Press Release

Global Electrical Tape Market to Grow at a CAGR of 4.1% During 2024-2032, Aided by Rapid Electrification and the Demand for Electric Vehicles

Global Electrical Tape Market

According to a new report by EMR titled, ‘Global Electrical Tape Market Report and Forecast 2024-2032’, the global electrical tape market size reached a value of around USD 14.54 billion in 2023. The market is expected to grow at a CAGR of 4.1% between 2024 and 2032, reaching a value of around USD 20.95 billion by 2032.

Electrical tapes are produced from high-quality polyvinyl chloride (PVC) and rubber, making them resistant to heat, water, and chemical damage. An expanding industrial sector is also contributing to an increased energy demand necessitating the need for electrical tapes to provide excellent insulation to protect wires and electrical components from short circuits. This supports the growth of the electrical tape market. Moreover, an expanding population in the Asia Pacific is increasing the demand for rapid electrification owing to rising residential and commercial construction. The region is stimulating the consumption of high-performance electrical insulation tapes for residential and commercial wiring.

 

Other factors driving the demand for electrical tapes across the globe include an ageing electrical infrastructure, increased energy demand, modernisation of the electricity grid, and an increased need for higher-efficiency electric motors. A rise in electric vehicle sales and the demand for charging stations also support the demand for electrical tapes. Electrical tapes are crucial for the permanent bonding of battery cells and the insulation of electronic components in electric vehicles.

 

Popular companies of electrical tape include 3M Company (NYSE: MMM), tesa SE, and Nitto Denko Corporation, among others. Manufacturers are competing for a large market share by expanding their consumer base and making their products available on various distribution platforms, both online and offline.

 

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Market Breakup by Material, Application, and Region:

  • The market is segmented based on material into PVC tapes, glass cloth tapes, PET tapes, and others.
  • By application, the market is segmented into electrical and electronics, aerospace, industrial, and others.
  • Region-wise, the global market for electrical tapes can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • The rising residential construction drives the demand for electrical tapes for home wiring needs. These tapes provide excellent insulation, protecting wires and electrical components from short circuits and damage.
  • Extensive research in the field of electric tapes has helped producers develop electrical tapes with enhanced properties, such as friction electrical tapes.
  • The rising demand for electricity from the industrial sector and the rapid electrification of the rural sector support the electrical tape market growth.
  • As the automotive sector witnesses an increased adoption of electric vehicles, the demand for reliable charging stations is also rising. The demand for electric tapes is increasing to ensure the safety of these chargers by protecting the enclosure from the external environment and insulating the components.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for electrical tape for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the material, application, and major regions of electrical tape.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global electrical tape market are tesa SE, 3M Company, Intertape Polymer Group, Avery Dennison Corporation, Nitto Denko Corporation, HellermannTyton GmbH, Teraoka Seisakusho Co., Ltd., Fujian Youyi Adhesive Tape Group Co., Ltd., A&G Manufacturing Co. Inc., and Scapa Industrial, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Material
  • Application
  • Region
Breakup by Material
  • PVC Tapes
  • Glass Cloth Tapes
  • PET Tapes
  • Others
Breakup by Application
  • Electrical and Electronics
  • Aerospace
  • Industrial
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • tesa SE
  • 3M Company
  • Intertape Polymer Group
  • Avery Dennison Corporation
  • Nitto Denko Corporation
  • HellermannTyton GmbH
  • Teraoka Seisakusho Co., Ltd.
  • Fujian Youyi Adhesive Tape Group Co., Ltd.
  • A&G Manufacturing Co. Inc.
  • Scapa Industrial
  • Others

 

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

 

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

 

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