The gaffers tape market size is projected to be valued at USD 1.73 Billion in 2022 and is expected to surpass USD 3.73 Billion by 2032. The sales of gaffers tape are likely to grow at a steady CAGR of 8% during the forecast period.
| Report Attribute | Details |
|---|---|
| Gaffers Tape Market Value (2022) | USD 1.73 Billion |
| Gaffers Tape Market Forecast Value (2032) | USD 3.73 Billion |
| Gaffers Tape Market CAGR (2022 to 2032) | 8% |
The gaffers tape industry places a premium on efficiency and dependability. The market players are experimenting with different technologies to ensure great performance, strong adhesive and cohesive strength, and resilience to extreme conditions.
Several megatrends have contributed to the global gaffers tape industry's robust expansion during the past few decades. Two of them, sustainability and digital (especially e-commerce), are expected to present formidable obstacles for established companies to overcome while offering unprecedented potential for radical reinvention.
Multiple factors have contributed to the accelerated rate of change in the present day, including the widespread adoption of e-commerce, the tightening of waste regulations around the world, and the growing awareness of the importance of sustainability among consumers.
Next-generation industry winners need to update and future-proof their business models and market tactics to survive this exceptional change faced by CEOs. Transformative shifts will test the mettle of many gaffer tape players. However, businesses that adapt to these shifts successfully will have enough prospects for expansion.
Strengthening one's ability to bounce back from adversity is the first step. Companies that are resilient share a set of commonalities that help them recover quickly and thrive again. Consider double the reallocation of resources already in place to priority areas of growth as one such strategy for maximizing growth.
In addition, novel approaches to doing business and expanding abilities are essential to the success of any organization. Other crucial elements include rebuilding the portfolio via acquisitions and reorganizing costs while in a strong financial position.
The current era of disruption, transformative change in markets, and rising volatility calls for these six priority movements from industry leaders to build resilience, capture growth, and navigate transformational change.
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 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.
One of the significant factors contributing towards the growth of the gaffers Tape market share 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.
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.
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.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, product type, material type and end-use.
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 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.
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
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Gaffers Tape Market
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