Disclaimer: This is a user generated content submitted by a member of the WriteUpCafe Community. The views and writings here reflect that of the author and not of WriteUpCafe. If you have any complaints regarding this post kindly report it to us.

Electrical Insulation Tape Market will exhibit a CAGR of 4.04% during the forecast period, and is projected to reach USD 15.2 billion by 2027, and the Market value as per 2019 was USD 12.8 billion.

Fortune Business Insights™ in a new report, titled, “Electrical Insulation Tape Market Size, Share & COVID-19 Impact Analysis, By Material (PVC, Glass cloth, PET, and Others), Application (Electrical & Electronics, Aerospace, Industrial and others), and Regional Forecast, 2020-2027.”

Electrical Insulation Tape Market Drivers and Restraint:

Modernization of Electricity Grid is Fostering Demand for Electrical Insulation Tape

The energy needs have been rapidly increasing since the beginning of the 21st century. With the changes in technology and equipment, modernizations of the existing grid and supporting the aging electrical infrastructure have become the need of the hour. Governments around the world are promoting the modernization of the electricity grid anticipating the growing needs of the increasing population in the coming years. As a result, the demand for transformers is increasing in double digits to support the demand for smart grids, micro grids, and others. Various electrical insulation tapes are required in these transformers to address their optimum performance at operating temperatures.

Increasing Penetration of Consumer Electronics to Bode Well for Growth of Market

Asia-Pacific is the hub for manufacturing consumer electronics in the world owing to the strong presence of semiconductor and other necessary industries in the region. The low wages of workers also healthily support the manufacturing activities in the region. Thus, the abundant amounts of these tapes are consumed in manufacturing consumer electronics, as well as white goods. Moreover, with the increasing disposable income in the emerging countries, the demand for consumer electronics is also surging. E-commerce has further fueled the sales of consumer electronics which indeed is supporting the growth of the market.


Alternative Technologies Likely to Confine Market Growth

There has been an increasing adoption of insulating adhesive solutions, especially in the manufacturing of gadgets and miniaturized electronic goods. These adhesives are applied on components such as resistors, diodes, transistors, and other heat-sensitive components. These adhesives are thixotropic in nature and are epoxy-based systems that make them durable and suitable for miniaturized electronics. With the increasing miniaturization, the demand for such adhesives is expected to go up, thus hampering the demand for these tapes in electronics. Moreover, in certain cases where the chances of fires are high, the use of low-quality insulation tapes can easily catch fires, thereby damaging the property. Thus, for high temperature applications, alternate technologies are preferred over these tapes.

List of Key Players Covered in the Electrical Insulation Tape Market Report:

  • tesa (Germany)
  • Saint-Gobain (France)
  • Nitto-Denko (Japan)
  • Avery Dennison Corporation (US)
  • Intertape Polymer Group Inc. (Canada)
  • The 3M Company (US)
  • HellermannTyton (US)
  • Teraoka Seisakusho Co., Ltd. (Japan)
  • Shurtape Technologies, LLC (US)
  • Pidilite industries ltd (India)

 To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/electrical-insulation-tape-market-103476

 Some of the key industry developments in the Electrical Insulation Tape Market Include:

  • May 2020: Saint-Gobain, a global leader in electrical insulation tape business, released its success story with Formula student racing team Elbflorace. The two had collaborated for an effective electrical insulation tape solution for electric racing cars. Polyimide tapes were chosen as an effective solution for electric vehicles. This shows the company’s capability to cater to research solutions as per customer demand and its expertise in tapes solution for electric vehicles.  


Welcome to WriteUpCafe Community

Join our community to engage with fellow bloggers and increase the visibility of your blog.
Join WriteUpCafe