According to Future Market Insights research findings, the global mastic tapes market is on a steady growth trajectory, projected to reach a valuation of US$ 344.1 million by 2023 and further expand at a CAGR of 3.2% to reach a substantial valuation of US$ 471.5 million by 2033. Notably, the sales of mastic tapes are expected to receive a substantial boost, with the top 5 countries accounting for approximately 25-30% of the market share by the end of 2023.
Leading the charge in the global mastic tapes market in 2023 is the butyl mastic tape, primarily due to its easy availability of raw materials and remarkable packaging barrier properties. This underscores its significance in various industries where sealing and protection are paramount.
Mastic tapes are useful at building sites because of their ability to resist dust, which is a common occurrence there. Mastic tapes have the ability to dampen vibration, which eliminates the excessive vibration brought on by machinery at industrial area production sites. The high adhesion of mastic tapes makes them perfect for use on machines with rough and uneven surfaces.
Mastic tapes are very simple to use and tear, which reduces wastage that occurs when removing the necessary amount of tape from the roll. Mastic tapes are anticipated to enjoy high preference over the projection period as a result of these qualities. As a result, for the following 10 years, the outlook for mastic tapes globally is anticipated to be favorable.
Request a Report Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-5970
Global mastic tapes market: Dynamics
Mastic tapes market is driven by wide application of mastic tapes for electrical insulation. It acts as a perfect barrier for electrical leakage, as lots of damage is caused due to electric leakage from transmission lines. Mastic tapes find application in high tension lines in electrical and electronics industry, thus acts as a key driver for mastic tapes market.
Corrosion resistant feature of the mastic tape makes it suitable to be used on high rust accumulation areas. The long life of mastic tape eliminates the maintenance cost involved, in the regular application of tapes. Mastic tapes are resistant to Ultraviolet radiations, thus a value-added the feature of mastic tapes, and acts as a catalyst to increase the growth of mastic tapes market.
They show high adhesion properties on cables insulation, metal, plastics and other surfaces thus mastic tapes are widely used in industries, therefore industrial sites require high demand for mastic tape and act as a driver for mastic tapes market. Mastic tapes have high-temperature resistance properties, it can bear its properties up to 80-degree centigrade, thus makes them applicable for cable splice.
They can also sustain at low temperature thus, applicable for both high and at low-temperature areas. Mastic tapes have shelf healing property, thus damage to the tape, due to wear and tear, is self-heal that maintains its insulating properties, this feature differentiates it from another tape, and thus it is preferred the choice of the consumer.
Global mastic tapes market: Regional Overview
Global mastic tapes market is segmented into seven regions including North America, Latin America, Eastern Europe, Western Europe, Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan. Europe region shows constant growth for mastic tapes market, however, an increase in demand for mastic tapes due to high insulating property and value-added features, is expected.
As a result, industrialists are preferring them over adhesive tapes, thus mastic tape market shows growth in the region. Due to the high consumption rate of adhesive material in the emerging market manufacturers of mastic tapes in North America and Europe region are focusing towards investing in the new plant sites in Asia pacific region.
The region is expected to represent ample growth opportunities for growth of the mastic tapes market, in the forecast period.
Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-5970
Global mastic tapes market: Key Players
Some of the key players of global mastic tapes market are 3M Company, Denso North America Inc., Osaka Rubber Private Limited, and Omega Rubber Industries.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Ask An Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-5970
Global mastic tapes market: Segmentation
On the basis of material type:
- Vinyl Mastic tapes
- Butyl Mastic tapes
- Grade Vinyl (PVC) Mastic tapes
On the basis of application type:
- Cable splice
- Ground rods
- Lighting connections
- Others
On the basis of end use industry:
- Industrial
- Construction industry
- Automotive industry
- Electrical and electronics industry
- Others
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube