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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 7% |
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Base Year Market Size (2023) |
~ USD 1.5 Billion |
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Forecast Year Market Size (2036) |
~ USD 3.5 Billion |
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Regional Scope |
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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:
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Application |
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Material |
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Type |
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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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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