As per the research conducted by Future Market Insights, during the forecast period, the global mastic tapes market is predicted to reach a valuation of US$ 344.1 million in 2023 and is going to further expand at a CAGR of 3.2% to get the valuation of US$ 471.5 million by the year 2033. The sales of the Tapes Market are anticipated to bolster with the top 5 countries projected to hold approximately 25-30% of the market by the end of 2023.
The butyl mastic tape is leading the global mastic tapes market with a significant market share in 2023. The reason behind is easy and adequate availability of raw material with exceptional packaging barrier properties.
| Attributes | Details |
|---|---|
| Market Size 2023 | US$ 344.1 million |
| Market Size 2033 | US$ 471.5 million |
| Value CAGR (2023 to 2033) | 3.2% |
| Collective Value Share: Top 5 Countries (2022A) | 25%-30% |
There is a surge in demand for secure and effective taping, manufacturers are experiencing remarkable demand from the industry players for a variety of industrial usage. The global mastic tapes market is estimated to reach US$ 344.1 million by 2033, increasing at a CAGR of 3.2%throughout the forecast period.
The mastic tapes market is expected to experience a lucrative growth outlook during the forecast period. A new estimation predicts that mastic tape sales will rise during 2023–2033 and is projected to generate an attractive incremental growth opportunity of US$ 136.8 million.
The mastic tapes market is predicted to expand 1.4 times the current market value during the forecast period.
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The global mastic tapes market witnessed a CAGR of 2.7% during the historic period with a market value of US$ 334.7 Million in 2022.
Additionally, the growth in the electronics & Electrical industry is also driving the market for mastic tapes as they are commonly used to seal air ducts and vents in HVAC systems. The increasing adoption of mastic tapes in various industrial sectors such as oil and gas, transportation and heavy equipment, and power generation is also expected to contribute to the growth of the market.
Mastic tapes provide tremendous insulation up to 1000 volts. Mastic tapes provide very high moisture resistance which makes them applicable in high-water contact areas. They are available in different sizes and thicknesses; hence they are feasible to apply in the required area.
Mastic tapes are pressure-sensitive adhesives used for air and moisture sealing in various applications such as HVAC, insulation, and construction. They are made from a flexible and durable material, typically rubber or silicone, and are used in conjunction with other insulation products such as insulation boards, glass wool, and polyethylene. The global mastic tapes market is driven by the growth of the construction and building industry, increasing demand for energy-efficient buildings, and the rise of green building practices. Additionally, the development of new technologies, such as fire-resistant and UV-resistant mastic tapes, is expected to further drive market growth.
Mastic tapes are used for electrical insulation in various applications such as in power generation, transmission, distribution, and the manufacturing and construction of electrical equipment. The use of mastic tapes in electrical insulation can help improve the performance and longevity of electrical equipment, while also reducing the risk of electrical fires. The increasing demand for energy-efficient buildings and electrical equipment, along with the growing construction and renovation industry, is expected to drive the market growth for mastic tapes used in electrical insulation. The increasing adoption of renewable energy sources, such as solar and wind power, is also expected to drive market growth for mastic tapes used in electrical insulation.
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The rise in the construction industry can increase the worth of the mastic tape market because as construction activities increase, the demand for mastic tapes also increases. Mastic tapes are widely used in construction as they are an effective and efficient solution for sealing gaps, joints, and seams. Increasing demand for mastic tapes in construction and building applications, particularly in the repair and maintenance of roofs and walls raises its market value. Advancements in technology led to the development of new and improved mastic tapes with enhanced performance characteristics. Increasing awareness about the benefits of mastic tapes, such as their high durability and resistance to extreme temperatures and weather conditions. Growing adoption of mastic tapes in HVAC and plumbing. Rising infrastructure development activities in emerging economies. Government regulations and initiatives to promote energy efficiency and sustainable building practices, which drives the market for mastic tapes.
The butyl mastic tapes are anticipated to hold 57.1 % market share in global mastic tape market during forecast period.
Butyl tapes are known for their high durability, UV resistance, and ability to provide reliable sealing in extreme temperatures, making them the preferred choice for various applications in construction and building maintenance. Butyl mastic tapes provides superior properties and performance in comparison to other types of mastic tapes.
Butyl mastic tapes are highly resistant to UV radiation and extreme temperatures, making them ideal for use in outdoor applications where weather conditions can be unfavorable. Butyl mastic tapes have strong adhesion properties and can bond to various surfaces effectively, making them suitable for use in sealing and waterproofing applications. Butyl mastic tapes can be used in a variety of applications, including sealing roof penetrations, around skylights, and the seam sealing on metal roof systems. Butyl mastic tapes are easy to apply, even in hard-to-reach areas, and they conform to irregular surfaces, making them ideal for use in many applications.
