The report “Waterproof Tapes Market by Adhesive (Acrylic, Silicone, Butyl), Substrate (Metals, Plastics, Rubber), End-Use Industry (Building & Construction, Automotive, Electrical & Electronics, Healthcare, Packaging), and Region – Global Forecast to 2022”, The waterproof tapes market is projected to grow from USD 9.34 Billion in 2016 to USD 13.95 Billion by 2022, at a CAGR of 6.97% during the forecast period.
The waterproof tapes market is projected to grow at a CAGR of 6.97% between 2017 and 2022, in terms of value. The market is expected to witness high growth in the coming years, owing to increasing demand for waterproof tapes from various end-use industries:
- Electrical & electronics
- Building & construction
Waterproof tapes are thin films applied to:
- Other materials to add or increase specific properties, such as water resistance, durability, and conductivity.
Silicone Segment to Lead Waterproof Tapes Market
Silicone adhesives have high demand in various applications, due to their excellent chemical resistance and low shrinkage value. These adhesives produce lower quantities of volatile compounds during curing. Silicone adhesive-based waterproof tapes are used in a wide range of end-use industries, especially in niche applications where excellent bonding strength is required. These types of adhesives can be used to bond a variety of substrates, such as metals, plastics, and rubber.
Healthcare Segment to Lead as End User
Based on end-use industry, the healthcare segment of the waterproof tapes market is projected to witness the highest growth between 2017 and 2022. Waterproof tapes are used to cover wounds, fix cover shields during surgeries, and protect abrasions, cuts, minor burns, blisters, and incisions.
The metals substrate segment of the waterproof tapes market is projected to lead the market during the forecast period. Based on substrate, the metal segment was the largest segment of the market in 2016. Waterproof tapes are used to bond a wide range of metals and metal alloys in various end-use industries, such as automotive, building & construction, marine, healthcare, and electrical & electronics, among others.
Asia Pacific is expected to be the largest market for waterproof tapes during the forecast period from 2017 to 2022. The growth of the market in Asia Pacific can be attributed to the rising demand for waterproof tapes from countries, such as India, China, South Korea, Vietnam, Taiwan, and Singapore, among others.
3M Company (US), Avery Dennison (US), Nitto Denko (Japan), Henkel (Germany), Tesa (Germany), and Scapa Group (UK) are the key players operating in the waterproof tapes market.