Thermoplastic tape is a type of tape that is made from thermoplastic materials, such as polypropylene, polyethylene, and nylon. These materials are heated and extruded into a tape form, which is then cooled and wound onto rolls. Thermoplastic tape is widely used in a variety of industries, including construction, automotive, and packaging.
The global thermoplastic tape market is expected to grow in the coming years due to increasing demand from various end-use industries. The construction industry is one of the major drivers of the thermoplastic tape market, as the tape is widely used in the construction of buildings, roads, and other infrastructure projects. The tape is also used in the automotive industry for applications such as insulation and cable harnessing. In addition, the packaging industry is also a significant contributor to market growth, as thermoplastic tape is used to seal and secure various types of packaging.
The market for thermoplastic tapes is anticipated to reach USD 3.0 Billion by 2029 at a CAGR of 4.7% from USD 2.2 Billion in 2022. The global thermoplastic tapes market will account for roughly 23.9% of the US$73.6 billion adhesive tapes industry in 2022.
According to the FMI analysis, the market for thermoplastic tapes will grow at a rate of 1.4 times the value of the base year throughout the projection period, providing manufacturers with profitable investment prospects. According to the market analysis of thermoplastic tapes, the total amount of thermoplastic tape consumed globally is anticipated to rise by 4.5% YoY between 2022 and 2023.
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The increasing demand for eco-friendly and biodegradable products is also expected to drive market growth. Thermoplastic tapes made from biodegradable materials, such as corn starch, are becoming increasingly popular as they are more environmentally friendly than traditional thermoplastic tapes.
There are various types of thermoplastic tape available in the market, such as polypropylene tape, polyethylene tape, nylon tape, and others. Among these, polypropylene tape is the most widely used due to its excellent mechanical properties and low cost. However, polyethylene tape is also gaining popularity due to its high strength and durability.
The thermoplastic tape market is segmented based on application, such as construction, automotive, packaging, and others. Among these, the construction segment is expected to dominate the market due to the increasing demand for thermoplastic tape in the construction of buildings and infrastructure projects. The automotive segment is also expected to witness significant growth due to the increasing use of thermoplastic tape in the production of vehicles.
In terms of geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia-Pacific is expected to dominate the market due to the increasing demand for thermoplastic tape in countries such as China, India, and Japan. The market in North America and Europe is also expected to grow due to the increasing demand for thermoplastic tape in the construction and automotive industries.
The major players operating in the thermoplastic tape market include 3M, Avery Dennison, Nitto Denko, Berry Global, Intertape Polymer Group, and Scapa Group. These companies are focusing on expanding their product portfolio and increasing their market presence through strategic collaborations and acquisitions.
In conclusion, the thermoplastic tape market is expected to grow in the coming years due to increasing demand from various end-use industries such as construction, automotive, and packaging. The increasing demand for eco-friendly and biodegradable products is also expected to drive the market growth. Companies operating in the market are focusing on expanding their product portfolio and increasing their market presence through strategic collaborations and acquisitions.
Manufacturers Foresee Lucrative Opportunities in East Asia
Europe will continue to hold a prominent share in the thermoplastic tape market. However, high growth opportunities are expected in East Asia in 2021 and beyond. China is anticipated to represent high incremental opportunity and maximum growth rate in the region. With mounting environmental concerns, the government in the country are continuously imposing regulations to reduce dependency on fossil fuel, which led to increased adoption of composites in automotive and aircraft manufacturing. As a result, thermoplastic tape is likely to gain significant traction in the East Asian countries.
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Industry Leader’s Perspective:
According to R&D Vice President of Arkema – leading player in the thermoplastic tape market, carmakers in Europe are focusing on the development of lighter vehicles by replacing metal components with composites, in order to achieve the carbon emissions cap for new cars which will drop from 130 grams to 95 grams per kilometre by 2020. The company’s thermoplastic is set to be a part of this solution, by offering lightweight, efficient, recyclable properties.
PAEK Resin Family Remain a Material of Choice
- By thickness, thermoplastic tape of 0.21-0.40 mm is expected to hold prominent value share in the market. Although it remains the most common thickness range used in the end-use industries, manufacturers are likely to focus on offering varying range of thickness to sustain the demand for different applications.
- On the basis of material, PAEK is a widely used resin family in thermoplastic tape, followed by polyamide resin. According to the manufacturers, high quality composites are formed when these materials are combined with carbon or glass fibers. However, the carbon-reinforced fiber provides more strength to thermoplastic tapes as compared to the glass-reinforced fiber.
- By end-use industry, significant adoption by the automotive industry will continue to account for relatively high sales.
Competitive Landscape
The key manufacturers operating in the thermoplastic tapes market are trying to focus on innovative product launch, expansion due to the increasing demand from the automotive and aerospace sectors.
- In May 2021, Teijin Limited launched a new carbon fiber thermoplastic unidirectional pre-impregnated tape. This tape is based on PPS.
- In Feb 2021, MaruHachi Corporation installed a new UP tape line for high-temperature thermoplastic tapes and multi-layer sheet laminates for demanding segments such as aerospace and automotive.
Thermoplastic Tape Market: Vendor Insights
The report highlights prominent market players who have established themselves as market leaders in the global thermoplastic tape market. Some of the key players operating in the global market are
- Evonik Industries AG,
- Toray Industries Inc.,
- Solvay S.A.,
- Teijin Ltd.,
- Mitsui Chemicals Inc. and
- Sabic Corporation, among others.
The global thermoplastic tape market is considered as consolidated with some market players holding prominent share of the market. Manufacturers in the thermoplastic tape market are investing in expansions and mergers to expand their product portfolio as well as their foothold in the market.
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Table of Content
- Executive Summary
1.1. Global Market Analysis
1.2. Global Market Outlook
1.3. Analysis and Recommendations
- Market Introduction
2.1. Market Definition
2.2. Market Coverage
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation
- Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
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