The rubber tapes market is estimated to be worth around USD 955.4 million in the current year 2023. With sales of rubber tapes thriving at a 4.5% CAGR, the market valuation is projected to reach USD 1,483.7 million by 2033.
As per the report, rubber tapes are made up of ethylene polypropylene rubber. They are poised to emerge as a preferred product type across the global rubber tapes market. Total sales of ethylene polypropylene rubber tapes are expected to grow 1.6 times over the assessment period.
Increasing sales of rubber tapes for repairing and protecting, along with rising expenditure on regular upkeeping and maintenance of machines and equipment could continue driving the market. In 2022, more than 39% of rubber tapes used were used for repairing and protecting applications.
As per the regional sales analysis, North America and Europe could account for 50% of the total global sales of rubber tapes throughout the upcoming decade. The global market comprises 1 to 2% of the global adhesive tapes market valued at USD 62.6 billion in 2021.
| Attributes | Details |
|---|---|
| Global Rubber Tapes Market Valuation in 2022 | USD 914.8 million |
| Estimated Global Market Share in 2023 | USD 955.4 million |
| Forecasted Global Market Size by 2033 | USD 1,483.7 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 4.5% CAGR |
| Market Share of Top 3 Countries in 2022 | 40 to 45% |
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The total demand for rubber tapes in the year 2018, in terms of value, was worked out to be USD 796.1 million. Demand for rubber tapes is projected to record a steady 4.5% CAGR over the forecast period, in comparison with the 3.5% CAGR registered between 2018 to 2022.
Expansion of the automotive industry across several counties, especially in the Asia Pacific region is expected to provide an impetus to growth in the market. Increasing adoption of adhesive products such as rubber tapes which are a perfect solution for sealing, insulating, and joining in different automotive parts may propel sales. Additionally, expanding trade and logistics business, increased retail purchasing and growing demand for packaged food goods are factors influencing the market.
Automobile manufacturers across the globe are increasing the production of vehicles to keep up with the growing demand for lightweight and fuel-efficient passenger cars. In addition to that, the adoption of fast-paced production techniques and improvements in manufacturing equipment might spur demand for rubber tapes in the automotive industry.
Rubber tapes are being used across several applications in heavy engineering for decades. The ability to withstand higher temperatures and be effective across protective applications is driving sales in the market.
Key manufacturers are offering a variety of rubber tapes using a combination of adhesives and different backing materials. To produce the best-suited products for high-temperature applications across the industrial sector.
Innovation-driven rubber tape manufacturers have always been effective to find out the problems faced by end-user industries during the application of rubber tapes on irregular surfaces.
Thus, they are launching a series of rubber tapes through continuous research & development. With a keen focus on product development to diversify the applications of rubber tapes. Moreover, increasing demand for custom-built rubber tapes is expected to create opportunities for growth for players over the forecast period.
Governments across the globe are issuing regulatory norms for manufacturers to adopt eco-friendly manufacturing processes. Moreover, to manufacture products that have minimal 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 issued 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.
Rubber tapes have no adhesives and leave little to no residue when applied. Making them a sustainable alternative in comparison to other tapes made of petroleum products.
Growing Demand for Rubber Insulation Tapes in the Electronics Sector is Projected to Augment Market Growth
As per FMI, sales in the electrical & electronics segment are estimated to remain high over the forecast period. Increasing adoption of rubber tapes in electrical insulation, color coding, jointing, packaging, wiring, and harnessing might continue driving sales in this segment.
Along with that, rubber tapes are also widely popular for splicing and terminating wires and cables. Manufacturers are also offering tapes having customized thicknesses other than the standard ones as per the industry's needs.
| Category | By Product Type |
|---|---|
| Top Segment | EPR Rubber Tape |
| Market Share in Percentage | 45.6% |
| Category | By End-user Verticals |
|---|---|
| Top Segment | Electrical & Electronics Industry |
| Market Share in Percentage | 38.9% |
Growing demand for electronic gadgets, machines, and engineered products, along with consumer perceptions to change electronic goods frequently has a direct positive impact on the sales of rubber tapes.
The sales of rubber tapes across the electrical and electronics industry are expected to offer a total incremental opportunity of USD 145 million between 2023 and 2033. Making it a profitable end-use industry for rubber tape manufacturers.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 23.1% |
| Europe | 26.9% |
Increasing Demand for Rubber Seal Tapes in the Electronic Industry is expected to Fuel Growth in the United States
According to recent data from Global Tape Forum, the United States is the second-leading producer of tapes in the world. Expansion of the building & construction sector across the country, and growing demand for rubber tapes in electronics & electrical applications may place the country in a lucrative pocket.
Further, rising research & development activities in the aerospace and defense industry are projected to spur demand for rubber tapes. Moreover, the increasing adoption of insulating and joining tapes across general manufacturing industries is expected to augment the growth.
As per FMI, total sales of rubber tapes across the United States are projected to be valued at USD 189 million in 2022 and are expected to cross USD 260 million by 2033.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 20.7% |
| Germany | 5.6% |
| Japan | 3.6% |
| Australia | 1.6% |
Manufacturers are Using Rubber Electrical Tapes in China
Statistics released by the International Trade Administration show that China is the world’s leading vehicle market in terms of both manufacturing and sales. More than 25 million vehicles were sold in 2020. This included 19.9 million passenger vehicles and 5.23 million units of commercial vehicles. This is expected to create demand for rubber tapes in the country.
The easy availability of raw materials, cost-effective production technologies, and cheap labor are some factors that are encouraging manufacturers to establish production facilities in China. Driven by this, sales are expected to increase 1.7 times over the forecast period.
| Regional Market Comparison | CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 2.8% |
| China | 6.2% |
| India | 6.7% |
Leading players operating in the global market players focus on increasing their production capacity to keep up with the growing demand from various end-use sectors. In addition to this, they are investing in research and development to improve their product portfolios.
Recent Developments by the Rubber Tapes Industries
In September 2019, 3M Company made the Scotch High Tack Box Sealing Tape 375+ available in the market to expand its product line. This newly released tape is mainly designed for industrial packaging purposes that may be utilized for wrapping tasks including sealing and splicing. It is an improved version of Scotch 375+, which is a very high-performing tape from 3M known for rapid adhesive and strong holding power.
In January 2022, tesa SE announced its plan to start a new plant in Haiphong, Vietnam, with a production capacity of 40 million square meters of adhesive tapes per year.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million or billion for Value and 000’ Sq. Mt. for Volume |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; the Middle East & Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, Spain, France, Russia, China, Japan, India, GCC Countries, Australia |
| Key Segments Covered | By Product Type, By Thickness, By Application, By End-use Industry, and By Region |
| Key Companies Profiled | 3M Company; HellermannTyton Company; Scapa Group plc; tesa SE; Intertape Polymer Group Inc.; Berry Global Inc.; Nitto Denko Corporation; Atlantex Manufacturing Corp; Midsun Specialty Products, Inc.; CS Hyde Company; MOCAP, LLC; Parafix Tapes & Conversions Ltd; Cole-Parmer Instrument Company, LLC; Senson Tek; ERGOM Z.A.E. Sp. z o.o; Godson Tapes Private Limited; 3A Associates Incorporated; Omega Rubber Industries |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global rubber tapes market is to grow at 4.5% during the forecast period.
The global rubber tapes market is predicted to be valued at USD 1,483.7 million by 2033.
The global rubber tapes market was valued at USD 914.8 million in 2022.
The United States accounts for nearly 20.7% revenue share of the global market.
India is predicted to witness a CAGR of 6.7% in sales of rubber tapes through 2033.
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