Sales of Duct Tapes to Generate US$ 7 Bn in 2029
The packaging industry is undergoing a radical shift from rigid to flexible plastic packaging formats. Duct tapes are particularly witnessing healthy demand from myriad end-use industries, majorly for adhesive application in sealing and waterproofing. Global adoption of duct tapes is anticipated to surge at a promising pace, with revenues exceeding the value of US$ 7 Bn by 2029 end. This FMI report forecasts that substantial consumption of duct tapes will be observed during the period of 2024 - 2026.
FREQUENTLY ASKED QUESTIONS ABOUT DUCT TAPES MARKET
What are future prospects of the duct tapes market?
There will be promising growth in the demand for duct tapes over the next decade, with market value increasing from US$ 4 Bn in 2019 at a healthy CAGR through 2029.
Which region will lead the global sales in duct tapes market?
North America remains the largest shareholder in the global duct tapes market. The US has emerged as a dominant region in the duct tapes market in terms of consumption. However, East Asia and South Asia are expected to show higher growth over the coming years.
What revenues can market stakeholders derive from the HVAC industry over the next decade?
In 2019, duct tapes worth over US$ 1.4 Bn were sold to the HVAC industry, and the number is set to maintain an average 5.7% yearly increase during the forecast period (2019-2029).
What are the major challenges for the duct tapes market?
Presence of alternatives such as injected aerosol sealants for HVAC ducts, and limited applicability of duct tapes in extreme conditions are hindering the growth of the global duct tapes market.
Which companies are investing significantly in the development of innovative products?
Some of the leading players in duct tapes market include 3M Company, Berry Global Group Inc., Shurtape Technologies LLC, Scapa Group plc., and tesa SE Group.
Professional Grade Duct Tapes Hold Half of Total Revenues
Carrying the benefits of better durability, holding power, and removal properties, professional grade and specialized high strength duct tapes continue to define stakeholders’ bottom lines. Particularly in Japan, adoption of the former is on the rise owing to high export of electronic goods in the country. However, professional grade duct tapes are likely to lose some of their share to their counterparts - utility duct tapes and removable duct tapes - as these packaging tapes are relatively expensive.
Construction Industry’s Progress Argues Well for Asian Markets
The duct tapes market in North America, collectively with that in Europe, is capturing a major pie of total market revenues. However, this study suggests that East Asia will outperform these developed regional markets during the latter half of the projection period. Spearheaded by China and Japan, the East Asian market will see an upsurge in adoption of duct tapes on the back of booming construction, and heating, ventilation, and air conditioning systems (HVAC) industries. South Asia is also echoing these growth prospects, attributing to the swelling infrastructure investments, particularly in fast developing countries such as India, Indonesia, and Thailand.
Unleashing Potential Application Opportunities in Non-traditional Areas
Influenced by their economical nature and excellent tacking property, duct tapes are making forays in various indoor applications such as sealing ductwork, and dustproofing filter banks. In addition to this, consumers are increasingly banking on duct tapes for different small-scale Do-it-Yourself (DIY) projects. Apart from these household applications, duct tapes are widely used in the manufacturing industry for waterproofing, reinforcing and color-coding of packaging, owing to their excellent resistance properties. Such potential application areas for duct tapes are reflecting white spaces to market players.
Professional grade duct tapes hold leading revenue share
Utility duct tape sales to grow at a higher rate
Natural rubber-based adhesives account for voluminous share
Synthetic rubber-based adhesives to see increasing adoption
High application in sealing
Usage in waterproofing to rise
High adoption projected in HVAC industry
Demand from building & construction industry to soar
How Growth will Unfold
Adoption of duct tapes will remain prominent in sealing of HVAC insulation systems throughout the forecast period. Accounting for over a third of total market revenues, manufacturers are eyeing this end-use category for higher profits. By 2025, duct tape consumption by the HVAC industry will account for revenues of over US$ 2 Bn. Meanwhile, the building & construction industry is also reflecting an opportunistic potential for market growth, where adoption of duct tapes would most likely join the billion-dollar club in 2021.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Duct Tapes Market Analysis 2019-2029
A recent market report published by FMI on the duct tapes market provides global industry analysis for 2014-2018 & forecast for 2019-2029. The report offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical, as well as current growth parameters of the duct tapes market, the growth prospects of the market are obtained with maximum precision.
Duct Tapes Market Taxonomy
The global duct tapes market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Removable Duct Tapes
- Professional Grade Duct Tapes
- Utility Duct Tapes
- Specialized High Strength Duct Tapes
- Natural Rubber-based adhesives
- Synthetic Rubber-based adhesives
- Polyvinyl Chloride
- < 10 Mil
- 10 to 15 Mil
- > 15 Mil
End Use Industries
- Building & Construction
- Shipping & Logistics
- Electrical & Electronics
- DIY Activities
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
The report begins with the executive summary of the duct tapes market, which includes a summary of the key findings and statistics of the market. It also includes dominant segments in the global duct tapes market, along-with key facts about duct tapes. It further highlights key recommendation as along with opportunity analysis. Additionally, graphical representation of the segments helps readers to get a clear analysis of market size and growth rate.
