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Global Electrical Insulation Tape Market Insight February 16, 2022 Comments

The Electrical Insulation Tape is forecast to crazy over the next few years. According to WK-chem Research, “Global Electrical Insulation Tape Professional Survey Report 2022, Forecast to 2027”, The Electrical Insulation Tape industry is growing rapidly with the increasing consumer demand. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.04% base on WK-chem Research regression analysis model.
Analysts’ Viewpoint:
“In an energy-scarce world, electrical insulating tapes play a very important role in maintaining aging electrical infrastructure. The modernization of electrical grids has also increased the importance of these tapes for smooth operation, and electrical insulating tapes are expected to increase in the coming years. The market will grow rapidly.” said Eva Joy, Senior analyst, Chemical & Materia Market Research Center in WK-chem Research.
Market insight:
Grid modernization is boosting the demand for electrical insulating tapes. Energy demand has increased rapidly since the early 2000s. Modernizing existing grids and supporting aging power infrastructure has become a necessity as technology and equipment change. As a result, the demand for transformers is growing at a double-digit rate to support the need for smart grids, microgrids, and more. These transformers require a variety of electrical insulating tapes to achieve their optimum performance at operating temperatures. Secondly, the penetration rate of consumer electronics products has increased, and the market growth prospects are promising. Asia Pacific is the world’s consumer electronics manufacturing hub due to the strong presence of semiconductors and other essential industries in the region. Low wages for workers also provide a healthy support for manufacturing activity in the region. As a result, a large number of these tapes are used in the manufacture of consumer electronics as well as white goods. Additionally, demand for consumer electronics has surged as disposable incomes rise in emerging countries. E-commerce has further boosted the sales of consumer electronics, which is really supporting the growth of the market.
However, in the manufacture of gadgets and small electronics, insulating adhesive solutions are increasingly being used on components such as resistors, diodes, transistors and other heat-sensitive elements. With increasing miniaturization, the demand for such adhesives is expected to increase, hindering the demand for such adhesive tapes in the electronics industry. Also, in some situations where the potential for fire is high, using poor-quality insulating tape can easily catch fire and damage property. Therefore, for high temperature applications, alternative technologies are superior to these tapes.
Competition Landscape:
The market is highly fragmented, with global players accounting for less than half of the total market share. The main market players are tesa (Germany), Saint-Gobain (France), Nitto Denko (Japan), Avery Dennison (US), Intertape Polymer Group Inc. (Canada), 3M (US), etc. May 2020: Saint-Gobain, the global leader in the electrical insulating tape business, released its success story with the formula student racing team Elbflorace. The two collaborated to develop an effective electrical insulating tape solution for electric race cars.
Segmentation of Electrical Insulation Tape Market:
The PVC tape segment will dominate throughout the forecast period. Based on the raw materials used for tapes, the market is segmented into PVC tapes, glass cloth tapes, PET tapes, and others. The PVC tape segment will dominate throughout the forecast period. PVC tapes are the most commonly used electrical insulating tapes because of their low cost and universal availability. They are generally better suited to conduct electricity where exposure to low temperatures is necessary. Additionally, these tapes are corrosion and abrasion resistant, making them beneficial for outdoor applications. For prolonged exposure to high temperatures, glass cloth tape is usually preferred. These are made of polyester film reinforced with fiberglass strands. These are widely used as heat-resistant insulating material layers. For example, glass cloth tape has common applications in oven controls, motor leads, winding coils, furnace power systems, and more.
By application, the market is segmented into electrical and electronic, aerospace, industrial, and others. The electrical and electronics sector accounts for more than three-fifths of the global market. The application segment is expected to continue to dominate throughout the forecast period owing to increasing demand from the electrical industry as well as the expansion of the global electronics sector. Grid modernization is one of the most prominent factors driving growth. The demand for adhesive tapes in aerospace applications is also likely to increase due to an increase in the fleet, especially in the Asia-Pacific region. Transportation applications are emerging areas that are expected to grow rapidly over the medium to long-term forecast period owing to the increasing popularity of electric vehicles, as well as electric locomotives, which play a pivotal role in insulating batteries and other components.
Electrical Insulation Tape Market: Regional Analysis:
On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific dominates the market and China dominates. The market in this region is mainly driven by the expansion of power grids in various countries. Industrialization and urbanization have significantly increased electricity consumption in the region. As a result, lawmakers are keen to build smart grid technologies to optimize the efficiency and performance of power distribution systems. Also, the smart city project that the Chinese government is working on integrating the State Grid with IoT technology is sure to drive the demand for these tapes. Emerging economies such as India have begun to expand their power grids to every corner of the country. It does benefit the market growth in the region. Actions taken by the Indian government can demonstrate that by 2018, more than 600,000 villages were connected to the national grid, making electricity available to every village in India.
Cagr: 4.04%
Largest share area: Asia Pacific
Largest share country: China
Product Type (by material): PVC tape, glass cloth tape, PET tape and others
Application: Electrical and Electronic, Aerospace, Industrial and Others
Leading Company: tesa (Germany), Saint-Gobain (France), Nitto Denko (Japan), Avery Dennison (USA), Intertape Polymer Group Inc. (Canada)