Corrosion Proof Tape Market Size, Share, Growth, and Industry Analysis, By Type (BOPP Tapes, BOPET Tapes), By Application (Electrical, Pipe and Pipelines, Other) and Regional Insights and Forecast to 2031

Updated On: 06 May 2024

Corrosion Proof Tape Market Report Overview

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The global corrosion proof tape market size was USD 402 million in 2020 and is projected to reach USD 505.7 million by 2026, exhibiting a CAGR of 3.9% during the forecast period.

The corrosion proof tape market is witnessing growth driven by increased global infrastructure spending, especially in projects involving critical components like bridges and pipelines. The demand for resilient corrosion protection solutions is escalating as a result. Moreover, the market is expanding due to a shift towards cost-effective and efficient solutions. Corrosion-proof tapes offer quicker installation, require less manpower, and provide long-term protection, addressing the industry's need to reduce both initial installation expenses and long-term maintenance costs. This strategic shift is fueling the increasing demand for corrosion proof tapes and contributing to the overall growth of the market.

COVID-19 Impact: Demand Declined Due to Slowdowns in Key User Industries

The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

COVID-19 significantly impacted the corrosion proof tape market. The pandemic induced slowdowns in key user industries, including construction, oil and gas, and automotive sectors, which faced disruptions, resulting in decreased demand for corrosion protection in pipelines, buildings, and vehicles. Furthermore, supply chain disruptions played a crucial role, with raw material shortages and logistics issues hampering the production and distribution of corrosion-proof tapes. These challenges created a ripple effect, contributing to the overall decline in demand for corrosion protection solutions during the pandemic.

Latest Trends

"Integration of Conductive Materials to Enhance Effectiveness and Adaptability"

The latest trend in the corrosion proof tape market revolves around the integration of conductive materials within the tape structure. This innovation caters to diverse applications such as grounding, shielding, and cathodic protection, providing a unique and versatile solution for corrosion mitigation. The incorporation of conductive tapes addresses the evolving needs of industries seeking advanced and multifunctional corrosion protection methods. This trend aligns with the market's drive towards enhancing the effectiveness and adaptability of corrosion-proof tapes, showcasing a proactive approach to combating corrosion challenges in various sectors.

Corrosion Proof Tape Market Segmentation

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By Type Analysis

Based on type, the global market can be categorized into BOPP tapes and BOPET tapes.

• BOPP Tapes: Biaxially oriented polypropylene tapes offer good strength, clarity, and moisture resistance at an attractive price point, making them ideal for general-purpose applications such as sealing and temporary repairs.

• BOPET Tapes: BOPET tapes, also known as biaxially oriented polyethylene terephthalate tapes, represent the premium segment. They boast exceptional strength, temperature resistance, and chemical resistance, making them suitable for demanding applications like high-temperature environments, chemical exposure, and long-term protection needs.

By Application Analysis

Based on application, the global market can be categorized into electrical, pipe and pipeline, and others.

• Electrical: Corrosion proof tapes find significant application in the electrical sector, providing crucial protection for electrical components in various settings.

• Pipe and Pipeline: These tapes play a pivotal role in safeguarding pipes and pipelines from corrosion, ensuring their durability in harsh environmental conditions.

Driving Factors

"Increased Infrastructure Spending to Propel Market Growth"

The surge in global infrastructure spending, particularly in projects involving bridges, pipelines, and power grids, is a key catalyst for the corrosion proof tape market growth. As investments grow, there is an escalating need for resilient corrosion protection solutions. Corrosion proof tapes, known for their ease of application, effectiveness, and durability, are emerging as the preferred choice for safeguarding critical infrastructure components.

"Focus on Cost-Effectiveness and Efficiency to Elevate Market Expansion"

In response to the escalating costs associated with labor and traditional corrosion protection methods such as welding and coatings, there is a growing emphasis on adopting solutions that are both efficient and cost-effective. Corrosion-proof tapes are becoming increasingly popular as they facilitate quicker installation, demand less manpower, and offer long-term protection. This shift toward tapes aligns with the industry's pursuit of solutions that not only reduce initial installation expenses but also contribute to substantial long-term savings by minimizing maintenance costs.

Restraining Factor

"Competition from Alternative Solutions to Limit Product’s Widespread Adoption"

The corrosion proof tape market faces constraints due to the existence of established corrosion protection methods such as coatings and cathodic protection systems. These alternatives present stiff competition, demanding continuous innovation and a focus on cost-effectiveness to secure and expand market share. The need for differentiation and proving superiority over traditional solutions poses a challenge for the widespread adoption of corrosion-proof tapes on the market.

Corrosion Proof Tape Market Regional Insights

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"Asia Pacific to Lead the Global Market Due to Robust Infrastructure Development"

The market is primarily segregated into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.

Asia Pacific holds the largest corrosion proof tap market share. Its robust infrastructure development, stringent regulations driving preventative maintenance, and focus on advanced technologies position it as a key driver of market growth and innovation. While other regions hold potential, Asia Pacific currently exhibits a unique combination of factors propelling it to the forefront of this dynamic market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• 3M (U.S.)
• Nitto Denko (Japan)
• Avery Dennison (U.S.)
• tesa SE (Germany)
• Henkel (Germany)
• Berry Plastics (U.S.)
• Intertape Polymer (Canada)
• LINTEC Corporation (Japan)
• Achem Technology Corporation (Taiwan)
• Yonghe Adhesive Products (China)
• Winta (China)
• Yongle Tape (China)
• JinghuaTape (China)
• Luxking Group (China)
• Shushi Group (China)
• Yongguan (China)
• Camat (China)

INDUSTRIAL DEVELOPMENT

October 2019: 3M Company marked a significant milestone in the industrial development of the corrosion-proof tape market with the launch of Scotch 2200 vinyl mastic tape. This innovative self-fusing, rubber-based insulating tape is specifically engineered to provide robust protection against moisture and corrosion in electrical connections. Designed for versatile applications, both indoors and outdoors, the Scotch 2200 tape demonstrates resilience by withstanding temperatures of up to 100°F (approximately 38 °C). This product introduction exemplifies the continuous advancement in the industry, addressing specific needs for effective corrosion protection in electrical systems with a focus on durability and adaptability.

Report Coverage

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.