The duct tape market is anticipated to experience consistent growth, with an average compound annual growth rate (CAGR) of 5.1% between 2022 and 2032. This growth can be attributed to several factors that drive the demand for duct tape across various industries and among different consumer groups.
The construction industry plays a pivotal role in the expansion of the duct tape market. Duct tape is widely utilized in construction for sealing, bonding, and temporary repairs. As the construction sector continues to grow, there will be an increased demand for duct tape as a reliable adhesive solution.
Additionally, the automotive industry contributes to the rising demand for duct tape. Duct tape is commonly used in automotive repair and maintenance tasks due to its strong adhesive properties and durability. With advancements and growth in the automotive industry, the demand for duct tape is expected to further increase.
Furthermore, the growing popularity of DIY projects among consumers is driving the demand for duct tape. DIY enthusiasts and hobbyists utilize duct tape for crafts, repairs, and creative endeavors. The accessibility and versatility of duct tape make it a preferred adhesive solution for many DIYers.
Considering these factors, the duct tape market is projected to grow at a CAGR of 5.1% and reach a market value of $7.27 billion by 2032. The continuous expansion of the construction industry, the increasing demand from the automotive sector, and the growing acceptance of DIY projects are expected to drive the ongoing growth of the duct tape market in the coming years.
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Market Benefits
- The study provides an in-depth analysis of the global Duct Tapes Market along with the current trends and future estimations to elucidate the imminent investment pockets.
- The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
- An extensive analysis of the market based on application assists in understanding the trends in the industry.
- The report presents a quantitative analysis of the market from 2022 to 2032
- to enable stakeholders to capitalize on the prevailing market opportunities.
Competitive Landscape: Asia Pacific Sachet Packaging Market
- 3M Company
- Intertape Polymer Group Inc.
- Shurtape Technologies, LLC
- Berry Global Group Inc.
- Pro Tapes & Specialties, Inc.
- Nadco Tapes & Labels, Inc.
- MBK Tape Solutions
- International Plastics Inc.
- CS Hyde Company
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Regional Landscape:
- North America
North America holds 90% of the market share, and where the USA is projected to become the most attractive market for duct tape due to the growing building & construction industry. According to the Associated General Contractors of America (AGC), in 2019, the contribution of the USA construction industry was 4.1% of the total USA GDP. Also, construction spending in the USA is significantly high.
- Germany
Germany accounts for the leading share in the Europe duct tapes market. It is anticipated to hold around 20% of the Europe market share by the end of 2031. The exponential growth of the electrical & electronic industry in Europe will continue augmenting the sales of duct tape.
- India
India is forecasted to hold 45% of the South Asia duct tape market by the end of 2032. The Indian automotive industry is projected to emerge as the third-largest industry in the world in the coming years. Also, government support and policies related to the manufacturing of automobile products are encouraging production within the industry.
- China
The Chinese market for duct tape is likely to expand at double speed. The current market value in the next ten years, along with creating an incremental opportunity for US$ 450.9 Million. China holds dominance in the East Asia duct tape market and will continue leading through the course of the assessment period.
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Key Segments
By Product Type:
- Removable Duct Tapes
- Professional Grade Duct Tapes
- Utility Duct Tapes
- Specialized High Strength Duct Tapes
By Adhesive Type:
- Natural Rubber based Adhesives
- Synthetic Rubber based Adhesives
By Backing Type:
- Plastic
- Polyethylene
- Polyvinyl Chloride
- Polyester
- Foil
- Cloth
By Application:
- Sealing
- Repairing
- Holding
- Waterproofing
- Coding
- Strapping
- Splicing
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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.
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