The global rubber tapes are anticipated to grow at a significant CAGR during the forecast period (2022-2028). Rubber tapes are those which are manufactured with highly durable material with high strength and waterproofing abilities. The rise in the expansion of building and construction activities is anticipated to drive the growth of the global rubber tapes market. For instance, according to the data published by the Global Alliance for Building and Construction report in 2020, buildings play a significant role in framing and shaping livelihoods and the environment that we work and intercat within. Thus, new buildings are an important source for future emissions in rapidly developing emerging countries with growing populations.
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Moreover, according to the data published by International Finance Corporation in 2020, the green buildings represent significant global investment opportunities and are anticipated to surge to $24.7 trillion by 2030. Further according to World Resources Institute, the number of homes is anticipated to rise to 440 million by 2025. Thus, the expansion of building and construction activities is anticipated to drive the demand for the global rubber tubes market.
According to the data published by India Brand Equity Foundation (IBEF) in 2021, the total production of passenger vehicles (three-wheelers, two-wheelers, and quadricycles) has reached 2214745 units in October 2021. Moreover , in 2020 India was the fifth largest auto market, with $349 million units sold in the passenger and commercial vehicles categories. Further, the automobile sector received a cumulative FDI inflow of about $30.5 billion between April 2000 and June 2021. Also, the Government of India anticipates the automobile sector to attract $8-10 billion in local and foreign investments by 2023. Thus , the growing demand and rising investment opportunities in the automobile sector are anticipated to increase the production of vehicles which in turn will further drive the growth of the global rubber tapes market during the forecast period.
Looking towards the demand for rubber tapes, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in May 2020, Tesa SE has announced that the company will be producing adhesive tapes for the Asian market from 2023. The company anticipates increasing its production capacities to shorten the way to customers and suppliers. The strategy” in the region, for the region” aimed to achieve a harmonized balance between the regions of Europe, North America, and Asia.
In September 2019, 3M Co. announced the availability of Scotch High Tack Box Sealing Tape 375+. This rubber tape is used for box sealing, splicing, recouperage, and other packaging solutions. Thus, such product launches are distribution strategies are anticipated to drive the growth of the global rubber tapes market.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product
- By Application
- Thickness
- End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- 3M Co, Intertape Polymer Group Inc., Mocap LLC and Godson Tapes Pvt Ltd among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Rubber Tapes Market Report by Segment
By Product
- Ethylene Polypropylene Rubber(EPR)
- Polyisobutylene (PIB)
- Butyl
By Application
- Repairing & Protecting
- Insulation & Joining
- Waterproofing
By Thickness
- up to 0.3mm
- 4mm to0.6mm
- 7mm to 0.9mm
By End-User
- Automotive Industry
- Building and Construction
- Aerospace and defence
- Others
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