NEWARK, Del, Oct. 21, 2022 (GLOBE NEWSWIRE) -- The global duct tape market is expected to bolster at a robust CAGR of 5.1% over the assessment period between 2022 and 2032. The global market is anticipated to hold a valuation of US$ 4.42 Bn in 2022 and reach around US$ 7.27 Bn by 2032. Duct tapes are adhesive tapes that are commonly used for sealing, repairing, waterproofing, strapping, splicing, holding, and other chores. In the absence of tweezers, sticky duct tape can be used to remove small splinters. By sticking a small piece of duct tape to the splinter-affected areas then it can efficiently remove if the user slowly peels off the tape.
Duct tape has a wide array of applications all over the world which can be easily found in any household. It comprises a widespread application ranging from fixing stuff to covering something which has expanded the duct tape market over recent years. Owing to the latest technology and innovation integrating with duct tape manufacturing have shifted their inclination from conventional material to the latest lightweight material including fiber or latex. Duct tapes are excessively used to hide small objects in such a place that is hard to find, or reach is known as an integral part of its applications. Duct tape is strong enough to secure keys, money, credit cards, and more.
Due to the presence of regional and local manufacturers, the duct tape market is fiercely competitive and fragmented worldwide. Manufacturers are making sure to use duct tape for specific applications in order to ensure good market strength. These companies also offer long-term taping solutions for various companies so that the end user can choose accordingly. The prominent application of duct tape is to fix things. This ranges from fixing a tent to fixing different toys and household stuff, duct tape’s strength binds everything together. While it fixes things, small pieces of it can fix small holes in car covers, fixing them to use until you buy a replacement.
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Key Takeaways
- A recent global study on duct tapes suggests that the restoration of multiple industries post the Covid-19 pandemic increased its pace along with the exponential growth of e-commerce market fueled the sales of duct tapes over the recent years. The growth of the global duct tape market is attributed to the advanced packaging solutions for clothes, food, and other equipment which has led to a higher demand for duct tape since it also provides sustainable packaging solutions.
- In the technologically driven world, rapid innovations are taking over every industry and are known to accelerate in the future. Owing to the rising production combined with the consumption of electronics and electrical products has resulted in creating impressive scope for the expansion of the duct tapes market.
- Due to the rising online food delivery platforms, the demand for a solid packing solution is a must. Duct tapes being an integral part of the packing industry have made their mark in the FMCG ecosystem. Backed by these factors, the duct tape market is expected to bolster over the assessment period.
- Various food safety regulatory authorities are constantly focusing on eliminating harmful substances from the food packaging industry in order to reduce the risks of contamination of food during transit, expanding the duct tape market size. The significant growth of online food delivery platforms and the elevation in-home deliveries of food have resulted in high demand for food packaging products, including adhesive tapes of all types. The demand for 100% food-grade duct tape is rising exponentially.
Competitive Landscape
The prominent manufacturers of duct tape are concentrating on increasing their production capacity in order to meet the surging demand from numerous industries such as building & construction, HVAC, automotive, shipping & logistics, electrical & electronics, and others. Companies also acquire, merge, and promote their products to enhance their supply chain and sales.
More Insights into the Duct Tapes Market
North America is anticipated to dominate the global duct tape market as it accounts for around 90% of the market share. The United States is expected to become the most attractive market for duct tape owing to the growing building and construction industry.
Germany is predicted to be the second largest market in the European duct tapes market which is expected to account for around 20% of the European market share by the end of 2031. The exponential growth of the electrical & electronic industry in Europe will continue augmenting the sales of duct tape.
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Key Segments
By Product Type:
- Removable Duct Tapes
- Professional Grade Duct Tapes
- Utility Duct Tapes
- Specialized High Strength Duct Tapes
By Adhesive Type:
- Natural Rubber based Adhesives
- Synthetic Rubber based Adhesives
By Backing Type:
- Plastic
- Polyethylene
- Polyvinyl Chloride
- Polyester
- Foil
- Cloth
By Application:
- Sealing
- Repairing
- Holding
- Waterproofing
- Coding
- Strapping
- Splicing
- Others
By Thickness:
- <10 Mil
- 10 to 15 Mil
- >15 Mil
By End Use Industry:
- HVAC
- Building & Construction
- Shipping & Logistics
- Automotive
- Electrical & Electronics
- DIY Activities
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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