Cable Wrapping Tapes Market Size & Share, by Material (PVC Tapes, Glass Cloth Tapes, PET Tapes); Application (Electrical & Electronics, Aerospace, Industrial); Type (Vinyl Electrical Tape, Rubber Electrical Tape) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5359
  • Published Date: Nov 01, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024- 2036

Cable Wrapping Tapes Market size is anticipated to cross USD 3.5 Billion by the end of 2036, expanding around 7% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of cable wrapping tape was over USD 1.5 Billion. The Pandemic pushed schools & offices to close down, creating a culture of remote work and online studies, creating a new demand for Wi-Fi connection. The rising use of wires for connecting to the internet for business and school has raised the need for cable wrapping tapes to join wires together and keep insulated wires from kinking. According to a survey, as of 2024, 27% of American workers will work from home, and by 2025 it is expected that 36 million Americans will be working outside the country. Additionally, Around the world, online learning has been completed by 49% of students.

Also, the steady expansion of the construction sector is to boost the market for cable wrapping tapes. Traditional tapes are being replaced by cable wrapping tapes owing to their features such as secure functioning, and ease of ease. This is especially utilized around the Asia Pacific region. The cable wrapping tapes having prominent colors are critically used in electrical set-up during construction.


Cable Wrapping Tapes Market
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Cable Wrapping Tape Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand in the Automotive Industry- Automotive Industries are increasingly using cable wrapping tape products to insulate and protect electrical wiring in vehicles backed by its high durability, ease of application, and resistance to moisture, abrasion, and chemical exposure, as electrical wiring in vehicles become more complex and sophisticated. Around 66.7 million vehicles were sold globally in 2021, but 67.2 million vehicles were sold globally in 2022. Between 2020 and 2021
  • Rising Adoption of Automation and Robotics- To help manufacturers, improve production efficiency, decrease labor costs, and increase product quality, the growing use of automation and robotics in cable wrapping tape manufacturing is on the rise. As per estimates, 37% of industrial factories could be automated. Further, in terms of industrial automation Asia Pacific is leading with about 36%. Also, by 2024 industrial automation is expected to garner a revenue of around USD 119 billion.
  • Growth in Telecommunication- Telecommunications is one the fastest growing industries and has seen increased investments in recent years, owing to high-speed data services. The growth of the telecom industry has a positive impact on cable wrapping tape as it's used in electrical wires and cables making it an indispensable part and creating market demand.
  • Increasing Demand for Consumer Electronics- There is a huge demand for cable wrapping tape in consumer electronics to prevent short circuits, override the effects of excess currents, and complete the inter-circuit networks. Additionally, the electronic manufacturing services sector is set to achieve a significant market demand owing to increased disposable income among the masses and the generation’s strive for electrical equipment.

Challenges

  • Rising Wireless Technology- wireless connectivity Industry is on the rise due to technological advancement backed by the adoption of cloud services. Further, with increasing industrial automation and the need for digital support, innovative wireless solutions are important for an evolving connected world. This becomes a hindering factor for the cable wrapping tapes market.
  • Volatility in raw materials, creating a market crisis
  • These tapes degrade over time, restricting the market growth.

Cable Wrapping Tapes Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 7%

Base Year Market Size (2023)

~ USD 1.5 Billion

Forecast Year Market Size (2036)

~ USD 3.5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Cable wrapping Tape Segmentation

Material (PVC Tapes, Glass Cloth Tapes, PET Tapes)

The PVC tapes segment in the cable wrapping tapes market is expected to hold the largest revenue share over the forecast period, accounting for 54%. In today's consumer electronics industry, PVC tapes have become an indispensable tool owing to their electrical insulation properties, low cost, and general availability. These tapes are also highly resistant to anti-corrosion and abrasion, making them ideal for use in outdoor applications. With the industry's rapid growth, the demand for PVC tapes is expected to increase further as they provide a cost-effective solution to a wide range of electrical insulation problems.

