The global market has been estimated to reach a value of US$ 36 billion by the end of 2033, as per a new research analysis published by Fact.MR, a provider of market research and competitive intelligence. Worldwide demand for surface protection films & tapes is forecasted to increase at a noteworthy CAGR of 8.5% over the decade.
A surface protection tape is a substrate that is connected to any adhesive layer. These tapes are manufactured to inhibit the surface from any sort of marks and safeguard it from different dust particles present in the air or to protect against scratches on the surface. Adhesive tapes ensure protection of the surface from chemicals, surface-eroding fumes, and temperatures. Surface protection films and tapes ensure residue-free protection for different surfaces, including those that are polished, mill-finished, or painted. In addition, these tapes provide excellent protection against scratches and damage. UV and weather resistance, adjustable peel force, and no adhesive residue are some of the significant properties of surface protection tapes.
Key Takeaways from Market Study
- The global surface protection tapes market is valued at US$ 15.9 billion in 2023.
- Demand for surface protection film tapes is estimated to reach a market valuation of US$ 36 billion by 2033-end.
- The market in Canada is projected to advance at a CAGR of 7.7% through 2033.
- Sales of surface protection tapes in Germany are anticipated to increase at a CAGR of 6% through 2033.
- The surface protection tapes market is predicted to register 8.5% CAGR over the decade.
Winning Strategy
Key manufacturers of surface protection tapes are investing at an increased rate in product innovation and development.
For instance,
- Tesa (Germany), in March 2019, invested more than 30 million euros (US$ 34 million) for the expansion of its Suzhou site in China. This unit will focus on manufacturing precision adhesive tapes. Further, the initiative is estimated to expand the manufacturing abilities of the company while meeting the requirements of electronics and automotive industries.
Competitive Landscape
Market players are adopting different strategies, such as novel product launches, collaborations, and others for the generation of growth opportunities over the coming years.
For instance:
- Toray Industries, Inc. in October 2021 developed a novel version of Lumirror. This newly launched version comes with a range of biaxially oriented polymer films. The film eliminates surface defects available at coarse protrusions.
- The Intertape Polymer group in May 2021 announced the launching of a novel flame-retardant polyethylene tape named PEFR. This solution is ideal for application in long-term storage, heavy equipment preservation, marine, surface protection, and abatement.
Prominent players in the global surface protection tapes market are Ajit Industries Private Limited, Tuftape Fzco, Chevron Phillips Chemical Company, Scapa Group, Integument Technologies, Inc., Mexim Adhesive Tapes Pvt. Ltd., Rhira Industries LLC, and Tesa SE.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global surface protection tapes market for the period of 2023-2033.
The study divulges essential insights into the market on the basis of type (polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), others), industry (building & construction, electronics & appliances, automotive, others), and material (polished metals, glass, plastics, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
These insights are based on a report on Surface Protection Tapes Market by Fact.MR.
