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Duct Tapes Market is estimated to expand at a CAGR of 5.3% during 2017–2027

02-01-2019 04:12 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Duct Tapes Market is estimated to expand at a CAGR of 5.3% during

Future Market Insights (FMI) delivers key insights on the global duct tapes market in its published report titled “Duct Tapes Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017–2027).” In terms of revenue, the global duct tapes market is estimated to expand at a CAGR of 5.3% over the forecast period, attributed to numerous factors, about which FMI offers thorough insights and forecasts in this report. A key trend defining the market of duct tapes is the increase in usage of duct tapes in the automotive industry due to their high tack adhesion quality. In addition, applications in DIY activities is also supporting the growth of the global duct tapes market.

Market Forecast by Backing Material Type

On the basis of backing material type, the global duct tapes market is segmented into plastic (polyethylene, polyvinyl chloride, and polyester), foil and cloth backed duct tapes. Cloth backed duct tapes are expected to grow rapidly at a CAGR of 5.2% over the forecast period attributed to an extensive use in industrial applications.

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Market Forecast by Product Type

Based on product type, the market has been segmented into removable duct tapes, professional grade duct tapes, utility duct tapes and specialised high strength duct tapes. The professional grade duct tapes segment is estimated to account for over 40% value share of the global duct tapes market during the forecast period.

Market Forecast by Adhesive Type

Based on the adhesives used, the global duct tapes market can be classified as natural rubber based adhesive and synthetic rubber based adhesives. Use of natural rubber based adhesives is commonly preferred by duct tapes manufacturers due to their low cost. The natural rubber based adhesives segment is expected to gain 190 BPS over the forecast period.

Market Forecast by Application Type

Based on application, the duct tapes market can be classified as sealing, repairing, holding, waterproofing, color-coding, strapping, splicing and others. Duct tapes are largely used for sealing applications and this segment is anticipated to account for over 30% value share of the global duct tapes market during the forecast period.

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Market Forecast by End Use Industry

Based on end use industries, the duct tapes market can be classified as HVAC industry, building & construction, shipping & logistics, automotive, electrical & electronic industry and DIY activities. Building and construction and HVAC industries are major users of duct tapes. The HVAC industry segment is expected to dominate the global duct tapes market, estimated to hold a value share of about 36% during the forecast period.

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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