Chicago, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Waterproof Tapes Market is projected to grow from USD 15.5 billion in 2022 to USD 21.3 billion by 2027, at a CAGR of 6.6% between 2022 and 2027, according to a new report by MarketsandMarkets™. Growing demand from electrical & electronic and building & construction industries to increase the market of waterproof tapes.
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Browse in-depth TOC on “Waterproof Tapes Market”
208 – Tables
52 – Figures
270 – Pages
List of Key Players in Waterproof Tapes Market:
- 3M (US),
- Nitto Denko Corporation (Japan),
- tesa SE (Germany),
- Johnson & Johnson (US), and
- Henkel AG & CO. KGAA (Germany)
Waterproof Tapes Market Dynamics:
- Drivers: Capacity expansion for increasing demand
- Restraints: Impact of COVID and Russia-Ukraine war
- Opportunities: Establishing authenticity through various certification
- Challenges: Low product differentiation
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Key Findings of the Study:
- Electrical & Electronics application accounted for the largest segment of the waterproof tapes market.
- Silicone is the fastest resin type segment of the waterproof tapes market.
- Plastic accounted for the largest substrate type segment of the waterproof tapes market.
- Asia Pacific is the fastest-growing waterproof tapes market.
Healthcare is the fastest-growing segment of the overall waterproof tapes market.
The major applications of waterproof tapes in the healthcare industry are surgical containers, monitoring electrodes, cover wounds, fix cover shields during surgeries, protecting abrasions, cuts, minor burns, blisters, and incisions. They are also used as initial bandage cover, general taping needs, and out-patient use. The tapes are also ideal for swimmers, patch tests, carriers for cutaneous transfer drugs, fixing ostomy bags, and transdermal systems.
China is the largest waterproof tapes market in Asia Pacific during the forecast period.
The building and construction industry in China is expected to grow due to the implementation of new industry norms and promotional activities. Rising demand from new construction and renovation activities, government and private investment in residential and commercial projects, and rising consumer spending power are the prominent driving factors for the growth of the waterproof tapes market in China. Increased population, improved lifestyle, low labor costs, and restructured environmental regulat
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