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Rising demand from electrical & electronics and building & construction industries is a significant factor driving global waterproof tape market revenue growth

VANCOUVER, BC, CANADA, November 7, 2022 /EINPresswire.com/ -- The global waterproof tape market size is expected to reach USD 23.81 Billion in 2030 and register a steady revenue CAGR of 6.9% over the forecast period, according to latest analysis by Emergen Research. Waterproof tape market revenue growth  is primarily driven by factors such as rising demand from electrical & electronics and building & construction industries. Waterproofing tapes are used to stop water from entering building structures and are highly preferred owing to their excellent performance in terms of water ingress and ease of use. Waterproof tape is also increasingly being used in electrical and electronic applications to prevent mishaps caused by water coming into contact with electricity and prevent water damage to electronics. A recent trend in the market is use of self-adhesive sealant waterproof tape. With the use of simple materials and low labor expense self-adhesive sealant tape, leaks on flat or pitched roofs can be swiftly stopped.

Emergen Research’s latest market research report focuses on the global waterproof tape market, and the report provides in-depth analysis of each of its major segments. Reports about the global waterproof tape market provide a comprehensive overview of the market, including market size, revenue growth rate, industry statistics, revenue shares among regional markets, gross profits, production costs, and product portfolios. The report also highlights the most important factors influencing industry revenue growth, including drivers, opportunities, trends, restraints, challenges, demand and supply ratios, production and consumption patterns, strict regulatory frameworks, and a multitude of micro-economic and macro-economic factors.

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Some Key Highlights From the Report

The silicone segment is expected to register a rapid revenue growth rate over the forecast period. This is attributed to their exceptional bonding strength to various substrates including plastics and rubber. Silicone waterproof tapes are also being employed more and more in the medical industry due to its numerous advantages. As it is biocompatible with skin and does not hurt live tissues, it is appropriate for those with delicate skin such as newborns and elderly. With repositionable dressings, wound can be examined and monitored for a longer period of time without having to change them. In addition, wounds can be monitored without changing the dressing due to transparency of some formulations. By acting as a barrier against liquids that can otherwise contaminate a wound, something is waterproof. They are exposed to air and can survive bacterial development.

The metal segment is expected to register a rapid revenue growth rate in the global market over the forecast period owing to increased adoption of waterproof tape with metal substrates. Metal-substrate waterproof tapes are incredibly robust. Non-woven weave of tapes offers them high tensile strength and exceptional rip resistance. One such example that is being utilized more frequently owing to its many benefits is aluminum foil tape. It has various uses in hot and cold climates, is a perfect substitute for mastic, and can last over time, among other benefits. Foil tape functions between 248°F and -22°F and can be applied between 14°F and 104°F. Most tapes struggle when it is cold outside, hence extreme cold makes tape less stickable by making adhesive harder. When applying the tape, it could not stick at all if it is cold outside, however, this does not occur with aluminum foil tape.

The building & construction segment is expected to account for large revenue share in the global market over the forecast period owing to increasing adoption of waterproof tape. These tapes are typically employed to create a barrier between structures and water to protect them from latter. Waterproofing tapes are used to solve flow problems where there is moisture and airflow in the building envelope such as around doors, windows, and nail holes. Additionally, they can be used in roofing systems to stop leaks caused by precipitation. Moreover, bathrooms, kitchens, patios, balconies, and commodes can all benefit from use of waterproofing tape. Water insulation can also be achieved by using waterproofing tapes, which are beneficial in moving joints, pipe transitions, pool crack repairs, and other locations, where such waterproofing is necessary.

The North America market is expected to account for largest revenue share during the forecast period, which is primarily attributed to the region's high growth in the building and construction industry. For instance, the U.S. construction sector's income increased by 2.4% in the five years before 2021, reaching USD 2.4 trillion. The economy is predicted to grow by 2.6% in 2021 alone as it begins to recover from COVID-19. As a result, the region's developing construction industries are rising demand for waterproof tape, which in turn, is driving market revenue development.

Leading Companies of the Waterproof Tape Industry and Profiled in the Report are:

3M, Nitto Denko Corporation, Tesa Tapes Private Limited, Johnson & Johnson Private Limited, Henkel Adhesives Technologies Private Limited, Medline Industries, Inc., Furukawa Electric Co., Ltd., Avery Dennison Corporation, Scapa Group Ltd., Teraoka Seisakusho Co., Ltd.

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Furthermore, the report divides the Waterproof Tape market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.

Emergen Research has segmented the global waterproof tape market based on resin type, substrate type, end-use, and region:

Resin Type Outlook (Revenue, USD Million; 2019–2030)

Acrylic

Silicone

Butyl

Substrate Type Outlook (Revenue, USD Million; 2019–2030)

Plastic

Metal

Rubber

Others

End-Use Outlook (Revenue, USD Million; 2019–2030)

Automotive

Healthcare

Building & Construction

Electrical & Electronics

Packaging

Others

Regional Analysis:

The report sheds light on the region expected to dominate the Waterproof Tape market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Waterproof Tape market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.

Key Points of Waterproof Tape Market:

Extensive coverage of the analysis of the Waterproof Tape market

Key insights into the regional spread of the industry in key geographies

Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market

Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Waterproof Tape market

Complete data about the key manufacturers and vendors in the Waterproof Tape market

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Waterproof Tape Market Size Worth USD 23.81 Billion in 2030

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