Dubai, United Arab Emirates, January 27, 2022 (GLOBE NEWSWIRE) – The Thermoplastic strips market estimated 2.2 billion USD In 2022 it is expected to reach 3.0 billion US dollars By 2029, at a compound annual growth rate of 4.7% 2022 – 2029. New Research Report by Future Market Insights (FMI) on Thermoplastic Films Market includes analysis of the global industry 2014 – 2021 and assessment of opportunities 2022 – 2029. The report researches the Thermoplastic Films market and provides important insights for the forecast period from 2022 – 2029. .
As per the findings of the report, the global thermoplastic tape market is expected to witness significant growth during the forecast period. The lower cost and effective performance of thermoplastic tape in automotive component manufacturing is expected to drive the market growth in the coming years.
In addition to improving the visual appearance of auto parts, diversification in the use and consumption of thermoplastic tape in various end-use segments including the aerospace and building and construction industry is likely to drive market growth in the next ten years.
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|Market size 2022||2.2 billion USD|
|Market size 2029||3.0 billion US dollars|
|Compound annual growth rate of value (2022-2029)||4.7%|
|Collective Value Share: Big 3 Countries (2022E)||45.7%|
Manufacturers anticipate profitable opportunities in East Asia
Europe will continue to hold a prominent share in the thermoplastic tape market. However, high growth opportunities are expected in East Asia in 2021 and beyond. China is expected to represent a high growing opportunity and maximum growth rate in the region. With growing environmental concerns, the country’s government is constantly imposing regulations to reduce dependence on fossil fuels, which has led to an increased adoption of vehicles in the automobile and aircraft industries. As a result, thermoplastic tape is likely to gain significant traction in East Asian countries.
Industry Leader Perspective:
According to the Vice President of Research and Development at Arkema – the leading player in the thermoplastic tape market, car manufacturers in Europe are focusing on developing lighter vehicles by replacing metal components with vehicles, in order to achieve a carbon emissions ceiling for new cars that will drop from 130g to 95g grams per kilometer by 2020. The company’s thermoplastic is set to be a part of this solution, by providing lightweight, efficient and recyclable properties.
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The PAEK resin family is still a favorite material
- Depending on the thickness, 0.21-0.40mm thermoplastic tape is expected to occupy an outstanding value share in the market. Although it is still the most common thickness range used in end-use industries, manufacturers are likely to focus on offering a varying range of thicknesses to maintain demand for different applications.
- On the basis of materials, PAEK is a resin family widely used in thermoplastic tape, followed by polyamide resin. According to the manufacturers, high-quality compounds are formed when these materials are combined with carbon or glass fibers. However, carbon fiber reinforced provides more strength for thermoplastic tapes than glass fiber reinforced.
- Through the end-use industry, heavy adoption by the auto industry will continue to generate relatively high sales.
|Historical data available for||2022-2029|
|market analysis||One million US dollars of value and one million square metres. for size|
|Main areas covered||North America, Latin America, Europe, the Middle East, Africa, East Asia, South Asia, Oceania|
|Main countries covered||United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, Turkey, South Africa, GCC countries, Japan, South Korea, India, China, Australia|
|Main parts covered||Thickness, material, end use and area|
|An overview of the main companies|| • Evonik Industries AG
• Toray Advanced Composites
• Solvay S
• Mitsui Chemical Company
• Arkema SA
• Teijin Co., Ltd.
• Covestro AG
• Royal DSM NV
• SABIC Company
• MaruHachi . Company
• Supreme Sa
• Shanghai Topolo New Material Co., Ltd.
• SGL Carbon SE
• CompTape BV
• Company Avient
|Report coverage||Market forecast, company share analysis, competition intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives|
Thermoplastic Tape Market: Vendor Insights
The report highlights the prominent market players who have proven themselves as market leaders in the global Thermoplastic Elastomer Tapes market. Some of the major players operating in the global market are Evonik Industries AG and Toray Industries Inc. and Solvay SA, Teijin Ltd, and Mitsui Chemicals Inc. and Sabic Corporation, among others.
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The global Thermoplastic Elastomer Tape market is consolidated with some market players retaining prominent market share. Manufacturers in the thermoplastic tape market are investing in expansions and mergers to expand their product range as well as their foothold in the market.
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Fabric Self Adhesive Tapes Market – Fabric tapes have been widely used across heavy duty engineering applications for decades. Fabric self-adhesive tapes find application in end-use such as logistics, electrical and electronics, health care, etc. These tapes are generally strong and inherently non-corrosive.
Film tape market – The increasing demand for a better ad closure solution in the packaging industry to the world of manufacturers (eg electronics) of various industries is leading to an increase in the use of film tape market.
Nano tapes market – The increasing demand for adhesive 10 times more than lizard feet for better packaging led to the invention of nano tapes and nowadays they are a very popular commodity for a wide range of uses that include packaging, sealing, labeling, electrical insulation, stationery and applications other public.
Imitation Tape Market – Rapid urbanization has supported the construction industry across the globe and has positively influenced the growth of the residential, commercial and industrial construction sectors resulting in the growth of the imitation tape market.
Washi Tapes Market – Rising growth of some industries has led to increased demand for infrastructure development and construction sectors with additional business solutions generating indirect profits in the washi tapes market.
Protective Films Market – This market study provides a comprehensive analysis of business models, key strategies, and market shares of some of the most prominent players in this landscape.
Spacer Tapes Market The Spacer Tapes market is set to experience healthy growth from 2021 to 2031 at a compound annual growth rate of 5% to 7%. The demand from various industries in order to reduce labor costs for industrial packaging creates a greater number of opportunities for the market.
Plastic Tapes Market – The plastic tapes market is expected to expand at a compound annual growth rate of 4-6% between the forecast period. It is estimated that electrical grid modernization and increased penetration of consumer electronics worldwide will witness enthusiastic growth in PVC tape market in the upcoming evaluation period.
Tabbing Tapes Market Global demand for tabbing tapes is estimated to increase 4.5% year-over-year, defying initial uncertainties about how the market will perform during a global pandemic.
Bonding Tape Market Demand from paper, printing and packaging industries is expanding at a rapid pace, due to the increasing worldwide publishing and digital printing industry, other critical factors are the driving factors for the bonding tapes, the market is expected to show a CAGR of 2 to 3% in Expected period 2021-2031.
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