Pune, India – The market for self-fusing silicone tapes is anticipated to reach USD 1,106 million by 2032 at a CAGR of 4.2% from USD 736 million in 2022 according to Future Market Insights.
The electrical industry is undergoing significant development and is expected to witness positive growth over the forecast period. The developed and developing countries across the globe are spending a significant percentage of their GDPs on infrastructural development.
Economic development and rising population are encouraging manufacturers to invest more in transportation, power generation, and other systemic development. Thus, these factors result in increased demand for industrial products like self-fusing silicone tapes that are widely used for these projects in the global market.
Some major projects such as the Al Maktoum International Airport of Dubai, the California High-speed Rail of the United States, and the Crossrail project of London are some of the ongoing mega projects. Self-fusing silicone tapes increase the life span of the product and also help repair electrical insulators.
The wrapping and sealing carried out for wires and cables in the above-mentioned mega projects are expected to drive the self-fusing silicone tapes market during the forecast period. Therefore, significant growth in demand for the target product has pushed packaging companies to expand their product offerings with self-fusing silicone tapes for various end-use applications.
By thickness, the 0.26mm to 0.50mm segment is anticipated to remain the leading segment among the other segments and are the most prominently used self-fusing silicone tapes. 0.26mm to 0.50mm segment is expected to account around 44% of market proportion in the overall self-fusing silicone tapes market in 2022.
Based on product type, the most attractive segment is triangular tape and it is found to be the most preferred self-fusing silicone tapes owing to its multi-functional ability and high performance characteristics. The triangular tape segment is projected to register a CAGR of 4.8% during the forecast period.
By end use, the electrical & electronics industry is projected to remain the key end-use industry for self-fusing silicone tapes in the years to come. The same segments are anticipated to hold around 44% of the market share 2022.
Europe and East Asia cumulatively account for nearly 52% of the global self-fusing silicone Tapes market in 2021. This can be attributed to increasing plumbing and home & garden end use in developing economies in the region such as China, India, and -east Asian countries.
“Key manufacturers of self-fusing silicone tapes are focusing on product innovation and technological integration which can allow scale of production resulting in quality product for a lower cost. This is likely to attract customers as it balances the cost and value. Organizations are also partnering and collaborating with other players in the market to tap potential markets by penetrating deeper into the filament tapes market. This enhances brand value and increase market share in the self-fusing silicone tapes market.” says an FMI analyst.
Self-fusing silicone tapes, also known as telecom tapes in the telecom industry, are cost-effective and high-quality repair tapes that are used for pressurized copper lines. Telecom tapes use the latest silicone compounding technology and premium-quality silicone elastomers to produce effective self-fusing silicone tapes.
These tapes use a waterproof shield of silicone over the pressurized lines to create the desired line pressure. Self-fusing silicone tapes allow technicians to reuse end plates, which helps in saving the cost of new plates.
The repair and reuse of electronic appliances require significant usage of self-fusing silicone tapes that provide the necessary protection. An increase in disposable incomes and the changing living standards of customers have resulted in increased sales of consumer durable goods. Easy credit facilities provided by finance companies to purchase electronic appliances are also expected to drive sales of consumer durable goods.
Self-fusing silicone tapes are the most preferred tapes for wrapping and sealing electronic insulators and provide moisture-free and protective wrapping. More and more electricians are inclining towards the use of self-fusing silicone tapes in the electronic industry for their convenience and efficacy.
Therefore, the demand for self-fusing silicone tapes is expected to witness positive growth over the forecast period in the telecommunication and consumer durables industry.