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Duct Tapes Market to Grow at 5.2%; Natural Rubber-Based Adhesives to Contribute Over 4/5th of Total Sales: FMI
Demand for duct tapes is rapidly increasing across the heating, ventilation, and air conditioning (HVAC) industry owing to its extensive used for adhesion at various stages from installation to maintenance and repairs. In response to this, the sales of duct tapes is poised to total 2.4 Mn square meters by 2021.
Further, due to their excellent adhesion properties, duct tapes are also increasingly being used for rectifying leakages in ventilation pipes made of plastic, metal, and other combined materials.
Hence, increasing demand for HVAC installation, due to the implementation of stringent government regulations for providing proper ventilation facilities across various sectors is projected to create lucrative growth opportunities in the market.
Increasing use of duct tapes for sealing, repairing, coding, splicing, strapping and other purposes in automotive sector is propelling the demand in the market. Driven by this, the sale of duct tapes are anticipated to rise at .
On the basis of adhesive type, the natural rubber-based adhesive segment is projected to account for the maximum share in the market, expanding at 5.7% CAGR through 2031. Primary factors favoring the growth in the segment is eco-friendly and cost-effectiveness attributes of natural adhesive duct tapes compared to synthetic one.
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As per FMI, the top five players in the global duct tapes market are Tesa SE Group, Scapa Group plc, SICAD S.p.A., PPM Industries S.P.A, and Shree Shubh Industries. These companies are expected to account for nearly .
Key manufacturers are aiming at introducing new product and increasing their production capacity to meet the surging demand from various end use industries. For instance,
The latest report by FMI provides a detailed analysis of the global duct tapes market, providing credible insights into key factor driving the market through 2021 & beyond. The study also disclosed growth projections on in duct tapes market with detailed segmentation:
https://www.futuremarketinsights.com/customization-available/rep-gb-2641
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai , and has delivery centers in the UK, U.S. and India . FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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