Press release
Waterproof Tapes Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033
Waterproof Tapes Market
The waterproof tapes market size is expected to see strong growth in the next few years. It will grow to $19.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rising urbanization, green building practices, extreme weather events, health and safety regulations, water management initiatives, environmentally friendly solutions.. Major trends in the forecast period include customized and specialized tapes, innovation in application techniques, aesthetics and design, smart building technologies, advancements in tape technology..
Market Overview -
Waterproof tape is a type of adhesive tape that is waterproof or water-resistant and can be single or double-sided. Waterproofing tapes are made using bitumen or butyl, are cold applied, and have adhesive on one side and aluminum foil or colored mineral on the other. Its protective cover is taken off, attached to the application surface, and immediately offers protection.
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Healthcare Industry Expansion Fuels Surge In Waterproof Tapes Market
The growing healthcare industry is expected to propel the growth of the waterproof tapes market going forward. The healthcare industry consists of companies that render medical services, produce medical devices or medications, offer medical insurance, or deliver healthcare to patients. In the healthcare industry, waterproof tapes are used for surgical containers, monitoring electrodes, covering wounds, securing cover shields during operations, and safeguarding abrasions, cuts, minor burns, blisters, and incisions. For instance, in January 2023, McKinsey & Company, a US-based management consulting company published an article according to which the healthcare profit pools are estimated to grow at a 4% from $654 billion in 2021 to $790 billion in 2026 and an estimated 6% growth from 2021 to 2025. Therefore, the growing healthcare industry is driving the growth of the waterproof tapes market.
Competitive Landscape -
Major companies operating in the waterproof tapes market report are Avery Dennison Corporation, ABE UK Ltd., Aggarwal Brothers Pvt. Ltd., Asian Paints Ltd., Henkel AG & Co. KGaA, Johnson & Johnson Services Inc., Minnesota Mining and Manufacturing Company, Nitto Denko Corporation, Scapa Group plc, Tesa SE, Saint-Gobain S.A., Berry Global Inc., Intertape Polymer Group Inc., Lintec Corporation, Nichiban Co. Ltd., Shanghai Yongguan Adhesive Products Corp. Ltd., Wuhan Huaxia Nanfeng Adhesive Tapes Co. Ltd., Sika AG, W. W. Grainger Inc., Bostik SA, DOW Corning Corporation, Franklin International Inc., Hexion Inc., Illinois Tool Works Inc., Mapei Corporation, Momentive Performance Materials Inc., Pidilite Industries Limited, RPM International Inc., Medline Industries Lp, Shurtape Technologies LLC, The Gorilla Glue Company .
Innovative Product Developments Drive Dominance In The Waterproof Tapes Market
Product innovations are the key trend gaining popularity in the waterproof tapes market. Major companies operating in the waterproof tapes market are developing innovative waterproof tapes to sustain their position in the market. For instance, in March 2021, Flex Seal Products, a US-based manufacturer of adhesive bonding products launched Flex Tape, an incredibly durable waterproof tape that can quickly repair, bond, and seal just about anything. It works in the water and on surfaces that are dry or wet. The strong adhesive of Flex Tape attaches to nearly any surface quickly and gets stronger with use and stress.
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Key Segments -
The waterproof tapes market covered in this report is segmented -
1) By Resin Types: Acrylic, Butyl, Silicone, Other Resin Types
2) By Substrate Types: Plastic, Metal, Rubber, Other Substrate Types
3) By End-Use Industry: Electrical and Electronics, Automotive, Building and Construction, Healthcare, Packaging, Other End User Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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