Growth Opportunity Analysis of the Global Tapes Market
Growth Opportunity Analysis of the Global Tapes Market : Innovation Drives Specialty Tapes Revenue
NEW YORK, Jan. 6, 2016 /PRNewswire/ -- Within the global tapes market, the food and beverage, packaging, medical, and automotive industries are the largest consumers, while the electronic and construction industries are the fastest growing. In established markets such as North America and Western Europe, growth in many sectors has stagnated due to an over-supply of tapes, leaving niche applications sub-sectors as the only growth areas. Analysis of the global tapes market covers the industrial, industrial specialty, healthcare, and retail product segments. Forecasts and trends are provided at the total market level and by region from 2014 (base year) to 2018.
Key Findings
The global market for tapes in 2014 was sized at billion m2 , which equals $ billion worth of tapes used. The projected market size for 2018 is billion m2 and would amount to $ billion worth of tapes being used.
- Consequently, the global tapes market grew in revenue at a year-over-year growth rate of % from 2013 to 2014 and is expected to grow at a compound annual growth rate (CAGR) of % from 2014 to 2018.
- The average price for tapes in 2014 was $ per m2 , and this will increase to $ per m2 in 2018. The change in price is due to increases in raw material costs, labour costs, and operating costs.
- The most expensive tape per m2 is healthcare tape, which in 2014 cost $ per m2 and will cost $ per m2 in 2018. These inflated costs are due to high standards and numerous healthcare regulations.
- The largest consumers of tapes are the food and beverage, packaging, medical, and automotive industries, while the fastest growing consumers are electronic and construction.
- Oversupply from the Asia-Pacific market is hindering innovation.
- In established markets such as North America and Western Europe, growth in many sectors has stagnated due to an over-supply of tapes. The only significant growth sectors are within the niche applications sub-sectors.
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