Readers can find product definition and detailed segmentation of the duct tapes market in this chapter, which will help them to understand the basic information about duct tapes present in the market. This section defines the scope of duct tapes market report.
This chapter includes recent developments in the global duct tapes market. It provides information about recent activities and strategies of key players. The market trends are defined on the basis of product innovation, technology advancement, mergers & acquisitions, and expansion strategies of the duct tapes manufacturers.
This section provides global outlook of packaging industries. Additionally, it gives information about global flexible packaging industry outlook.
This explains the global market volume analysis and forecast for the duct tapes market between the forecast periods of 2019-2029.
This section highlights the average pricing analysis of various product types of duct tapes in different regions across the globe. The weighted average pricing at the manufacturer-level is analyzed in this section.
This section explains the global market value analysis and forecast for the duct tapes market between the forecast period of 2019-2029. Readers can also find the absolute opportunity for the current year (2019 – 2020), and an incremental opportunity for the forecast period (2019 - 2029).
This chapter explains the key macroeconomic factors that are expected to influence growth of the duct tapes market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the duct tapes market. This chapter highlights the key market dynamics of the duct tapes market, which includes the drivers and restraints. Furthermore, the value chain analysis is provided, which helps readers to understand the flow of manufacturing of duct tapes.
In this chapter, the readers can obtain duct tapes market analysis on the basis of product types such as removable duct tapes, professional grade duct tapes, utility duct tapes, and specialized high strength duct tapes. This includes BPS analysis and market attractiveness analysis of duct tapes market by product.
Based on adhesive type, the duct tapes market is segmented into natural rubber-based adhesive and synthetic rubber-based adhesive. In this chapter, readers can find information about key segments during the forecast period.
This chapter provides details about the duct tapes market on the basis of plastic, foil, and cloth backing type. The plastic segment is further sub-segmented into polyethylene, polyvinyl chloride, and polyester.
This chapter provides details about the duct tapes market on the basis of applications- sealing, repairing, holding, waterproofing, coding, strapping, splicing, and others. The graphical representations of y-o-y trends and market share analysis by application for historic and forecast period gives an easy understanding about the duct tapes market to readers.
Here, readers can find market analysis on the basis of thickness such as < 10 Mil, 10 to 15 Mil and > 15 Mil along with the BPS and market attractiveness analysis.
The chapter provides demand growth of duct tapes in different end-use industries such as HVAC, automotive, building & construction, electrical & electronics industries, shipping & logistics, and DIY activities.
This chapter explains how the duct tapes market is expected to grow across various geographical regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa (MEA).
This chapter includes a detailed analysis of growth of the North American duct tapes market, along with a country-wise assessment that includes the U.S. and Canada. Readers will also find key points on the basis of estimated market size and consumption of duct tapes in this chapter.
Readers can find detailed information about several factors, such as pricing analysis and the regional trends, which are impacting the growth of the Latin America duct tapes market. This chapter also includes the growth prospects of the duct tapes market in leading countries in Latin America such as Brazil, Mexico, Argentina, and the Rest of Latin America.
Important growth prospects of the duct tapes market in several countries such as Germany, Italy, France, the U.K., Spain, Benelux, Russia, Poland, Nordic countries, and the Rest of Europe are included in this chapter.
India, Indonesia, Thailand, and Malaysia are the leading countries in the South Asia region that are the prime subjects of assessment to obtain the growth prospects of the South Asia duct tapes market in this chapter. Readers can find detailed information about the growth parameters of the South Asia duct tapes market during the forecast period of 2019-2029.
This chapter highlights the growth of the duct tapes market in East Asia by focusing on China, Japan, and South Korea. The section also highlights data points regarding the growth of the duct tapes market in the East Asian region.
In this chapter, Australia and New Zealand are among the leading countries in the Oceania region, which are the prime subjects of assessment to obtain the growth prospects of the Oceania duct tapes market.
This chapter provides information about how the duct tapes market is expected to grow in major countries in the MEA region such as GCC Countries, South Africa, Northern Africa, and the Rest of MEA during the forecast period of 2019 - 2029.
This chapter highlights detailed study of emerging countries that includes China, India, and Mexico. The historic and forecast demand and sales analysis as per the considered taxonomy for these countries is provided.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the duct tapes market along with their market presence analysis by region and product portfolio.
In this chapter, readers will find a comprehensive list of all leading manufacturers in the duct tapes market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are 3M Company, Berry Global Group Inc., Shurtape Technologies LLC, Scapa Group plc., Bolex (Shenzhen) Adhesive Products Co. Ltd., Intertape Polymer Group Inc., Supertape N.V., tesa SE Group, Shanghai Yongguan Adhesive Productions Corp., Ltd., and Vibac Group S.p.a.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the duct tapes report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, about the duct tapes market.
How the research was conducted?
Primary research interviews with key opinion leaders and other participants were conducted for data collection and validation of the below information:
- Key Segments in the Duct tapes Market
- Market Share Analysis
- Average Selling Price (US$) and Market Growth
- Key Regulations in Packaging Industry
- Market Size
- Key Trends & Developments
- Competition & Key Vendor Strategies
- Industry Journals
- Annual Reports/SEC Filings/Investor Presentations
Primary Interview Splits