Surface Protection Tapes Market worth $18.0 billion by 2024 | Key players DowDuPont, 3M, Toray Industries, Berry Global, Avery Dennison

According to recent market research "Surface Protection Tapes Market by Type (Polyethylene, Polypropylene, Polyvinyl chloride), Surface Material (Polished metals, Glass, Plastic) End-use (Electronics & appliances, Building & construction, Automotive), and Region - Global Forecast to 2024", The surface protection tapes market is estimated at USD 12.3 billion in 2019 and is projected to reach USD 18.0 billion by 2024, recording a CAGR of 8.0%. Increasing acceptance of surface protection tapes due to their reduced weight, ease applicability, durability, customization, and smooth removal from the surface of the substrates also contribute to the increasing demand for surface protection tapes.

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The polypropylene segment is projected to grow at the highest CAGR from 2019 to 2024. Polypropylene surface protection tapes are more expensive than the polyethylene surface protection tapes due to their inbuilt elasticity. Polypropylene surface protection tapes are used for temporary protection purposes and offer a clean and smooth adhesive-free removal. The growth of this segment is attributed to enhanced clarity, higher impact strength, and improved barrier properties of polypropylene tapes.

The polished metals segment is projected to dominate the surface protection tapes market, recording the highest CAGR from 2019 to 2024. The surface of these polished metals are gently sheen or have a soft glow texture. Metals are offered in different forms such as painted, unpainted, powdered, bright, glossy, or matte. The uncoated metal surfaces or pre-coated varnished surfaces are laminated with surface protection tapes. The polished metal surfaces need to be safeguarded using a surface protection tape during the process of manufacturing, assembling, transportation, and storage. The growth of this segment is attributed to the demand for these tapes in various end-user industries such as building & construction (for curtain walls, building panels, and coil coatings), and automotive (for the vehicle parts).

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The surface protection tapes market is estimated at USD 12.3 billion in 2019 and is projected to reach USD 18.0 billion by 2024, recording a CAGR of 8%. The demand for surface protection tapes is driven by the growing use of these tapes due to their durability, ease of application, and ease of removal properties.

The surface protection tapes market is led by major players such as DowDuPont (US), Compagnie de Saint-Gobain S.A. (France), 3M (US), Toray Industries, Inc. (Japan), and Chevron Phillips Chemical Company (US). These players have adopted various growth strategies to increase their market share, enhance their product portfolio, and expand their market share. Expansions, investments, mergers, acquisitions, new product launches, and partnerships are some of the major strategies adopted by leading players operating in the surface protection tapes market. The years 2017 and 2018 witnessed a large number of mergers and acquisitions by the players in the market.

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DowDuPont (US) is an active player in offering protection films to various end-use industries. For instance, it provides polyvinyl fluoride (PVF) films for industrial applications. In addition, the company owns a number of patents in the US as well as other countries across regions. It has a strong foothold across the globe with a presence across Africa, the Asia Pacific, Europe, the Middle East, South America, and North America. Diverse product portfolio and its global reach help the company to have a balanced as well as diversified risk profile. In September 2017, DuPont (US) and Dow Chemicals (US) agreed to merge, to form DowDuPont, with a motive to improve their market growth. DowDuPont would perform as a holding company after this merger. Through this merger, the company aims to attain sustainable growth through the expansion of its product portfolio and strengthen its R&D capabilities.

Compagnie de Saint-Gobain S.A. (France) is one of the key industrial groups at a global level. It designs, manufactures, and supplies materials as well as solutions for transportation, building, infrastructure, and industrial applications. The company operates through its four business segments, namely, building distribution, construction products, innovative materials, and others. Saint-Gobain’s tape solutions provide a range of solutions for the bonding, protection, as well as insulation applications to different sectors. In July 2017, Saint-Gobain signed a purchase agreement to acquire 100% equity capital of TekBond (Brazil). TekBond supplies a broad range of adhesives, sealants, sprays, and masking tapes and is the second-largest adhesive manufacturer in Brazil that operates in the construction and automotive markets. This acquisition was made by Saint-Gobain to expand its surface protection tapes business in Brazil.

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