Mastic tapes less than 80 mm in width are used to provide insulation and air sealing in buildings, thereby reducing energy consumption and increasing energy efficiency. Less than 80 mm mastic tapes are projected to expand 1.6 times the current value during forecast period.
Mastic tapes of less than 80 mm are also used to provide abrasion protection for various surfaces, such as pipes and ducts. It is one of the factors contributing to the growth of the global mastic tape market. Mastic tapes are widely used in various construction and insulation applications, and the increasing demand for these products in various end-use industries is driving the growth of the global mastic tape market. The 80mm size of mastic tapes are popular in specific applications and industries, and the demand for these tapes is expected to continue to rise, further contributing to the growth of the market.
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| Country | USA |
|---|---|
| Market Share (2023) | 15.3% |
| Market share (2033) | 14.8% |
| Basis Points (BPS) Analysis | -50 |
| Country | China |
|---|---|
| Market Share (2023) | 8.8% |
| Market share (2033) | 8.5% |
| Basis Points (BPS) Analysis | -30 |
| Country | India |
|---|---|
| Market Share (2023) | 6.5% |
| Market share (2033) | 6.9% |
| Basis Points (BPS) Analysis | 40 |
| Country | Japan |
|---|---|
| Market Share (2023) | 5.2% |
| Market share (2033) | 5.8% |
| Basis Points (BPS) Analysis | 60 |
| Country | Germany |
|---|---|
| Market Share (2023) | 9.6% |
| Market share (2033) | 9.9% |
| Basis Points (BPS) Analysis | 30 |
The US is known for its technological advancements and innovation, which has led to the development of new and improved mastic tape products that meet the needs of consumers and businesses. The US has a well-established distribution network that allows for the efficient distribution of masking tape products to various regions of the country. The US is the largest market for mastic tapes in North America, driven by the construction and building industry. The demand for mastic tapes in the region is primarily driven by factors such as increasing construction activities, rising demand for energy-efficient buildings, and growing awareness about the benefits of mastic tapes. The market in North America is characterized by the presence of a large number of manufacturers and suppliers of mastic tapes.
Indian mastic tapes market is anticipated to hold 42.2% market share in south Asian mastic tapes market during forecast period. As per India Brand Equity Foundation, the Indian government allocated US$ 1.8 billion infrastructures development due to the presence of a large consumer base and the increasing construction and infrastructure activities in India. The rising demand for mastic tape in the region for various applications, such as HVAC, electrical, and plumbing, is expected to drive market growth. The market is expected to grow due to increasing demand for mastic tapes in infrastructure development projects and rising consumer preference for eco-friendly and high-performance products.
The global mastic tapes market is highly competitive, with a large number of players operating in the industry. These companies are focusing on strategic collaborations, partnerships, and new product launches to expand their market share. In addition to established players, the market also has a significant number of small and medium-sized enterprises (SMEs) that are focused on providing niche products and services.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.2% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2014 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion, Volume in Units and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product, Width, ApplicationEnd Use, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia & Pacific; Western Europe; Eastern Europe; Central Asia; Russia & Belarus; Balkan Countries; Baltic Countries; Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Germany, Italy, UK, France, Spain, Russia, Poland, South Africa, GCC Countries, North Africa, India, China |
| Key Companies Profiled | 3M Company; Saint-Gobain Tape Solutions; Sika India Pvt Ltd; The Dow Chemical Company; TPC Packaging Solution; W. R. Meadows, Inc.; Denso North America Inc.; Osaka Rubber Private Limited; Omega Rubber Industries; Tesa Inc; Intertape Polymer Group; Scapa Group; Berry Global Group; Lintec Corporation; Shurtape Technologies, LLC.; Centroid Polymer Technologies; McMaster-Carr Company; NSI Industries; FiloForm B.V. Company; Adhesive Specialties Pvt Ltd; Mitsubshi Chemical Group; Permabond LLC; Can-Do National Tapes Company; H.B. Fuller Company |
| Customization & Pricing | Available upon Request |
The global mastic tapes market was US$ 334.7 Million in 2022.
The global mastic tapes market is projected to reach US$ 344.1 Million by the end of 2023.
The mastic tapes market is estimated to reach US$ 471.5 Million in 2033.
The global mastic tapes market exhibited a CAGR of 3.1% over the last 4 years.
The mastic tapes market is projected to register a CAGR of 3.2 % from 2023 to 2033.
The Butyl material will garner significant value share by 2023.
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