The Waterproof Tapes by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Waterproof Tapes, The waterproof tapes market size has grown strongly in recent years. It will grow from $14.03 billion in 2023 to $15 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to construction industry growth, repair and maintenance activities, consumer awareness, weather-related concerns, manufacturing industry needs, marine and boating sector
The waterproof tapes market size is expected to see strong growth in the next few years. It will grow to $19.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rising urbanization, green building practices, extreme weather events, health and safety regulations, water management initiatives, environmentally friendly solutions.. Major trends in the forecast period include customized and specialized tapes, innovation in application techniques, aesthetics and design, smart building technologies, advancements in tape technology.
The growing healthcare industry is expected to propel the growth of the waterproof tapes market going forward. The healthcare industry consists of companies that render medical services, produce medical devices or medications, offer medical insurance, or deliver healthcare to patients. In the healthcare industry, waterproof tapes are used for surgical containers, monitoring electrodes, covering wounds, securing cover shields during operations, and safeguarding abrasions, cuts, minor burns, blisters, and incisions. For instance, in January 2023, McKinsey & Company, a US-based management consulting company published an article according to which the healthcare profit pools are estimated to grow at a 4% from $654 billion in 2021 to $790 billion in 2026 and an estimated 6% growth from 2021 to 2025. Therefore, the growing healthcare industry is driving the growth of the waterproof tapes market.
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The waterproof tapes market covered in this report is segmented –
1) By Resin Types: Acrylic, Butyl, Silicone, Other Resin Types
2) By Substrate Types: Plastic, Metal, Rubber, Other Substrate Types
3) By End-Use Industry: Electrical and Electronics, Automotive, Building and Construction, Healthcare, Packaging, Other End User Industries
Product innovations are the key trend gaining popularity in the waterproof tapes market. Major companies operating in the waterproof tapes market are developing innovative waterproof tapes to sustain their position in the market. For instance, in March 2021, Flex Seal Products, a US-based manufacturer of adhesive bonding products launched Flex Tape, an incredibly durable waterproof tape that can quickly repair, bond, and seal just about anything. It works in the water and on surfaces that are dry or wet. The strong adhesive of Flex Tape attaches to nearly any surface quickly and gets stronger with use and stress.
The waterproof tapes market report table of contents includes:
1. Executive Summary
2. Waterproof Tapes Market Characteristics
3. Waterproof Tapes Market Trends And Strategies
4. Waterproof Tapes Market – Macro Economic Scenario
5. Global Waterproof Tapes Market Size and Growth
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26. South America Waterproof Tapes Market
27. Brazil Waterproof Tapes Market
28. Middle East Waterproof Tapes Market
29. Africa Waterproof Tapes Market
30. Waterproof Tapes Market Competitive Landscape And Company Profiles
Top Major Players:
- Avery Dennison Corporation
- ABE UK Ltd
- Aggarwal Brothers Pvt. Ltd
- Asian Paints Ltd
- Henkel AG & Co. KGaA
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