Future Market Insights
Global packaging industry has witnessed a number of technological advancement from last couple of decades. As packaging is unexecuted without the use of tape, the increasing demand for packaging from industrial sector in turn is creating huge opportunity for industrial tape market. The introduction of gaffers tape over duct tape has provided the manufacturer a wide range of packaging advancement. Gaffer’s tape which is also known as camera tape or spike tape is regarded as heavy cotton cloth pressure sensitive tape that delivers high adhesive properties. Through gaffers tape, now the manufacturers can use the tape on any kind of packaging material without the need for a solvent (such as water) or heat for activation. Gaffer tape is widely used in theatre, photography, film –television production and industrial staging works.
Gaffers Tape Market - Market Dynamics:
One of the significant factors contributing towards the growth of the gaffers Tape market is the rampant growth of industrial tape industry. Moreover, the growing consumption of Gaffers Tape from automotive and construction segment is expected to rise the demand of gaffers Tape over the forecast period. Furthermore, Gaffers Tape is suitable for all types of packaging material owing to its properties such as better adhesive holding power, improved moisture resistance, better conformability and instant adhesion. Characteristics such as compatibility with various sterilization forms and non-toxic nature displayed by Gaffers Tape is further estimated to enhance the demand of Gaffers Tape market over the forecast period.
Ease of entrance in the market has resulted in increasing competition in the global tape market. This has encouraged the vendors to introduce new and advance form of gaffers Tape, for instance double sided gaffers tape with high performance. Today most of the gaffers tape companies are focusing on highly efficient eco-friendly recovery technology for adhesive coating and is expected to be the next growth opportunity for pressure sensitive manufacturers over the forecast period.
However, the gaffers tape market is highly fragmented market due to presence of numerous regional and local players. These manufacturers offers innovative packaging solution related to tape at a lower price than multinational players, resulting in intense price wars. It is expected that large multinational players will acquire the small regional and local players over the forecast period.
Gaffers Tape Market- Market Segmentation:
Global Gaffers Tape market is segmented on the basis of product, backing material, and application. On the basis of product, gaffers tape market can be segmented into cartoon sealing tape, masking tape, double sided tape, electrical tape and others. On the basis of backing material, gaffers tape market can be segmented into polypropylene, paper, PVC and others. On the basis of application, gaffers tape market can be segmented into packaging, building & construction, electrical & electronics, automotive, health & hygiene and others
Gaffers Tape Market - Regional Outlook:
Geographically, the global gaffers tape market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global gaffers tape market is expected to witness a significant CAGR over the forecast period of 2017-2027. Moreover, APAC dominates the global gaffers tape market and the trend is expected follow the same over the forecast period due to growing construction industry in the wake of population growth, government plan for infrastructure development and urbanization. Apart from this, the ample availability of raw material such as PVC, polypropylene etc. in China is projected to fuel the demand for gaffers tape market in APAC region. North America is expected to follow APAC in gaffers tape market over the forecast period.
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. and H.B Fuller.
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