Global Waterproof Tapes Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Waterproof tape is a type of adhesive tape that is waterproof or water-resistant and can be single or double-sided. Waterproofing tapes are made using bitumen or butyl, are cold applied, and have adhesive on one side and aluminum foil or colored mineral on the other. Its protective cover is taken off, attached to the application surface, and immediately offers protection.

Sizing and Forecast

The waterproof tapes market size has grown strongly in recent years. It will grow from $14.03 billion in 2023 to $15 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to construction industry growth, repair and maintenance activities, consumer awareness, weather-related concerns, manufacturing industry needs, marine and boating sector..

The waterproof tapes market size is expected to see strong growth in the next few years. It will grow to $19.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rising urbanization, green building practices, extreme weather events, health and safety regulations, water management initiatives, environmentally friendly solutions.. Major trends in the forecast period include customized and specialized tapes, innovation in application techniques, aesthetics and design, smart building technologies, advancements in tape technology..

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Segmentation & Regional Insights

The waterproof tapes market covered in this report is segmented –

1) By Resin Types: Acrylic, Butyl, Silicone, Other Resin Types
2) By Substrate Types: Plastic, Metal, Rubber, Other Substrate Types
3) By End-Use Industry: Electrical and Electronics, Automotive, Building and Construction, Healthcare, Packaging, Other End User Industries

North America was the largest region in the waterproof tapes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the waterproof tapes market report during the forecast period. The regions covered in the waterproof tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The growing healthcare industry is expected to propel the growth of the waterproof tapes market going forward. The healthcare industry consists of companies that render medical services, produce medical devices or medications, offer medical insurance, or deliver healthcare to patients. In the healthcare industry, waterproof tapes are used for surgical containers, monitoring electrodes, covering wounds, securing cover shields during operations, and safeguarding abrasions, cuts, minor burns, blisters, and incisions. For instance, in January 2023, McKinsey & Company, a US-based management consulting company published an article according to which the healthcare profit pools are estimated to grow at a 4% from $654 billion in 2021 to $790 billion in 2026 and an estimated 6% growth from 2021 to 2025. Therefore, the growing healthcare industry is driving the growth of the waterproof tapes market.

Key Industry Players

Major companies operating in the waterproof tapes market are focused on developing innovative products, such as premium duct tape, to gain a competitive edge in the market. Premium duct tape is a high-quality, heavy-duty adhesive tape designed for demanding applications and is made with a thick, tightly woven cloth backing and a strong, aggressive adhesive. For instance, in July 2023, Flex Seal, a US-based manufacturer of adhesive bonding products, launched Flex Super Wide Duct Tape. It is a premium duct tape that is up to 300% wider than standard duct tape, and it has tough reinforced backing that is super strong but can still be torn by hand. It also has a thick, powerful adhesive that provides maximum bonding strength and adheres to virtually all types of surfaces. Flex Super Wide Duct Tape is also water, weather, and UV resistant, making it perfect for both indoor and outdoor use.

The waterproof tapes market report table of contents includes:

1. Executive Summary

2. Waterproof Tapes Market Characteristics

3. Waterproof Tapes Market Trends And Strategies

4. Waterproof Tapes Market – Macro Economic Scenario

5. Global Waterproof Tapes Market Size and Growth

….
31. Global Waterproof Tapes Market Competitive Benchmarking

32. Global Waterproof Tapes Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Waterproof Tapes Market

34. Waterproof Tapes Market Future Outlook and Potential Analysis

35. Appendix

 

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