DUBLIN--(BUSINESS WIRE)--The "Surface Protection Tapes Market by Type (Polyethylene, Polypropylene, Polyvinyl chloride), Surface Material (Polished metals, Glass, Plastic), End-use (Electronics & appliances, Building & construction, Automotive) & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Surface Protection Tapes Market is Projected to Grow from USD 12.3 Billion in 2019 to USD 18.0 Billion By 2024, Recording a CAGR of 8%.
The wide acceptance of the surface protection tapes across various end-use industries is projected to drive the overall growth of the surface protection tapes market across the globe from 2019 to 2024.
The growth of the end-user industries such as automotive & transportation, electrical & electronics, and building & construction are the key factors driving the growth of the surface protection tapes market. However, factors such as high raw material costs inhibit the growth of the surface protection tapes market.
In terms of value and volume, the polished metals segment is projected to be the fastest-growing segment during the forecast period.
The polished metals segment is the largest as well as the fastest-growing segment and is projected to grow at the highest CAGR from 2019 to 2024. Polished metals are widely used to manufacture a range of products, and these surfaces may require protection from scratches and damages incurred during the manufacturing, assembling, transportation, and storage activities. The growth of this segment is attributed to the demand for these tapes in various end-use industries such as building & construction (for curtain walls, building panels, and coil coatings) and automotive (for the vehicle parts).
The electronics & appliances segment to dominate the surface protection tapes market from 2019 to 2024, in terms of both value and volume.
The electronics & appliances segment is projected to dominate the surface protection tapes market from 2019 to 2024, in terms of both value and volume. Surface protection tapes for electronics use ultra-low and very low types of adhesives to protect delicate substrates that are used in the fabrication of the devices. Low to moderate adhesion surface protection tapes are used post manufacturing as they are more durable. These tapes are used as a screen protector for display panels. With the increasing growth rates for the electronics industry, the demand for surface protection tapes is likely to grow in this industry.
In terms of both value and volume, the Asia Pacific surface protection tapes market is projected to witness high growth during the forecast period.
In terms of both value and volume, the Asia Pacific surface protection tapes market is projected to grow at the highest CAGR from 2019 to 2024. High economic growth and increasing standards of living along with the rapid urbanization are increasing the infrastructural development in the region. Further, the growth in the construction industry of the region has increased the number of construction projects, which indirectly drives the demand for surface protection tapes in this region.
- Wide Acceptance Due to Reduced Weight, Ease of Application, and Ease of Removal
- Growing Use of Surface Protection Tapes in Diversified Industries
- Volatility in Raw Material Prices
- Difficulty in Recycling Polymer Plastics
- Advancement in Adhesive Tapes Technology
- Rise in Building & Construction Activities
- Developing the Transportation Sector Around the World
- Implementation of Stringent Regulatory Policies
- Uncertainty About Bond Permanency
- Ajit Industries Private Limited
- American Biltrite Inc.
- Avery Dennison
- Berry Global Inc.
- Chevron Phillips Chemical Company
- Compagnie De Saint-Gobain S.A.
- Covertec SRL
- Integument Technologies, Inc.
- Intertape Polymer Group Inc.
- Mexim Adhesive Tapes Pvt. Ltd.
- Mitsui Chemicals Tohcello, Inc.
- Nitto Denko Corporation
- Polifilm Group
- Pregis LLC
- Rhira Industries LLC
- Scapa Group
- Tesa SE
- Toray Industries, Inc.
- Tuftape Fzco
For more information about this report visit https://www.researchandmarkets.com/r/2uq6g8