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Sealant Tape Market Development, Expansion, Merger, Acquisition, New Product Launches, and Pricing Analysis

user image 2022-03-24
By: Elenaklause
Posted in: Business
Sealant Tape Market Development, Expansion, Merger, Acquisition, New Product Launches, and Pricing Analysis

Sealant Tape Market: Overview

Sealant tape is an air-tight seal commonly used in the manufacturing of permanent vacuum bagging as well as processing of composites. It is also known as tacky tape which maintains an air-tight seal during the cure cycle. It is also used to seal ducts, windows, gutters, metal buildings, vents, roof seams, and roof sidewalls. Sealant tapes also find application in housing, transportation, and modular construction industries.

These tapes possess excellent tack and superior cohesive strength, and offer superior watertight sealing. Sealant tapes improves energy efficiency when applied to joints in duct system by reducing heating and cooling cost. These tapes adhere to metal substrates very efficiently, even when they are contaminated with oil.  Sealant tapes offer excellent adhesion and compressibility to cold and moisture-based substrates.

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Sealant Tape Market: Key Players

Key players operating in the global sealant tape market include 3M Company, Permapack AG, VABATEC, GSSI Sealants Inc., and Pacific Coast Composites.

Sealant Tape Market: Key Segments

The global sealant tape market can be segmented based on type and region. In terms of type, the market can be categorized into butyl tapes, silicone tapes, urethane tape, polytetrafluoroethylene (PTFE) tape, and polypropylene tape. PTFE tapes, also called thread sealant tapes, are typically used to control leakage in water and gas pipelines. These tapes provide high resistance to chemical attack and can be used for high temperature and high abrasion resistance applications. PTFE tapes are used for sealing valves, screws, stopcock, gaskets, and insulating electrical parts.

Butyl tapes are adhesive tapes, primarily used in the construction and repair industries. These tapes provide excellent protection against seals cracks, seams, etc., on the surface of the roof. Urethane tapes are widely used for construction, transportation, and industrial applications. These tapes are highly flexible and are manufactured from very tough, abrasion-resistant polyurethane. Polypropylene tapes provide excellent resistance to temperature fluctuations and are suitable for the packaging industry.

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Sealant Tape Market: Key Drivers

Rapid urbanization and industrialization across Asia Pacific is a key driver of the sealant tape market in the region. In addition, rising foreign direct investment in real estate, government infrastructural plans, and ample availability of raw materials, such as, polyurethane and polypropylene in China are the other factors fueling the sealant tape market in Asia Pacific.

However, intense competition from bio-based polymer tapes and high cost of sealant tapes are expected to hinder the growth of the sealant tape market during the forecast period. Nevertheless, rising research activities to improve the longevity and performance of sealant tapes is likely to provide lucrative opportunities to the manufacturers in the near future.

Sealant Tape Market: Regional Outlook

In terms of region, the global sealant tape market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the global sealant tape market primarily due to rapid industrialization and urbanization in countries, such as, China, India, Vietnam, and Indonesia. Various end-user industries, such as, automotive, construction, and wires & cables have been growing in the region due to progress in urbanization and industrialization.

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This, in turn, is boosting the sealant tape market in Asia Pacific. The sealant tape market in the developed economies, such as, the U.S., Germany, France, etc., is expected to grow at a moderate pace during the forecast period. This can be ascribed to the rapid growth of the packaging and aerospace industry in these countries. The sealant tape market in Latin America and Middle East & Africa is expected to grow significantly in the near future due to rising construction activities and increasing investment by various automakers in Mexico, South Africa, and GCC countries.

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