Fire Resistant Tapes Market Size is valued at USD 0.78 billion in 2023 and is predicted to reach USD 1.33 billion by the year 2031 at a 7.1% CAGR during the forecast period for 2024-2031.
Fire resistant tape is a type of adhesive tape specifically designed to resist or slow down the spread of flames in case of a fire. The primary purpose of fire resistant tape is to enhance the fire safety of materials or products to which it is applied. This type of tape is commonly used in various industries where fire safety is a crucial concern, such as construction, electrical, automotive, and aerospace. The tape is made with materials that have flame-resistant properties, and it is designed to meet specific fire safety standards and regulations. The fire-retardant properties can be achieved through the use of materials that are inherently resistant to fire or through the application of flame-retardant coatings.
Fire retardant tapes are often used to wrap and insulate electrical wiring to reduce the risk of fire in electrical systems. In industries where cable and wire harnesses are prevalent, fire resistant tape can be used to secure and protect these components. Fire retardant tapes may be used in automotive applications, especially in areas where there is a risk of fire or exposure to high temperatures. Fire retardant tape can be applied to building materials to improve their fire resistance. In the aerospace industry, where stringent safety standards are crucial, fire-resistant tapes may be used for various applications.
Fire resistant tapes market has experienced both positive and negative effects as a result of the Covid-19 epidemic. Initially, the market witnessed disruptions in the supply chain due to lockdowns and restrictions, leading to production slowdowns and delivery delays. However, as industries resumed operations and safety regulations became more stringent, the demand for fire resistant tapes surged, especially in sectors like healthcare, electronics, and automotive. The increased emphasis on safety and hygiene further drove market growth. Additionally, the growing adoption of electric vehicles, which require fire-resistant tapes, also contributed to market expansion. Overall, while the pandemic caused short-term challenges, it ultimately accelerated the market's growth trajectory.
Competitive Landscape
Some Major Key Players In The Fire Resistant Tapes Market:
- 3M (US),
- Scapa Group Ltd.
- Avery Dennison Corporation
- Nitto Denko Corporation
- Saint Gobain
- Shurtape Technologies LLC.
- Tesa SE
- Americover Inc.
- Boyd Corporation
- Rogers Corporation
- Tape-Pak Inc.
- Nichiban Co. Ltd.
- Chinastars
- Aris Polymer Adhesive Tape Private Limited
- Chukoh Chemical Industries, Ltd.
- Shrink Inc.
- Adhtapes
- Teraoka Seisakusho Co., Ltd.
- Shushi Group Co., Ltd.
- Aerotape
- EKI
- NSI Industries
- Other Market Players
Market Segmentation:
The Fire Resistant Tapes Market can be segmented based on several factors, including coating type, Product type, and end-user industry. As per the coating type, the market is segmented into single and double coats. On the basis of product type, Nomex, Acetate, PPS, Glass Cloth, PVC, Polyimide, and Others products are included. Based On end-use industries, the market includes Building & Construction, Electrical & Electronic, automotive industries, Aerospace & Defense industries, and Others.
Based On End-Use, The Electrical & Electronics Segment Is Accounted As A Major Contributor To The Fire Resistant Tapes Market
According to the end-use industry, the electrical & electronics segment dominated the fire-resistant tapes market in 2023 by value. Fire-resistant tapes provide insulation, protection, and stability for electrical wires and components. They come in different colours, widths, and thicknesses and are widely used in professional and DIY electrical work. The market for these tapes is expected to grow due to factors such as ageing infrastructure, power grid modernization, increased energy demands, growing electric vehicle sales, the development of more efficient electric motors, and the expansion of electric charging stations. The escalating demand for electronics, propelled by population expansion and urbanization, is increasing the need for fire protection measures in electronic devices.
The Coated-Type Tape Segment Witnessed Growth At A Rapid Rate.
Based on coating type, the single coated type dominates the fire-resistant tapes market. Single-coated fire-resistant tape is distinguished by its distinct qualities and wide range of end applications in different industries. These tapes are made with a flame-retardant material coated on one side, providing crucial fire safety characteristics. High flame resistance, heat insulation, and adherence to strict fire safety regulations are among the major characteristics of single-coated fire-resistant tapes.
In The Region, Asia-Pacific In Fire Resistant Tapes Market Holds A Significant Revenue Share.
The Asia-Pacific Fire Resistant Tapes Market is expected to report the highest market revenue share in the near future. In the automotive industry, there has been an increase in the consumption of fire-resistant tapes in the Asia Pacific market due to the expanding need for lightweight and fuel-efficient automobiles. Additionally, the presence of a wide base of electronics manufacturers in Asia Pacific has led to an increased demand for fire-resistant tapes, as these electronic goods require fire-resistant tapes for improved protection from thermal and electrical damage. The export-oriented nature of its industries contributes to the dynamic growth and development of the fire-resistant tapes market across the Asia Pacific.
Recent Developments:
- In July 2023, Shurtape Technologies, LLC, known for its adhesive tape and consumer products, unveiled a new manufacturing plant in Catawba, North Carolina, on July 7, 2023. This development also encompasses the expansion of its existing distribution centre, which was inaugurated in 2020.
- In December 2022, Shurtape Technologies, LLC, a prominent manufacturer of pressure-sensitive tapes, recently acquired Pro Tapes & Specialties, Inc. Pro Tapes & Specialties is known for its diverse range of markets, providing tape manufacturing and conversion services to industries such as graphic arts, library and school supplies, precision die-cutting and fabrication, contract and custom converting, as well as retail and general industrial sectors.
Fire Resistant Tapes Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 0.78 Bn |
|
Revenue Forecast In 2031 |
USD 1.33 Bn |
|
Growth Rate CAGR |
CAGR of 7.1% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn, Volume (KT) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Coating Type, Type and End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
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), and other market players. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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