketing, and sale
of motor vehicles, such as automobiles, trucks, motorcycles, and other
vehicles. The automotive industry is rising due to growing demand for electric
vehicles, technological advancements, and increasing consumer interest in
mobility solutions. Additionally, supportive government policies and
investments in infrastructure are accelerating industry growth. Electrical
tapes are used in the automotive industry to insulate, protect, and bundle
electrical wiring, ensuring safe and efficient vehicle electrical systems. For
instance, in May 2023, according to a report published by the European
Automobile Manufacturers' Association (ACEA), in 2022, 85.4 million motor
vehicles were produced worldwide, a 5.7% increase over 2021. Therefore, the
expanding automotive industry is driving the growth of the electrical tapes
market.
Market Trends -
Major companies operating in the electrical tapes market are focused on
developing innovative products such as high abrasion-resistant electrical tapes
to meet the demanding requirements of modern automotive applications and
enhance durability and performance. High abrasion-resistant electrical tapes
are specialized insulating tapes designed to withstand significant wear and
tear in harsh environments. For instance, in September 2023, Avery Dennison, a
US-based company that manufactures pressure-sensitive adhesive materials,
launched the Volt Tough portfolio of electrical insulation tapes, specifically
designed to enhance electrical insulation in electric vehicle (EV) battery
packs. This new line features high abrasion-resistant options, flame-retardant
options for UL-94, color options for vision inspection systems, and other
flammability standards to enable efficient production. This also addresses
critical challenges associated with high-voltage systems within EVs,
particularly the risk of electrical arcing that can occur between battery cells
and conductive components, potentially leading to short circuits or fires. It
offers customized solutions tailored to specific needs, including different
adhesive formulations and single-coated foam options to enhance insulation
performance.
The electrical tapes market covered in this report is segmented –
1) By Product: Polyester Films Tape , Polyvinyl Chloride (PVC) Electrical Tape
, Cloth Electrical Tape , Rubber Tape , Polyester Film Tape , Polyamide Tape
2) By Application: Insulation, Protection, Phasing, Splicing, Cable Bundling
3) By End-User: Automotive , Aerospace , Construction , Electronic , Electrical
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Report @
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Regional Insights -
Asia-Pacific was the largest region in the electrical tapes market in 2023.
North America is expected to be the fastest-growing region in the forecast
period. The regions covered in the electrical tapes marker report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Key Companies -
Major companies operating in the electrical tapes marker are 3M Company, Avery
Dennison Corporation, Berry Global Inc., Nitto Denko Corporation, Denka Company
Limited, Tesa SE, HellermannTyton, Intertape Polymer Group Inc., Scapa Group
PLC, Shurtape Technologies LLC, Teraoka Seisakusho Co Ltd., Jonson Tapes,
Parafix Tapes & Conversions Ltd., Advance Tapes International Ltd.,
Plymouth Rubber Europa S.A., Viking Industrial Products Ltd., Electro Tape
Specialties Inc., Louis Tape Co. Ltd., PPI Adhesive Products Ltd., Intek Tapes
Private Limited
Table of Contents
1. Executive Summary
2. Electrical Tapes Market Report Structure
3. Electrical Tapes Market Trends And Strategies
4. Electrical Tapes Market – Macro Economic Scenario
5. Electrical Tapes Market Size And Growth
…..
27. Electrical Tapes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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