According to the new market research report “Aerospace Tapes Market by Resin Type (Acrylic, Rubber, Silicone), Backing Material (Paper/Tissue, Film, Foam), End-use Industry (Commercial Aviation, Military Aviation, General Aviation), and Region – Global Forecast to 2024″, The aerospace tapes market size is projected to grow from USD 2.0 billion in 2019 to USD 2.4 billion by 2024, at a CAGR of 4.0%, during the forecast period.
There has been a widespread acceptance of aerospace tapes in various industries such as commercial aviation, military aviation, and general aviation. Initiatives undertaken by governments of China and India, increasing demand for lightweight and more fuel-efficient aircraft, rising demand for passenger aircraft in emerging regions, and replacement of old/aging aircraft & modernization of existing aircraft are expected to drive the growth of the aerospace industry, thus, consequently augmenting the growth of the aerospace tapes market.
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The aerospace tapes market is projected to grow from an estimated value of USD 2.0 billion in 2019 to USD 2.4 billion by 2024, at a CAGR of 4.0% between 2019 and 2024. Aerospace tapes are a combination of a material and an adhesive film, used to bond or join objects together instead of using fasteners, screws, or welding. These tapes are designed for cohesion in extreme temperatures and are used instead of mechanical fasteners. The use of aerospace tapes has simplified the manufacturing processes of aircraft. These tapes do not leave any adhesive residue and protect the surface area without any damage, unlike fasteners or screws. These tapes consist of a backing material or carrier (paper, plastic film, cloth, foam, foil, and others), which is coated with an adhesive and a release liner if needed.
Based on resin type, acrylic is estimated to account for the largest share and register the highest CAGR during the forecast period. The segment accounts for a major share in the overall aerospace tapes market because of its ease of use, low cost, and wide acceptability in the end-use industries, such as commercial, military, and general aviation.
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The aerospace tapes market is projected to grow from USD 2.0 billion in 2019 to USD 2.4 billion by 2024, at a CAGR of 4.0% between 2019 and 2024. The major driving factors in the aerospace tapes market are initiatives undertaken by governments of China and India, increasing demand for lightweight and more fuel-efficient aircraft, growing demand for passenger aircraft in emerging regions, and replacement of old/aging aircraft and modernization of existing aircraft.
The key market players are 3M Company (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), tesa SE (Germany), Scapa Group plc (UK), Intertape Polymer Group (Canada), Compagnie de Saint-Gobain S.A. (France), Berry Global, Inc. (US), Advance Tapes International (UK), Stokvis Tapes BV (Netherlands), Shurtape Technologies, LLC (US), DeWAL Industries (US), MBK Tape Solutions (US), GERGONNE – The Adhesive Solution (France), Adhesives Research, Inc. (US), American Biltrite Inc. (US), Can-Do National Tape, Inc. (US), Av-DEC, Inc. (US), JTAPE Limited (UK), Fralock Innovative Materials Manufacturing & Automation (US), UltraTape (US), and Mask-Off Company, Inc. (US). These players have adopted various strategies, such as merger & acquisition and investment & expansion between 2016 and 2019, to enhance their market shares and expand their global presence
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Avery Dennison Corporation manufactures, markets, and sells pressure-sensitive materials, self-adhesive base materials, and self-adhesive consumer & office products. The company operates through three business segments, namely, label and graphic materials, retail branding and information solutions, and industrial and healthcare materials. The company, through its pressure-sensitive product division, manufactures and sells aerospace tapes. The performance tapes product division of the company provides pressure-sensitive adhesive tapes for bonding, sound/ vibration damping, and part protection in the aerospace industry. These tapes have been designed for use during new plane construction and aircraft refurbishment.
tesa SE is one of the leading manufacturers of adhesive tapes and self-adhesive solutions for industry retailers and consumers. It operates through two business segments – direct industries and trade markets. The company sells more than 7,000 products in almost 100 countries and has eight production sites.
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