According to a research study, spacer tapes market is set to witness healthy growth during 2021-2031 with a CAGR of 5% to 7%. Demand from various industries in order to reduce labor costs for industrial packaging is creating higher number of opportunities for the market. Rise in investments in the construction and infrastructure industry is a major driving factor for the product market.
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What is Driving Demand for the Market?
Structural glazing, a modern façade manufacturing technique, is opening up new perspectives in glass infrastructure. Architects’ increasing desire to maximize daylights into the interior of the building by bonding glass panes to a metal frame is expected to create multiple growth opportunities for the market. Spacer tapes are essential in maintaining the defined distance between the metal and the glass frame prior to applying the silicone structural frame.
Substantial increase of investments in constructions related to commercial buildings, has been the pivotal factor in driving the market growth. Also growing usage of silicon structural glazing in other end use sectors such as residential, and industrial buildings is expected to create further augmentation of the product demand. The healthy demand of the product is also attributed to the fact that new as well as repair based installation in healthy weightages will call increased per unit product sales.
The applications of the product are not only limited to the construction industry. A majority of the demand for the product market arises from the consumer electronics industry, which has been booming due to integral fabrication of electronic parts in smartphones and mobiles and rise of new designs is expected to play a decisive role in the market growth of spacer tapes.
The trend towards thinner products and slimmer phones has created opportunities for innovative bonding technologies. Double sided pressure spacer tapes are being adopted as new solutions to meet various requirements in the smartphone industry. These die cuts consisting of single and double sided pressure sensitive tapes have applications in a other industries of significant growth such as automotive, medical amongst others.
Glass Bonding in Windows and facades being a Ubiquitous Application in Building and Construction, to Create Incremental Growth Opportunities for the Market
Spacer tapes are especially used for windows, aluminum doors, panel fixing and on aluminum surfaces. Its highly suitable thermal insulation and its sealing capabilities against water, vapor and noise makes it highly used in glass skyscrapers.
Rise of translucent and transparent glass structures and glass facades has experienced an upward trend in the construction industry. Exclusive ranges of high grade acrylic adhesives to ensure excellent shear resistance as well as adhesive features and benefits on spacer tapes are increasing their penetration in the glass facades and structural glazing market.
Adoption of glass facades to increase daylighting, which ultimately leads to a reduction in overhead electricity costs is a determining factor for large scale penetration of the same, which will thereby boost the sales of the market.
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How is Asia Pacific an Attractive Region for The Growth of the Market?
A significant rise in usage of structural glazing in commercial and public buildings in emerging markets of China and India is anticipated to create demand for spacer tapes market. The growth of construction and building industry, coupled with the rising need for green buildings has resulted for stronger adhesive force of spacer tapes to be used for structural glazing.
What Demand Potential Does GCC Countries have to Offer for Spacer Tapes?
Demand from office buildings, hospitality, government and institutional sectors as per ongoing projects and planned investments by the regional governments is expected to play a key role in consumption of construction materials including spacer tapes.
KSA is expected to lead the forefront of the demand generation owing to the nation having the highest investment and expenditure projects in construction sector across the above mentioned sectors as per the vision 2030 program. UAE currently is in its advanced stages of product consumption whereas Qatar and Oman are viewed as the emerging markets in upcoming years.
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Who are the Key Manufacturers and Suppliers?
Some of the leading manufacturers and suppliers of spacer tapes include
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.
