New York, NY:, Nov. 02, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Waterproof Tapes Market by Adhesive (Silicone, Acrylic, Butyl, and Others), By Substrate (Plastics, Metals, Rubber, and Others), and By End-User (Automotive, Building & Construction, Healthcare, Electrical & Electronics, Packaging, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global waterproof tapes market was valued at around USD 8,850.00 million in 2017 and is expected to reach approximately USD 14,235 million by 2024, growing at a CAGR of around 7.07% between 2018 and 2024.
Waterproof tapes are the finest high-quality tapes which have strength and durability factor. It has many uses which include screen repair, window taping, PVC pipe taping, etc. The rise in the construction sector in developed countries is the most crucial factor which drives the waterproof tapes market growth. Waterproof tapes have application in various departments; it is most widely seen in household uses.
The waterproof tapes market is anticipated to witness a significant growth within the forecast period. The market is mainly driven by the growing demand for waterproof tapes in the construction industry. Waterproof tapes benefits include elasticity, abrasion resistance, and better adhesion. It provides versatility and high performances which is the most dominant key factor that helps in propelling the waterproof tapes market across the globe. Advancement in the field of construction and infrastructural activities is likely to increase the use of waterproof tapes in commercial as well as residential industry. However, steady growth in end-user industry and government legislation pertaining to the high cost of the products may hinder the global waterproof tapes market growth over the forecast period. Waterproof tapes market has a very high growth potential with massive research and development activities in taking place across the emerging countries of the world.
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The global waterproof tapes market can be segmented on the basis of adhesive, substrate, and end-users. The adhesive segment includes; silicone, acrylic, butyl, and others. Among these, the silicon sub-segment is projected to witness the highest growth during the forecast period for the waterproof tapes market. Silicone adhesives give high bonding strength and provide efficient solutions for various substrates. Based on the substrates, waterproof tapes market is classified into plastics, metals, rubber, and others. In terms of volume, metals sub-segment accounted for 35% of the market share in 2017. Metal substrate waterproof tapes provide high resistance. The end-user segment includes; automotive, building & construction, healthcare, electrical & electronics, packaging, and others. The automotive segment dominated the global waterproof tapes market in 2017. Healthcare segment, which contributed significantly towards a global waterproof tapes market share in 2017, is anticipated to register the highest CAGR in the coming years.
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The regional segmentation includes North America, Europe, Asia Pacific, Latin America, and the Middle and Africa. In 2017, Asia Pacific was the most dominating region in terms of demand for waterproof tapes market, owing to thriving construction sector. Market growth is mainly due to the increasing population in developing countries such as India and China. Furthermore, the increasing use of waterproof tapes in the healthcare industry is likely to help the industry witness the highest CAGR over the forecast period in the Asia Pacific region. The Middle East and Africa are anticipated to grow at a higher rate in the waterproof tapes market, owing to the beneficial properties of waterproof tapes.
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The report includes detailed profiles of key players operating in the global waterproof tapes market such as 3M, A.B.E. Construction Chemicals, Advance Tapes International, Asian Paints, Avery Dennison, BTM, Chowgule Construction Chemicals, Dukal, Furukawa Electric, Gebrüder Jaeger, Henkel, Heskins, Isoltema, Johnson & Johnson, Medline Industries, Metalnastri, Nitto Denko, Permatex, Scapa, Shanghai Richeng Electronic, Shurtape Technologies, Tapespec, Tejas Cobert, Teraoka Seisakusho, and Tesa.
This report segments the global waterproof tapes market as follows:
Global Waterproof Tapes Market: Adhesive Segment Analysis
- Silicone
- Acrylic
- Butyl
- Others
Global Waterproof Tapes Market: Substrate Segment Analysis
- Plastics
- Metals
- Rubber
- Others
Global Waterproof Tapes Market: End-User Segment Analysis
- Automotive
- Building & construction
- Healthcare
- Electrical & electronics
- Packaging
- Others
Global Waterproof Tapes Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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