Electrical Insulation Tape Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
Electrical Insulation Tape Market isset to grow astonishingly soon owing to the increasing demand for energy.Besides, the modernizations of the conventional electrical infrastructure andexisting grids would affect the market positively.
This information is given by FortuneBusiness Insights™ in a recently published report, titled, “Electrical Insulation Tape Market Size, Share & COVID-19 Impact Analysis, By Material(PVC, Glass cloth, PET, and Others), Application (Electrical & Electronics,Aerospace, Industrial and others), and Regional Forecast, 2020-2027.” Thereport further states that the market size was USD 12.8 billion in2019 and is projected to reach USD 15.2 billion by 2027,exhibiting a CAGR of 4.04% during the forecast period.
The outbreak of the COVID-19 pandemicis creating huge losses for several companies across the globe. Most of theindustries are at a complete halt and some others are following socialdistancing measures to carry on with their operations. Numerous healthcareorganizations are striving to invent a vaccine to cure coronavirus. Our reportsoffer elaborate information about the effects of the pandemic on every market tohelp you gain business confidence.
This Report Answers the FollowingQuestions:
- What are the opportunities and challenges in the market?
- Which company is set to dominate the market?
- What are the vital strategies implemented by key companies?
- What are the market drivers, dynamics, and obstacles?
Drivers & Restraints:
Increasing Demand for ConsumerElectronics to Drive Growth
Electrical insulation tapes areextensively used in the manufacturing of white goods and consumer electronics.Apart from that, in the emerging nations, the demand for consumer electronicsis increasing at a rapid pace owing to the rising disposable incomes of people.Coupled with this, the growing usage of e-commerce platforms worldwide isfurther boosting the demand for such electronics. These factors are expected topropel the electrical insulation tape market growth in the coming years.
However, the outbreak of the COVID-19pandemic is presently disrupting the supply chains of a wide range ofindustries and electrical insulation tape is not an exception. The overallmarket growth may be hampered in 2020 owing to the unavailability of manpowerand strict lockdown restrictions imposed by the regulatory bodies. Anothermajor cause of this is the halt of electricity grid modernization projects innumerous countries as the governments are applying those funds for otheressential projects.
Segmentation:
Aerospace Segment to ExhibitSignificant Growth Backed by Rising Fleet in Asia Pacific
Based on application, the market isfragmented into industrial, aerospace, electrical & electronics, andothers. Out of these, the aerospace segment generated 16.24% in terms ofelectrical insulation tape market share in 2019. This growth is attributable tothe high demand for these insulation tapes in this industry owing to the risingfleet, especially in Asia Pacific.
Regional Analysis:
Increasing Usage of Electric Vehiclesto Favor Growth in North America & Europe
In 2019, Asia Pacific procured USD 7.10billion in terms of revenue. China is considered to be the major contributor tothis growth as the country possesses over 60% of the regional share. Rapidurbanization and industrialization would help in propelling the market growthin this country. In India, the ongoing expansion of electricity grids wouldsurge the demand for electrical insulation tapes, thereby augmenting the marketgrowth. In North America and Western Europe, the increasing penetration ofelectrical technologies and the rising number of electric vehicles (EVs) areset to impact the market growth positively.
Competitive Landscape:
Key Players Focus on CollaborationStrategy to Strengthen Position
The market is highly fragmented. Therenowned companies are mainly engaging in enhancing their existing productportfolios and partnering up with other local enterprises to strengthen theirposition.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry DevelopHouseholdts - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Insights- Impact of COVID-19 on Market
- Supply Chain Challenges
- Steps Taken by Companies/ Association to counter the impact
- Future Outlook
- Global Electrical Insulation Tape Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Material (Value & Volume)
- PVC
- Glass cloth
- PET
- others
- By Application (Value & Volume)
- Electrical & Electronics
- Aerospace
- Industrial
- Others
- By Region (Value & Volume)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Fortune Business Insights™ lists outthe names of all the prominent electrical insulation tapes providers operatingin the global market. They are as follows:
- Tesa
- Saint-Gobain
- Nitto-Denko
- Avery Dennison Corporation
- Intertape Polymer Group Inc.
- The 3M Company
- HellermannTyton
- Teraoka Seisakusho Co., Ltd.
- Shurtape Technologies, LLC
- Pidilite Industries Ltd.
Below is one of the latest industrydevelopments:
- May 2020: Saint-Gobain joined hands with Elbflorace, the German Formula Student racing team to develop a brand new electric Formula Student race car. The company will be offering its electrical insulation tape solutions to the team as they play an important role in several EV and automotive applications, such as car body exterior, battery packs, motors & generators, sensors, and electrical insulation.
Browse Detailed Market Insights of ThisResearch Report with TOC:
https://www.fortunebusinessinsights.com/electrical-insulation-tape-market-103476
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