Cable Wrapping Tape Market Outlook (2023 to 2033)
As per Future Market Insights, the cable wrapping tape market is anticipated to attain a value pool of US$ 1,500 million by 2023-end. Global demand for cable wrapping tapes is expected to rise at a CAGR of 6% to US$ 2,700 million in 2033.
| Data Points |
Key Statistics |
| Expected Market Value in 2023 |
US$ 1,500 million |
| Projected Market Value in 2033 |
US$ 2,700 million |
| Growth Rate (2023 to 2033) |
6% CAGR |
Accelerating Growth: Prominent Drivers of the Cable Wrapping Tape Market
- Increasing demand for cable protection: The growing use of electronic devices and communication systems has led to a higher demand for cable protection products such as cable wrapping tape.
- Growing construction industry: The construction industry is among the prominent end-users of cable wrapping tape, as it is used to protect electrical wiring in buildings and other structures. The growth of the construction industry, particularly in emerging economies, is driving the demand for cable wrapping tape.
- Advancements in technology: The development of new and innovative cable wrapping tape products with improved properties such as better adhesion, flexibility, and durability is driving the demand for these products in various industries.
- Growing demand for high-quality and durable products: The cable wrapping tape market is experiencing a rising demand for high-quality and durable products to protect and insulate cables from external factors like heat, moisture, and corrosion. As industries such as telecommunications, construction, automotive, and electrical continue to grow, there is a need for cable wrapping tapes that provide better resistance against these factors to ensure the safety and longevity of the cables. Manufacturers are responding to this trend by developing new and improved cable wrapping tapes that offer enhanced protection and durability.
Expanding Horizons: Noteworthy Opportunities in the Cable Wrapping Tape Market
- Increasing demand from emerging economies: Emerging economies, such as China, India, Brazil, and others, are experiencing rapid urbanization and industrialization, which is driving the demand for cable wrapping tape in these regions.
- Growing demand for high-performance products: The demand for cable wrapping tape with superior properties, such as resistance to temperature, moisture, and chemicals, is increasing across various industries, including automotive, aerospace, and telecommunications.
- Advancements in manufacturing technologies: The development of new manufacturing technologies, such as extrusion and coating, is enabling manufacturers to produce cable wrapping tape with better quality, consistency, and cost-effectiveness.
- Rising investments in renewable energy: The growing demand for renewable energy sources, such as wind and solar, is driving the demand for cable wrapping tape to protect cables used in these installations.
- Increasing focus on safety and reliability: The increasing focus on safety and reliability in various industries, such as oil and gas, is driving the demand for high-quality cable wrapping tape that can withstand extreme environmental conditions and protect cables from damage.
Shaping the Future: Top Trends in the Cable Wrapping Tape Market
- Increasing use of advanced materials: Manufacturers are increasingly using advanced materials, such as polyethylene, polypropylene, and PVC, to produce cable wrapping tape with enhanced properties such as resistance to temperature, moisture, and chemicals.
- Rising adoption of automation and robotics: The adoption of automation and robotics in cable wrapping tape manufacturing is increasing, as it enables manufacturers to improve production efficiency, reduce labour costs, and enhance product quality.
- Growing demand for customized solutions: Customers are demanding more customized cable wrapping tape solutions that are tailored to their specific requirements, such as the size, thickness, and adhesion level.
- Increasing use in automotive and aerospace industries: The automotive and aerospace industries are using more cable wrapping tape products to protect and organize electrical wiring in vehicles and aircraft, as electronic systems become more sophisticated and complex.
The market is expected to witness moderate growth during the assessment period due to factors such as installment for the electrification in new households , automobile vehicles, industrial machinery, and other electrical components the where packaging and insulation are required.
With high consumption rate of rate fiber optics and extra high voltage cables in civic utilities, the market growth is likely to have a promising outlook, which can be attributed to extensive usage in almost all industries.
What Factors are Escalating the Demand for Cable Wrapping Tapes
The demand from the electrical wiring sectors is due to the insulation required in cables and other materials that conduct electricity as also mandated by industry associations for end roll out product’s certification for use.
With electrical wires and Cables becoming an indispensable part in power utilities and telecommunications, the market growth is expected to remain unabated. Digitization has led to a revolution in the modern world. The advent of modern technology has led to consumers demanding better quality and faster services.
Numerous variation in types of cables has paved way for increasing demand for customization in the variety of the wrapping tapes.
However, the advent of wireless networking technology, may hamper the growth of the market growth in industrial utilities to an extent, yet cables being an integral part of power and telecommunication transmission hardware, the need of protective insulation in new installations and servicing will imbibe a considerable volume of cable wrapping tapes in upcoming years.
Electronics and Electrical Industry Deemed as Primary End User of Cable Wrapping Tape
The need of Cable Wrapping Tape in consumer electrical appliances and electronic devices are a must to prevent any short-circuits, overriding effects of excess currents and complete the inter-circuit networks to make the device work properly.
The tape also protects the wires from the direct atmosphere contact which can make a safety parameter in prevention of electrical shock.
The tapes are also used in the tele- communication cables, which also lead to having a moderate growth due to the demand from various sectors in the segment. The drawback of the tapes is from the newly developed wireless technology for some of the electrical devices which can affect the market share.
Asia Pacific Market Demand Potential
Asia Pacific region is anticipated to expand at a sound pace during the assessment period due to the increased demand for electronics and electrical devices and also power cables due to the investment in the power sector. APAC is also expected to have significantly larger growth than the rest of the regions. The people are demanding better cables and wires for the electrical fittings which then significantly increase the global tape.
Europe Cable Wrapping Tape Market Growth Outlook
Europe is also anticipated to have significant growth in the market. The European Union has their specific quality and standard of tapes for power cables and other electrical devices. The market is expected to grow steadily in the region.
What are the Leading Manufacturers/Suppliers of the Cable Wrapping Tape Market
Some of the leading manufacturers and suppliers of Cable Wrapping Tape Market include
- The 3M Company,
- Parker Hannifin,
- Scapa Group,
- Hellermann Tyton Corporation,
- Polycom Associates,
- Cap Cab India Ltd.,
- Jinyang Technology,
- Avery Dennison,
- Achem,
- Tesa SE,
- Nitto,
- Intertape Polymer Group Inc.,
- Saint Gobain,
- Four Pillars Enterprise Co. Ltd.,
- Plymouth,
- Teraoka Seisakusho Co., Ltd.,
- Wurth,
- Yongguan Adhesive,
- Denka, Furukawa Electric Co. Ltd., and some other local players.
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 an 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.
