Newark, NJ, May 24, 2022 (GLOBE NEWSWIRE) – As per the report published by our research team, the global silicone rubber tape market is expected to grow from USD 1.5 billion in 2021 to USD 2.13 billion by 2030, at a CAGR of 4.0% during the forecast period 2022-2030.
The silicone rubber tape market is growing faster due to the demand for silicone rubber tapes in the healthcare, automotive, and electrical & electronics sectors. Manufacturers primarily concentrate on delivering a unique variety of products with enhanced properties. Similarly, healthcare services, awareness concerning hygiene products, infrastructure growth, and up-gradation of electronic tools improve the need for silicone rubber tapes. The global silicone rubber tape market report delivers a holistic market evaluation.
To enhance their market position in the global silicone rubber tape market, key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- In SHANGHAI, April 27th, 2022, Elkem Silicones, the world’s foremost integrated silicone manufacturer, reported a plan to fund more than 100 million yuan to widen its flagship Asia-Pacific R&I Center in Shanghai. The development also describes one of its latest efforts to expand acquisition in China.
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Market Growth & Trends
The primary driver of the silicone rubber tapes market is expanding automotive industry. In the industry, tapes containing silicon properties are primarily utilized in protection tapes and double-sided tapes. Automotive manufacturers are shifting from mechanical pins to automotive tapes with adhesive properties to decrease the weight of vehicles. Mechanical fasteners, such as bolts and screws, raise the weight of the cars, and lightweight adhesive solutions increasingly replace these products. Therefore, an expansion in the adoption of silicone rubber tapes in the automobile industry is anticipated to expand the silicone rubber tapes market. Similarly, the need for silicone rubber tapes is noticing development in the healthcare industries due to penetration of the products in the sector in growing countries and an increase in disposable income. Further, these tapes have outstanding weathering features, and they deliver resistance to arcs and zones, which is wholly expected to propel the growth of the global silicone rubber tapes market. Specific restrictions and barriers encountered will hamper the overall market growth. The factors such as fluctuating costs of raw materials and strict legal guidelines are restraining the market growth. Natural rubber, a petroleum-based derivative, is one of the primary raw materials in producing rubber tapes.
- In 2021, the silicon rubber-based silicone rubber tape segment dominated the market with the largest market share of 63% and market revenue of 0.94 billion.
The type segment is divided into acrylic based silicone rubber tape & silicon rubber-based silicone rubber tape. In 2021, the silicon rubber-based silicone rubber tape segment dominated the market with the largest market share of 63% and market revenue of 0.94 billion. The factors can be attributed to temperature resistance properties, good holding strength, and heat insulation. These tapes deliver superior ease. They are relatively slim, adjustable, and soft, making them eligible for automobile aircraft manufacturing, accelerating the need for the segment.
- In 2021, the packaging segment dominated the market with the largest market share of 21% and market revenue of 0.31 billion.
The application segment is divided into electrical & electronics, packaging, building & construction, health & hygiene, automotive and others. In 2021, the packaging segment dominated the market with the largest market share of 21% and market revenue of 0.31 billion. The factors associated with the rising demand for silicone rubber tapes in food and non-food packaging and the growing craze of online shopping in developing economies push the need for packaging.
Regional Segment Analysis of the Silicone Rubber Tape Market
- North America (US, Canada, Mexico)
- Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia-Pacific region emerged as the largest market for the global silicone rubber tape market, with a market share of around 34.5% and 0.51 billion of market revenue in 2021. The improvements in healthcare, automotive, and electrical & electronics sectors, lower raw materials, easy availability of reasonable labor for manufacturing tapes with adhesion properties, and continuing projects will push the market in the APAC region.
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Key players operating in the global silicone rubber tape market are:
- Yongle Tape
- Yonghe Adhesive Products
- tesa SE
- Shushi Group
- Nitto Denko
- Luxking Group
- LINTEC Corporation
- Intertape Polymer
- Berry Plastics
- Avery Dennison
- Achem Technology Corporation
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Markets and Research have segmented the global silicone rubber tape market based on the below-mentioned segments:
Global Silicone Rubber Tape Market by Type:
- Acrylic Based Silicone Rubber Tape
- Silicon Rubber Based Silicone Rubber Tape
Global Silicone Rubber Tape Market by Application:
- Electrical & Electronics
- Building & Construction
- Health & Hygiene
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About the report:
The global silicone rubber tape market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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