Global Duct Tape Market Size and Demand Is Poised to Grow $6.85 Billion by 2030 At A 7.31% CAGR

New York, NY, July 19, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Duct Tape Market By Product (Removable Duct Tapes, Utility Duct Tapes, Professional Grade Duct Tapes, And Specialized High Strength Duct Tapes), By Application (Sealing, Holding, Strapping, Repairing, Splicing, And Coding), By End-User (HVAC, Shipping & Logistics, Electrical & Electronics, Building & Construction, Automotive, And DIY Activities), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Duct Tape Market size & share in terms of revenue was valued at USD 3,941.56 Million in 2022 and it is expected to surpass around USD 6,845.97 Million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.31% during the forecast period 2023 to 2030.”

What is Duct Tape? How big is the Duct Tape Industry?

Duct Tape Report Coverage & Overview:

A form of pressure-sensitive tape known as duct tape can be used for a variety of purposes, including watertight sealing, strapping, splicing, repairing, and holding. In addition, these items have a color similar to a silvery gray and are offered with a variety of printed patterns and solid colors to choose from. For the record, the first material to be referred to as duct tape was a non-adhesive plain cotton cloth with long strips that was used for making shoes robust, embellishing clothes, and wrapping steel wires to protect them against corrosion. It was initially employed in the early 1900s. Furthermore, the choice has switched from conventional substances to current lightweight materials such as latex and fibers as a result of technological developments as well as the beginning of the revolution known as Industrial 4.0.

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Global Duct Tape Market: Growth Dynamics

The increasing product penetration in the building activities is expected to boost the expansion of the global market from 2023 to 2030.

The expansion of the global duct tape market is most likely going to be driven by the thriving packaging and building industries. In addition, the widespread application of the product in a variety of industrial processes, as well as the demand for it in automobile assembly processes, will contribute to the rapid expansion of the market in every region of the world. The expansion of the market around the world will be driven in large part by the presence of favorable product attributes such as durability, remarkable holding power, and professional grade. In addition to this, expanding urbanization and industrialization, as well as rising demand for polyethylene and vinyl, would favorably leverage the expansion of the regional market.

In addition, the introduction of brand-new products is anticipated to contribute favorably to the expansion of the global market. For example, in July 2023, Flex Seal, a maker of adhesive bonding goods based in the United States, introduced a high-performance duct tape known as FlexTM Super Wide Duct Tape. This tape is resistant to water and has a sturdy reinforced backing. In addition, in comparison to other types of duct tape, this product stands out due to its extra-wide dimensions. In addition to this, during the third quarter of the year 2020, the leading manufacturer of adhesive-based products, Scapa Plc, released a new fire retarding PE film tape designed specifically for use in industrial settings. The duct tape business will be propelled forward in the years to come as a result of these initiatives.

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Report Scope

Duct Tape Market: Segmentation Analysis

The global duct tape market is sectored into product, application, end-user, and region.

In product terms, The global duct tape market may be broken down into four distinct submarkets: detachable duct tape, utility duct tape, professional-grade duct tape, and specialty high-strength duct tape. In addition to this, it is anticipated that the market segment for professional-grade duct tape, which amassed more than two-thirds of the global market share in 2022, will record the highest rate of compound annual growth rate (CAGR) during the course of the projected period. A rise in the need for professional-grade duct tapes in the construction industry and in remodeling activities all over the world can be linked to the expansion of the market in the coming years. This demand is expected to be widespread.

On the basis of the application, Repairing, sealing, holding, splicing, strapping, and coding are some of the several subindustries that make up the duct tape market around the world. In addition, the sealing market, which accounted for a sizeable portion of the worldwide industry's share in 2022, is projected to play a leading role in the expansion of the segment in the years to come. In the process of sealing ventilation and HVAC equipment, an enormous amount of duct tape may be used, which may have an effect on the segmental growth anticipated in the timetable.

