Specialty Tapes Market Size Global Business Growing Strategies, Technological Innovation and Emerging Trends Of Outlook To 2030

Regulatory Analysis

The increasing regulations by the regulatory authorities such as the US Environmental Protection Agency, EPA (US), International Maritime Organization, IMO (UK), and European Commission (Europe) regarding emissions of volatile organic compounds is affecting the market growth. However, the players operating in the global Specialty Tapes Market are emphasizing on developing tapes that emit less VOCs.

Market Synopsis

The Global Specialty Tapes Market Size is expected to register a CAGR of 6% and cross USD 62 Billion by 2027. The demand for specialty tapes is primarily driven by the widespread use in electronic appliances owing to the superior benefits offered which include improved electrical insulation and resistance to heat & chemicals. Growing automotive industry in the developing markets with increased spending on automobiles coupled with rising per capita disposable income is expected to propel the market growth.

Segmentation

By Resin Type: By resin type, specialty tapes can primarily be categorized into acrylic, rubber, and silicone.

• Acrylic- It was the largest and fastest-growing segment in the global Specialty Tapes Market in 2020 due to its general applicability and strong bonding capability as well as its ability to withstand high temperatures. They do not lose their functionality even after prolonged exposure to UV lights as well as to chemical agents, further enhancing their usability. Acrylic foam tapes are being widely used in numerous applications including automobiles to mount automobile parts, logo, and accessories; white goods, and construction among others.
• Rubber – It offers excellent insulation and sealing with the ability to withstand high temperatures. It is relatively cheap and highly used in the electrical & electronics and automotive industries.
• Silicone- It is resistant to tearing and have controlled elongation making it ideal to seal hard to reach places. The quick sealing also makes it very useful for filed repairs.

By Backing material: Backing material adds many qualities to the specialty tapes and is responsible for the increased specialization within the specialty tapes market. Based on backing material, the specialty tapes market has been segmented into polyvinyl chloride (PVC), woven/non-woven, paper, polyester (PET), foam, polypropylene, metal, glass cloth, polyethylene, and others.

• Polyvinyl Chloride (PVC)- PVC backed tapes was the largest and fastest-growing segment in the specialty tapes market in 2018 and is expected to register a significant growth during the review period on account of widespread use in electrical & electronics, automotive, and aircraft industries. PVC possesses superior flame retardant, chemical resistance, and electrical insulation properties.
• Woven/Non-woven tapes- Woven/Non-woven was the fastest-growing segment in the global specialty tapes markets. Woven tapes are difficult to tear while non-woven tapes can be easily torn, even by hand. Non-woven backed tapes are used in the automotive industry. It also finds use in the healthcare industry due to their comfort and ease of tearing. Non-woven cloth tapes possess good noise and vibration absorption properties.
• Foam tapes- Foam tapes are excellent at dampening vibrations and noise with the added ability to adapt to rough substrates and compensate for the different expansion factors making them suitable for use in numerous applications particularly electrical & electronics and printing.
• Paper- Paper backed specialty tapes provide suppleness and can be easily stretched. Paper tapes can be made using material such as kraft, crape, and recyclable paper. Paperbacked tapes offer superior benefits which include eco-friendliness, wide color range, good holding power, and good heat insulation.
• Metal - Metal backed tapes offer unparalleled electric conductivity and the ability to withstand high temperatures. They are widely used in electronic appliances and electric equipment to act as heat barriers.
• Glass- Glass backed tapes are employed in high stress and temperature environments due to their abrasion resistance, high tensile strength, and high-temperature resistance properties.
• Polypropylene and Polyethylene- Polypropylene and Polyethylene backed specialty tapes offer excellent tear and abrasion resistance and provide bonding at low temperatures.
• Polyester- Polyester backed tapes are durable and have extreme chemical resistance while being flexible, which makes them suitable for use in numerous applications which includes electronic appliances and printing & laminating industries.
• Others- The segment includes proprietary film, ionomer, industrial protective film backed specialty tapes.

By Application: Based on application, the global specialty tapes market can be segmented into electrical & electronics, healthcare, automotive, consumer goods, paper & printing, building & construction, retail & graphics, aerospace & defense, marine, and others.

