In 2022, the market for rubber tapes is anticipated to generate US$ 914.3 Mn. Market valuation is anticipated to reach US$ 1.4 Bn in 2032, with sales increasing at a 4.4% CAGR. According to the analysis, ethylene polypropylene rubber tapes will become the most popular product types on the worldwide rubber tapes market. Over the evaluation period, ethylene polypropylene rubber tape sales are anticipated to increase overall by 1.6 times.
The market will continue to be driven by increased sales of rubber tapes for repairing and protecting combined with rising costs for routine upkeep and maintenance of machinery and equipment. By 2022, applications for repairing and safeguarding things will account for more than 39% of all rubber tape usage.
“Growing adoption of rubber insulation tapes in the electrics and electronics industry, along with increasing demand from the automotive industry will continue driving the rubber tapes market over the forecast period,” says the FMI analyst.
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Key Takeaways:
Will Growing Preference For Sustainable Materials Spur Demand For Rubber Tapes?
Governments across the globe are issuing regulatory norms for manufacturers to adopt eco-friendly manufacturing processes and to manufacture products that have minimum effects on the environment.
As per the European Commission Eco-design Directive, all member countries are trying to reduce the environmental impact of products and energy consumption. Also, the commission has issues regulations for the adoption of eco-friendly products and sustainable energy consumption across all manufacturing domains.
Increasing awareness regarding the hazardous disposal of plastic waste has resulted in several environmental regulations. In response to this, manufacturers are using biodegradable raw materials to produce tapes.
Furthermore, rubber tapes have no adhesives and leave little to no residue when applied, making it a sustainable alternative in comparison to other tapes made of petroleum products.
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Rubber Tapes Market Landscape
Some of the key players dominating the global rubber tapes market are
Leading players operating in the global rubber tapes market are investing in mergers, acquisitions and collaborations to expand their global presence in the market. For instance:
Global Rubber Tapes Market By Category
By Product Type :
By Thickness :
By Application :
By End-use Industry :
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends