What is Cable Wrapping Tapes Market?
Wires and cables have become one of the most indispensable parts in today's advanced and digitized era. Nowadays, wires and cables find extensive uses in all industries, so the wire and cable industry have promising prospects. In such a digital world where electricity has become one of the most widely used sources of energy, internet and telephony are daily necessities for billions of people, institutions, and offices, and there is an absolute need for uninterrupted and high-quality service. Cable wrap tapes meet this requirement and provide high-quality uninterruptible power supply and cable protection for lucrative and emerging markets for products such as fiber optic and high voltage cables. The global market for cable packaging tapes has largely positive future prospects, which can be attributed to extensive use in almost all industries and markets. There is hardly a factor that can cause the global cable packaging tape market to change course significantly. Cable wrapping tapes have been used successfully in data transmission, subsea cable, and energy projects. Cable wrap manufacturers are expected to focus on sales in emerging markets where the internet and cable still have relatively low penetration. The global COVID-19 pandemic has resulted in a sudden disruption of manufacturing activities around the world, affecting the demand for plastics, as well as their manufacture and processing. The most affected end-user segments in the plastics industry include automotive and transportation, consumer goods, industrial equipment, construction, and electronics.
The market study is being classified by Type (Water-Swellable Cable Wrapping Tapes, Fire Retardent Cable Wrapping Tapes, Semi-Conductive Cable Wrapping Tapes, Insulative Cable Wrapping Tapes, Bitumenized Cable Wrapping Tapes and Mastic Cable Wrapping Tapes), by Application (Power, Communications and Industrial) and major geographies with country level break-up.
Scapa Group (United Kingdom), The 3M Company (United States), HellermannTyton Corporation (Germany), Jinyang Technology (South Korea), Avery Dennison (United States), Achem (Taiwan), Tesa SE (Germany), Nitto (Japan), Intertape Polymer Group Inc. (United States), Saint Gobain (France), Four Pillars Enterprise Co. Ltd. (Taiwan), Plymouth (Spain), Teraoka Seisakusho co., Ltd. (Japan), Wurth (Germany), Yongguan Adhesive (China), Denka (Japan) and Furukawa Electric Co. Ltd. (Japan) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Berry Global (United States), Han Yang Chemical (China) and Yangzhou Xiqite Cable Material (China).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Manufacturers will contribute to the maximum growth of Global Cable Wrapping Tapes market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Cable Wrapping Tapes market by Type, Application and Region.
On the basis of geography, the market of Cable Wrapping Tapes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand for Customization in the Variety of Cable Wrapping Tapes
- Rising Trend of Digitization Has Led To a Revolution in the Modern World
Market Trend
- The Increasing Adoption of Internet and Cable Connection in Emerging Economies
Restraints
- The Advent of Wireless Networking Technology and Satellite Communication
Opportunities
- The Advent of Modern Technology Has Led To Consumers Demanding Better Quality and Faster Services
Challenges
- Technological Progress in Developing Countries
Key Target Audience
Manufacturers of Cable Wrapping Tapes, Suppliers and Distributors of Cable Wrapping Tapes, End-Users, Potential Investors, Market Research Firms and Others