Fire Resistant Tapes Market worth $1.1 billion by 2028 - Exclusive Report by MarketsandMarketstm

CHICAGO, April 1, 2024 /PRNewswire/ -- The report "Fire Resistant Tapes Market by Coating Type, Type (Nomex, Acetate, PPS, Glass Cloth, PVC, Polyimide), End-Use Industry (Building & Construction, Electrical & Electronics, Automotive, Aerospace & Defense), & Region - Global Forecast to 2028", is estimated at USD 0.8 billion in 2023 and is projected to reach USD 1.1 billion by 2028, at a CAGR of 6.0% from 2023 to 2028.

The growth of the Fire-Resistant Tapes Market is being driven by several factors, including increasing demand from construction applications, increasing usage of fire-resistant materials in various industries, and increasing demand for fire resistant tapes from automotive industry. The high processing and manufacturing cost of fire-resistant tapes, lack of standardization in manufacturing technologies could hinder market growth. Technological advancements and innovation, rapid industrialization in developing countries will boost the Fire-Resistant Tapes Market.

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190 ? Tables
65 ? Figures
210 ? Pages

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Single coated type segment accounted for largest market share o by coating type fire resistant tapes market in 2022.

The overall market is dominated by single coated fire-resistant tapes segment due to their variety, ease of application, and low cost. These tapes are a popular choice among customers as they provide enough protection for a variety of applications in the construction industry. Double coated tapes, on the other hand, are more specialized and might not be as widely used even though they offer advantages like improved insulation and protection. These tapes account for a 30% share of the overall fire-resistant tapes market and cater to the specialized requirements in certain applications.

Acetate segment accounted for largest market share of by type fire resistant tapes market in 2022.

The acetate fire resistant tapes segment is estimated to account for the largest share of the overall fire-resistant tapes market because of their remarkable flexibility, high dielectric strength, and versatility in a variety of applications. Acetate tapes have a special set of qualities that make them perfect for sealing, insulation, and fire safety applications. These tapes are different from other varieties, such as Nomex, PPS, PVC, glass cloth, polyimide, acrylic, and metal foil, in terms of their dependability, affordability, and convenience of usage. Acetate fire resistant tapes are the industry standard due to their extensive application in various industries and their capacity to adhere to strict fire safety regulations.

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Electrical & Electronics segment accounted for largest market share of by end-use industry fire resistant tapes market in 2022.

The market for fire resistant tapes is dominated by the electrical & electronics end-use industry.  These tapes are important in providing protection, insulation, and safety in electrical applications. The high growth of the electrical & electronics industry is fueling the demand for fire resistant tapes in the electrical & electronics segment.   These tapes protect electrical components from environmental elements like heat, moisture, and corrosion. The need for dependable insulating solutions is further fueled by the complexity and sophistication of electronic devices, which makes the electrical & electronics sector a major consumer of fire-resistant tapes.

Asia Pacific region is expected to register the highest CAGR in terms of value during forecasted period.

The carbon fiber market has been studied in North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

Asia Pacific led the fire-resistant tapes market, in terms of value, in 2022 and is projected to register a CAGR of 6.3% between 2023 and 2028. This dominance can be attributed to several key factors. Firstly, the rapid industrialization and infrastructure development in countries such as China, India, and Japan fuel the need for fire protection solutions, including fire-resistant tapes. Secondly, the increasing focus on safety standards and regulations in the region, particularly in sectors such as construction, automotive, and electronics, boosts the demand for these tapes.

Key players

Prominent companies include 3M (US), Scapa Group Ltd. (UK), Avery Dennison Corporation (US), Nitto Denko Corporation (Japan), Saint Gobain (France), Shurtape Technologies LLC. (US), Tesa SE (Germany), Americover Inc. (US), Boyd Corporation (US), Rogers Corporation (US), Tape-Pak Inc. (US), Nichiban Co. Ltd. (Japan) among others.

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