Industrial Tapes Market Worth 58,487.11 Million USD by 2020

PUNE, India, August 31, 2015 /PRNewswire/ --

The report "Industrial Tapes Market by Product Type (Aluminum Tapes, Others), End User (Manufacturing, Others), Application (Packaging, Others), Tape Backing Material (Polypropylene, Paper), Mode of Application (Pressure Sensitive, Solvent Based) - Forecast to 2020" published by MarketsandMarkets, The Industrial Tapes Market is projected to reach USD 58,487.11 Million by 2020, at a CAGR of 6.0% from 2015 to 2020.

Browse 257 Tables and 49 Figures spread through 317 Pages and in-depth TOC on "Industrial Tapes Market - Forecast to 2020"

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The market report defines and segments the industrial tapes market with analysis and forecast of the global market size for industrial tapes till 2020. It also identifies the driving and restraining factors of the market with analysis of trends and opportunities.

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The industrial tapes market is segmented on the basis of product type, end user, application, tape backing material, mode of application, and region. The market is segmented and the value is projected, on the basis of regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW), and is forecasted till 2020. The major countries in all the regions have been considered for this study.

In the adhesives market industrial tapes have a considerable market size. Industrial tapes are extensively used to permanently bond and seal many substrates such as elastomers, foams, glass, and metals among others in a manner that enhances its strength, productivity, durability, and also improvises the product appearance. Industrial tapes can withstand harsh environment conditions such as high temperature, cold, temperature cycling, ultraviolet light, moisture and solvents.

Several innovations in designs and technological advancements have been witnessed by the industry in the last decade, which has helped industrial tapes to serve various end users such as manufacturing, automotive, electrical, construction, logistics, and aerospace.

The industrial tapes market is projected to reach USD 58,487.11 Million by 2020, at a CAGR of 6.0% from 2015 to 2020. Asia-Pacific is projected to grow the fastest from 2015 to 2020, because of the increasing manufacturing facilities and businesses in the region, due to which the demand of industrial tapes is increasing.

The industrial tapes market is marked with intense competition due to the presence of a large number of players.   New product launches and acquisitions are the key strategies adopted by market players to expand their business in the industry. The Industrial Tapes market is dominated by several large players such as The Dow Chemical Company (U.S.), Saint Gobain SA (France), 3M (U.S.), Henkel AG & Company, KGaA (Germany), Eastman Chemical Company (U.S.), Avery Dennison Corporation (U.S.), Ashland Inc. (U.S.), Sika AG (Switzerland), H.B Fuller (U.S.), and Von Roll Holding AG (Switzerland).

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SOURCE MarketsandMarkets