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Market Trends – High growth in the building and construction industry in North America region
VANCOUVER, BC, UNITED STATES, August 2, 2022 /EINPresswire.com/ -- The global waterproof tape market size is expected to reach USD 23.81 Billion in 2030 and register a steady revenue CAGR of 6.9% over the forecast period, according to latest analysis by Emergen Research. Waterproof tape market revenue growth is primarily driven by factors such as rising demand from electrical & electronics and building & construction industries. Waterproofing tapes are used to stop water from entering building structures and are highly preferred owing to their excellent performance in terms of water ingress and ease of use. Waterproof tape is also increasingly being used in electrical and electronic applications to prevent mishaps caused by water coming into contact with electricity and prevent water damage to electronics.
A recent trend in the market is use of self-adhesive sealant waterproof tape. With the use of simple materials and low labor expense self-adhesive sealant tape, leaks on flat or pitched roofs can be swiftly stopped. This is a practical method for caulking various seams and cracks. For joint insulation and roof repair systems, waterproof tape for the roof can be utilized.
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As well as new entrants in the Waterproof Tape market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others.
Some major companies operating in the global market include 3M, Nitto Denko Corporation, Tesa Tapes Private Limited, Johnson & Johnson Private Limited, Henkel Adhesives Technologies Private Limited, Medline Industries, Inc., Furukawa Electric Co., Ltd., Avery Dennison Corporation, Scapa Group Ltd., Teraoka Seisakusho Co., Ltd.
One of the report’s central components is the broad Waterproof Tape market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.
On 29 March 2021, The Flex Seal Family of Products officially launched its newest and largest line of products and a part of the line is Flex Tape, which is an extremely strong waterproof tape that can instantly patch, bond, and seal, virtually anything. It can be applied on dry or wet surfaces and it even works underwater. Flex Tape’s powerful adhesive bonds instantly to almost any surface and actually gets stronger with time and pressure.
The silicone segment is expected to register a rapid revenue growth rate over the forecast period. This is attributed to their exceptional bonding strength to various substrates including plastics and rubber. Silicone waterproof tapes are also being employed more and more in the medical industry due to its numerous advantages. As it is biocompatible with skin and does not hurt live tissues, it is appropriate for those with delicate skin such as newborns and elderly. With repositionable dressings, wound can be examined and monitored for a longer period of time without having to change them.
In addition, wounds can be monitored without changing the dressing due to transparency of some formulations. By acting as a barrier against liquids that can otherwise contaminate a wound, something is waterproof. They are exposed to air and can survive bacterial development.
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The global Waterproof Tape market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Waterproof Tape sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Emergen Research has segmented the global waterproof tape market based on resin type, substrate type, end-use, and region:
Resin Type Outlook (Revenue, USD Million; 2019–2030) Acrylic
Substrate Type Outlook (Revenue, USD Million; 2019–2030) Plastic
End-Use Outlook (Revenue, USD Million; 2019–2030) Automotive
Regional Bifurcation of the Waterproof Tape Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Waterproof Tape market?
What are the key product types and applications of the Waterproof Tape industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
What is the competitive landscape of the Waterproof Tape market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
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