PUBLISHER: The Business Research Company | PRODUCT CODE: 1615051
PUBLISHER: The Business Research Company | PRODUCT CODE: 1615051
Specialty tapes are adhesive tapes specifically designed for targeted applications, featuring unique properties tailored to meet particular needs. These tapes are often engineered to perform effectively under challenging conditions, such as extreme temperatures, UV exposure, moisture, abrasion, or chemical exposure. Specialty tapes find applications across a variety of industries for purposes such as sealing, bonding, insulation, masking, and protection.
The primary types of specialty tape resins include acrylic, rubber, silicone, and others. Acrylic is a versatile polymer recognized for its clarity, durability, and weather resistance. It utilizes a range of backing materials, including polyvinyl chloride (PVC), paper, woven or non-woven fabrics, PET, foam, polypropylene (PP), and more. These tapes are employed by several end-user industries, such as electrical and electronics, healthcare and hygiene, automotive, white goods, paper and printing, building and construction, retail and graphics, among others.
The specialty tapes market research report is one of a series of new reports from The Business Research Company that provides specialty tapes market statistics, including specialty tapes industry global market size, regional shares, competitors with a specialty tapes market share, detailed specialty tapes market segments, market trends and opportunities, and any further data you may need to thrive in the specialty tapes industry. This specialty tapes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The specialty tapes market size has grown strongly in recent years. It will grow from $55.00 billion in 2023 to $59.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth during the historical period can be attributed to the expansion of consumer electronics, a growing aging population, increasing urbanization, rising disposable incomes, and heightened awareness of environmental sustainability.
The specialty tapes market size is expected to see strong growth in the next few years. It will grow to $82.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The anticipated growth during the forecast period can be attributed to the expansion of e-commerce, growth in the aerospace and defense sectors, increasing demand within the healthcare industry, a rising use in the automotive sector, and ongoing industrial expansion. Key trends expected during this period include the development of innovative smart tapes, the introduction of multi-functionality features, optimization of supply chains, advancements in tape manufacturing, and progress in adhesive technology.
The growing popularity of e-commerce is projected to drive the expansion of the specialty tapes market in the coming years. E-commerce involves the buying and selling of goods and services over the internet, covering a range of online business activities such as retail, wholesale, and various types of financial transactions conducted electronically. This surge in e-commerce popularity is attributed to several factors, including advancements in technology, integration with social media, and competitive pricing. Specialty tapes are increasingly utilized in the e-commerce sector for diverse applications due to their unique characteristics. Online businesses often employ printed tapes to showcase logos, messages, or branding on packages, enhancing the customer unboxing experience while promoting brand identity. For instance, in August 2024, the Census Bureau, a US government agency, reported that retail e-commerce sales for the second quarter of 2024, adjusted for seasonal variation but not for price changes, reached $291.6 billion, reflecting a 1.3% (+-0.7) increase from the first quarter of 2024. Furthermore, the second quarter 2024 e-commerce estimate saw a 6.6% (+-1.2) rise compared to the second quarter of 2023. Thus, the increasing popularity of e-commerce is driving growth in the specialty tapes market.
Leading companies in the specialty tapes market are concentrating on creating innovative products, such as adhesive bond industrial tapes, which offer superior adhesion to a variety of surfaces. Adhesive bond industrial tapes are high-performance tapes specifically engineered to establish strong, durable bonds between materials in industrial settings. These tapes often feature specialized adhesives designed to withstand environmental factors such as temperature, moisture, and chemicals. For example, in September 2024, Mactac, a US manufacturer of pressure-sensitive adhesive materials, introduced the Macbond 481 and Macbond LS55 industrial tapes. The Macbond 481 Series Tapes are characterized by their high-performance, high-strength, UL-recognized acrylic adhesive, delivering excellent shear and ultimate bonding to medium or high surface energy materials, along with remarkable high-temperature performance and lay flat release liners for ease of conversion. These tapes are available in transfer or double-sided formats with a 1-mil, 3-mil, or 5-mil PET carrier. In contrast, the Macbond LS55 Series Tapes feature a high-tack acrylic adhesive known for its exceptional temperature resistance and come as 2-mil or 4-mil transfer adhesives with a 60# PCK release liner, making them especially effective on low surface energy materials and other challenging substrates, such as foam.
In December 2022, Shurtape Technologies LLC, a US-based adhesive tape manufacturing company, acquired Pro Tapes & Specialties Inc. for an undisclosed amount. This acquisition aims to enhance Shurtape's product offerings and expand its market presence while leveraging synergies in production and distribution. Ultimately, this integration will improve operational efficiency and customer reach by incorporating Pro Tapes & Specialties' specialized products and expertise. Pro Tapes & Specialties Inc. is also a US-based manufacturer of adhesive tape.
Major companies operating in the specialty tapes market are Dow Inc., 3M Company, Henkel AG & Co. KGaA, Berry Global Inc., Avery Dennison Corporation, Lintec Corporation, Tesa SE, Essentra PLC, Scapa Group PLC, Shurtape Technologies LLC, Duraco Specialty Tapes LLC, Worthen Industries Inc., Insul-Fab Inc., CCT Tapes Inc., Advance Tapes International Ltd., Tom Brown Inc., Adchem Corporation, Presto Tape Inc., Cheever Specialty Paper & Film Inc., Penguin Tapes Inc., Saint-Gobain Performance Plastics Corporation, Vasavitapes Inc.
North America was the largest region in the specialty tapes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty tapes marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the specialty tapes marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The specialty tapes market consists of sales of masking tape, double-sided tape, duct tape, foam tape and high-temperature tape. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Specialty Tapes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on specialty tapes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for specialty tapes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The specialty tapes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.