The self-fusing silicone tapes market is projected to reach USD 1,106 million by 2032, with an estimated CAGR of 4.2% from 2022 to 2032. In 2022, the market is valued at USD 736 million, accounting for around 1.0%-2.0% of the global adhesive tapes market worth approximately USD 63 billion.
Despite the stagnant sales experienced during the COVID-19 pandemic, the demand for self-fusing silicone tapes is expected to gradually surge from 2021 onwards, particularly in the electrical and electronics segment, which is forecasted to reach USD 326 million in 2022. This segment is projected to expand at a CAGR of 4.6% over the forecast period.
According to the Annual Market Analysis conducted by Future Market Insights (FMI), the rectangular tape and triangular tape segments in the self-fusing silicone tapes market are estimated to have a cumulative worth of USD 540 million in 2022.
The dynamics of the self-fusing silicone tape market are influenced by various industry factors, including price considerations as self-fusing silicone tapes tend to have higher prices compared to other types of tapes. Recent advancements in the market include the use of premium quality silicone elastomers and silicone compounding technology.
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FMI’s analysis suggests a decline of 30 basis share points (BPS) in the self-fusing silicone tapes market in H1-2022 compared to H1-2021. However, when comparing the projected H1-2022 and H1-2022 outlook period, a decrease of 20 BPS in the growth rate has been observed.
This change is attributed to the lower tear resistance and increased susceptibility to cuts and abrasion of silicone tapes compared to other electrical and utility tapes. Nevertheless, the increasing usage of tapes in the electrical and construction industry is expected to drive the growth of the self-fusing silicone tape market.
- The self-fusing silicone tapes market is projected to reach USD 1,106 million by 2032, with a CAGR of 4.2% from 2022 to 2032.
- In 2022, the market represents around 1.0%-2.0% of the global adhesive tapes market valued at approximately USD 63 billion.
- The electrical and electronics segment is expected to drive the demand for self-fusing silicone tapes, reaching USD 326 million in 2022 and expanding at a CAGR of 4.6% over the forecast period.
- The rectangular tape and triangular tape segments are estimated to have a cumulative worth of USD 540 million in 2022.
- The market dynamics are influenced by industry factors and price considerations due to the relatively higher prices of self-fusing silicone tapes.
- Recent advances in the market include the utilization of premium quality silicone elastomers and silicone compounding technology.
- FMI’s analysis indicates a decline of 30 BPS in the self-fusing silicone tapes market in H1-2022 compared to H1-2021, with a decrease of 20 BPS in the projected H1-2022 outlook period.
- The lower tear resistance and increased susceptibility to cuts and abrasion of silicone tapes compared to other tapes impact the growth rate, but the electrical and construction industries continue to drive market growth.
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“Key manufacturers of self-fusing silicone tapes are focusing on product innovation and technological integration which can allow scale of production resulting in quality product for a lower cost. This is likely to attract customers as it balances the cost and value. Organizations are also partnering and collaborating with other players in the market to tap potential markets by penetrating deeper into the filament tapes market. This enhances brand value and increase market share in the self-fusing silicone tapes market.” says an FMI analyst.
Self-Fusing Silicone Tapes Market By Category
By Thickness :
- Up to 0.25mm
- 0.26mm to 0.50mm
- 0.51mm to 0.75mm
- Above 0.75mm
By Product Type :
- Rectangular Tapes
- Triangular Tapes
- Sinusoidal Rectangular Tapes
By End Use :
- Electrical & Electronics
- Home & Garden
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Future Market Insights Inc.