Global Specialty Tapes Market 2019-2023 | Increased Use of Silicon Adhesives in Specialty Tapes to Boost the Market | Technavio
(prsubmissionsite) October 10, 2019 – A new market research study by Technavio on the global specialty tapes market projects the market to grow at a CAGR of over 5% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
Growing end-user industries
The major end-users of specialty tapes are the chemical industry, health and personal care industry, and the food and beverage industry. The chemical industry is investing in specialty tapes for chemical packaging and other applications. The health and personal care industry need specialty tapes as they offer high durability, resistance against contamination, hygiene, and protection against weather conditions. The food and beverages industry is also a significant sector projecting a steady demand for specialty tapes for packaging and sealing food containers. Thus, the growth of end-user industries is expected to drive the demand for specialty tapes during the forecast period.
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Increased use of silicon adhesives in specialty tapes
The adoption of polydimethylsiloxane (PDMS), commonly referred to as silicon is rising due to its widespread applications and auxiliary properties. It is chemically passive, nonsticky, non-flammable, non-toxic, and optically clear, making it widen its use in industrial, graphic arts, medical, electronics, and automotive sectors. Furthermore, silicon-based adhesives are two-sided and are widely preferred in tape manufacturing as it protects the adhesive and restricts the interaction between the paper or film and the adhesive. Therefore, the increasing adoption of silicon-based adhesive is expected to support market growth during the forecast period.
According to a senior analyst at Technavio for commercial services and supplies, “The preference for environment-friendly specialty tapes is growing rapidly, as several manufacturers and end-user industries are trying to reduce their carbon footprint. Therefore, several manufacturers are launching eco-friendly specialty tapes, that is recyclable, biodegradable, or made from recycled materials. Therefore, such initiatives from manufacturers are expected to protect the environment as well as contribute largely to the growth of the market.”
Fluctuating raw material prices
The prices of raw materials used in the manufacturing of specialty tapes are highly volatile due to the high dependence on crude oil prices and natural forest products. These fluctuations bring uncertainty to the market, adversely affect the production costs, hamper the profit margins of vendors negatively, and impact the growth of the global specialty tapes market during the forecast period.
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Top players in the global specialty tapes market:
· Beiersdorf AG
· Henkel AG & Co. KGaA
· The Dow Chemical Co.
Some of the key topics covered in the global specialty tapes market include:
· Market ecosystem
· Market characteristics
· Market segmentation analysis
· Market definition
· Market size and forecast
Five Forces Analysis
· Regional comparison
· Key leading countries
· Vendors covered
· Vendor classification
· Market positioning of vendors
· Competitive scenario
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