The global traffic control device tape market size is anticipated to be valued at USD 9.6 Billion in 2032 and exhibit immense growth at a CAGR of 5.2% in the forecast period from 2022 to 2032.
Stringent government mandates to increase safety of passengers and urgent need for operational efficiency are expected to push the sales of traffic control device tapes. The global traffic control device tape market is likely to reach USD 4.1 Billion in 2022.
| Report Attribute | Details |
|---|---|
| Traffic Control Device Tape Market Estimated Base Year Value (2021) | USD 3.8 Billion |
| Traffic Control Device Tape Market Expected Market Value (2022) | USD 4.1 Billion |
| Traffic Control Device Tape Market Anticipated Forecast Value (2032) | USD 9.6 Billion |
| Traffic Control Device Tape Market Projected Growth Rate (2022 to 2032) | 5.2% CAGR |
Traffic control device tapes are extensively used to control traffic, including vehicle and foot traffic. These act as temporary traffic signals to redirect traffic whenever a road is closed or during a hazard.
Demand for traffic control device tapes is set to grow at a steady pace in future years owing to their easy availability in the market.
These are provided in either orange-white or solid color combinations to attract the attention of drivers. These include accessories and marking tapes required for directing traffic or pedestrians and securing areas.
These are available in numerous high visibility colors and include large rolls of reflective sheeting, striped tapes, barricade tapes, danger tapes, and caution tapes.
The ability of these tapes to deliver markings for traffic control areas or work zones and provide high visibility in the dark is another vital factor that is likely to bode well for the traffic control device tape market size.
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Increasing traffic congestion in urban areas with the rising population is propelling the need for unique traffic management systems worldwide. The increasing usage of private vehicles by people in both developed and developing countries is another crucial factor that is anticipated to push the traffic control device tape market growth in future years.
Traffic control device tapes are mainly made by using tear-proof, resilient, and durable plastic materials, such as nylon, polypropylene, and polyethylene. Their high reusability capability is anticipated to augment the growth in this market. These are nearly 3 inches wide and 2 mm thick.
Rising fluctuations in the prices of raw materials may hamper the sales of traffic control device tapes in the upcoming years. As traffic management systems require vast amounts of data for analyzing real-time traffic information, the infrastructure needed should be highly developed.
Governments of various emerging countries are limiting their capabilities to spend more on road infrastructure development. This factor may also pose a major challenge in the global market over the forthcoming years.
The urgent need for barricade tapes in highly populated countries, such as India and China is likely to drive the Asia Pacific traffic control device tape market share in future years. Painting for warning or caution signs is a time consuming process and thus companies are preferring traffic control device tapes to avoid the inconvenience.
The presence of a large number of local manufacturers, especially in China would also create new growth opportunities in Asia Pacific. Besides, the country exports raw materials in other parts of the globe with the availability of low cost materials and labor. This factor would also enable manufacturers to generate more sales in the Asia Pacific market.
North America is estimated to remain in the second position, followed by Asia Pacific in the upcoming years. Increasing production and sales of vehicles in the USA and Canada is projected to bode well for the regional market.
The rapid expansion of the logistics and transportation sectors in this region is another vital factor that is anticipated to push the market.
Moreover, stringent norms associated with the improvement of road safety by government bodies are anticipated to propel the demand for traffic control device tapes in North America in the assessment period.
In addition, increasing awareness about accident prevention, as well as driver safety is likely to aid growth in the regional market.
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Some of the prominent companies present in the global traffic control device tape market include Vibac, 3M Company, Advance Tapes International Ltd., Kruse Adhesive Tape, Inc., Scapa, Surface Shields, and Nitto Denko Corp. among others.
Leading companies operating in the global market are increasingly focusing on introducing new products to fulfill the high unmet demand from end-user industries. Meanwhile, a few other companies are aiming to strengthen their positions in the global market by collaborating with renowned players and acquiring small-scale enterprises.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Material, Product Type, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | 3M Company; Kruse Adhesive Tape, Inc.; Nitto Denko Corp.; Surface Shields; Scapa; Vibac; Advance Tapes International Ltd. |
| Customization | Available Upon Request |
The global traffic control device tape market is expected to reach USD 9.6 Billion in 2032.
Asia Pacific is set to lead the traffic control device tape market in the forecast period.
Vibac, 3M Company, Advance Tapes International Ltd., Kruse Adhesive Tape, Inc., Scapa, Surface Shields, and Nitto Denko Corp. are some of the renowned companies in the traffic control device tape market.
| Market Value for 2024 | USD 1.3 billion |
|---|---|
| Projected Market Value for 2034 | USD 1.9 billion |
| Value-based CAGR of Market for 2024 to 2034 | 4.1% |
| Market Estimated Size (2023) | USD 5,276.5 million |
|---|---|
| Market Forecasted Size (2033) | USD 10,477.1 million |
| Market CAGR (2023 to 2033) | 7.1% |
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Traffic Control Device Tape Market
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