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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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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