In 2022, the gaffers tape market is estimated to reach a value of US$ 1.73 billion, with projections indicating that it will exceed US$ 3.73 billion by 2032. Throughout the forecast period, sales of gaffers tape are anticipated to maintain a stable growth trajectory, with a consistent Compound Annual Growth Rate (CAGR) of 8%.
The global gaffers tape market is geographically divided into North America, Latin America, Europe, Asia-Pacific (APAC), and the Middle East & Africa (MEA). Over the forecast period from 2017 to 2027, the global gaffers tape market is anticipated to experience a substantial Compound Annual Growth Rate (CAGR).
Asia-Pacific (APAC) takes the lead in the global gaffers tape market and is expected to maintain its dominance throughout the forecast period. This is attributed to the burgeoning construction industry, driven by population growth, government infrastructure development plans, and urbanization in the region. Additionally, the ready availability of raw materials like PVC and polypropylene in China is poised to boost demand for gaffers tape in the APAC region.
North America is expected to trail behind APAC in the gaffers tape market during the forecast period. This is influenced by the region’s diverse industrial sectors, strong economy, and the use of gaffers tape in various applications, contributing to steady market growth.
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Gaffers Tape Market – Major Players
Some of the major players identified across the globe in the Gaffers Tape market are
- Henkel AG & Co., KGaA,
- 3M Company,
- The Dow Chemical Company,
- Avery Dennison,
- Ashland Inc.
- H.B Fuller.
- Construction Industry Growth: The construction sector plays a pivotal role in driving the gaffers tape market, as it is widely used for temporary fixtures, securing cables, and marking areas during construction and renovation projects.
- Entertainment and Events: Gaffers tape is a staple in the entertainment and event industry, used for securing cables, marking stages, and creating temporary markings. The growth of events, festivals, and the entertainment industry fuels demand.
- Film and Television Production: Gaffers tape is essential on film and television sets for various applications, from securing equipment to marking positions. The growth of the media industry contributes to demand.
- Versatility and Durability: Gaffers tape’s unique combination of strength, durability, and residue-free removal makes it a popular choice for a wide range of applications, including arts and crafts.
- Safety and Accessibility: The emphasis on safety in workplaces and public spaces drives the use of gaffers tape for cord and cable management to prevent tripping hazards.
- E-commerce and Retail: The growth of e-commerce and retail drives demand for packaging and logistics solutions, and gaffers tape is used for secure packaging and sealing of shipments.
- Sustainability: With increasing environmental awareness, there’s a shift towards eco-friendly and sustainable gaffers tape options, contributing to market dynamics.
- Customization and Branding: Gaffers tape is often customized with branding, colors, and patterns, offering a unique marketing tool for businesses.
Gaffers Tape Market – Market Dynamics
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Regional Analysis includes
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & 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.
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