Press release
Emerging Trends to Drive Electrical Tapes Market Growth at 5% CAGR Through 2029
Electrical Tapes
Electrical Tapes Market Size Growth Forecast: What to Expect by 2025?
The market for electrical tapes has seen consistent expansion over recent years. The market is projected to rise from $13.65 billion in 2024 to $14.27 billion in 2025, growing at a compound annual growth rate (CAGR) of 4.6%. Factors contributing to growth during the historic period include an increased need for electrical insulation, an escalation in construction endeavours, growing investments to improve electrical infrastructures and grids, the burgeoning demand for premium insulation materials, and an increase in the manufacturing of automobiles.
How Will the Electrical Tapes Market Size Evolve and Grow by 2029?
The market size of electrical tapes is projected to witness substantial growth in the ensuing years, swelling to a staggering $17.37 billion by 2029 with a compound annual growth rate (CAGR) of 5.0%. This predicted growth during the forecast period is due to factors such as an increase in the traction of electric cars, a rise in the demand for renewable energy solutions, escalating smart home system adoption, swift urbanization and infrastructure progression, and a growing need for handheld electronic gadgets. The forecast period has on its horizon, trends like the innovation in electrical tapes that are flame-retardant and heat-resistant, ingeniously new electrical tape products, breakthroughs in material science, enhancements in electrical tape technology, and the production of more effective and long-lasting electrical tapes.
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What Drivers Are Propelling the Growth of Electrical Tapes Market Forward?
The proliferation of the automotive industry is anticipated to spur the advancement of the electrical tapes market. The automotive industry involves processes such as the design, manufacture, promotion, and dispersal of motor vehicles, including cars, trucks, motorcycles, and other vehicles. The escalation of the automotive industry is attributed to factors like increasing electric vehicle demand, technological progressions, and a growing consumer focus on mobility solutions. Moreover, encouraging government regulations and contributions toward infrastructure are quickening the industry's expansion. Electrical tapes find utility in the automotive sector for insulating, safeguarding, and bundling electrical wiring, thereby ensuring operational and secure vehicle electrical systems. A case in point, an ACEA report from May 2023 disclosed that in 2022, the worldwide production of motor vehicles went up by 5.7% from 2021, totalling 85.4 million. Accordingly, the burgeoning automotive industry is fueling the progression of the electrical tapes market.
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What Are the Key Trends Driving Electrical Tapes Market Growth?
Leading firms in the electrical tape market are concentrating on creating innovative offerings like electrical tapes that are highly resistant to abrasion. These innovations are intended to satisfy the strict requirements of contemporary automotive applications, and to increase both durability and performance. These electrical tapes are specialty insulating tapes designed to endure considerable wear and tear in tough conditions. As an illustration, Avery Dennison, a company based in the US that produces materials with a pressure-sensitive adhesive, presented the Volt Tough range of electrical insulation tapes in September 2023. It was specifically developed to improve electrical insulation in electric vehicle (EV) battery packs. The newest line includes high abrasion-resistant options, flame-retardant options suitable for UL-94, colour options for vision inspection systems, as well as other flammability standards to ensure a efficient production. This also tackles key issues involved with high-voltage systems in EVs, especially the risk of electrical arcing that can happen between battery cells and conductive parts, which can lead to short circuits or even fires. It provides tailored solutions that suit specific needs, such as different adhesive mixtures and options for single-coated foam that enhance insulation performance.
What Are the Key Segments in the Electrical Tapes Market?
The electrical tapes market covered in this report is segmented -
1) By Product: Polyester Films Tape , Polyvinyl Chloride (PVC) Electrical Tape , Cloth Electrical Tape , Rubber Tape , Polyester Film Tape , Polyamide Tape
2) By Application: Insulation, Protection, Phasing, Splicing, Cable Bundling
3) By End-User: Automotive , Aerospace , Construction , Electronic , Electrical
Subsegments:
1) By Polyester Films Tape: Adhesive Polyester Film Tape, Non-Adhesive Polyester Film Tape
2) By Polyvinyl Chloride (PVC) Electrical Tape: Standard PVC Electrical Tape, Flame-Retardant PVC Electrical Tape, Super Stretch PVC Electrical Tape
3) By Cloth Electrical Tape: Cotton Cloth Electrical Tape, Synthetic Cloth Electrical Tape
4) By Rubber Tape: Self-Fusing Rubber Tape, Adhesive Rubber Tape
5) By Polyester Film Tape: Biaxially Oriented Polyester (BOPET) Tape, Thermally Conductive Polyester Film Tape
6) By Polyamide Tape: High-Temperature Polyamide Tape, Standard Polyamide Tape
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Who Are the Key Players Shaping the Electrical Tapes Market's Competitive Landscape?
Major companies operating in the electrical tapes marker are 3M Company, Avery Dennison Corporation, Berry Global Inc., Nitto Denko Corporation, Denka Company Limited, Tesa SE, HellermannTyton, Intertape Polymer Group Inc., Scapa Group PLC, Shurtape Technologies LLC, Teraoka Seisakusho Co Ltd., Jonson Tapes, Parafix Tapes & Conversions Ltd., Advance Tapes International Ltd., Plymouth Rubber Europa S.A., Viking Industrial Products Ltd., Electro Tape Specialties Inc., Louis Tape Co. Ltd., PPI Adhesive Products Ltd., Intek Tapes Private Limited
What Geographic Markets Are Powering Growth in the Electrical Tapes Market?
Asia-Pacific was the largest region in the electrical tapes market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the electrical tapes marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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