Application (Electrical & Electronics, Aerospace, Industrial)

Cable wrapping tapes market from the electrical & electronics segment is anticipated to record significant growth during the forecast period. In line with the continued development of the electricity sector, this segment continues to lead throughout the forecast period. The growth of this sector can be attributed to the modernization of the electrical grid. In addition, there are opportunities for growth from its application in the aerospace sector. In addition, growth in the segment can be proven by the swift adoption of electric vehicles which have an important role to play in insulation batteries.

Our in-depth analysis of the global market includes the following segments:

          Application

  • Electrical & Electronics
  •  Aerospace
  •  Industrial

          Material

  • PVC Tapes
  • Glass Cloth Tapes
  •  PET Tapes

          Type

  • Vinyl Electrical Tape
  • Rubber Electrical Tape

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Cable Wrapping Tape Industry - Regional Synopsis

APAC Market Forecast

Asia Pacific cable wrapping tapes market is anticipated to hold around 47% of the revenue share by 2036. This is primarily attributed to the increasing demand for electrical devices and heavy investments in the power sector. In line with our analysis, energy generation in the APAC region is expected to rise by 4% per year between 2022 and 2030. Demand for better cables and wires for the electrical fittings significantly increases the market revenue for global cable wrapping tape. Further, the adoption of industry 4.0 initiatives to boost infrastructure across manufacturing/production & and related industries and value creation processes, is expected to propel the market. Also, the demand for power cord solutions across industrial sectors in developing countries in the Asia Pacific region such as South Korea, India, and others is anticipated to boost the market’s growth.

North America Market Statistics

North America cable wrapping tapes market is estimated to possess significant revenue share owing to several factors. The region has developed infrastructure, sophisticated manufacturing capacities, and a strong demand for electric products in different sectors like construction, the automotive sector as well and electronics. The presence of major players in the market. The dominant position of North America on the global market is driven by technological progress and stringent safety regulations. Moreover, demand for cable wrapping tapes in the region is driven by an increasing emphasis on energy efficiency and increased use of renewables.

Research Nester
Cable Wrapping Tapes Market Size
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Companies Dominating the Cable wrapping Tape Landscape

top-features-companies
    • 3M Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
    • PARKER HANNIFIN CORP
    • Scapa Group Ltd
    • HellermannTyton.
    • Polycom Associates
    • JINYANG TECHNOLOGY CO., LTD.
    • AVERY DENNISON CORPORATION.
    • ACHEM
    • tesa SE 
    • Saint-Gobain group
    • Nitto Denko Corporation
    • Intertape Polymer Group Inc.

In-the-news

In The News

  • Elbflorace is a Formula One student racing team, and Saint-Gobain, a global leader in the electrical insulating tape industry, published its success story with them. They had worked together to develop an efficient electrical insulating tape fix for electric race cars.
  • A new production bonding solution from 3M that increases automation, simplicity, and sustainability across industries is now available. It is called 3MTM VHBTM Extrudable Tape. The advantages of 3MTM VHBTM Tapes are all included in this end-to-end bonding solution, along with the adaptability of a liquid adhesive, in a single contained footprint that enables use at any size.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5359
  • Published Date: Nov 01, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising demand in the automotive industry, penetration of automation, increasing use in the telecommunication sector, and surge in the use of consumer electronics are some of the major growth factors for the cable wrappings tape market

The market size of cable wrapping tape is anticipated to attain a CAGR of 7 % over the forecast period, i.e., 2024 – 2036.

The major players in the market are PARKER HANNIFIN CORP, Scapa Group Ltd, HellermannTyton., Polycom Associates, JINYANG TECHNOLOGY CO., LTD., AVERY DENNISON CORPORATION., ACHEM, Nitto Denko Corporation, Intertape Polymer Group Inc., Teraoka Seisakusho co., Ltd. And others.

The PVC Tapes segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Cable Wrapping Tapes Market Report Scope
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