Applications in the health sector complement the Waterproof Tapes Market
Posted by rohan on October 30th, 2019
The Waterproof Tapes Market was worth US$ 10.6 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% over the forecast period to become US$ 14 billion by 2023. Strips are small pieces of plastic coated with an adhesive used to repair a break or close a gap temporarily. They can be of many different types, such as insulators, medical, fixed or reflective, depending on the intended application.
Market Drivers and Restraints:
With the growing economy, the number of paying customers is increasing, so the net economy is expected to increase. The increasing population of emerging economies with their rising net disposable income drives the consumer goods market like waterproof films. The rapidly growing markets for pharmaceuticals, manufacturing and packaging contribute to the growth of the market. Medical tape with non-allergic skin adhesives is commonly used in the health sector to heal wounds, with the growing population in Asia-Pacific and with the arrival of refugees in Europe, the health sector is expected to grow.
Insulating tape is widely used in the electrical and electronic industries, while the reflective tape is commonly used in the automotive industry. Almost all vehicles will, at some point, have a timer with reflective tape. Government regulations on the production and use of plastics slow down the market. Increasing labor and transport costs only increases the problems of this market significance.
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Report segmented as
By End-Use Industry:
The Waterproof Tapes Market is evaluated for Latin America, North America, Asia Pacific, Europe, and Middle East and Africa. It's being seen that North America was deemed to have the largest share in the global market. The Asia Pacific region is estimated to witness quick-paced growth during the forecast period. The adoption of the latest technology and increasing awareness among individuals are expected to be the factors catapulting market growth.
Important Market Players:
Some of the chiefcompanies in the waterproof tape market are Henkel (Germany), Tesa (Germany), Scapa Group (UK), 3M Company (US), Avery Dennison (US), Johnson & Johnson Inc., (US), Medline Industries (US), Shurtape Technologies LLC. (US), The Gorilla Glue Company (US) and Nitto Denko (Japan) among others.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the Authorrohan
Joined: September 20th, 2017
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