Electrical Tape Market is predicted to expand at approximately 5.52% CAGR by 2027

Pune, India, May, 2018 /MRFR Press Release/- Market Research Future published a cooked research report on global electrical tapes market. The Electrical Tapes market is expected to expand at approximately 5.52% CAGR during the period from 2016 to 2023.

Market Highlights

Electric tape is available in multiple colors, which have different properties. Electrical color code describes which wire has correct configuration of an electrical system, which is paramount for safety. Every color used for electrical wiring has a specific meaning, with different colors indicating different circuit types and purposes. In some countries, all permissible wiring colors are specified by the governing body, while the colors used for some types of wiring are established by local practices followed by electrical contractors and electricians. Thus, wiring color may vary from country to country. American electrical contractors and electricians are required to follow the National Electrical Code (NEC) about wiring colors. Each color of electrical tape represents a certain voltage level and usage designation for phasing tasks.  

Volatile raw material prices are acting as a restraint to the growth of the electrical tapes market. Price and availability of raw materials are the key factors for tape manufacturers to decide the cost structure for their products. Rubber, PVC, cloth, and polyester films are the raw materials used in the manufacturing of electrical tapes. Most of these raw materials are petroleum-based derivatives, and there are fluctuations in commodity prices. The adhesives industry is affected by high manufacturing costs resulting from increased energy costs. In the automotive industry, adhesives have become a key technology and continue to replace other fixing methods. Tape is a major solution for the wide range of applications in the automotive industry, which include attachment part mounting, cable mounting, hole covering, interior mounting, mirror assembling, surface protection, wire harnessing, and masking. It plays an important role in the vehicle manufacturing process from the body shop to final assembly point. The planned ban on petrol and diesel car sales by 2040 will change the automotive industry scenario. An electric car’s battery generates heat and voltage that needs to be shielded to ensure user safety. Hence, a company, Tesa, has produced a double-sided tape and special film that ensures no power surges occur, with batteries having the ability to survive temperatures up to 150°C. With the continuing drive to keep vehicle weight to a minimum, tapes are offering an advantage over traditional mechanical fixings. This aptly highlights the need and scope for the electrical tapes market in the automotive industry.

Manufacturers of electrical tapes offer a comprehensive portfolio of cloth, PVC, polythene, foil, masking, and double sided tapes for indoor and outdoor applications, which have been developed for every trade throughout the construction or repair process. Considering the influence of the construction industry in boosting the market's growth, rising demand for electrical tapes has been witnessed in the Asia Pacific region. China, India, and South Korea are some of the countries that are witnessing economic growth, particularly in the building and construction industry, further highlighting the potential for this market on the global platform.

Access Report @ https://www.marketresearchfuture.com/reports/electrical-tapes-market-5010

Drivers:

Scope of the Report

This study provides an overview of the Global Electrical Tapes Market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Electrical Tapes Market by its Type, Application and Region.

• By Type


• PVC Electrical Tape


• Cloth Electrical Tapes


• Rubber Tapes


• Polyimide Tapes


• Polyester Film Tapes


• Others


• By Application


• Construction


• Electrical/Electronic


• Aerospace


• Automotive


• Others


• By Region


• North America


• Europe


• Asia Pacific


• Rest of the World

Key Players

The key players in global electrical tapes market are Avery Dennison Corporation (U.S.), Intertape Polymer Group Inc. (Canada), HellermannTyton (U.K), The 3M Company (U.S.), Nitto Denko Corporation (Japan), Teraoka Seisakusho Co., Ltd. (Japan), Plymouth Rubber Europa, S.A. (Spain), ProTapes & Specialties, Inc. (U.S.), Electro Tape Specialties, Inc. (U.S.), H-old S.P.A (Italy), PPM Industries UK LTD (U.K), Euro Tapes Pvt. Ltd (India), Godson Tapes Private Limited (India) and Parafix Tapes & Conversions Ltd. (U.K) amongst others.