According to the latest industry report published by Future Market Insights (FMI), the global volume of barricade tape is expected to surpass 1,000 Mn Sq. Mt. in 2021.
The overall barricade tape market is expected to reach US$ 1.67 Bn by 2031, growing at a CAGR of 4.6% between 2021 and 2031. FMI also has projected the competition to accelerate with top 5 providers holding 15-20% of barricade tape market in 2021.
All those social and employee welfare organizations are mandating the use of barricade tape in companies, organizations and medium-sized workplaces where no standard safety protocols are being followed.
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In addition to that, as a part of safety measures at places where the harmful and flammable goods are stored, those places require proper safety marking and labelling by barricade or security tapes.
Different coloured barricading tapes are manufactured by key players for indication of different types of dangers or hazards. Also, different types of printed tapes are used to alert people to various types of hazards.
For instance- red/white coloured tape for fire prevention & protective equipment, yellow/black coloured tape for caution, and red coloured tape for serious hazards and dangers.
Key Takeaways from Barricade Tapes Market
- Barricade tapes with a thickness ranging from 6 to 8mm is expected to record growth at 5% CAGR between 2021 and 2031. Barricade tapes with medium thickness offer cost-effective, durable and lightweight soft barricading solutions for end-use industries across the globe.
- Expansion of building & construction industry across the U.S. will offer a total incremental opportunity of US$ 140 Mn over the next decade.
- Easy availability, flexibility and hassle-free production process makes plastic as most preferred material by barricade tapes manufacturers across the regions. Plastic barricade tape is expected to account for 60% share in 2021.
- Sales of barricade tapes used in industrial end users are anticipated to exhibit growth at 5% CAGR between 2021 and 2031, on the back of favourable stringent regulation for safety of employees and labor.
- Germany is expected to be the largest market for barricade tapes in Europe accounting for almost 20% market share in 2021.
“Upgradation of workplace safety laws, along with the expansion of end-use industries such as automotive, construction, mining, and manufacturing will result in increased demand for barricade tapes across the globe. Moreover, producers of barricade tapes are developing sustainable tapes to woo environmentally conscious consumers across the globe,” says FMI analyst.
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Increasing Popularity of Custom-built Barricade Tapes Showcases Intrinsic Growth Potential
In the modern-day, customized products and services are witnessing exponential growth, as people are more attracted towards a product or solution specifically designed to fulfil their needs. Customized products are more in demand as these products are tailor-made as a solution to existing problems faced by end-user industries.
Major manufacturers operating in the global barricade tapes market are eyeing various differentiation strategies to gain competitive edge and maintain dominance in the market. To offer unique versions of barricade tapes, these companies are offering a variety of customized options to end-user industries, in which clients choose the design, material, color and text written on the barricade tapes as per their needs.
Competitive Landscape
Key players operating in barricade tape market are focusing on untapped markets to capitalize on lucrative growth opportunities offered by developing and under developed regions.
Also these players are coming up with sustainable barricade tape that are environment friendly, to attract concerned consumer bases.
- In June 2021, Intertape Polymer Group Inc. announced the acquisition of Nuevopak Global Limited for US$ 40 Mn to strengthen its packaging machines portfolio.
- In January 2019, Tesa SE announced the expansion of its production facility in Suzhou, China, by investing more than US$ 35 Mn, which includes the creation of a clean-room production unit and will provide expanded production capabilities to special adhesive tape.
Barricade Tapes Market Landscape
Some of the key players dominating the global barricade tapes market are
- 3M Company,
- Shurtape Technologies, LLC,
- Brady Corporation,
- Scapa Group PLC,
- Tesa SE,
- Surface Shields, Inc.,
- Advance Tapes International Ltd.,
- Vibac Group S.p.a.,
- Mutual Industries, Inc.,
- Custom Tape Ltd,
- Intertape Polymer Group Inc.,
- Yuyao Laisifu Houseware Co., LTD,
Nitto Denko Corporation, Ningbo Teagol Adhesive Industry Co., LTD and MAS Corporation.
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How has Covid-19 Impacted Global Barricade Tape Market?
Unprecedented outbreak of COVID-19 pandemic hampered the sales of barricade tapes. Disruption of supply chains as a result of lockdown regulations imposed by governments dampened the sales prospects.
Only the production and distribution of medicinal supplies and food & beverage products was allowed under strict guidelines. Hence, sales of barricade tapes were largely impacted as the manufacturing and building & construction activities were under complete shut down during the FQ-20.
However, with expedited vaccination drives and resumption of construction and mining sector, expansion of end-use industries will ensure intrinsic growth for barricade tape market through 2021 & beyond.
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