Based on end-user, The global market for duct tape may be broken down into the following categories: building and construction, heating, ventilation, and air conditioning (HVAC), automobiles, shipping and logistics, electrical and electronics, and do-it-yourself activities. In addition, the HVAC sector, which captured a significant portion of the total revenue of the global market in 2022, is anticipated to predominate the segmental growth in the years to come. The massive use of duct tapes in the HVAC industry poses a potential risk to the segmental growth projected for the upcoming time period.

The global Duct Tape market is segmented as follows:

By Product         

• Removable Duct Tapes
• Utility Duct Tapes
• Professional Grade Duct Tapes
• Specialized High Strength Duct Tapes

By Application

• Sealing
• Holding
• Strapping
• Repairing
• Splicing
• Coding

By End-User

• HVAC
• Shipping & Logistics
• Electrical & Electronics
• Building & Construction
• Automotive
• DIY Activities

Browse the full “Duct Tape Market By Product (Removable Duct Tapes, Utility Duct Tapes, Professional Grade Duct Tapes, And Specialized High Strength Duct Tapes), By Application (Sealing, Holding, Strapping, Repairing, Splicing, And Coding), By End-User (HVAC, Shipping & Logistics, Electrical & Electronics, Building & Construction, Automotive, And DIY Activities), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/duct-tape-market

Competitive Landscape

Some of the main competitors dominating the global Duct Tape market include - 

• Rotogal di Gallio Angelo & C.s.n.c
• The 3M Company
• MBK Tape Solutions
• Intertape Polymer Group Inc.
• Shurtape Technologies LLC
• Berry Global Group Inc.
• Nadco Tapes & Labels Inc.
• Pro Tapes & Specialties Inc.
• International Plastics Inc.
• PPM Industries S.P.A..
• CS Hyde Company
• Blue Dolphin Tapes
• tesa SE Group
• Vibac Group S.p.A.
• Scapa Group plc
• SICAD S.p.A.
• Advance Tapes International Limited
• Nippon Industries
• Lares International
• Shanghai Yongguan Adhesive Productions Corp. Ltd

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global duct tape market is projected to expand annually at the annual growth rate of around 7.31% over the forecast timespan (2023-2030)
• In terms of revenue, the global duct tape market size was evaluated at nearly $3,941.56 million in 2022 and is expected to reach $6,845.97 million by 2030.
• The global duct tape market is anticipated to record massive growth over the forecast period owing to the large-scale use of the product in a slew of industrial operations along with its demand in automotive assembly operations.
• In terms of product, the professional-grade duct tape segment is slated to register the highest CAGR over the forecast period.
• On the basis of application, the sealing segment is slated to dominate the segmental surge over the forecast period.
• Based on the end-user, the HVAC segment is slated to dominate the segmental surge over the forecast period.
• Region-wise, the European duct tape market is projected to register the fastest CAGR during the assessment period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Duct Tape industry?
• What are the main driving factors propelling the Duct Tape Market forward?
• What are the leading companies in the Duct Tape Industry?
• What segments does the Duct Tape Market cover?
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Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Product, By Application, By End-User, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

In the course of the foreseeable future, North America will solidify its position as the dominant player in the international market.

It is expected that North America, which accounted for more than four-fifths of the revenue generated by the worldwide duct tape market in 2022, will show a substantial increase throughout the course of the assessment period. It is possible that the growing building and construction sector in countries like Canada and the United States would be the driving force behind the expansion of the market in this region over the period of 2023-2030. Just so everyone is aware, the construction industry in the United States contributed nearly more than 4% to the entire GDP of the country. In addition to this, it is anticipated that expenditures on building operations in the United States would rise in the future years as a result of the country's growing population, and this will contribute significantly to the overall size of the regional market.

In addition, it is anticipated that the duct tape market in Europe would record the highest CAGR throughout the duration of the evaluation period. The booming electrical and electronics sector in the continent is one of the causes that is expected to have a beneficial impact on the progress of the regional industry. In addition, an increase in exports of electronic goods and an increase in demand for duct tapes for the purpose of packaging electronic goods will both contribute to the expansion of the regional sector. In addition to this, the presence of significant firms on the continent would enhance the trends observed in the regional sector.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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