• Electric and electronics- Electrical & electronics segment accounted for the largest share of the global specialty tapes market in 2018 and is expected to grow at a significant CAGR during the review period. The market growth can be attributed to the superior properties of the specialty tapes. Expanding electrical and electronics industry with increased spending on portable consumer electronics and white goods coupled with rising per capita disposable income and changing living standard.
• Healthcare- Healthcare was the fastest-growing segment in 2018 owing to rapid growth of the healthcare industry in the developing market coupled with growing aging population and rising hygiene awareness.
• Automotive- Automotive segment accounted for around 14% share of the specialty tapes market. Growing automotive production in the developing economies is expected to boost the market growth in the coming years.
• Consumer Good- Rapid growth of the fast-moving consumer goods industry as a result of easy access and changing lifestyle is likely to propel the market growth.
• Paper & Printing- Growth of the retail sector is driving the demand for packaging materials and thus, printed papers. Thus, expanding packaging industry is likely to support the market growth at a healthy rate.
• Building & Construction- Expanding building & construction industry with increased spending on residential construction activities across the globe is bolstering the market growth.
• Marine- Marine segment accounted for the least share of the global specialty tapes market owing to less concentration of tapes in boats.
• Aerospace & Defense- The demand for specialty coatings is likely to increase in the aerospace & defense industry with increased spending on defense equipment and aircraft.
• Retail & Graphics - Growing retail industry together with increased spending on innovative packaging by the product manufacturers in order to gain a competitive edge is likely to drive the growth of the specialty tapes market.

Precious Metals Market Statistics Exclusive Report Study with Forecast to 2027

The global precious metals market is expected to grow smoothly over the forecast period due to the growing industry as well as luxury applications of precious metals. The growing demand for jewelry is likely to be the major driver for the global precious metals market over the forecast period, with the growing demand for precious metals in other industrial applications also likely to play a key role in the growth of the global precious metals market.

The jewelry application of precious metals is likely to take up the majority share in the global precious metals market over the forecast period. Traditional gold and silver mining operations are prevalent in major jewelry producing countries in the world, while the growing disposable income of consumers in developing parts of the world has also driven up the demand for precious metals in recent years. The growing demand for gold and silver jewelry as a financial investment, driven by the growing instability of the financial pyramid, is likely to play a key role in the global precious metals market’s growth over the forecast period.

Increasing industrial applications of precious metals outlook are also likely to play a major role in the growth of the global precious metals market over the forecast period. The demand for gold and silver in semiconductor and electronics applications has grown over the last few years, as the demand for premium electronics that can be relied upon for unproblematic operation has risen due to the growing computerization of military and government protocols. The growing use of palladium and platinum in catalytic converters in automotive applications is also likely to drive the global precious metals market over the forecast period, as pollution control has become a major topic for the automotive industry around the world.

Segmentation:

The global Precious metals market Statistics has been segmented on the basis of type, application, end-use industry, and region.

Based on type, the global precious metals market has been segmented into gold, silver, and platinum group metals. The platinum group metals segment is further divided into platinum, palladium, ruthenium, rhodium, osmium, and iridium. The global precious metals market is almost evenly divided between the three segments, with gold holding a slight dominance with a 37% share in 2020.

By application, the global precious metals market has been classified as jewelry, investments, semiconductors, dentistry, computer parts, cutlery, photography, and others. Jewelry and investments are likely to remain two of the leading applications in the global precious metals market over the forecast period.

On the basis of end-use industry, the global precious metals market has been segmented into electronics, medical, automotive, aerospace, oil and gas, and others.

Regional Analysis:

Asia Pacific dominates the global precious metals market due to the high demand for gold and silver jewelry and the rising interest among consumers in stocking up on precious metals as an investment. China is the leading producer and consumer of gold and is likely to hold on to the position over the forecast period, as personal as well as industrial demand for precious metals grows at a steady rate. Japan, Australia, Singapore, and New Zealand are also likely to play a major role in the global precious metals market’s development over the forecast period.

The North America market is expected to exhibit the highest growth rate over the forecast period due to the growing mining operations in the country and the rising demand for precious metals in semiconductors and electronics applications.

Latin America also holds a significant share in the global precious metals market thanks to the presence of large stockpiles of precious metals in the region, with Brazil emerging as the leading contributor to the regional market in 2020.

Competitive Analysis:

Leading players in the global precious metals market include Hycroft Mining Corporation, Barrick Gold Corporation, GOLDCORP Inc., Lonmin plc, Russian Platinum, Pan American Silver, Sumitomo Metal Mining Co. Ltd., Asahi Refining, Norilsk Nickel, Newmont Mining Corporation, Kinross Gold Corporation, Freeport-McMoRan, and Anglo American.

In March 2019, gold prices suffered the largest single-session percentage fall since last August, ending up below the USD 1300 mark for the first time in two weeks. Fluctuations in precious metal prices could play an important role in the development of the global market over the forecast period.

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