Rubber tape market forecast at $1.4 billion by 2032

Pune, India – In 2022, the market for rubber tapes is anticipated to generate US$ 914.3 Mn. Market valuation is anticipated to reach US$ 1.4 Bn in 2032, with sales increasing at a 4.4% CAGR. According to Future Market Insights, ethylene polypropylene rubber tapes will become the most popular product types on the worldwide rubber tapes market. Over the evaluation period, ethylene polypropylene rubber tape sales are anticipated to increase overall by 1.6 times.

The market will continue to be driven by increased sales of rubber tapes for repairing and protecting combined with rising costs for routine upkeep and maintenance of machinery and equipment. By 2022, applications for repairing and safeguarding things will account for more than 39% of all rubber tape usage.

“Growing adoption of rubber insulation tapes in the electrics and electronics industry, along with increasing demand from the automotive industry will continue driving the rubber tapes market over the forecast period,” says the FMI analyst.

Based on product type, sales in the ethylene-propylene rubber tapes segment will reach US$ 655.9 Mn in 2032.
Total sales of rubber tapes having a thickness between 0.7mm and 0.9mm are expected grow at a 4.3% CAGR over the forecast period.
Demand in the electrical and electronics sector will create an incremental opportunity of US$ 145.1 Mn over the forecast period.
Applications of rubber tapes in the maintenance and repair segment will account for 39.3% of the total market share in 2022.
Sales of rubber tapes in the U.S. are expected to offer an incremental opportunity of US$ 75.1 Mn over the forecast period.
Will Growing Preference For Sustainable Materials Spur Demand For Rubber Tapes?

Governments across the globe are issuing regulatory norms for manufacturers to adopt eco-friendly manufacturing processes and to manufacture products that have minimum effects on the environment.

As per the European Commission Eco-design Directive, all member countries are trying to reduce the environmental impact of products and energy consumption. Also, the commission has issues regulations for the adoption of eco-friendly products and sustainable energy consumption across all manufacturing domains.

Increasing awareness regarding the hazardous disposal of plastic waste has resulted in several environmental regulations. In response to this, manufacturers are using biodegradable raw materials to produce tapes.

Furthermore, rubber tapes have no adhesives and leave little to no residue when applied, making it a sustainable alternative in comparison to other tapes made of petroleum products.