Specialty Tapes Market | Size, Share, Competitive Trends, Outlook and ForecastsPosted by Market Research Future on March 25th, 2020 Market Synopsis The global specialty tapes market is expected to grow at 6% CAGR to reach USD 62 billion by 2025. Specialty tapes are used in a wide array of applications such as electronic appliances, white goods, automobiles, aircraft, marine, paper, packaging, retail, and consumer goods among others. Electrical & electronics segment generated major revenue for the specialty tapes market. Expanding healthcare industry in the developing markets with increased spending on healthcare is expected to create lucrative opportunities for the players operating in the global market. Regulatory Analysis Prevalence of stringent regulation to reduce VOC emissions affecting the surrounding environment and human health is affecting the market growth. Some of the regulatory authorities regulating the VOC emissions include-
Market Segmentation: By Resin Type
By Backing Material
By Application
By Region
Regional Analysis North America: The North American specialty tapes market accounted for 23% share in 2018. North America has established automotive, healthcare, electric and electronics industry which have a huge demand for specialty tapes.
Europe: The European Specialty Tapes Market comprises around 20% of the global specialty tapes market. The market growth can be attributed to factors such as reviving automotive industry with increasing production of electric, hydrogen cell fuel, and lightweight vehicles; increased spending on R&D activities to bring technological advancements in healthcare industry and expanding consumption of portable technologically advanced consumer electronics. Growing building & construction industry with increased spending on residential construction particularly in eastern European countries is projected to propel the market growth.
Asia-Pacific: Asia-Pacific was the largest and fastest-growing market for specialty tapes accounting for 48% market share. Expanding automotive and electrical & electronics industries are the major revenue-generating segments in Asia-Pacific.
Latin America: The market in Latin America is expected to grow at a healthy CAGR during the review period on account of growing major end-use industries particularly, the automotive industry.
Middle East & Africa: Growing industrialization in the Middle East and African countries is expected to drive the growth of the specialty tapes market in the region. Get Complete Research Report on “Specialty Tapes Market Research Report - Global Forecast till 2025” at: https://www.marketresearchfuture.com/reports/specialty-tapes-market-8284 Like it? Share it!More by this author |