Specialty Tapes Market: Current Analysis and Forecast (2021-2027)

Report Description

The global specialty tapes market is likely to showcase a growth of around 6% during the forecast period. The performance of the global specialty tapes market depends on the performance of several industries such as chemicals, packaging, healthcare, electronics, and construction. Specialty tapes are utilized in construction and industrial applications owing to their high-tensile strength. These tapes are also used in the automotive and healthcare industries owing to their bonding and fastening properties. Further, these tapes are resistant to various factors such as water, fire, and dust, among others, and are much stronger to hold heavy-weight objects and protect them from any type of damage. Various types of adhesives are used in the manufacturing of specialty tapes to offer additional characteristics. For instance, acrylic and rubber-based adhesives are utilized to produce the soundproof tape. Moreover, the growing healthcare industry coupled with the increasing use of specialty tapes due to its wide utilization in surgical containers, monitoring electrodes and other medical devices, covering wounds, fixing cover shields while surgeries are performed, cleaning in antiseptic rooms as well as for manufacturing of disposable infant and adult diapers is maintaining its strong demand. Additionally, the robust growth of the food & beverages sector due to fast urbanization, adoption of modern lifestyles, and growing need for hygienic & packed food would drive the specialty tapes market.

Insights Presented in the Report

“Amongst resin types, acrylic has a considerable share in the specialty tapes market”

Based on resin type, the market is categorized as acrylic, rubber, silicone, and others. Among these, acrylic held a considerable share in the specialty tapes market due to its favorable physical and chemical qualities, low cost, and applicability in a variety of end-use industries such as packaging, transportation, and healthcare. Further, they are more resistant to other solvents, chemicals, and water. Acrylic-based adhesive tapes are appropriate for both solvent and water-based technologies. Among all the resins used in the adhesive tapes sector, water-based acrylic adhesives are the least expensive.

“Amongst backing material, the paper held a significant position in the specialty tapes market”

Based on backing material, the market is categorized into polyvinyl chloride, woven/non-woven, paper, foam, polypropylene, and others. Among these, the paper held a prominent share in the global specialty tapes market. Paper tapes have excellent adhesion, heat insulation, temperature tolerance, and are environmentally safe, and come in various colors. Further, when compared to other adhesive tapes, these tapes offer more comfort. Moreover, they are thin, flexible, and smooth, making them ideal for vehicle and aviation manufacture, as well as appliance manufacturing, HVAC, and paper and printing applications.

“Amongst end-user, healthcare has a prominent share in the specialty tapes market”

Based on end-user, the market is categorized into electrical & electronics, healthcare, automotive, paper & printing, building & construction, and others. Among these, healthcare held a prominent share in the global specialty tapes market. The specialty tapes market is rising in healthcare due to the aging population, increased chronic illness incidence, and the high demand for in vitro diagnostics, hydrophilic films, transdermal patches, and oral dissolvable films. Also, the development of products such as disposable infant diapers, feminine hygiene products, and adult incontinence products all use specialty tapes.

“Asia-Pacific accounted for a prominent share in the global specialty tapes market”

For a better understanding of the market adoption of specialty tapes, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of the World. Asia-Pacific held a prominent share in the specialty tapes market owing to a rising base of various industries such as electric & electronics, healthcare, packaging, building and construction, and others.  Also, the market growth can be attributed to the expanding automotive industry, in electric vehicles (Evs), specialty tapes are used for covering the gaps and for bonding purposes in the battery. Other prominent applications of such tapes in Evs are motor assembly, insulation, and wire harnessing. Moreover, increasing disposable income and rapid economic growth in the region are increasing the demand for better-quality products, and improving lifestyle is also fueling the market for specialty tapes.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country-level analysis of the industry

Customization Options:

The global specialty tapes market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for Specialty Tapes Market Analysis (2019-2027)

Analyzing the historical market, estimating the current market, and forecasting the future market of specialty tapes, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the specialty tapes industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of specialty tapes through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the specialty tapes market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by resin type, backing material, and end-user. Further regional and country-level analyses were conducted to evaluate the overall adoption of specialty tapes globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of specialty tapes. Further, we conducted factor analysis using dependent and independent variables such as increasing demand for electric vehicles, healthcare, electronic devices, and better-quality products for insulation. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the specialty tapes industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global specialty tapes market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of specialty tapes across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the specialty tapes market. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants by Stakeholders and Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global specialty tapes market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of resin type, backing material, and end-user.

The main objective of the specialty tapes market study

The current & future market trends of global specialty tapes were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of specialty tapes in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include the area of resin type, backing material, and end-user
• Defined analysis of the regulatory framework for the specialty tapes industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of specialty tapes for the major countries
• Major regions/countries analyzed in the report include North America (United States, Canada, and the Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of the World
• Company profiles of the specialty tapes market players and the growth strategies adopted by them to sustain the growing market
• Deep dive country-level analysis of the industry

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