Surface Protection Tapes Market by Type (Polyethylene, Polypropylene, Polyvinyl chloride), Surface Material (Polished metals, Glass, Plastic) End-use (Electronics & appliances, Building & construction, Automotive), and Region - Global Forecast to 2024
“The wide acceptance of the surface protection tapes across various end-use industries is projected to drive the overall growth of the surface protection tapes market across the globe from 2019 to 2024.”
The surface protection tapes market is projected to grow from USD 12.3 billion in 2019 to USD 18.0 billion by 2024, recording a CAGR of 8% during the forecast period. The growth of the end-user industries such as automotive & transportation, electrical & electronics, and building & construction are the key factors driving the growth of the surface protection tapes market. However, factors such as high raw material costs inhibit the growth of the surface protection tapes market.
In terms of value and volume, the polished metals segment is projected to be the fastest-growing segment during the forecast period.
The polished metals segment is the largest as well as the fastest-growing segment and is projected to grow at the highest CAGR from 2019 to 2024. Polished metals are widely used to manufacture a range of products, and these surfaces may require protection from scratches and damages incurred during the manufacturing, assembling, transportation, and storage activities. The growth of this segment is attributed to the demand for these tapes in various end-use industries such as building & construction (for curtain walls, building panels, and coil coatings) and automotive (for the vehicle parts).
The electronics & appliances segment to dominate the surface protection tapes market from 2019 to 2024, in terms of both value and volume.
The electronics & appliances segment is projected to dominate the surface protection tapes market from 2019 to 2024, in terms of both value and volume. Surface protection tapes for electronics use ultra-low and very low types of adhesives to protect delicate substrates that are used in the fabrication of the devices. Low to moderate adhesion surface protection tapes are used post manufacturing as they are more durable. These tapes are used as a screen protector for display panels. With the increasing growth rates for the electronics industry, the demand for surface protection tapes is likely to grow in this industry.
In terms of both value and volume, the Asia Pacific surface protection tapes market is projected to witness high growth during the forecast period.
In terms of both value and volume, the Asia Pacific surface protection tapes market is projected to grow at the highest CAGR from 2019 to 2024. High economic growth and increasing standards of living along with the rapid urbanization are increasing the infrastructural development in the region. Further, the growth in the construction industry of the region has increased the number of construction projects, which indirectly drives the demand for surface protection tapes in this region.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the surface protection tapes market.
By Company Type: Tier 1: 28%, Tier 2: 29%, and Tier 3: 43%
By Designation: M-level: 82% and D-level: 18%
By Region: Asia Pacific: 45%, North America: 15%, Middle East & Africa: 25%, Europe: 10%, and South America: 5%
The surface protection tapes market comprises major manufacturers such as Berry Global Inc. (US), DowDuPont (US), Intertape Polymer Group (Canada), Compagnie de Saint-Gobain S.A. (France), Nitto Denko Corporation (Japan), Toray Industries, Inc. (Japan), Tesa SE (Germany), Chevron Phillips Chemical Company (US), Avery Dennison (US), and 3M (US).
The market study covers the surface protection tapes market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on the type, surface material, end-use, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the surface protection tapes market.
Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers in the overall surface protection tapes market and its segments and subsegments. This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping the stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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