The global utility grade duct tapes market is expected to witness a healthy growth rate 5. 1% CAGR during 2017 to 2022, reveals the findings of an upcoming report by Transparency Market Research (TMR).
The global utility grade duct market was valued at US$ 395. 1mn in 2017 and it is expected to reach at US$505.6 mn by the end of forecast period. The demand for utility grade duct tape is ever growing. The large share of demand is expected from repairs. The utility duct tapes have various applications such as sealing, holding, waterproofing, repairing, and strapping. But, repairing segment may fuel the market due to its high adhesive properties and ease in applications.
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Constructions & Buildings to Strengthen Utility Grade Duct Tapes
Construction projects and buildings use a larger share of utility grade duct tapes for various applications, thus, resulting in the expansion of the global utility grade duct tapes market.
The utility duct tapes can be used as a masking tape on floors or any kind of surfaces. These are easy to tear, have excellent tensile strength, and abrasion resistance. These features make them an ideal choice as masking tape for smooth and delicate surfaces. This might aid in the growth of the global utility grade duct tapes market.
The utility duct tapes are used in insulation of electrical applications; this provides shock resistance, durable holding, high performance, and superior reliability. Thus, might aid in expanding the growth opportunities of the global utility grade duct tapes market in the forthcoming years.
Utility duct tapes are not just used by the construction companies but also it is being used by common household for regular maintenance such as insulating electrical appliances, wrapping pipes, etc. This could lead to the expansion of the utility grade duct tapes market.
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Further, these tapes are highly cost efficient which makes them an obvious choice in industrial sectors.
On the flip side, presence of such as fibre tapes and mastic fluids might hinder the growth in the global utility grade duct tapes during the forecast period. Nevertheless, the growing packaging and logistics sector is expected to provide impetus to the growth in the global utility grade duct tapes market. The growth can be due to high tensile strength and superior adhesive features that these tapes offer.