Press release
Growth of Wire Harness Tape Market Projected to Amplify During 2030
Wire harness is assembling of wires in a bundle, which are used for transmitting signals and electric power. The safety of wire harness plays an important role in electrical and electronic industries. Tapes are the easy to use and affordable packaging solution used for bundling and protecting wire harnesses. According to the end use requirement the materials and product type and packaging requirement also varies. Choosing the right adhesive type for wire harness tapes is a critical job, as some adhesives may damage the wires and the wire insulation.Wire harness tapes also have many applications from automotive industry and those includes attachment part mounting, hole covering, interior mounting, cable mounting, security labelling etc. The wire harness tapes are also used while painting the vehicle which helps and provide good surface finish and protection need. Fast growth in demand for electric vehicles contributed remarkably to the growth of wire harness tape market. Overall, the global viewpoint for wire harness tape market is projected to remain progressive during the forecast period.
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Wire Harness Tape Market: Market Dynamics
Rising trend of installation of integrated advanced features in the vehicles and increased production have raise the demand for wire harness tape in the market. The factors such as growing consumer's demand of vehicle electrification and importance of safety of vehicles fuelled up the demand of wire harness tape on a great extent. Due to the consumer's inclination towards reducing environmental pollution, consumer's interest in electric vehicles has increased in last recent years, which will further show positive impact on the growth of the wire harness tape market. In the forecasted period this will be a major driving factor for the wire harness tape market. Some important features of wire harness tapes such as cost effectiveness, lightweight and others are contributing to fuel the market demand for wire harness tape.
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Strict government regulations on the use of plastic or non-recyclable plastic may slow down the growth of the wire harness tape market. Durability problems with some materials may limit the growth of the wire harness tape market up to certain extent. The availability of alternative solutions for wire harness tape such as advanced technology equipment may become another reason for restraining the growth of the wire harness tape market. The COVID-19 outbreak in December 2019 has created the unfavourable conditions in the market. This pandemic has started to show impacts on wire harness tape market on large extent. COVID-19 pandemic impacted adversely on the automotive industry, which will further induce the impact on the growth of wire harness tape market across the world.
Wire Harness Tape Market: Segmentation
On the basis of material type, global wire harness tape market can be segmented as:
Plastic
Rubber
Foam
Metal Foils
Others
On the basis of adhesive type, global wire harness tape market can be segmented as:
Acrylic-based
Rubber-based
Silicone-based
On the basis of product type, global wire harness tape market can be segmented as:
Water soluble
Fire resistant
Semi-conductive
On the basis of thickness, global wire harness tape market can be segmented as:
0.1mm - 0.15 mm
0.15 mm - 0.2 mm
0.2 mm - 0.25 mm
0.25 mm - 0.3 mm
Above 0.3 mm
On the basis of applications, global wire harness tape market can be segmented as:
Power cable/wire
Communications cable/wire
Industrial cable/wire
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Wire Harness Tape Market: Regional Outlook
East and South Asian countries such as China and India are dominating the wire harness tape market due to the rapid and extensive penetration of electronics, automotive, construction and healthcare sectors coupled with increasing disposable income in these countries. North and Latin America regions hold the next large market share of the wire harness tape market. Rising awareness towards the usage of environment-friendly tapes fuelled the demand for wire harness tape in the market in these regions. On the back of significant presence of leading adhesive tapes manufacturers in European countries, the region will contribute significantly to the growth of the wire harness tape market during the forecast period. The Middle East and African countries will continue to witness substantial growth of the wire harness market in forecasted period, due to the growing infrastructure and commercial activities in the region.
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Wire Harness Tape Market: Key Players
Some prominent players in the global wire harness tape Market:
3M
Yongle (Avery Dennison)
Achem (YC Group)
Tesa (Beiersdorf AG)
Nitto
IPG
Scapa
Saint Gobin (CHR)
Four Pillars
H-Old
Plymouth
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