Thermoplastic Tape Market to Reach USD 3.0 Billion by 2029, Fueled by Increasing Applications in Automotive, Aerospace, and Construction Industries.

The thermoplastic tapes market is projected to reach USD 3.0 billion by 2029, with an estimated CAGR of 4.7% from 2022 to 2029. In 2022, the market is valued at USD 2.2 billion, accounting for approximately 23.9% of the adhesive tapes market worth USD 73.6 billion.

The study conducted by Future Market Insights (FMI) suggests that the thermoplastic tapes market will expand 1.4 times its base year value during the forecast period, presenting lucrative investment opportunities for manufacturers. Global consumption of thermoplastic tape is expected to grow at a year-on-year (YoY) rate of 4.5% between 2022 and 2023.

The resin segment is projected to hold a market share of 52.6% by 2029, while the fiber segment is anticipated to grow at a CAGR of 5.0% during the forecast period. The European region is expected to be the leading market for thermoplastic tapes, holding a prominent market share of 27.7% in 2022. On the other hand, the East Asia thermoplastic tapes market is projected to expand at a CAGR of 7.1% over the forecast period.

According to FMI’s analysis, the dynamics of the thermoplastic tapes market are influenced by various industry factors and advancements in processing technology, including the increasing prominence of 3D printing. The market is expected to witness a 30 basis share points (BPS) surge in H1-2022 compared to H1-2021, and a 20 BPS increase in the projected H1-2022 outlook period.

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This growth rate change can be attributed to the rising use of thermoplastic tapes in different end-use industries, driven by their damage resistance, strength, rigidity, and flexibility. Moreover, the high recyclability of thermoplastic tapes contributes to increased sustainability, further fueling their demand.

Key Takeaways:

• The thermoplastic tapes market is estimated to reach USD 3.0 billion by 2029, with a CAGR of 4.7% from 2022 to 2029.
• In 2022, the market constitutes approximately 23.9% of the adhesive tapes market, valued at USD 73.6 billion.
• The global consumption of thermoplastic tape is expected to grow at a YoY rate of 4.5% between 2022 and 2023.
• The resin segment is projected to hold a market share of 52.6% by 2029, while the fiber segment is anticipated to grow at a CAGR of 5.0% during the forecast period.
• The European region is expected to have a prominent market share of 27.7% in 2022, while the East Asia market is projected to expand at a CAGR of 7.1%.
• Advancements in processing technology, including the increasing prominence of 3D printing, are driving market growth.
• The thermoplastic tapes market is experiencing a 30 BPS surge in H1-2022 compared to H1-2021, and a 20 BPS increase in the projected H1-2022 outlook period.
• The demand for thermoplastic tapes is driven by their damage resistance, strength, rigidity, flexibility, and recyclability, contributing to increased sustainability.