Global Electrical Tape Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Electrical Tape Market 2021 (Includes Business Impact of COVID-19)
Global Electrical Tape Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global electrical tape market report has been segmented on the basis of type, application, and region.
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The global Electrical Tape market size was valued at USD $5.82 billion in 2020 and is projected to reach USD $9.85 billion by 2030, and is anticipated to expand at a CAGR of 3.89% over the forecast period from 2020 to 2030.


Global Electrical Tape Market: Overview


Electrical tape or electrical insulation tape is a pressure sensitive tape used to make small repairs to damaged insulation or to insulate electrical wires and other material that conduct electricity. The electrical tapes are generally useful in the structure of electrical equipment for insulation. Electrical tape can be made up of vinyl, cloth, or plastics, which is useful in various electrical applications. It provides optimum protection against UV radiation, dust, moisture, acids, dirt, solvents, and temperature.


Global Electrical Tape Market: Dynamics


The growth of the electrical tape market is attributed to the growing manufacturing sector in developing and developed countries and rising awareness regarding benefits related to tapes. In addition, electrical tape is generally used to insulate and protect electrical components in many industries owing to heat resistance and dielectric strength properties, these properties of electrical tape are projected to boost the global market during the forecast period. Growing construction industry in developing and developed countries coupled with rising demand for electrical tape in various color codes for ensuring safety, which in turn estimated to propel the market growth over the long run.

However, fluctuating raw material prices of electrical tape is estimated to retrain the growth of the global electrical tape market to a certain extent.

Rising usage of electrical tapes in the automotive industry for various end uses coupled with technological advancements is projected to create lucrative opportunities for the manufactures in the global market in the near future.


Global Electrical Tape Market: Segment Analysis


Among the type segments, the PVC electrical tape segment is projected to account the highest revenue share in the global electrical tape market, owing to their augmented properties such as suitable for insulation, bundling, maintenance, color coding, and better protection of electrical wires and parts at a lower cost. The PET electrical tape segment is projected to register moderate growth in the target market.

Among the application segments, the electrical segment is projected to dominate the global market and is projected to register a significant growth rate as compared to other application segments. The auto industry segment is projected to register a lucrative growth rate in the near future.


Global Electrical Tape Market: Region Analysis


Increasing demand for electrical tapes in electrical & electronics application in the Asia Pacific is expected to drive the growth of the target market in the region. The rising number of end-use industries operating is projected to propel the growth of the Asia Pacific market. China and India have mostly contributed a major share in the Asia Pacific market.

North America market is projected to account a second largest share in the global market and is expected to register steady growth rate over the next 10 years. Growing demand for tapes in aerospace and automotive industries in the US and Canada is estimated to drive the growth of the North America electrical tape market.

Global Electrical Tape Market Segmentation:

Segmentation by Type:

  
Cloth Electrical Tape
  
PVC Electrical Tape
  
PET Electrical Tape

Segmentation by Application:

  
Electrical & Electronics
  
Auto Industry
  
Aerospace
  
Communication Industry


Key Market Players included in the report:


  
Achem
  
Avery Dennison Corporation
  
Beiersdorf AG
  
Electro Tape Specialties Inc. (U.S.)
  
Euro Tapes Pvt. Ltd (India)
  
Four Pillars
  
Godson Tapes Private Limited (India)
  
HellermannTyton (U.K)
  
H-old S.P.A (Italy)
  
Intertape Polymer Group Inc. (Canada)
  
Nitto Denko Corporation (Japan)
  
Parafix Tapes & Conversions Ltd. (U.K)
  
Plymouth Rubber Europa
  
PPM Industries UK LTD (U.K)
  
ProTapes & Specialties Inc. (U.S.)
  
S.A. (Spain)
  
Saint Gobin
  
Scapa
  
Teraoka Seisakusho Co.Ltd. (Japan)
  
The 3M Company (U.S.)


Below are the key development related to Electrical Tape Market in 2020 and 2021.


August 2020: Pittsburgh Electrical Insulation (PEI) Acquires Fibertek to Expand. U.S.-Based Manufacturing Capacity and Industry-best Brand Offerings. Pittsburgh Electrical Insulation, Inc. (PEI) is pleased to announce the acquisition of the Electrical Products Division of Fibertek, Inc. of Franklin, Tenn. Fibertek is a manufacturer of leading-edge specialty fiberglass tapes and high-performance laminates for electrical insulation applications in electric motors, generators, and transformers. Source