During the projected period, the market for pipe marking tape is anticipated to register a moderate CAGR of 9.8%. The market is now valued at US$ 2.93 billion, and by 2032, it is anticipated to grow to US$ 6.91 billion. The best materials are used to make pipe marking tape, which is also available in a variety of pipework-specific colours for identification.
These materials include paper, plastic, foam, and other outstanding quality materials that guide usage. The incredible amount of use it receives across numerous industries boosts pipe marking tape sales. With the development of many industries’ technical infrastructures, so does need for pipe marking tape.
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The Global Pipe Marking Tape Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2022 to 2030.The Global Pipe Marking Tape Market report provides a holistic evaluation of the market for the forecast period (2022-2030). The report comprises of various segments as well an analysis of the trends and factors that are playing a substantial role in the market.
These factors; the market dynamics, involves the drivers, restraints, opportunities and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Pipe Marking Tape Market study provides an outlook on the development of market in terms of revenue throughout the prognosis period.
What are the Key Drivers and Restraints to the Pipe Marking Tape Market?
Pipe marking tape is made of top-quality raw materials, including paper, plastic, foam, and other exceptional quality materials that guide the usage and come in different pipework-specific colors for identification. Its use in various industries is phenomenal, increasing the sales of pipe marking tape. Demand for pipe marking tape also rises with the technological advancements of industries.
The color code printed pipe marking tapes carry an identification symbol or text, denoting the flow direction, water temperature, and the nature of the liquid if it’s carrying hazardous chemicals. These color codes help the end user in segmenting the pipes on the basis of the liquid’s nature that it carries, increasing the demand for pipe marking tapes.
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How’s the Competitive Landscape in Pipe Marking Tape Market?
The key players of the Pipe marking tape market are focusing on. The competitors also focus on factors like product launches, partnerships for better access to distribution channels. Companies also work on the grip, industry specific sizes and easy to apply formula that drives the demand for Pipe marking tape business. This drives the sales of Pipe marking tape.
Key players in pipe marking tape market include
- 3M Company,
- Brady Worldwide Inc,
- Windmill Tapes & Labels Ltd,
- Marking Services Inc,
- Industrial Adhesive Solutions Limited,
- Limpet Tapes Limited,
- Florida Marking Products LLC,
- Symbio Inc,
- ITO YOGYO CO LTD and
- Can-Do National Tape
Recent Market Development
- 3M has started opening its production facilities and offices with a moderate workforce to drive recover from the covid-19 impact and drive the sales of pipe marking tape.
- Windmill Tapes & labels ltd has completed 40 years in the pipe marking tape industry and has introduced its upgraded series of printed and paper tapes including Vinyl Tapes, refuse sacks, Gum paper tapes etc. This gives a push to the sales of pipe marketing tapes.
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