Chicago, April 09, 2024 (GLOBE NEWSWIRE) — The Fire Resistant Tapes Market size was valued at approximately USD 0.8 billion in 2023 and is expected to reach to reach USD 1.1 billion by 2028, projecting a CAGR of 6.0%, as per the recent study by MarketsandMarkets™. Fire-resistant tapes are specialized adhesive tapes designed to provide protection against fire hazards. They are made from materials that can withstand high temperatures and resist the spread of fire. Flame resistant materials are inherently resistant to catching fire and self-extinguish rapidly. Examples include acetate cloth, Nomex etc. Fire resistant tape offers insulation and fire resistance. They can withstand high temperatures and resist ignition, making them ideal for use in environments where fire safety is critical. These tapes are designed to be durable and long-lasting, ensuring that they can withstand the rigors of their intended applications without degrading or failing. They are available in two coating types single coated and double coated. Fire resistant tapes are used in several end-use industries, including building & construction, Electrical & Electronics, automotive, aerospace & defense and others.
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193 – Market Data Tables
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List of Key Players in Fire Resistant Tapes Market:
- 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)
Drivers, Restraints, and Opportunities in Fire Resistant Tapes Market:
- Driver: High demand for fire resistant tapes in electric vehicles
- Restrain: High processing and manufacturing costs
- Opportunity: rapid industrialization in developing countries
- Challenge: demand for eco-friendly fire resistant tapes
Key Findings of the Study:
- Single coated type segment accounted for largest market share o by coating type fire resistant tapes market in 2022.
- Acetate segment accounted for largest market share of by type fire resistant tapes market in 2022.
- Electrical & Electronics segment accounted for largest market share of by end-use industry fire resistant tapes market in 2022.
- Asia Pacific region is expected to register the highest CAGR in terms of value during forecasted period.
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Based on coating type, single coated type dominated 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.
Based on type, acetate type dominated the fire resistant tapes market. Acetate fire resistant tapes provide exceptional stability, dependability, and insulating performance. One example of such tape is the MZ-W9722 flame retardant acetate cloth tape, which is made using premium, heat-resistant acetate fiber fabric as a substrate. According to UL94VTM-0 standards, these tapes provide flame retardant qualities that ensure safety in situations where fire resistance is essential. They are excellent for a variety of situations since they have a working temperature range of -40°F to 300°F and are resistant to water and solvents. These tapes’ adhesive ensures a stable binding by offering strong peel strength and initial adherence.
Based on end-use industry, the electrical & electronics segment dominated the fire resistant tapes market in 2022 by value. Fire resistant tapes provide insulation, protection, and stability for electrical wires and components. They come in different colors, 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 aging infrastructure, power grid modernization, increased energy demands, growing electric vehicle sales, 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.
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Based on Region, Asia Pacific was the largest market for the carbon fiber in 2022, with China being the largest market within the region. The Asia Pacific market has seen a rise in the demand for lightweight and fuel-efficient vehicles, leading to a higher consumption of fire resistant tapes in the automotive industry. 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 damages, and the export-oriented nature of its industries contribute to the dynamic growth and development of the fire resistant tapes market across Asia Pacific.
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